Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1843-11-23

UesS eHalfS tnOst euItfy uHttoS ee"S
check, some control, be exercised over
The whole matter. Now, gentlemen, ! 60
not say, never have said, that BACK o.
the United States was an indisp nsaole
agent Tor the good administrs On q me
Government or prosperity Of The col ie,
| | only mean TO say that 1t Is The duty o.
the Goyerpu en-, 10 take rare OF The cur.
rency, and in favor Of a BANK sa'd ih"i
il had been repeatedly tired and UNIFORM
llv with So
On. other remark I viii make upon
this subj 1ct. Seven or eight Yeas since
/ d. claie1 in my place 10 the Senate, tina,
/ having very much desired the continuance
I OF the charter TO the baak from a sinrere
conviction tina, both banks which had been
organised BY authority oil Congress had
been productive of good, | made up my
mind 10 Gen. Jackson's tine, that we
could no, possibly establish another Bank
I'LL there should be decisive call by the
people for such an institutions. remain
Of psat opinion. And have said on an
other aud more recent o, casion that it
/ appeared 10 me that Bank Of the United
States, founded upon private subscriptions
ard invested with the power Of discount,
was Gu. of the question. Ihiat so sill:
because the circumstances oi the country
have changed since the expiration oil tb.
charter. State institutions h We gre, ~
increased and many the States D. i've II
considerable portion OF heir rev due from
taxes upon the capital of ib1 osuks w.t.
in their limits. Nevertb .ess, am quite
willing to agree that bank on the old
model is perfectly r. astitutional; aud if t e
time should ey'r come when by Nh Wis
dom OF Cor .,ress and the general judg-
ment Of lie people, a Bank on tie old plan
and n odet should seem proper 10 tc adop-
tc9s, IL 1couM hare my hearty concurrence.
! sui ST Il lhiok that an institution OF that
s. TT should be an institution rather for
cont oIling issurs Of oiher banks, than for
discoentIng paper and thus fu nlshing zap
lilal for PRIV te business.
Genilemtn n, another Of the particular
ltol les 10 which my titentIon has bee n
drawn by the Commit, e, is that relating
to the prutet ton which the general gov
eminent OWES 20 Agfcultu' e, Commer'e
and Manufactures; ard this leads TO the
subjects of Tariff for iavoring end en-
couraEing cur oNn industry. l VII tn
deayor TO state my opinion upon that sub.
ject with some degree of precision; be
cause, gentlemen, | b, lieve that there is a
SOFT Of uhraism upon the suhjsct. Ex.
travagance Of opinion is characteristic Of
this pge; not on political suble Is only but
on all subjects, men either run eU to the
Gsnges or t. the extreme West. ln re-
gard to this subject there ERE some who
carry Goctrines on Tariff to the length
of prohibition, to o certain extent, Of I.
eign commodities: and Others, again, main
tain stouily that it is perfectly uncoastltu-
tiobal for Congress to look 10 any other
object in the world than the amount OF
money which may be fece we'd, OF to lave
the least regard to layoiing and 'ncour-
aging the caoitsl Of our country. My
own o. inion is tn the power of encuur-
aging III, products Of our own country
by just discrm nation does belong to Con
gress. 1t is meet ssary that the authority
Of national government should include the
power to lay duties with this direct OBJ
jrcf, end it ought to be kept stead ly in
view.
That's my opinion, and | should be
willing, in calm aud candid way to dis
cuss the subject with any gentleman of
can or and intelligence in the common
wealth.
lie, US consider a lew general truths.
FIRST Congress has the power to lay du
ties upon mporiat ons. No State has
Ihat power ut al. The time was wien
the States had that power-when alassa
chus It's could lay tax on importatious.
She had lhd power bef,re the formation
nf the present const,tul. on and she exer-
cised It and did impose taxes, not only for
revenue but for The protection of Ter
manufactures. Several Of the States oi
tho Union posse ssed and at various times
exercised ,his power. But now Massa.
chus,tls and oil the other STATES have
lost altogether Ibis power oflaying duties,
except for quarantine or some strictly 10
cal purpos S. The power they once pos.
I-sesse1 has been transferred TO other hands
and it may still be exercised in the same
way, for the encouragement and pre- tee
ton Il dom site industry. And Mr..
MApIsoN's conclusive rgument--conclu-
sive as il must be, think, to every cand d
man, - rs that as the States possessed and
exercised this power b'fore the adoption
If the Constitute n, rs they Tarted With it
and transfrred It to Congress; they had n
right to expect that Congress would .exer-
else it for thu ir bene6t.
Now the power Of Congress is to reeu
late commerce, to regtlste trade; aud
what is the ex,ent of that powerl | may
ls,y, geItlem' n, that nobody has disputed
its existence. All English history, and
all american history down TO the time of
the Revolution, show that the power to
regulate trade Mas understood as neccssa.
rily comprising the power oil so doing it
as TO favor homepIedu items. The phrase
had come to be as well as any other ia the
English language from which it was ta-
ken. From the time ofthe Tudors and
StaartS down, the protection Of home pro.
ducts was sought 10 be established by reg
ulations of trade; and IN the conirov, rsies
that preceded the Revolution, the leading
men of those days OTIs and ADAMS, and
other great patriots Of their day, while
u i