Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-04-25


Ofresponsbility of debtors 10 their cred.
itorS. Congress have the power 10 e.
rect an artificial body, and say it shall be
endowed with the attributes of an indi.
vidual-ifyou can bestOw on this object
Of your own creation the ability to con.
tract, may you not, in conlravention Of
state rights, confer upon slaves, infants
and females covert, the ability 10 con-
tract2 And if you have the power TO
say that an association Of individuals
shall be responsible for their debts only
in certain limited degree, what is to
prevent an extension Of similar exemp.
tions to individuals2 Where is the limi.
tatiOn upon this power TO sci up corpora.
tions? You establish one in The heart of
a state, the basis ofwhose capital shall
consist Of land, slaves and personal es'
tate, and thus the whole properly within
the jurisdiction of state might be alb.
sorbed by these political bodies. The
existing bank contends that it is beyond
the power ofa State to tax it; and if
this pretension be we'll founded, il IS in
the power Of Congress, by chartering
companies to dry up all the sources Of
state revenue. Georgia has un dertaken,
it is true, TO levy tax on the branch
within her jurisdiction: but this law; now
undera course of litigation, is considered
as invalid. The United States own a
great deal OF land in the State ofOhic :,an
this Government, for The purpose of
creating an ability to puchase it, charter
a companyP Aliens are forbidden, be.
lieve, in that State, TO hold real estate
could you in order TO multiply pure has
sers, confer upon them the capacity to
hold land, in derogation Of the local law
imagine this will hardly be insisted up
on: and yet there existsts a more obvious
connection between the undOubted pow,
er which is possessed by this Govern,
ment to sell its land and the means ol
executing that power by increasing the
demand in the market, than there is be-
tween this bank and the collection of a
tax. This Government has the power
to levy taxes-to raise armies-provide
a navy-regulate commerce-coin mon-
ey, &c. &c. 1t would not be difficult
to show as intimate connection between
a corporation established for any purpose
whatever, and some one or other of
those great powers, as there is between
the revenue and the Bank Of the United
States
Let US enquire into the actual partici.
patton of this bank in the collection of
revenue. Prior TO the passage of the
act of 1900, requiring the collectors Of
those ports of entry at which the prInci,
pal bank or any of its Offices are situated
10 deposite with them the CustOm. house
bonds, it had not the smallest agency in
the collection Of the duties. During al,
most one moiety Of the period to which
the existence Of this institution was lim>
tied, it was no way instrumental in the
collection Of that revenue TO which it is
now become indispensable! The collec.
lion; previous 10 1900, was made entire
ly by the collectors; and even at present
where there is one port Of entry at which
this bank is employed, there are eight or
ten al which the collection is made as it
was before 1900. And, sir, what does
this bank or its branches when resort is
had 10 itg It does not adjust with the
merchant the amount of the duty, nor
take his bond; nor, if the bond is not
paid, coesce the payment by distress or
otherwise. In fact II has no active agen'
cy whatever in the collection. lis opera
ton is merely passive: that is, if the OBJ
Igor, after his bond is placed in the bank,
discharges it, all is very well. Such is
the mighty aid afforded by this tax-gath-
erer, without which the Government can
not get along! Again: 1t is not preten'
ded that the very limited assistance which
this institution does, in truth, render, ex
tends to any other than single species
of tax-that is duties. In the collection
ofexcise, the direct and other inlerna
taxes, no aid was derived from any bank
It is true, in the collection Of those tax
es, the isrmer did not obtain the same in
diligence which the merchant receives i
paving duties. But what oblges Con
gress 10 give credit at allf Could il nc
demand prompt payment of the duties
And in fact does it not so demand in ina
ny inslances2 Whether credit is give
or not, it is a matter merely Of discretion
Ifit be facility to mercantile oPerl
tions, (as presume il ISL it ought TO b
granted. But ! deny the right to el
graft upon il bank, which you cann'
otherwise have The power 70 erect. 70
cannot create tke nccessity Of a bank, az
then plead tkGtnecessity for It's establish
ment. In the administration Of the
nsnces, the bank acis simply IS a payt
J and receiver. The Secretary Of u
; Treasury has money in New York al
F.. wants il in Charleston; the bank will ~
} nish him with check, or bill, TO NAL
f the remittance, which any mercha
g would do Just as well.
f Twill now proceed to to show, by IA
) actual experiancc. not .heoreuc reaso