The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1843-07-13
THE cANVASs-No. M


We promised in our lasi. if uoslssr
prevented. 10 take up Ibis week he COW.
lion Of Bank or The United States, add
discuss ils eonslilnli0nalily. sxpediensy,.
&s.; and though somewhat pressed ior
time. orr anxiety TO have Ibis question
properly understood BY The people has
induced us 10 attempt abrief notice of Inc
facts and arguments lhs, may be hrOaghl
10 bear on II.
Gen. Daaiel. in his speech in Ibis place.
70 which We hare before alluded, declar-.
ed Bank Of the United States 10 be IN.
constitutional, and pronounced il Fsde-
raj measure. Lei " examine these two.
positions iniheir orde.
LIST. IL o Bank umeonaifuiiOnGl2 In
all controversies where doubt exists. ais
usual to settle the difference By The weight
Of authority. The first Bank Of The Unit
ed. STATES was chartered during The admi--
nisiralion' Of Washington, and received
his signature afier that mature delibera-
lion which characterized all his acts.
This Bank continued in existence during.
the whole period Of Mr.. kiFrsonis adj
ministraiion, and in The performance Of
the objects Gifts creation received bis full
assent and eounisnanee; in fact he gave
his official sanction, 70 the establishment
Of al leas, one Of The Branches Of The
Bank. The charter OF the old Bank cx-.
pired in 1911, during the administration
Of Mr.. Madison. he experiment was.
then tried Of administering the govern
meni without such an insiilusion,. Cor Mr..
Madison, like Mr.. Clay, at that time be-
lieved a Bank unconstitutional. Some
tinlc interviewed before another effort was
1 male To establish a Bank. and he same
inconvenience anal difficulties that We,
are now suffering under, we're then ex-
Perieneed by the country. The. expert
ment proved satisfactory to Mr. Madison.
He became convinced that a Bank was,
necessary TO the due administration Of
the governments, and determined az once.
TO retrace his steps. In his message To-
Congress in 1915. Mr.. Madison recon-
mcnded The establishment Of a Nalionah
Bank. So, then, we have the concurrent
opinions of Washington, JefIerson. and
Madison, in favor Of the cons,iinsienaliiy
Of a Bank. But il is said by tue oppc--
nents Of a Bank. that Washington signed
the charter with great hesilancy. that JEFF,
ferson had once given his opinion against
its constitulionalily, and that Madison
signed it under the peculiar exigencies
created by the war. In.opposition to all
this we have to say, in lho.case OF WASH,
lington and jefferson that their hesitation
at the outset, and THAR final decision tn
fdconr of its constitutionaliy, makes the
argument still stronger in, favour Of the
Bank; and as to the peculiar exigsncies'
in Mr.. Madison's case, we will remark.
than the same difficulties eSis, now that
were then felt, and whether created by
war or by some other cause, the people
have right TO- demand OF thein govern
mcnt the exercise OF its power for their
relief. But we should bear ia mind that
The decision Of Washington, ",he father
Of his country" and Of Madison, " the
lathes of the constitution" on this impor-
tant subject was made afipr having taken
an oath TO support the constitution; and
we may suppose they would deliberate
well, and have the question clearly set
tied in their own minds, before they would
act in the matter. There canbe no doubt
about the correctness Of these facts; and
as we have al hand, an extract from Mr..
Madiscn's message to Congress in de-
oember 1916, which shows how decided
were his convictions Of the constitution
alily Of Bank, we give il here to remove
all cavil. He says:
!. "ltis Obvious a,a, hiere is only wan'-
ing 10 the fiscal prosperity of tho Govern
meni The restoration oil an uniform meoc
umL ofexchange. The resources and lai'"
Of the Nasion displayed. IN the system
which Congress has established, ensu's
respect and confidence q home anu
abroad. The local accumulstians o. INC
revenue have already enabled The treasury
10 NEE. The public engagements IN 'oI
!. local currency Of mos, Of the States ann
IL is expected that the same cause WIZ
produce The same effect throughout t'a
Il A a nj la