Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-09-27
s-a---- sss+s .ss-as-aa-e- se-
COMMUNICATIONS.
: the EHquH'
TIT ut 1@HINVt'.
THE ISLANDER D!SPROys.D:
Orhe UR."Fair Proyosi;ioa" aailed 10 he Coantc
NO I'LL

Fcicraist principles, and The euoglSt oi mo-
narchy, as early as ISL, Wrote letter to Gou-
verneur Morris, enclosing an elaborate prolec'
for a Bank" (Sparls's Life ol Gourerneur Nor
riss. |. p. 235) In 1871, he brought before Con
yrcss. as Secretary Of the Treasury, the plan OF
the frs, Bank o! The United States. 1t proposed,
that .',he Subscribers 10 the Bank and their sue
cessorS shall he incorporated, and 80 continue,
a.ntY The fnal redemption ~ ttQt part ct lis stock
which shall consist o., the PUBLIC DEBT DOC
Hist. y. 81: the words themselves OF tiamiitons
plan;) that (ciau>c ~ '.hc totally, "i me cetss ol
the company, irtcther IN tGna, 6W '0'e 0' "'4cr
ronifact, (credi,> ior deFositcs exccp,ed,) snail
q,er,r cyecd tie amopR III is caPi'd| aock: IN case
Of excess The directors. under whose admnis,ra-
ton il shall happen shat bc hoJk for IN fae'r
yrirat, or upqraic eapa6H'aS;' and also that
(clause ol) "the officer al the head OF the Trea>u
r. Department of the United States shall be FUR
nished, from time 10 time, as olfen Is nc mag re-
qu,rc, mt erecting oacc irte&, with statements OF
the amount of the capital stock of the Bank, and
Of the debts due TO the same Of The moneys de-
posted therein of the notes in circulstion, and OF
The cash in hand; and shall have a right 10 in
spcct such general accounts in the books ct ltc
Bank as shall relate 10 the said statements pro
vded that this shall not be construed 10 imllya
right OF inspecting the account OF any private IN
diyidual or individuals with the Bank.
The votes in the debates on the bill in the Sc
nate are recorded on only two Questions: The
vote ortthe final passage OF The Rank Bill through
the Senate i not recorded, hui those on two
amendments which were regarded Is tests.
A motion was made 10 extend the term OF in
CORPORATION TO March 1. lSl5 The vote stood:
YEas-Mcssrs Bassc,t. Dickinson, Ellsworth,
Elmer, Johnson, KING I.angion, MoREiss. Read,
Schuyler and Strong-ll
NsYs-MessrS Butler, Few, Foster. Haw.
kins, Henry Johnston, IzarD, Maclay, Monroe
and Wiagatc-l0.
ON the 2o:h January, 1871. the vote on the pro-
position Ia limit the charter y zen years, instead OF
~. the term final: adopted, stood
YEAs-AlessrS. Butler. Few, Gum, Haw-
kinS IzARp and Mo.RoE--6.
NaY<-MrSSr> Ba>Set;. Dalton, Dickinson.
Ellsworth Elmer, Foster, johnson, KING Lang
don. Maclay, NoRpiss Read, Schuyler, Stanton.
Strong and Wingate-l6.
Here we find The leading Fedcrali>,s Rufus
King, Morris &c, for the Bank: Mr.. Monroe
and the Republicans asa,as' il.
Two unsuccessful attempts were made tos,rikc
out the clause prohibiting the creation Of another
Bank, during the tenn Of incorporation then
created and a motion was also ms3c 10 linii! tie
term 10 seven wears bat !; passed in the negative.
doc Hist, il. 81.
In the House IL Representatives ~ the passage
of ,te bill 10 lis ,hgd rcaGiie il was "elemenl'y
opposed by Nj u ,p:so,;. Ar. Guys. tir. JAcS-
srN and MI Stone Mr. Jackson urge: inc
nncoaS'j:R!i0fatlg Of II. plan 2r;I read seFe-
raj passages from tie Federc>., which,. h said.
were directly CONTRARY 10 ;hc assumptions Il fc
power propose. IL i;e BIZ tDec. fiis'. =. 81
Mr.. Lrs objected II various paris OF tie oil
which n. tkqu.h: rcry cyceptoiahle Doc. Hist
D. 3S) Mir TCcKsG stated >Ir.ry Col:ct - 70
the hill" ,E0 Mr. Sroxr and Mr.. CITES. OF
ec,ed 10 Inc uncons:.'u';ena!;;v O. II. bin f;icc
Hist. 2. 81 81 E,yisoT 'onserTst 10 h'nlscli
tie riSa- 10 fel5 - 1li7oFH u ton:rcsS 20 pass
In. bill II ee'eteirsf ~. r2i-'a from III Gct.
81 iI< Constitution. Hi, imp.es.i-" might per
bar. te Inc Stronger. i@causs ne wei reco.lscc.,
that power 10 eraEl chart r. q Incorporation had
F,ca p.ocosed IN tie General Convention and re-
i.c;edr Again. after some general re.nerxs on
the limitations Of all political powc! 'c took no
lice ot the pccu iar manner IN whic. ie Federal
Goyernmen, IS limited. II is Nc: cry { Genera!
grant, out Of which particular powers are tx
ccped- is 4 grant o! particular power eavin@
lie general mas, in other hands 50 i. hal bccn
understood hy il friend. an! il foes. and j;
was 10 he interpreted" doc His. p. 800 "EIc
had adverted 10 distinction which Re said had
not been sufficiently kept in view. between :; pow
er necessary and proper IL. Inc Gorcrnrcn, or
Union and power necessary tor cNrcu!iag The
enumerated powers in the latter cas-. The pow
erS included in each OF the enunera'cd powers
were not expressed. but To Ire drawn irGGl The pa
turc OF yach In The ioracf tae pnwe:> coape-
sing the Go.crnmeu;, wee eXpccs>l" enumerated.
This constituted ts.c ;ccui-- nature al tie Go
vcrnmeut; NJ io.re', therefore, net capmc~a'.I,
coud lie inieTrci from the geac,al natn!c o! Go
yc.nment" doc Hist T. - MIR. Ames and
Mr.. Seigwick, both subsequently, Fcderals.>,
took ground in reply, that the Government nigh,
exercise implied powers aud advocated The most
la,itudinarian construction OF the Constitution.
doc Hist ~ i5 To So Mr. Lawrence, in adj
a, 49, ~ ,l.,
there is nothing in the Constitution expressly
against it, and therefore, We ought not 10 produce
a prohibition by construction doc. Hist p.
53) TIc also asserted that Congress had tire
power IL establish companies with exclusive rriri-
l.ges" doe. Hist. p. SD Mr. JACKSON saidt hGtlhc
expeliencv and c0aStiuiaoral,fp OF Ike hill had
been called in question by the newspapers OF
Philadelphia Documentary History page Sd
"1Hc Untrue copicnaed fer IN ccrSruiMg he
COnNit!iiOa on kS,s ocrasion. he rcpyo+1isG rcrn
fuHn"--( Documentary History. page 55.)-Mr.
Boudinot (Fcieralist) asserted III. constitution
ali,v OF the Bank on the most lai,tudinors
grounds Documentary History, PIP. 55-t2)
MIR. Smith, ol South Carolina. (Fedcralist) adj
vocated the measure, and I'm reference 10 con
strung The Constitution, he observed, that the pre-
sent moment, when the powers Of the Govern
ncnt were as>aiicd from various quarters. he
conceived the mos. improper 10 contract those
Mr. Stone observed thai upon the present occa-
sion The opinions respecting the Constitution
seam Ia Re dirided bq a ccogrcptlrol Inc, dividing
The continent - Documentary History. PAGE
Gf )-He asked: is there any difference, in ct-
feet between lodging general powers in Go
vcrnmcn,. and permitting the exercise OF them
by suite Constructions He said there vas = dit
ference--in the one case the people ia'r!; gave
mp their liberty. anG stood prcparcd-in he o'hcr,
~, -ft,;o nj
ii,ion''-( documentary History, page 66 l-"ie
observed, after taking view OF these praceden;S,
on the danger o. laying down improper principles
in legisiatiun--how eagerly men gra>fcd II TIC
slightest prelex,S Tor the exercise o; power. lie
shud9ered 10 think what broad aud commanding
position this Bank will form for farther cacrcach-
incns. - Documentary History, page CD
"Hc said il was one Of those sly ana subtle more
menls. which marched silently 10 lis ob'ect--,hc
vices Of it were q, first not palpahle or ohvous-
bat when The people SAN a destruction ct BsnkS
crcated-whcn they viewed with establishment, he
train Of wealth which followed individuals
whose sudden exal,a,ion surprised even the pcs
SCISSORS they would enquire how this all came
about They will then eXamin" into me powers
hy which these phenomena have arisen ano
they will linl they will rcprohaie The ialsciioad q
The theories Of the present day. K Documentary
History. page IS And so they did in the great
civil Revelation of 1900. He said at eyIc-
diencv. if convenience. facility Il fears OF war
if preparations for events which E!i.hl never
happen, can justify IN incorporation nnon lie
present plan. The same suggestions. the same
logic will legaiiZc ncorpora,ou> with exclusive
privileges The deductions OF the gentleman
from Virginia, (Mr. Malison,) are sonnd and
right, ami cannot be fairly con,rorercd. Con
src>s NAV then DO ANYTHING. Nay, il the prin-
ciples now advocated arr right, j, is the dn'y Of
The Legislature Of the Union 10 make al laws.
not oalr those that are necessary and rrope, 10
carry the powers Of tn Government into effect,
but all lars tiat &c corrcRicm, GpFa,eat end htFf-
fetql 10 the United States. Then, where is your
Constitution Z Are We not now sitting, in our