The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1844-01-25
300 millions of State debts creating once the apOgy

300 millions of State debts creating at once the apogy
and necessity OF all the rest.
The accomplishment of these purposes would ful6lthe
design OF Hamilton-the creation OF strong govern
ment supported by special interests and rendered indie
pendent of any other will than its own, ard irresponsible
to the people Addt these the abolition ofhe presiden
a veo conferred upon him BY the constitution and
their scheme is perfected and all power vested in
gTeSsiOnal majority
The democratic party on the contrary, contend for
strict construction Of the constitution and deny hatthere
exists anywhere the right to so constue itas by mpli
cation to confer upon the government or any depart
ment OF it. powers where found in that constitution
believing that it best uls the true spirit and design of
the constitution and conduces most the happiness and
welfare the people, when it least encroaches upor the
prescribed limits o. State authory-and least nterteres
with the individual citizens of the several States except
to protect him in his rights and defend him from wrong
where the State governments inefficient Tor the pur-
pose. They are therefore, opposed 10 the whole schem
Of federal whig policy consisting Of Rational bank
high protective tariff distribution ofhe proceeds ofsaes
ofpubic lands among the States the abolition of the
constitutional veto ofhe President and the assumption
ofhe debts OF the several States by the federal govern
ment.
THE DEMOCRACY ARE OPPOSED TO A
NATIONAL BANK:
1st Because the government ofthe United States is
one Of specific and limited powers enumerated in the
constitutions and can exercise no powers not therein
granted or necessary and proper to carry into
effect any OF the granted powers 1t is not necessary"
because every power granted he carried into effect
without the instrumentality Of bank Such an inst
tuition is not necessary to the regulation of commerce
to the coming OF money, or the regulation of the value
thereof nor 10 provide for the common defence and gen
eral welfare" All the important functions of the gov
eminent have been suy and happily exercised
and happily exercised and fulfilled without the aid of
bank nor is it necessary to the collection safe keep
| ing and disbursement OF the public revenue" There
is no power in the government whose successful execu-
ton requires the agency of bank. 1t is not proper
BECAUSE as is not necessary within the intention ofhe
constitutions it cannot be constitutional because such an
institution is variant from the true spirit and genius Of
free Institutions because is inconsistent with and
dangerous TO the rights Of the Staes because it is de-
strucive OF that equality OF rights and privileges that
pertains to free government because tends to depre
cate the value ofhe higher intellectual and moral quail
iies which are the basis upon which depends the sab
iy OF our government deriving its authority from the
popular will by attaching to employment demanding
none of the higher virtues or Intellectual aanments to
large portion the honors, distinctions and emolu-
ments of life. a.t.t. ..4
q Because thelOth article of the Amendments to the
Constitution declares that "The powers not delegated
to the United States by the Constitution nor prohib
ted by to the States reserved to the States respec
lively or to the people," and the power to incorporate
Bank was not 'delegated" to the United States by the
Constitution it is therefore reserved to the Ssates les
Bank by the Government, would be violation of the
reserved rights of the States and the people.
The establishment by the Government of the United
States, of Bank with branches or agencies in the
several States is not only assumption of power beyond
its Constitutional rights and consequent violation of
the reserved abstract rights ohe states but it is an actual
practical infringement upon the territorial sovereignty
of the Sates and the circulation o. its notes within the
limits of State, as an unconstitutional restriction up
on the right of taxation reserved to the States The
States reserved to themselves all powers of taxation ex-
cept the laying of duties and mposs upon imports
exports" They have therefore the absolute right to tax
among other things the paper circulation within their
territorial limits But they denied the right to tax
the paper of bank chartered by the General Govern
ment which may entirely displace their own crcula
ting medium and thus dives the States of all power
l over this subject of taxation.
a 3. Because it was designed by the trainers of the
Constitution, TO deny the government the right TO gran
charter Of incorporation for any purpose. The popo
ston was severaltimes made in the Convention which
agreed upon the Constitution, to confer the power fol
certain specified purposes purposes, and ofen re-
ected by decisive votes for various reasons and fol
this especially that the power to incorporate for any
purpose would be construed by some, to convey the
general power Of Incorporation for every purpose anC
would be made OF to charter Bank They had ir
their day. experienced and learned to appreciate the
f evils OF paper money and therefore desired and design
ed that the government they were framing should es
cape hem by being deprived of the power of creating
or recognizing; as money anything but gold and silver
4. Because the whole power of the Government ovel
the currency conferred by the Constitution is to coin
money and to regulate the value thereof and Of foreign
coins;" whereas by the incorporation of National
Bank it assumes and exercises the power Of regula
ting and controlling the paper currency of the States
as well as of cIeatngand issuing of its own Ifht
states have the right by the incorporation of local Of
state banks to authorize the issue of paper circula
tion it is reserved and sovereign power and thu
exercise of control over it by any means, by thu
, government of the United States, is an assumption O
power not authorized by the Constitution, violation
of the rights Of the States and breach of the fedora
compact. II the states have the right to charter bank
of ISSUE those bank are state institutions responsible
only the states under whose authority they exist and th
general government exercise no control them
either directly by specific legislation, or indirectly
through the agency of national bank But if the go
venment of the United States can make or recogniz
any thing money, except "coin" it is then under
constitutional obligation to Tegulate" it, to assume tn
whole control of it, and at once to dives the States
all power over it. This presents dilemma the onl
escape from which is the recognition of the true primo
pie of the Constitution that the general cover inner
cannot make, in any way direct or indirect recoa
nize, by receiving it as SUCH anything as money br
stcoin" This relieves us of much dIficulty and prt
cludes the federal government from receiving or usn
as money; any paper of banks and tOrtiOri, frol
creating any such paper itself 1t cannot therefore cha
ter bank with the power of issuing paper circulation
it s. Because the government Of the United States hi
no right to confer the special privilege upon few ind
+ viduals, Of using the public money for their pr
vate purposes. The money received in the nation
) treasury is collected from the people, for the commc
}, benefit the support of their government and cam
Justly constutionaly ba appropriated to any purp
ses Yet the revenues of the United States are depos
ted in Bank of the United States, not as species