Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-10-10
From tic Nor York Nc,rs.l
\ LAY SERMON ON THE CHARACTER
AND CAREER OF CLAY AND CLAY

One side:
" That holding the opinion as a majority oil the
committee do, that the Constitution dii MT cutie
r'-c Congress originally 10 gran, Tie charter, i!
follows, IL necessary consequence oflhat opinion.
that an extension Of it, even under the restrictions
contemplated By The stockholders. Is c;uaiy trgas-
mint h he C2EaIHt,oa.'- yiog'S Ligon, IN he
.ScHaic. M!2ch ~, ISL
Again:
Il conceive, then Sir, that We are not cmpow-
cred by the Constitution nor bound bv any prac-
ticc under it 10 renew The charter of this Bank. and
nigh. here rest he argument"- CMy's .Spec,i
IN 1911.
In all cases where incidental powers are act
ed upon, the principal and incidental powers ough,
10 be congcnal with each other. and pallakc of
common nature. In other words, under the
name OF accomplishing object, which i, spc-
Gifted, the power implied ought not 10 embrace Oh
Jcci> not specifically mentioned II, then, Il Bank
IS established because il is necessary 10 collect
anddi>ribuie The revenue it Ought 10 lie restricted
10 such collection ana distribution. Could YOU.
under the power 10 lay and collect taxes establish
a Judiciary -? You say to This corporation. we
cannot authorize YOU 10 discount bills and notes
and 10 i>.,ic paper, to regulate commercc-no our
book has no precedent OF shat kind. But W. can
authorize you 10 coll,c, The revenue, and whilst
occupied with that, you may do whatever else YOU
please - .San,c.
What is corporation, such as the bill con-
templates Il j, \ splendid association Of favor
cd individuals, taken from The mass Of society,
and invested it'll exemptions, and surrounded by
immunilics and privileges. - Stnc,
Tie power of nation i. said 10 consist in the
sword and the purse Pcrhap- al last all power
is rcSolyahse into thu; of the parse, for with il YOU
may command almost every hin. else. The
specie circulation Of Ike United States is esma,-
ed by some caculatorS al len millions Of dollars;
and if il be- no more, one mCieiy j. in the vaults
Of this Bank. Alav not the time arrive, when
the concentration 81 such q vast portion o. the
circulating medium 81. the country in the hands
oil any corporation will lie dangerous 10 our H.
berries By whom is this immense power WELD
ed 2 BY q body that, in dcrogaiion OF the great
principle OF all our acknowledgements
10 the peoples amcnahc only 10 a lew stock
holders, and they chief; foreigners suppose
an attempt to subvert this Governments would
no, the traitor first aim. by force or corruption,
10 acquire The treasure oi this ccmpany?"-L S1mc.
The other side:
The existence Of local banks, under the au-
thori;v and control of the respective States, be-
ge.s necessity Tor United States Bank, under
Inc authority anl control OF the general 'overn-
men,.
We want national army, national navy, a
national pos, office establishment, national laws
regulating Our foreign commerce ard our coast
ing trade; above ali. perhaps We want national
currency
The necessity al 4 national institution docs net
result merely irom The existence OF local instit.l-
tons. bat it arises also out OF The tact that all the
treat commercial nations Of the world have their
banks England, France Austria, Russia Hol-
land, and all the great powers Of Europe, have
heir national banks (2aDS spccci dt Raicigh,
ipr! - 1871.
Mr.. Clay then came forward in Congress
with his plan OF bank, as follows:
u The capital not to be ezlravagantly large.
but at The same time. amply sufficient io enable II
to perform the Eecdiul financial duties for the
government; 10 supply a general currency OF
Uniform value throughout the Union; and To ia
ci,ate, as nigh Is practicable, The c7uaic atoa 81
ioacS'ic cIci0ncc He supposed that about fifty
millions would answer al those purposes. Tie
aock ,aigM be diridcd heitrecn NE general "orera-
wcaf. TIC SUITS rccndia- IN ttcn Ecdcrm popu!a-
item. md iaGjridrai spLscribcrS; The portion as
signed 10 the latter TO I've distributed al auction oI
BY private subscription Il Lyr Of C'oA z. o.
TEXAS.
Mr. Claws Raleigh letter OF April II, 1871
ispervaded hy a general and decided opposition 10
annexation:
L
ne. points to the duty oi rendering the present
members happy, prosperous, and satisfied WIN
| each other rather than Ia attempt 10 introduce
alien members, against the common consent, and
with the certainty OF deep dissatisfaction. Mr.
| Jefferson expressed the opinion, and others be-
| Iic.cl, that il never was in the contemplation o.
the igamc:S OF The Constitution To add foreign ter
| rory IL the Conlcdcracv, utt Of which ne"
states were to lie formed The acquisition o.
Louisiana and Florida may be defended upon the
peculiar ground If the relation in which they
stood To the States OF Tie Union. After they were
admitted we might well pause awhile, people on
| East wastes. develop our resources prepare the
| means Of defending what We possess, and aug
! merit orr strength. power, and greatness. II here
| atlcr further territory shoUhi be wanted for IN in
! ,rcaScd population, we need entertain no appre-
hcn>ion bui that it will Ire acquired hy means, i
is 10 he hoped fair, honorable, and constitutional
In ;hc tG;nre progress %
events. il is probable that liierc viii nc voIan
| AIRY OF t0rcihlc separation Of the British Norii
! lncricar possessions from the parent country
am strongly inclined Ia think that il will b.
hes; for the happiness Of all parties that. IN tina
event they should I've erected into separate an(
independent Republic. With the Canadian Re
public on one side, that Of Texas on the other
and the United States the friend Of both, between
4
Such constitutions. laws and measures, as werc
| hest adapted TO lis peculiar condition. They
would be natural allies ready rs cooperation Il
repcl any European or foreign attack upon either
| Each would afford secure refuge 10 the pcrsc
cu,ed and oppressed driven into exile by either o
Tie others They would emulate each other il
| Improvements in free institutions AMI in the sci
ence OF scf.pvcrnmeni."
The other side (halt way:
ashland, july Ist.--Personallv corld have
no objection 10 the annexation OF Texas.
The other side Completely:
ashland. July 21t!-Bul. gentlemen, YOU arr
DESTROYS Of knowing bv wha, policy would b'
guided. in the event Of my election as Chief Ma
g:siraic of the United States. in reference 10 th'
question OF the annexation OF Texas. ! do no
! think il right 10 announce in advance what vii
be The course of future administration in respec
10 a question with a foreign power. have, how
ever no hesitation in saying that lar from hdv
ng any personal objection 10 the annexation o
Texas, should he glad TO see it-wthout dis
honor. wihou; war with The common consent o
the Union, and upon just and fair terms.
II do not think that the subject OF slavery ough
10 affect the question: one way or the other
Whether Texas be Independent or incorporated II
The United States, do not believe il will proon:
| or shorten the duration OF that institution. II /
destined 10 become extinct at some distant day, IL
nv opinion. by the operation OF the inevitable
laws of population. Il would be nnwise 10 re
fuse a permanent acquisition which will exist
long as the globe remains on account OF TEN
porarv institution.
an the contingency OF my election, 10 whlc
you have adverted, if the affair Of acquiring Tex
as should become a subject Of consideration.
should be governed By the state Of fact and III
state of public opinion existing at The time
might be called upon TO act Above all, shout
be governed by the paramount, duty OF preservin
the Union entire and in harmony, regarding It,
DO. as the great guaranty of every political an
public blessing, under Providence, which, as
free peop,e, we are permitted to enjoy