Sentinel of the valley. [volume] (Woodstock, Va) 1841-1848, 1844-04-11


! If these were the fruits OF Wing sue
cess, upon an issue concealed from the
people, can any man doubt what would
be the result Of similar success upon
an avowed and open advocacy Of this
measure?
| The question Of the consttutionality
OF Bank has been decided upon by the
people. Since the first reluctant, hest.
tating assent given TO the passage of the
original charter by Washington, after he
had directed veto message to be drawn
up against it, though subsequently over
ruled In his determination by the force OF
an apparent necessity of government,
this measure has had arrayed against it
the formidable opposition Of the Demo
cratic party. 'Fhe plea of expediency,
uttered amid the destruction and RUN
which ensued from the war of the tevo-
luton, was all that overcame the consti-
tutlonal scruples in the way of the first
chartef of Bank. The same plea alone
amid the prostration Of business inter
ests that followed the las. war. procur-
ed ITS re-charter. The FEEDER al Courts
avoided the distinct question Of the con-
stitutlonality of the Incorporation. by
referring to Congress tire decision of the
questions of expediency. BIT the Dem
ocratlc party has uniformly arrayed it..
self against both the expediencY and
the constltutionaIity ola Bank.
MIR. Clay himself, before he sought the
aid of latitadnous construction of the
Constitution, to elevate himself to pow
er, was opposed to a u. S. Bank. i'm
plored Congress not 'to leave the ma
ton at the mercy of corporation, '(what
MERCY the stockholders and biihoIders,
pillaged by its instrumentality, have
since realized, and derded the idea Of
its constitutionaity. Mr.. C1ay's con-
version from this Democratic belief was,
according to his after declarations. the
fruit OF a conviction of the necessity or
expedencv of such an institution.
But does any man believe in the pre-
teEce of sexpedenc,?' Has not the
whole community become convinced that
the business Of the people needs no su
pervision from regulator of this char
acter? Has not the conviction of the I'M
constitutionalty of such an institution,
no longer supported by the pretence Of
expediency, grown stronger and spread
wideIp
What then. is this corporation, which
Mr. Clay's adherents would force upon
the people, but political engine? 1t is
no longer desired by the business in
terests among the people. to regulate the
currency or to give stability to the State
interpretations. The laws of trade have
supplied to currency its only regulator
and time has shown that this huge pow
err was itself the secret source OF lnsta-
bility to all within its reach. II is no
longer claimed by statesmen to be nee
essary to the due exercise Of the other &C
knowle,iged functions of the General
Government. Its, dangerous machinery
may be dispensed with, and the purpo-
ses of Government and the promotion Of
by,other, ard simple, and constitutional
means.
1t is as political engine that it is desir-
ed by the politicians, after it had ceased
to be required by the people. 1t is an
instrument for the aggreyation of dan
gerous powers in the hands Of the Gov
eminent, at the expense of the people
and of the States, and to be used for the
preparation OK the other measures OF
Federalism. 1t is power to holster up
the dittribution and other Federal
schemes already developed, and the as
sumption scheme which is to follow.
If this Bank issue was ever dangerous
it is now infinitely more so. 1t is more
so, because it can never be otherwise
than political machine, political ma
chine in the hands OF Henry-Clay'- HI
bang .Atlas.