Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1844-05-17
SOUTHERN STATES.

From this table ii appears that tho Northern
members voted against tho Bank-thc Middle
States were nearly equally dvidcd-thc Western
States gave 4 majority OF : for 1t.
1t was by the vote of the Southern States, that
the Bank of 1916 was carried they gave ma
iorty of Is in its favor, which bore down all OPP
position, and trumphantly carried tho measure.
Had they not given their vote as they did, but
would have boon lost beyond hope. The vote
would then, be 50 against 10 IN favor OF a
Bank 1t was therefore Southern measure car
ricd by tho Republican party. II Virginia,
South Carolina, Georgia. had been disposed to
defeat it, it could have been easily effected. 1t IS
a remarkable fact, that while South Carolina
raye sovcn out of eight votes in favor OF the
Bank. Connecticut, the land Of Blue Lights, IN
which the Hartford Convention held its meeting,
gave five out of seven against It, How, then can
Henry Clay be stgaatzed as q fedorallst for his
vote on this occasion. any moro than John Z. oal-
houn. who voted with the seven from his State,
in favor of tho Bank! We have this gontle-
mans own assertion for proof, that had it not
been for his efforts, ;. the Bank would not have
been Charte red.
But thero arc some persons who do not believe
in the immutability Of principle, and who seem to
think that what Republicanism in 1916 may
very we'll be Federalism now. For the beneht
of such quote the following extract from
the speech of Mr., Calhoun in 1882.
u must content myself with saying that. hav-
ing been on the political stage without Interrupt
ton from that day to this. (laving been an atten-
tive observer of the question OF the currency
throughout the whole PERIOD the bank has been
an indispensable agent in the restoration OF specie
payments. that without 1t. restoration could not
have been effected, short of the utter prostraton
of all the monied institutions of the country, and
an entire depreciation of Bank paper; and that
it has not only restored specie payments, but has
given currency far more uniform between the
extremes of the country than was anticipated or
oven dreamed of at the time of its creation.
Thus it seems. that late as 1882, the great
leader of the .'chivalry.'' looked back with COM
placcncv. the act. which, if 1t devoved d.
rect violation of the Constitution. he was bound
as an honest and patriot, to regard as the
! most unfortunate of his whole existence F!
We have heard some of those persons who at
tempt to cxtricatc themselves from the ridiculous
position in which the passage of the Bank bill of
1916, by the Republican party. places them.
when aiken in connection with their present opin-
ion of its Federal tendency. assert that it
passed against the wishes of the constituency, of
those who voted for it. To this we reply, that
the proper place to have testified dissatisfaction
would have been at the polls; yet we do not hear
that any of them woro left at home, on account
! of their votes. On the contrary. Mr.. Madlson's
Administration was triumphantly sustained thro'-
out. by those who were elected under his success
sor. Mr. Monroe. Some discomfort however, was
expressed. and the Legislature OF Pennsylvania,
adopted the following Resolution in 1928:
THAT Congress should make no laws to incor-
porate a Bank. or other monlcd institutions ex-
cept in the District of Columbia"
This being referred to select committee OF
the LEGISLATURE of South Carolina. that commit
tee reported preamble and resolutions disagree
ing. In the preamble we find the following pas
sage
Your committee are unanimously of opinion,
~, ,sC tint
the right to incorporate a Bank. it would be III
wise and impoltic to restrict its operations within
such narrow limits as the District of Columbia
They apprehend no dangers from the exercise OF
the powers which the people of the United States