Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1844-06-20
MIR. STUART AND CAPT. TYLER.

AS no notice has been taken by Mr.. STUART
of the long suppressed letter of Capt. TYLER
in relation to the controversy between them,
published in the last Spectator; and especial
ly as its publication now is set down some
what to our account, we have thought il
would at least be excusable, if not decidedly
proper in us, to see that no injury is done TO
him by it, from The only cause likely to pro-
duce it-namcly, lapse of memory in the
reader in regard to the facts. In doing so,
however, we shall aim to be as brief as pos
sible
Capt. Tyler says, in his letter Of the 9th of
February, just published
'''rme charge which Mr.. Stuart makes Is an
Isolated oness 1t is that he has committed in
black and o6hiie TO the last Bank bill which We
toed. deny roundiy and fully this charge. An
issue is thus formed between us. He exhibits
the paper and it contains distinct denial of the
principle involved in the returned Bill. That
Bill proposed TO establish Bank and to claim
for it authority TO establish agencies in the differ
ent States, to sell and purchase bills of exchange
by the mere force of the act itsef-thus ASSERTING
LOT congress plenary power over the whole sub
Ject. The amendment proposed by me denies 10
Congress plenary and uncontrolled power but
renders all lis action subordinate to that of the
States. II says, in substance, Congress may act
as local Legislature for the District of Colum-
5ia, II may act in that character but its powers
are no greater than those Of any other legislature
The Supreme Court decided that a Bank of Penn
sylvania could establish ar agency to deal in the
exchanges at Mobile in the State of Alabama''-
'nnless prohibited by the State Of Alabama'-
Congress may take the same power over the
q hat x,I
more" Such was The character OF niy commit
mens IN writing to MIR. STUART
Now let MS see what the paper really was.
which the President acknowledges he did
approve, as the basis of a new Bank bill. Mr.
STUART, in his publication Of the lst of Feb
ruary last, thus introduces it:
"The paper which we had before us wasinteDd-
ed as substitute for the 9th fundamental ar,i-
Gle. and was in the following words the addition
made by The President in his own hand writing
being embraced in brackets and printed in italics
and the memorandum written by me under his
instructions at the bottom.
10th. 1t shall be lawful for the said corporation
10 establish agencies TO consist of three or more
persons, or, in case such agencies are Cr6idden
6y me la,cs Of tie Sfdte] TO employ any bank or
banks, al any place or places they may deem pro-
per, TO perform the duties hereinafter required of
the said corporation as the fiscal agent Of the Co
vernment, and TO manage and transact The bust
ness OF The SAID corporation, other than the ordi-
nary business OF disconnting promissory notes
That is to say, the said corporation is 10 have the
righ, at such agencies 10 receive deposits, TO deal
or trade in bills of exchange, gold or silver coin,
or bullion, or goods or lands purchased on execu-
ton or taken bona fde for payment of debts, or
goods, which shall be the proceeds of its lands,
and TO circulate its notes.
tCapital $4,000, 000-to he increased at option
oil Congress when public interests require"
beg leave here 10 remind the reader ;bat the
I 9th fundamental article was The ONLY point of
difficulty with the President. He had no scru-
pies in regard to any other clause of the Bill. If
his objections that point could be overcome his
sanction Of the bill was ensured"
The correctness of this paper being fully
admitted by the President, the only question
which remains is as TO the proper consruc-
ton to be put upon its language. Then, did
IT, or did it not give power to the Bank TO es-
tablish Agencies in the States without their
consent' Assuredly it did: as plainly as Ian
guage could convey it. The only Limitation
or qualification to this power was, tina, in case
Of States objeciing TO the employment Of
individual or Independent Agencies, then the
Bank was to employ State Banks. Thus il,
was still TO have its Agencies, full and com
pleie in all their functions, of the one kind or
The other, whether State assent was given or
withheld.
Here, then, the whole matter is brought