The Arkansas banner., 1844-05-22

the Constitution, that does not kllOW the cH- cumstances under which Washington signed a charter for Bank, were far different from those surrounding us al present. Even then. before all of those restrictive clauses formed a part of the Constitution, and when the cir cumstances that surrounded Gen, Washing ton were of most peculiar character; such as have never existed since, and never will again and when if there is any state of cir cumstances that can be imagined that would make Bank necessary, those surrounding Gen. Washington were the very strongest Even then he was in such doubt, as to the power of Congress 10 charter Bank, he called upon his cabinet officers for their opinon.- They differed equally; and he withheld his sig nature to the last moment he was authorised to retain the bill have no hesitancy in the belief, that had the Constitution been then as Ii Is now. and the circumstances that exist now, had existed at that time, he would have put that venerable hand into the slowest con- suming taper that is, and let it burn off before he would have approved a charter fora Bank. More particularly am impressed with this belief, when, subsequently, in writing to a friend, he declares himself against paper circulation. These facts standing forth in the history of the country, and in defence of the position the father of his country occu- ped-still we meet with that Ssparrot learn ing" that Is in the emouth of all of them, and uttered without an effort of the mind, that '.f going for Bank and for broad con struetion of the Constitution is Federal doc trine, then George Washington was a Fede- ralist." It does seem to me, when politicians are driven to this alternative to support their position, their cause must be desperate.
 But, gentlemen, for what do they want a Bank at present? Not, certainly, to regulate exchanges, for there never was a period in the history of the country, when exchanges were lower, and more easily obtained than at present. It cannot be to collect and disbu1se inc public revenues, for there Is no difficulty upon that subject at present.; and during the existence of the 'sIndependent Treasury Sys- tem,8 the revenues were collected and dis bursed without the loss of dollar, and with as little expense to the government as under any system that can be devised. It cohnot be for the purpose of regulating commerce, because 1t is now in a more healthy state. No principle Is more true in political econo- my, than that if you force commerce by acts of legislalation, you throw 1t out of its regu- lar channel, and Arrangement and commercial eonyulsions will be the heconsequence. When, if you leave 1t to be regulated by the great laws of trade, stability. permanency, and a general prosperity will prevail. But they say, 1t is absolutely necessary to charter a Bank of the United States, to regulate the State institutions. l must be allowed 10 de- clare {without meaning any disfespectl that 1 regard this declaration as being unpatriole -anti-American, and Federal in the highest extreme. What Is its substance? Nothing less, than that the people are not competent to regulate institutions they have made. Bu1 to enable them to govern themselves proper ly, 1t Is necessary to locate in the midst ol them, all irresponsible monied corporation irresponsible to the people or to the govern ment. The principle contained in that sen timent, is stab ct the formation of our sys- tenn of governments; based, as 1t Is, upon the virtue, intelligence, and capability of the people to govern themselves, as well as the institutions they establish. If 1t is true Gas alleged by the leaders of the Nhg party,
 that Bank of the United States is absolute ly necessary to. enable the people to gel along prosPerouSly, and to govern institutions they establish, then you make this government of the Bank and not of the people, From which, hope this country will ever be pre- served. For, if the time should ever come, when we will be compelled to obey the man. dates of soulless corporation, instead ol the voice of free people, the manacles ol oppression and slavery will have been iasten- ed upon Us, and instead of transmitting to our children glorious inheritance, in the form of free and happy government, we transmit them oppression. slavery and dl5- honor. Certainly none will be reckless enough in assertion to declare, that a Bank of the United States is necessary to afford a sound circulating medium, when the history of the currency connected with the late Baul, for the first six or eight years of it's existence was characterised by as unusual and unstable a circulating medium, throughout the Union
 as at any subsequent period of the govern ment. The remainder fits existence was no thing less than vast scene of speculation
 fraud and vilainy-a system of contrac- tons and expansions to suit its ambitious and corrupt views; and in its last days 1t came into the political field, contending for mastery against the government itself All this will be manifest from the report made by the stockholders themselves, after Nicholas Bid- dle, & Co, had been charged and arrested fer the fraudulent management of the Bank Thus, it seems to me, that t is mmaterial n
 what light you view a Bank of the United States, 1t is manifestly inconsistent with the genius and spirit of the government, and dan- gerous to public liberty. The limits of ar address of this kind, gentlemen, will not al flow me to 90 into this subject lurther-others press themselves upon me.
 Gentlemen, 1t has always been a source ol profound astonishment how any man who resides in the south or west can consistently advocate a law of taxation Ia tariff for pro tection) by which one portion of the country is taxcd for the benefit of another-hN which