The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1847-03-19
SPEECH OF
Beninmin z. IlEetcRlf,

1
Against Legislatius Uswpation, and ia fa
uor Of taring Bank Capital like sihel
property--SesSioa Of 1857.
Concluded ...
shall now proceed, Mr.. Speaker, 10 yer
liy my second proposition which denies tina
power to incorporate any bank, can be got ii
Ohio by implication or argument. We have
seen that the legislature was created to eaac
laws lorthe regulation of the people, and that
these must be general laws and not special
charters, if they would be authorized by the
letter OF the constitution. Now then, on
what sort fpretence for argument is the
implication which the banker requires, rais-
ed in his behalf, against the design and scope
OF that instrument? To this staggering ques-
tlen none but master spirit can attempt an
answer, and consequently the great leader
and idol OF the whig party has been invoked
Gen. Alexander Hamllion--ihe pride and
reliance of the palmy days and choice spirits
ofthe old federalists, and as dear now to their
political descendants, as he was TO their an.
cestors. His pithy and plausible reply has
been ever since it was uttered, the buIwark
ofspecial privilege in the United States
He was answering for the first bank of the
United States, and his opinion brealhed the
breath Of life into the nostrils Of that insttu-
tion. | will not clam any advantage over
the bankers in this discussion, because that
ill:.starred monopoly was made immortal only
BY its crimes. ~
Hamilton said tha, il acas incident TO all
soUeregn power 10 gran. letters of ineorpora-
ton, and there that Congress had the in
herent right, without any constitutional grant
of power TO charter the bank Of the United
States.
This is tho core of his argument on that
great original sin ofthe Federal legislature.
And it has not only never been amended, it
has never been altered. 1t was oyerthrown
by Mr.. Jefferson in u reply of more ability;
but it prevailed with Cougress, and is the de-
fence ofall the monopolsIs 10 the present
day. Aad yet, Mr.. Speaker, it is weak and
Illogical; because its premises are contrary
to the whole theory and organization of
our whole governmental system; and because,
you grant the premises, the conclusion isa
non seguitur. The premises are however even
more erroneous than the conclusion.
There is a government which is 'sover-
eisn," and that is the government of Eng
land, for which General Hamilton felt and
expressed decided admiration. BY its
political science, the parliament, that is, the
Queen, the Lords, spiritual and temporal, and
the commons, which is an union Of the chief
executive Of the Kingdom, with the legisla-
4ors--the parliament, say, is emuipotent.-
The British Parliament, j. is lamiliarly said,
is omnponent; cit can do any thing 5nt
conyer, woman into man." In England,
therefore, this parl is sovereign, and
has the power to incorporate. lime does
not allow me TO explain her mixed consIltu.
ton; but it is very certain that charters may
be granted in England by parliament, be-
cause, by what authority know not, but BY
some authority, it has appropriated 10 itself
the sovereignty, which according to all cor
rect philosophy belongs to the people. BY
a stranger contradiction, the crown may also
grant charter, and even dissolve the parlia-
meHt a
Taats Il alone is sopereign, and no other is
sovereign ,chich has anything in the State su-
perior to it. Hence the parliament ofGreai
Britain is not supleme within certain de-
parimcnt merely, butit is tho vortex Of ak
sovereignty, and forever holds up to the
world the abstract spectacle ola government
to the people. And under such
to which General Hamilton and
his followers would have US return, his prop
ositon Of the legislative right to charter
banks might find its premises. But no such
discovery can be made in this free country.
England has no written constitution, and
nower there has drawn all things to itself in
a succession Of ages; but Ohio has q written
constitution. Power here can draw nothing
to itself beyond the letter of lis warrant |
do not DENY sir, that the branches ofour gov
eminent are supreme, each within its sphere,
butI do deny the sovereignty of each, or Of
the aggregate. ~,
Further sir, the conclusion ofGenaral Ham
.ilon is impossible, granting the premises; for
on any accurate statement Of his theory, no
thing less than tho entire government can
ft9ti fiti .fl~ .t- 4t'i'sN