The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1848-12-06

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he stjsaiahs would 6srite On T'huuaday she lwsa.
ty'fourih OF Fsbrusry Gen. Hamilton on The same
day returned answer, IN which he stntes az give
az my opinion that You have ten days exclusive OF
| that on which the bill was delivered to you, and
Sundays, hence, in the present Case if It is returned
| on Friday, il will be in tme.n
BY this construction, which the President adopted,
he gained another day for deliberations and it was
until until the 25h of February that he signed the
bill thus atording conclusive proof that he had at
last obtained his own ceusent to sign it not without
| great and almost insupsI able difficulty Additional
light has been recently shed upon the serious doubts
which he had on the subject, amounting ut one time
to conviction that it was his duty to withhold his
manuscript papers of Mr., Madison authorised to be
purchased for the use of the government by net of
the last session of Congress- and now for the first
| time accessible to the public.
From these papers, it appears that President Wash
we he e hed The bank biz n his hands
draasht Of veto message for him. Mr.. Madison, at
ms request ana prepare thc drausht Of such mes
A copy of this original dranght, i'll Mr. NIadison's
ovd I'm wss carefully by him
| IS preceded by note written the same sheet
which is also in MI. Madison's writing and is fol-
February alst, 1891 Copy of paper made out
and sent u the President at his quest be ready
IN case his Judgment should finally decide against the
bill for incorporating national bank, the bill being
| then before him.
Among the objections assigned in this paper to the
bill, and which submitted for the consideration
| of the President are the following:
1" object to the BILL because II is an essential prn-
clpe of the government that powers not delegated by
the constitution cannot be rghtfuly exercised be-
cause the power proposed by The bill to be exercised
is not expressly delegated md because salts
fly myself that il results from any express power by
fair and safe rules of interpretation
The weight of the precedent of the bank of 1871,
and the sanction Of the great name of Washington
which has been so often invoked in support,
greatly weakened by the development OF these facts
The experiment OF that bank satisfied the country
that 1t ought not to be continued, and at the end of
| twenty years Congress refused to reclmrter it. It.
would have been fortunate for the country, and saved
thousands from bankruptcy and ruin had our public
men of 1916 resisted the temporary pressure of the
| times upon our financial and pecunary interests,
and refused to charter the second bank. OF this
the country became abundantly satisfied and at the
close of its twenty years. DURATION in the of
the first bank, 1t also ceased to exist Under the
peated blows of President Jackson, it reeled and fell,
and subsequent attempt to charter similar nsti-
| tuition was arrested by the veto of President Tyler
Mr. Madison, IN yielding his signature to the char
ter Oh 1876 did 80 upon the ground of the respect due
K pIecsd'm.s ma, as ne ,eansny declared the
| Executive signature"
OF 1916, would have been chartered but for the enbnr
ras inent OF the government IN Its finances, the de
which exlsted-thc first the quence Of the war
Of the rev"nton and the second the consequence of
hope that they would restore public credit, and afford
relief to the government and to the business Of the
country.
Those of our public men who opposed the whole
| American system" at its commencement, and
throughout lis progress, forasaw and predicted that
W0s fraught with incalculable mlscniefs, and
result III serious injury 10 the best interests of the
| country For of years their wise couiseIs
were uhheedcd, and the system WIS established. 1t
was coon apparent that lie practical operation was
unequal and unjust upon dlfrren, portions of the
country, and upon the people engaged in different
pursuits.
All were equally entitled TO the favor and srotcc-
money power and enriched the favored few by taxing
was to make the rich richer, and the poor poorer
ITS tendency was to create distinctions in ciey
undue control and swsy in our government. Ii was
an organised money power, which resisted the popu-
lar viii, aud sought to shape and control the public
policy.
entertain the solemn conviction TINT if the inter
nal Improvement branch Of the "AmeIican system"
he not firmly resisted ut this time, the whole series
OF measures composing II will be speedily estab-
lshe and the country be thrown back from her pre-
sent high state OF prosperity, which the existing po-
Icy has produced aud he destined ucuIn to witness
all the evils, commercial revusions depression of
prices and pecunlary embarassments through which
we have passed during the las, twenty five years
10 guard against consequences so ruinoms, is an
object OF high national Importance involving i'll my
Judgment the continued prosperity of the country
| have felt it to be an Imperative obligation to
wlthhOln my constitution! sanction from two bills
volving the principle of the Internal Improvement
branch of the Americln Rysten.h and conflicting in
their provisions with the views here expressed
This power conferred upon the president by the
constitution, have on three occasions during my
| administration of the executive department Of the
government, deemed il my duty exercise; and on
| this last occasion Of making to congress annual
communication "Uf The state Of the uniOn,n il in not
deemed inappropriate TO review the principles and
considerations which have governed my action. |
deem this the more sary because after the lapse
Of nearly sixty Years the adoption of the const
tuition, the proprety of the exercise of this
constitutional power by the president has for the
lifs time been drawn seriously in question by pOr-
| ton of my fellow citizens
Under the peruciOus workings OF this combined
system Of measures, the country witnessed alternate
seosos "i temporary apparent prospeny of sudden
and disastrous commercial revulslons; OF unprcce-
dented tuctuntion of prices, and depression of the
great interests Of agriculture nvigsou. and com
llercc; OF general pccunIary suffering, and of final
bankruptcy of thousands After IA severe struggle of
| more than a quarter ol century. the system
The | ank has been succeeded by practical system
Of finance, conducted aud controlled solely by the
government The constitutional currency has been
| restoreoi The public credit maintained unlmpaired
| even III period OF foreign war; and the whole coul-
Try has become satisfied that banks, national or State
are not necessary us fiscal agents OF the government
Revenue duties have taken the place Of the protec-
| live taTili. The distribution of the money derived
from the sale of the public lands has been abandoned
and the corrupting system of Inferno improvements
| 1t is hoped has been ellecually chez I'd.
1t is moi doubted that If this whole train OF meas
| hres, designed 10 take wealth from the many, and
bestQW upon the few. to prevail, the effect
would be to change the entire character of the gov
eminent One only danger remains. 1t is the sedc-
ions of that branch of the system, which consists
III internal improvements, holding out, it does in
duccmens to the particular sections and localities
to embark the government in them without stopping
| to calculate the inevitable consequences.
| This branch of the system is Intimately com
bined and linked with the others, that surely as an
effect is produced by adequate cause, if it be re-
susctated and revived, and firmly established, it re-
quircs sagacity to foresee that 1t will necessarily
and speedily draw after 1t the establishment of
national bank, the revival of protective tariff the
distribution of the land money! aud not only thespost
ponement to the distant future Of the payment of the
| present national debt, but its annual increase
The constitution yroyldes that every bill which
shall have passed the House of Representatives and
the Senate, shall before It become law be present
ed to the President of the United Staos if he approve
he shall sign it. but If not he sha retu n it with his
objections, to that house in which 1t shall have orgi
mated who shall enter the objections at large on their
journal and proceed to reconsider it,"
| The preservation OF the constitution from nrac-
ton is the Presidents highest duty Ae is bound to
discharge that duty at whatever hazard of mourning
the dspleasureo those who may differ with him in
opinion. He is bound to discharge it, as well by his
| obligations to the people who hove clothed him with
his exaltad trust, as by his oath of office, which he
may 1T disregard Nor the obligations of the
President III any degree lessened by the prevalence
OfveWs different from his own III one or both houses
| of Congress.
1t is not alone hasty and inconsiderate Legislation
that he is required to check but if any time Con-
gress shall, after apparently full deliberations resolve
on measures which he deems subversve of the con-
stution OF the vital interests of the country, it
is his solemn duty to stand in the breach and Sist
| them The President is bound to approve dsap-
PROVE every bill which passes Congress and is pre-
sented to lnl for his signature. The constitution
| IN kes this his duty, and he cannot escape it if he
| would. He has no election. In deciding upon any
bill y cscuted him. he must exercise Ills own best
judgment.
IN 10 return the bill 10 the House III which il Origi.