The Arkansas banner., 1848-12-19


 T would hare heen hy piain and eqmiseeu rrmatn Ts Dsa donr, bet the wissle ssrac1nrs sS waieh the @Americza sysaemT consisted, wns rRared on other better iDundasioa than forced tpasF- ths.s assured snixAt be Geanrtea by enussynction from tiye caast5tation.
 ! But is has be@n argra fhzt ths Eafoa-, B.sk. ubeh esrsGiastsa essential bsznek of this saas- and thna is censtitmtisnaztF had lsan efsag4er n I7sI, aud had the e1Eoisi sigussurs eT Prsssssus W sshington. A few facts Nii sAaw the lass rert.t te whsrh tasis srecsseHi should be epSitea ns bear iag upon ths question of eSnslifatienAliiy. Great disisgn of ppiassn en the suiissra eztzte fin CeHgress. Ii is wea kaewn that PrsaSDevt v ssa- ingtpn entertained seius deabts hst an to the csa- ssiia1ioaHlity and eSpeaieaey ef the ssmSuye. and whie the biil before him for hS cscial u.ssrp- val aisAPpFevsl, great ~ese theas eeusts thui he required aihe opiBiaa, in wriifRg. Of fe r-za- hers of his Cabkees. fs aa hio in arriving nf de- eisiea His Cabinet gaFe ther osiasaa and were dyis@s npou sbe snbjees: General IaaBiisn ia faTsr aad Mir Jefferson and Mir RaDaolph bring epBascd 10 the conSfisutignafy and evpedSeney.
 IL is wei kBews aisa. that President " assiuwtnn retaaed the bIsi from M4BdAy. tise lsfk, whsH Il presented to him, sasil Friday: the esth eT Feb ruaTy. being the last moment perBirfsi him hy te Consi1atisR wasn hs hnAIiy yieided tp give his re- lactanS assent and gHEes bis signature Ii Is cef- tain. that iAte as the 23d of FebruHry-beiHs The ninth day after th. bi sras presented ;o hssh-ss haa arrived st satisfactory f1r en that day se addressed ne&r ie Gen. Hasnfiion n which he says that tiis bill t'wss presented to ne by tz loiai Camuistea of Congress at f2 1'cieck on Mon- day, the l4sh isst,~ and he requested his epsai5a as te what precise period. bY ira iaserprpfaian of he CeGstitation tte Presi est retain # a bis Pos~esaioA asiere il becsaes law by Iise ispse o tbe fen dsys.
 If the proper construction u~s tilaf tls~ 5sy on which tbe bi was 'prrnnica t0 the Preeldeni aud the day winch his aeasn wAs had npua IL were both to be eoupted iselesse. then inc lime allowsd hin. within which s uusid bs eosase4ers fer tius to refurH Il fe the Eerse Ia isch ss srixiaasd win his objections, would expire on Thursaay the @4sh February Gen HsnsstsH the same day, re- turned answer, in whieh he states ''f rye t as my opinion iaas ysu have ten days exclusive of that wtiirh the hSh was del5vered 10 roa and Saudags Hence in the present. e1se h t is rflnrue1 OF f'ri- aay t will be in time = Ky this constr scf8an whiet tae President s3oftrd he r.inr another cav for de- hbsratlen, and h sntii the 35th of February iaat h- signed the oia shns sffesiag conclusive proof tha1 he had last sbtained his own consent 10 sign II mot without yienf and ainaoss iasup.r- 8hie difficulty Aasaiona' light .haS recently been shed upen the serious seabts Y hieh he hsd on ,ie subject, auasnaiiHE, sf i;nae fa the conTic ion tlai fl was hts de'y 10 withheld his approved from The hffi. his s f0und ag1oEr the Ylunuscrivt pa- pers ei Mr. Madisoa authorized to be purchased tes the use of fbe government bE ftse it aezsion and now for the first Ii ns ssee.safa te the pablie
 From tiscse papers # appears tha Presi5eu4 Wash instsa while he vet held ;as bank hn in his hauss
  member Of the House ef Repsgss niairrs to prrpsre the draft eI 2 Nesn Message Tor hisn. Nr Ma1isun si his reqeest da pepare the draft ef such Message and seat t 10 lifa the Fist of February l1Si 4 copy of fhis org eal draft h Mir. %adisoa s eEn hand writing. was carefa}y preserved hv him. and is among ise papers lately pH7eh.ssed by lhs Con- gress. IL Is preceded hy Bo'e written en fhe saTne sheet and ls aise ia Mr. Msaisoa's own hapd wri- tiug:
 'Fehrnarv Fist. I7sI.
 cf rr.sae onf sad ia p~.asi- dent at bis request. ts ready 5a czse his adgnest saoulG Enaliy aeciSe against the fi for ineerpore i,g Nsfionai Bank, lhe bsil hsiag isen irlore hn
 Among ,he ehsctieRs assignee n tisis paper to the bl. and which snbEoilied fer the consideration ef the President are tiae lot9wiag
 ''I chject fe the bl, because Il Is m essential priscpe of this Got~rBuasu nj that P not deega- led by tae Cosst utien eaEnet be-si4iasfAi4y csse; becRusr tae power proposed hS jas bifi be exercised k moi 'zprsssly delegated. aas .ecsuse cannot satisfy tvseif ths results from any r1- pressed power by fair and safe rasss of iaier--ta lien n
 The weight of ila~ precedent of the Bank af Is9l 2sg the ssnc{un ot the great 1f ashiRg.eH. f which has been so often invoked in it's support by the development of these fses. should ssss.fy the coHniyy tilot Il gut nst to be continued II usuid have been feTiaaste for the ceBafry and szre thS0 sands fTarn bankruptcy and rzia, lsaS our public uieh resisted The temporary pressure ef fie t,Wes nPen fEaneiai and PesunisFy interests. and re- fnsea se charter the second Bank ihe country became ahan4antis ssitsaed of ths clcse of ihc twenty -ars earatioas Sa ia tse case Of the first bank. and fl also ceased te exist snaer the rsPeatsS vetees of PreS eat JesrsaR; fl ressd mud fell; and subsequent attempt se cba-ser s:ssiisr ias;ita- tica arrested by the veso af President Tyler
 Mr. Mazi<cn ID yejeing his signature to the charter ai l-ls, did upea the gFpaaa oi reSPecf Gue to prece5enfs and as he seq reniiy Gecarsd, the tank of the niicd States. tl,aagh the srgi ndt question heis te be uBeonsitatleasl, stceived tar executive signsture.
 IL is pralsahie that neiser the baak ss i79l no. tisai of isI6 uid have beeu riizrtsJ but for tae ern sarrassaneB. ef tse eevc,pmrntia ;is haapces, jB the arrangement ef the carrescy, the neenniary pressure which exftga-3he sssst, the ecnseq1eRce of the war el inc rtronie U the SscSas, tA= eaRse qaeecs cf the var of T. Is-ssth were restasrd Co in the d@tasrve hope tls they would restore Pnhlic credit and afera ressef fe tlae gas~rnmeHt and ts the business af thssyeuHtfy.
 Thsse of eeE A;1b!ie uho oPFose5 the whole American syst ai ts and through out lis prpgfess fofessw and Rrc4etrd aai Il " as franghi Ish nesaiculab misehlef, and must r-sat iu & fc&s canscpnenc~S the best interest et the cos gsfy. For series of year. tiese wise coasses Wsse anheard. and the established. ltwas ason apTarreni that 8s practical ervraliea Was sE- < equal and unjust upon Giaercni Porib@as q the eoHairy, and upon fhe PHsPie engaE7d in different pursuits Ali were eeRa3y entitled ;o tae favor and protection of the government IL festerea and sevaed the asoaiea power and enrichri tle favored few zi the expense ef many. itz cfeci was @a make the rich richer. and fhe poss poorer.
 Its tendency was 10 eraate cisinetFens fn soci~ty based wealth. and .a gFe fhe favored elasrs na- sae control and SWAY Ia cur EsV3Tsnacsi- Ii zrss sn organized menry peNeT, RAieh Fe-sstea itr Fs'- ulsr ~il and searht 10 shape and oeHir"l the Fns- iir ty taxing l-Aer
 Under tise perntcioas workiass oi thIs ~eeE7tiaed system of InpasuTes, inc eeaDtry witnessed alternate of temporary apparent prosperity Dt nnans and disastrous coalncFeisl FeSsAsioAs or asPFeee- deatsd Buctassans s{ pricrs sad inc oppression of the great interests of agricalturc, uasisal0a and cansiiserce ana general pee aHiafy suffering. and ei haa bankruptcy ef theasasas- AIier severe stras- Ele of tbAR gaGTieF oi eeninrg ihe system swas 0yeTihTa@H.
 The Bank has beea sseeees~d by practical sys- tcm 0i hHaUce eondarled and eoatroleS solely by the eorernfaent The eeasl sliia,tonai enrreney has been restored, ihe paalir credit tnaialsin@d aair-