Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1848-12-13

fifty each OF them is derived from differences and con
s'ructions oi the constitution which its letter and IL
whole object and design do not warrant. Is it to b
conceived mat such immense powers would hav
bech ieit by the trainers of the constitution to mcr
inierences and doubtful constructions? Had il beel
INTENDED 10 confer them on the Federal Govern
ment, 1t is bat reasonable to conclude that il wou
have been done by plain and unequivocal grants
Inns was not done; but tho whole structure o
which The American system" consisted was rear
ed on no other or better foundation than forced i'm
pIca'ions and differences of power which its authors
assumed might be deduced by construction from til,
constitution.
But 1t has been urged that the national bank
which constituted so essential branch of this com
bined aystem OF measures, was not n new measure
and That It's constitutiunaty had been previously
sanctioned, because n bank had been chartered il
l|9I and had received the official signature of Pre-
sdent Washington. A few facts will show the
Just weight 10 which this precedent should be emit
tied as bearing upon the question of constitutional
ity
Great divisions ofopinion upon the subject existed
in Congress. IL is well known that President
Washington entertained serious doubts both as to
the cons'iiutionality and eXpediency of the meas
ure and while the bill was before him for his Off
cal approval or disapproval, SO great were these
doubts, that he required 'the opinion in wrting''
OF the members OF his cabinet aid him in arriving
"' 81 uoN'>o"- CdDinet gave tnClT opinion, ana
were divided upon the subjec-General Hamilton
being in favor of, and Mr. Jefferson and Mr.. Ran
doph being opposed TO, the consiitutionaty and
expectancy of the bank. |, is well known, also,
that President Washington retained the bill from
Monday, the fourteenth, when it was presented to
HIM, until Friday, the twenty fifth of February
being the last moment permitted him by the cons-
tuition TO deliberate, when he finally Welded To il
his reluctant assent, and gave it his signature 1t
is certain that late the twenty third of Febru
ary-being the ninth day after the bill was present
ed to him-he had arrived at no satisfactory CON
cuslon for that day he addressed n note TO Gen
eral Hamilton, in which he informs him that ''this
bill was presented TO me by the joint committee of
congress NJ 2 O'clocn on Monday. the fourteenth
instant" and he requested his opinion ''to what
precise period, by legal Interpretation of the consli
tuition, the President retain il in his possession
before II becomes law by the lapse often days.
II the proper construction was, that the day on
which the bill was presented 10 the President, and
the day on which his action was had upon it, were
both 10 be counted inclusive then the time allowed
him. within which it would be competent for him
10 return it TO the House in which it originated
with his objections, would expire on Thursday, the
twenty fourth of February.
Gen. Hamilton on the same day returned an an
swer, In which he states IL give ii as my opin-
ION that you have ten days exclusive of that on
which the bill was delivered to you, and Sundays;
hence, in the present case, ifu is returned on Fri
day it will be in time.' BY this construction. which
the President adopted, he gained another day for
dellberation, and it until the 25th of Feb
ruary that he signed the bill thus affordng con-
elusive proof that he had at last obtained his own
consent TO sign it not wtkout great and almost in
difficulty. Additional light has been re-
Gently shed upon the serious doubts which he had
on the subject, amounting at one time TO convic-
ton that II was his duty 10 withhold his approval
Tho hill IL
papers of Mr.. Madison, authorized to be purchased
for the use of the Government by of the last
session of Congress, and now for the first time ac-
cessible TO the public. From these papers it appears
that President Washington, while he yet held the
bank bill in his hands, actually requested Mr. Mad.
lson at that time member OF the House Of Repre-
senta,ives, to prepare the draught OF veto mes
sage for him. MIR. Madison at his his request. did
prepare the lraught ofsuch message, and sen, it to
him on the 2lst ofFebruary, 1871. A copy of this
original draught in MIR. Madison's own hand wri-
ting, was carefully preserved by him, and is among
the papers lately purchased by Congress. II is
preceded by note written the same sheet,
which isalso in Mr. Madson's hand writing, and
is as follows
sent 10 the President at his request be ready case
his Judgment should finally decide against the bill for
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:
81 object the bill, because it is an essential princ
pie of the Government that powers delegated by the
stuton cannot be rghtully exercised because the
power proposed by the bill be exercised is not ex
prcssy delegated and because satisfy myself
that results from any express power by fair and safe
rules OF Interpretation
The weight of the precedent Of the bank of 1901 and
the sanction of the great of Washngton which has
been often invoked in its support, are greatly weak
cncd by the development OF these facts The expert
of that bank satisfied the country that ought not
to be continued, aud the end twenty wears Con
gross refused to rccharcr it. 1t would have been for
for the country, and saved thousands from bank
ruptcy and ruin, had public of Is resisted the
temporary pressure OF the times upon financial and
pccunary interests, and refused charter the second
bank Of this the country became a.undany satisfied
and the close Of the twenty years Duration in the
case of the first bank, ii also ceased exist Under
the repeated blows of President Jackson il rceled and
fell and subsequent attempt TO charter similar nSt
tuition arrested by the veto of President Tyler
Mr. Madison in yielding his signature TO the charter
Of 1916 did upon the ground OF the respect due to
precedcnts; and, as lie subsequently, declared, 'the
Bank of the United States, though the original qucs
ton, held be unconstitutional received the Executive
signature"
1t is probable that neither the Bank of 1901 nor that
Of 1916 woud have been chartered but for the cmbaI-
easements OF the Government in its finances, the de-
which cxistcd-hc first the consequence of he war of
the Revolution and the second the consequence Of the
of 1872 Both were rcsortcd TO in the decisive hop,
that they would restore public credit and afford relief
10 the Government and to the business OF country
Those of our public men who opposed the whole IA
mcrcan system at ITS commencement, aud throughout
lis progress orcsaw and predicted was fraught
with incacuabc mischicis and result in serious
injury to the best interests of the country For series
Of years their wise counseS were UNDECIDED aud the
system was established 1t apparent that its
practical operation was unequal and unjust upon different
portions OF the country and upon people engaged in diff
fcrcn pursuits All were equally entitled to the favor
and projection OF the Government. Ii foscrcd and cl-
cYated Tue money power and enriched the favored few
e. pf
to "makc the rIch richer and the poor poorer. Its
tendency was to create distinctions in society based on
wealth. and TO give TO the favored classes undue control
and sway in our Government. 1t was an Organized
money power, which resisted the popular will, and