The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1855-05-02

during the continuance of the corporation
hereby created, for which the faith Of the
United States is hereby pledged, Provided
Congress may renew existing charters fol
Backs within the District CT Columbia. no!
increasing the capital thereof, and may al
so establish any other Bank or Banks in
said District. with capitals not exceeding
Ia the whole six millions of dollars if they
shall deem it expedient." This provision
is continued in force, by the act before me-
fifteen years from the 81 OF March, 1886.
lfCongress possessed the power to estab
lish one Bank they had power 10 establish
more than one, If in their opinion, two oil
more Banks, had been Unnecessary" to ia
ciItate the execution Of the power delega
ted to them in the constitution. Ii they
possessed the power to establish second
Bank, it was power derived from the con
stitution, to be exercised from time to time
and at any time when the interests of the
country or the emergencies of the Govern
mcnt might make it expedient. 1t was po
sessed by one Congress as well as another
and by all Congress s alike, and alike al
every session. But the Congress of 1916
has taken it away from their successors for
20 years, and the Congress of 1889 propos
es to abolish i! for To- years more. 1t con-
not be Unnecessary" or "proper' for Con
gress to barter away or divent themselves o.
any of tie powers, vested in them lv the
constitution, to be exercised for the public
good. 1t is not necessary to the efficiency
Of the Bank. nor is it proper 10 relation tc
| themselves and their successors. They
may properly use the discretion vested in
them; but may not limit the discretion o
their successors. This restriction on them
and grant of monopoly 10 the Bank, il
therefore, unconstitutional.
In another point of view. this provision is
a palpable attempt TO amend the consl IL
ton by an act Of lie -,slaton. The consltu
ton declares that the Congress shall hare
power to exercise exclusive legislation in ri
cases whatsoever" over the District Of Col
umbia. Its constitutional power, therefore
to establish Banks in the Distr let of Colum-
biG; and increase their capital as well, as
unlimited and uncomfortable by any o,her
power than that which gave authority tt
the constitution. Yet this act declares that
Congress shall not increase the capital OF
existing banks, nor crrate other banks with
capitals exceeding in tie whole six million:
Of dollars. The constitu in declares tha
Congress shall have power to exercise ex
elusive legislation over this District, in Al
cases whatsoever" and this act declares
they shall not. Which is the supreme Law
of The land: This provision cannot be ne
ccssary' or proper, or constitutional unless
the absurdity by admitting, that wheneveI
it be NECESSARY and proper" in the opinion
Of Congress- they have right to barter
away enc portion of the powers vested ii
them by the constitution as a means Of tx
ecutiny the rest.
On two subjects only does the cons.iu.
lion recognise in Congress the power tt
grant exclusive privileges or monopolies
II declares that Congress shall have pow
ar to promote the process of science and
useful arts, By securing, for limited times
to authors and inventors, the exclusive
right to their respective writings and dis.
coveries." Out of this express delegation
Of power, have grown our laws OF patents
aud copyrights AS the constitution sx,
pressly delegates to congress TO giant
exclusive privileges in these cases as the
means of executing the subsative power ''to
promote progress Of science and useful arts
it is consistent with the fair rules of con,
sruclion to conclude that such a power
wat no; intended to be granted as means
of accomplishing any other end. On every
other subject which comes within the scope
of Congressional power, there is an eyei
living discretion in the use of proper means
which cannot be restricted or aboiised wi
out an 0mendment of the constitution. Ey.
cry act of Congress therefore, which at
temrts by grants of monopnlics, or sale o
exclusive privileges for United time
or time without limit, TO restrict or cxtin
guish its own discretion in the choice o
means to execute its delegated powers, is
equivalent to a legislative amendment o
the constitution, palpably unconstitution
al.
This act autho,ises ard encourages trans
fers of its stock to foreigners, and grants
them an exemption from al state aud nation
al taxation: So far from being necessary
end proper" that the bank should posses
this wer, to m ke it a safe and efficient
agent Of the Government in its fiscal opera.
tions, it is calculated to convert the B INK oi
the United States into foreign bank, to i'm
povish our people in time of peace, to dis
seminate a foreign influence through every
section Of the republic in war, to en-
danger our independence.
The several States reserved the power at
the form tt;on of the constitution to regulate
and control titles and transfer of real pro,
perty and most, if not all Of them, have laws
disqualifying aliens from acquiring or hold.
ing lands within their limits. But this act
in disregard of the undoubted right of the
States to prescribe such disqualification
gives to aliens, stockholders in this BanG
an interest and title, as member of the
corporation, to all the real property it may
acquire within any of the States of thu
Union. This privilege granted 10 aliens il
not necessary, to enable the Bank to per
form its public duties, nor in any sense
proper" because it is vta!ly subyersive o
the rights of the States.
The government Of the United States have
no constitutional power to purchase lands
within the states, xceps "lor the erection
of forts, magazines, arsenals,, dock yard,
and other needful buildings" and even fo
these objects only "by the consent of til,
legislature of the State in which the sam,
shall be-" BY making themselves Stock
holders in the Bank and granting to th,
corporation the power to purchase land
for other purposes they assume powe