Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1866-04-07

not the law, which lays this prohibition on The
States. The charter OF the bank does not
declare that the State shall not tax IL. Hsays
not one word on that subject. The restraint
IL imposed not by Congress, bat by higher
authority, the Constituiion.
New, sir, ask how we can relieve the
States from this constitution. II is true that
this prohibition is not imposed 10 express
terms but II results from the general provisions
ofthel Constitution, and has been judicialiy
decided 10 exist iu full force. This is a pro-
teotiop, then, which the Constitution OF the
United States. by its own force, holds over
This Institution, which Congress has deemed
necessary TO be created 10 order 70 carry on
the Qovernment SO soon as Congress, ex-
erc;sinq lie own judgment, has chosen to create |
il. can we throw Of from this Government this
constjtu utoual proteetionf think II clear we |
cannot. We cannot repeal the Constitution. |
We cannot say that every power, every branch,
every institution, and every law OF this Govern
nent shall not have all the force, oil the sauc-
ton, and all the protection which the Con-
stitu,iou gives II.
MI. GARFIELD. Such was the opinion
Of the great Defender Of the Constitution"
He believed that the power Of State to
tax the securities OF the United States is
prohibited by higher authority than q
statute OF Congress; that it is prohibited
by the Cons, ,itution itself.
Mr.. Dawes. Has the gentleman had
that passage read as an answer TO my in-
terrogatoryT
Mr.. GARFIELD cite II In answer to
the gentleman's construction Of the Con-
stitution.
Mr.sDAwEs That quotation from Mr..
Webster has, within my experience, been
used for various purposes on many different
occasions; but this is the frst time l haye
heard this application Of il.
Mr.. GARFIELD The application have
made OF it is to show that Mr.. Webster
did not believe that Congress could con
stitu,ionally delegate to the States the
authorities of the United States.
Mr.. Dawes. He does not say SO; that
question does not arise.
Mr.. GARFIELD He does expressly say
that. the powsr TO protect United States
securities is vested 10 Congress by the
Constitution, and Congress cannot place it
elsewhere. This very question has been
argued before the Supreme Court within
the last three weeks. One Of the most
distinguished lawyers Of New York, Mr..
William Nj. Evar,s, delivered a very able
argument to prove that Congress cannot
delegate TO State the power to tax the
bonds OF the United States. trust this
House will not adopt the amendment Of
the gentleman from Maine, Mr.. PIKE
The gentleman from Pennsylvania Mr..
STEVENS tells ns be is 10 favor OF return
ing to specie payments when 1t can be done
without disturbing or deranging the bust
ness OF the country. IF be waits for that
it can never be done. 1t cannot be done
without first contracting the currency and
producing temporary stringeney 10 the
money market. IF we have not the nerve
to do that, il we have not patriotism to
suffer that temporary Inconvenience, we
must go on in the swift road 10 financial
disaster and ultimate national bankruptcy.
The gentleman says we must reach specie
payments by protection. lie says if we
protect our manufactures We shall keep
gold from going abroad. That is not his
first attempt to regulate the value and
movement Of gold by legislation. After .
few days trial his law Of 1854 for that
purpose was repealed. do not oppose
protection. am in favor Of protecting
the sanctity OF contracts by bringing ali
values back to the basis Of uniform
standard. Then our iron, mills will not
stand idle ss they now do, becausesof the
risk occasioned by the violent fuctuaton
Of prices. 5..r
Mr.. Speaker, this is our only remedy.
/ have faith in the Secretary of the
Treasury that he will, by and by, with as lit
tie disturbance TO business as possible,
bring us to specie payments. We have
travelled more than one quarter Of the way
since Congress met. Gold was then l48,
now it is 1870. Mercury in the barometer
is not more sensitive to atmospheric in
fuences than is the gold market to the
legislation of Congress. Witness the follow
ing paragraph from the financial column Of
q recent New York daily.
Wall street ia more animated to-day 10 con-
sequence Of the report, which is extensively
believed tn at all loan bills will be made condu,
Give to imitation, and that the temper Of Con.
gress is hostile to all measures looking toward
contraction OF .be greeOback currency. This
is interpreted to be favorable to higher prices
and is already producing its effects in stimu-
lating speculation.
Defeat this bill and there will be 9
jubilee in Wall street. This House mus
lake the responsibility.
The bill having been lost on the 10th
instant by a small majority, Mr.. GARFIELD
changed bis vote so as to enable him tC
move to reconsider, which moticn wa
sustained by the House on the l9th instant
by vote of 81 to Ct. and, before moving
the previous question,
Mr. GARFIELD said:
Mr.. SPEAKER: Every gentleman in this
House must admit that, during the short
time given to the committee this morning
FULL hearing has been given to two oi
the ablest gentlemen who oppose this
this measure, and l presume their views
could not have been more strongly stated
ID the same length Of time than they have
just been stated by the gentleman from
Massachusetts, Mr.. boutwell, But
wish TO call his attention aud that of Ihi
House 10 the fact that, in the discussion o
the bill. be has raised an issue aside frou
the question. He has undertaken to antsgc
nizs the policy Of the Secretary Of ID
country, and has told us that We ar
putting in ihe hands of the Secretary
nauar mhick NAV ha naed aOainkt the In