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DEC. 17, 1833.]

Removal of the Deposites.

[H. of R.

great Union, affecting its interests—matters of great pub-up between the statements of the Secretary and the statefic moment, which every gentleman on this floor ought to ments of the bank reports. Now, how was this issue to have an opportunity to consider and debate, if he thought be settled? By first discussing great and obvious princifit. This was the sense and meaning of the rule. If it ples in Committee of the Whole? No. By sending both, was not, he asked gentlemen to expound to the House the together with the reports of the directors of the bank, to reason of committing it to the Committee of the Whole the Committee of Ways and Means. Let the committee on the state of the Union? It would be absurd to commit settle the issue; and let them bring back, as speedily as to one committee, merely to obtain a report from it to possible, their report into the House. When once the commit to another committee; for that could be just as facts were settled, what was the object of discussion? To well done in the House. He knew that it was usual to ascertain the truth. Was the Secretary right, or were the dissect the message, as it was styled, in this committee-directors right? When this was the question brought beand it often happened that little debate arose, but still the fore the Committee of the Whole on the state of the design was to open a free, untrammelled opportunity for Union, how simple and how obvious would be the inquiry it. The argument of usage, therefore, falls to the ground; which would occupy its attention! It was easy to apply the authority is exactly the opposite of what has been great principles-they were as simple as light. Inasmuch represented, and those who urge it propose to violate the as the saving of time was the great object on all hands, let rule instead of supporting it, and to do it without any ad- the paper go to the Committee of Ways and Means; let it vantage, for the subject would still be left with the Com-be accompanied, if gentlemen pleased, with instructions; mittee of the Whole on the state of the Union, and there and let the investigation, the decision, and the report, folcan be no propriety in separating the documents. low each other in quick succession. Notwithstanding this obvious state of things, there was The House had been told that a great state of alarm a manifest purpose to send this document to the Commit- existed in the country, and that a further continuance of tee of Ways and Means--and why? To ascertain and the present state of uncertainty was much more to be settle the facts, it had been said. And what authority has apprehended than any result of the question. Since this this committee to settle facts? What right have they to had been stated, and facts had been referred to in supfind a verdict and present it here as obligatory upon us? | port of it, he would inquire of gentlemen, (he did it with None whatever. We are not yet deprived of the right to great reluctance-and should not, had not the statements think for ourselves or to judge of such evidence as is laid made compelled him to such a course,) who had spread before us, independent of the views of any committee-this alarm? who had proclaimed it abroad? The Secretary but the Secretary has rendered all his reasons for his con- had declared in his report that all was well--here was the duct with great deliberation, and if we wish for the evi-voice of peace. Did the gentleman learn it from the dence upon which his reasoning is founded, we can de-venerable man who filled our chief Executive station? mand it of him and it will be furnished. So far as respects No. Did he hear it from gentlemen on that floor who this document, we are called on to consider his reasons, were the avowed friends of the administration' No. The and nothing else, and what occasion have we for the aid of alarm came from a different quarter entirely. The cry the Committee of Ways and Means? None whatever-of "fire" came from the opposite side of the House. No and I can conceive no possible motive for sending this pa- doubt the cry was raised in all sincerity, but it came not per to them, unless it is to obtain a report, an echo of from those who acted with him. Mr. L. concluded by certain opinions already before the public, under the authority of the committee, for political effect. If this be the object, let it be manfully avowed, that the people may understand the object. It had been said that justice to the bank demanded this, but he said he had heard of no such request from the bank. The Secretary had made his own case out leisurely-the country and the bank de- The question was now loudly demanded from all quarmanded speedy action upon it, that the excited state of ters, and, at about half past 3, it was propounded by the public feeling may subside-and he hoped, as no possible SPEAKER, on reconsidering the vote by which the report object can be accomplished by this motion, unless a report is produced for political purposes, that the mover would withdraw it, and the document and the message be left together, as they should be.

expressing his hope that the paper would go to the Committee of Ways and Means that they would report without delay, and that all would act upon the subject without reference to local or to party feelings, and, like members of one common family, would all conspire to allay the alarm which was said to prevail.

of the Secretary of the Treasury, in relation to the removal of the public deposites from the Bank of the United States, had been referred to a Committee of the Whole on the state of the Union; and decided by yeas and nays, as follows:

Mr. LANE said, that so far as he had been able to gather the intentions of gentlemen, all were agreed in YEAS. Messrs. John Adams, John J. Allen, William desiring as speedy a conclusion as could be arrived at; and Allen, Anthony, Baylies, Beale, Bean, Beardsley, Beauso far as his own vote was concerned, it should be on that mont, John Bell, James Blair, John Blair, Bockee, Bodle, side which he considered best calculated to reach that Boon, Brown, Bunch, Burns, Bynum, Cambreleng, Carend. He was willing to put the question as to the proper michael, Carr, Casey, Chaney, Chinn, Claiborne, Samuel disposition of this report of the Secretary on a single Clark, Clay, Coffee, Connor, Cramer, Day, Philemon proposition, advanced by the gentleman from South Caro- Dickerson, D. W. Dickinson, Dunlap, Forester, Fowler, lina, [Mr. McDUFFIE.] That gentleman said the paper W. K. Fuller, Fulton, Galbraith, Gholson, Gillet, Joseph must go to the Committee of the Whole, in order that the Hall, T. H. Hall, Halsey, Hamer, Hannegan, J. M. Hargreat and obvious principles involved might there be per, Harrison, Hathaway, Hawkins, Hawes, Henderson, settled. Now, he had supposed that the great and obvious Howell, Hubbard, Abel Huntington, Inge, Jarvis, R. M. principles of truth were always known, and always settled; Johnson, Noadiah Johnson, Cave Johnson, Benjamin that they were as firm and settled as the course of time; Jones, Kavanagh, Kinnard, Lane, Lansing, Laporte, Lawand that great principles were only useful in their prac- rence, Luke Lea, Leavitt, Thomas Lee, Loyall, Lucas, tical application to things. He had now for the first time Lyon, A. Mann, J. K. Mann, Mardis, Mason, McCarty, learned what was the real object of that gentleman-it McComas, McKay, McKim, McKinley, McLene, McVean, was to discuss the report of the Secretary of the Treasu-Miller, Robert Mitchell, Muhlenberg, Murphy, Osgood, ry, together with the weekly reports of the bank; and Page, Parks, Parker, Patton, Patterson, D. J. Pearce, the gentleman had had the candor to tell the House that those weekly reports do contradict the averments of the Secretary. So that it appeared an issue was to be made

Peyton, Franklin Pierce, Pierson, Polk, Pope, Ramsay,
Schenck, Schley, A.H. Shepperd, Shinn, Charles Slade,
Smith, Speight, Standefer, Stoddert, Sutherland, William

H. or R.]

Bank of the United States.

Taylor, J. Thomson, Turner, Turrill, Vanderpoel, Van
Houten, Wagener, Ward, Wardwell, Wayne, Webster,
Whallon, C. P. White, Wise.-124.

[DEC. 18, 1833,

Mr. BINNEY moved that the memorial be laid on the table, and printed.

Mr. POLK moved its reference to the Committee of Ways and Means, and demanded the yeas and nays on the motion for laying it upon the table.

Mr. BINNEY called for the reading of the memorialand it was read accordingly.

table.

NAYS.-Messrs. J. Q. Adams, Heman Allen, C. Allan, Archer, Ashley, Banks, Barber, Barnitz, Barringer, Bates, Beaty, James M. Bell, Binney, Bouldin, Briggs, Bullard, Bull, Burd, Burges, Cage, Chambers, Chilton, Choate, William Clark, Clayton, Clowney, Corwin, Coulter, The question then recurring upon laying it upon the Crane, Crockett, Darlington, John Davis, Warren R. table, the yeas and nays were taken, and resulted as fol Davis, Amos Davis, Davenport, Deberry, Deming, Den-lows: Yeas 80, nays 126. ny, Dennis, Dickson, Duncan, Ellsworth, Evans, Edward So the House refused to lay the memorial on the Everett, Horace Everett, Ewing, Felder, Fillmore, Foot, Foster, P. C. Fuller, Gamble, Gilmer, Gordon, Gorham, Mr. POLK's motion for its reference to the Committee Grayson, Grennell, Griffin, Hiland Hall, Hard, Hardin, of Ways and Means being about to be putJames Harper, Hazeltine, Heath, Hiester, J. W. Hunt- Mr. CHILTON moved to amend it by adding instruc ington, W. C. Johnson, Seaborn Jones, King, Lewis, tions to the committee to bring in a joint resolution order Love, Martindale, Marshall, McDuffie, McKennan, Mer- ing the Secretary to re-deposite in the Bank of the United cer, Milligan, Moore, Pinckney, Potts, Reed, Reneher, States the public moneys which, by his order, have been Selden, W. B. Shepard, William Slade, Sloane, Spang-removed from that institution. ler, Stewart, W. P. Taylor, Philemon Thomas, Tompkins, Tweedy, Vance, Vinton, Watmough, E. D. White, Frederick Whittlesey, Elisha Whittlesey, Wilde, Williams, Wilson, Young.—102.

So the House determined to reconsider. Mr. POLK then moved that the report be referred to the Committee of Ways and Means.

To which motion Mr. McDUFFIE moved an amendment, proposing to instruct the committee to report a resolution directing that the residue of the deposites should not be removed from the Bank of the United States.

He thereupon moved an adjournment; on which motion the House divided, and passing between tellers to be counted, it appeared that the yeas were 111, nays 101. So the House adjourned.

WEDNESDAY, DECEMBER 18.

BANK OF THE UNITED STATES.

Mr. BINNEY presented the following memorial from

the Bank of the United States:

To the Senate and House of Representatives of the United

States:

The Board of Directors of the Bank of the United States respectfully represent

In support of his motion-

Mr. CHILTON addressed the House as follows: Mr. Speaker: Candor demands I should say, on rising to join in the discussion of this subject, that I entertain but little hope of being able to say any thing which may change what, if I were not restrained by the rules of order, I would call the predetermination of this House. I am per fectly aware of the power of opinion, when once formed, and particularly if expressed. I am not a stranger to the irresistible influence of prejudices, when once imbibed, and therefore it is, that I enter on the discussion of this subject, more with a view to discharge my public duty, and to afford the freemen who have sent me here an evidence that I have done so, than with any calculation that I shall be able in the slighest degree to affect the decision of this House.

I have, sir, another view. This attempt to derange the currency of the country, by destroying the best and most judiciously managed institution that this or any other nation has ever had, is not of recent origin; it was long since conceived, and this entire continent-yes, sir—the whole extent of country, from Maine to Georgia, and thence to the Mississippi, has been overrun with misrep resentations and calumnies on the character of the institution-some official, some otherwise; but all so specious and imposing, that a people who are even disposed to That, by the charter of the bank, it was stipulated be-judge dispassionately, and to decide correctly, are be tween the Congress of the United States and the stock-wildered; they know not what to believe, or how to disholders of the Bank of the United States, that in consid- pose of this interesting and yet exciting question. eration of a full equivalent rendered by them, in money Let no man say, that I undervalue or insult the intelliand services, they were entitled to the custody of the public moneys, which were not to be withdrawn from it, unless for reasons, of the sufficiency of which, Congress, and Congress alone, was the final judge.

gence of the country when I thus speak; for I know that I speak the truth. The scattered condition of our popu lation renders it impossible that the great body of the people should command such a stock of political information as to guide them in safety on all subjects, and on all occasions; they are hence compelled to rely more or less Nevertheless, since the adjournment of Congress, the on others, in whom they have reposed their confidence. Secretary of the Treasury has issued an order, on the 26th The people are aware that their opportunities are limited; of September last, withdrawing from the possession of that their avocations deny them the leisure which would the bank, the custom-house bonds deposited therein, and be necessary to the successful prosecution of political has subsequently transferred into certain State banks a studies-and thus it is, that the confiding farmer follows large portion of the public moneys, then in the safe his plough--the cheerful mechanic pushes his plane--the keeping of the bank, with the purpose of making them persevering manufacturer weaves his web, and in fine, the hereafter the permanent depositories of the public rev- great army of laborers in the diversified operations of that industry and enterprise for which our people are be The Board of Directors therefore deem it their duty coming alike elevated and proverbial, move on, trusting forthwith to apprize your honorable bodies of this viola- the management of their political concerns to men se tion of the chartered rights of the stockholders, and to lected for some qualifications, either real or imaginary ask such redress therefor, as to your sense of justice may-and some virtues, either possessed or imputed. Sit

That the bank has in all things faithfully performed the stipulations of the charter.

enue.

seem proper.

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uated thus, we may all be said to represent a people who confide much-yes, very much-to our intelligence and integrity. The political destiny of the country may truly be said to be in our hands, nor can I be mistaken when I assert that our obligations rise in the exact pro

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DEC. 18, 1833.]

Bank of the United States.

[H. of R.

portion, that public confidence is reposed in us, and that that open as the subject now is, to a discussion of its the public happiness is dependent on the manner in which merits, I may be more fortunate than on the occasion alour duties are discharged. luded to, and the honorable Speaker may not have imBut, sir, I have already troubled the House with as posed on him the painful necessity of interrupting the many preliminary remarks as are either necessary or ex-order of a gentleman's argument, by interposing in bepedient on the present occasion. I feel that it is due half of either retiring modesty," or the rules of the from me, to my country generally, and to my immediate House.

constituents especially, that I should go into a considera- But let us enter on the subject at once; as even a brief tion of the subject proposed, endeavoring, in a spirit of discussion of the various matters involved in it, will conperfect candor, and as great moderation as I can com-sume as much time as I can, with any assurance, ask at mand, to imbody the substantial facts on which our de- the hands of this House. I am compelled, Mr. Speaker, cision of this question should turn, and a few plain and in order to present this subject fairly before the House, unsophisticated arguments, illustrative of what should be and an inquiring community, to submit a few remarks on the practical effect of those facts upon our deliberations the origin and probable cause of the reckless hatred, and here. And should I fail of any-even the least effect uncompromising hostility, which is entertained by some here-a circumstance which I have already anticipated individuals high in authority, and many others whose buyet, to the pleasing consciousness which it will afford me, siness it is alone to follow, against the Bank of the United of having faithfully endeavored to discharge my public States. In doing this, I hope my motives may not be misduty, will be superadded the animating hope, that the conceived. However little others may know of the fact, view of the subject which I shall perhaps be able to pre- yet I know, and I feel, that I entertain no such disposition sent, may meet the eyes of other bodies of men-larger, toward any member on this floor, as could be gratified if not more august, than this, who will have no interest by inflicting on his feelings the slighest wound: such is in being deceived, much less in becoming the miserable not my intention: and should I be so unfortunate as to use victims of voluntary deception. any expression, in the course of this debate, which may

I will not say, sir, as it was once said, and I believe on be calculated to produce such an effect, I shall not only this floor, that "I speak for posterity:" for the tide regret it, but tender in advance the declaration that it is which bears down to them a history of the checkered not desired--not intended. Yet, sir-and while I make events of the present age, may in all likelihood sweep my this declaration, it is not to be expected, not to be suphumble name from the catalogue of those who have figu-posed, that I shall be content with less than a discussion red, or even attempted to figure, on the theatre of this as broad as the charges which have been made against the day. I have greater ambition to be considered good, bank, and as bold and uncalculating as have been the than to be called great; and a deeper and more abiding assaults upon it. In tracing this hostility to its origin anxiety to deserve, than to obtain, the applause of my and in pursuing its serpentine meandering, in endeavorCountrymen. Then, sir, I speak for the present genera- ing to compass the destruction of this institution, I cantion. I speak for what I esteem the cause of truth-I ad- not, though I would gladly do so, avoid at least a respectvocate what I believe to be the cause of my country; and, ful commentary on the part which the distinguished genacting under these convictions, I shall march boldly for- tleman who fills the Executive chair of this nation has ward. Acknowledging no master, my responsibility will acted in the grand farce which has been played off on the be due alone to those whose representative I have the people.

pleasure to be. And unambitious as I am, and hope ever Mr. Speaker: In relation to that distinguished individto be, of outliving the honor, the peace, the happiness, ual, I have no personal feelings to gratify; and sure I am the independence, the liberty of my country, no "ty-that, when the attitude in which I stand towards him is rant's frown" can swerve me from the pathway to which duly and dispassionately considered, no man will feel disindependence as a citizen, and duty as a representative, posed to dispute the sincerity of what I say. For him, plainly point me. No, sir. But in the respectful exer- and to elevate him to the chair which he now occupies cise of my privileges as a member on this floor, I am de- I say it not boastingly-no man has waded through deeper termined to spread this subject before the American peo- conflicts than myself. At the peril of health and life, and ple; not by discoloring its facts, or calling to their aid irrelevant and offensive arguments, but by endeavoring to disencumber it of the misrepresentations which have so often and so long obscured its proper features from the view of a community, whose best interests are deeply involved in the decision which we are to make.

every other worldly comfort, I became his unyielding advocate: his cause I considered my cause--for then, sir, I believed his to be the cause of the country. But, sir, after the conflict had passed, and the giddy shout of triumph had gone up-at the very moment when I fondly hoped that the victorous declarations which his friends On a recent occasion, sir, and pending a motion made in the West had made in his name, were to be amply and by the gentleman from Tennessee, [Mr. POLK,] to recon- strictly verified, I saw, or believed I saw, that every hope sider the vote of this House, by which the report of the which my native State, Kentucky, had anchored on him, Secretary of the Treasury, relative to the removal of the was withered, blasted, and dead. I paused for a moment public deposites, was referred to the Committee of the to contemplate him; I wondered at the sight I beheld, and Whole on the state of the Union, I took occasion to trou-refusing to follow him, I turned from him--for, from my ble the House with a few remarks. I regretted extreme-country and my principles I could not turn. Yes, sir, and ly, as I then said, that it was not in order to discuss the while I might have floated on the full tide of a popularity merits of the question, and to analyze the reasons offered which I had drawn around me, I chose rather to sink for by the Secretary in justification of the extraordinary principle's sake, than to glide deceitfully on a current. course he had adopted. But I regretted, more, if possi- When I took this step, I anticipated all, and even more ble, that I could scarcely allude to the peculiar modesty than has befallen me. I said then that I should be politiwith which the honorable gentleman had invited this sub- cally buried, and so said my enemies-but I differed from ject into his own embraces, without conflicting with some them in this: they were, so far as I was concerned, poview which the Chair entertained of the order of this litical Sadducees--they believed that for me there was no House. It would be out of order, I know, if I were even resurrection. In this they were reluctantly disappointed. to intimate that the administration of the rule to me, was But I confess I have waded through some severe conrigid, and without mercy; or, that, as the same discussion flicts, in endeavoring to atone for the public mischief I progressed, the rigor of the Speaker was relaxed. This had done. Yet all the while I believed that the time I will not say. But, I may venture to express the hope, would come, when public justice would be awarded me,

VOL. X.-139

H. OF R.]

Bank of the United States.

[DEC. 18, 1833.

and when my motives would stand proudly vindicated, which the appeal is made, and which must ultimately deand redeemed from the calumnies which had been heap- cide it. ed on them.

First, then, of the motives, which have produced this But it is not my purpose to enumerate the services extraordinary measure, and the cause of the hostility in which I have rendered the Executive, nor to dwell on the which even those motives were conceived. Sir, in speakdifficulties in which my hasty confidence in him as a po-ing of motives, it should always be done charitably. They litician has involved me. Suffice it to say, I have sustain- lie deep within the bosoms of individuals, and the reason ed my opposition to that part of his course which origi- why they are so frequently misunderstood, is the fact nally separated us--and that I have also sustained among that they can seldom be viewed through any other chan my constituents, a most unqualified opposition to the nel or agency than that of the actions which they pro course he has taken against the United States Bank. duce. Such, it must be admitted, is the best general Therefore it is, that, in maintaining that opposition on this standard by which we can measure them, though even floor, I not only meet the just expectations of the dis- this is sometimes erring and deceptive. Sometimes a good trict whose representative I now am, but those also of the act, is done from improper motives; at others, perhaps a State at large, one of whose representatives I had the bad act from correct motives-but in almost every inhonor to be when Kentucky last spoke the emphatic stance, some aggravating or palliating circumstance is to words that "Andrew Jackson was no longer the ruler of be found in either the thing done, or the manner of doher choice." ing it, reflecting light on the true character of the motive concealed in it.

I have already said, sir, that the general subject of the United States Bank, was one, on which I have differed But when, sir, do we hear of the first open and organfrom the Executive. We also differ on the subject of the ized opposition to the bank? Secret feelings of bitterness removal of the public deposites. Will I be told, that the against it may have been cherished before: but if 1 am President is not answerable for that measure?-that it not greatly deceived, the present formidable and systemat was accomplished alone by the Secretary of the Treasu-ic plan of uncompromising opposition, may be said to have ry--and therefore that he alone should be considered an- originated subsequently to a well-remembered corres swerable to this House, and to the nation, for their re-pondence which, at a particular time, was carried on be moval? If this be said, there is only one reply to it. That tween certain individuals, touching the management of one the Secretary did order their removal, no one will ques- of the branches of the United States Bank-I mean that tion: and that he was compelled so to do, is equally cer- at Portsmouth. Was any thing to be found in this cortain. For, sir, a refusal to remove them, when it was re- respondence, which indicated a settled and unconquera quired by the Executive, was the great sin which his pred-ble hatred to the bank? Was it then thought, or assert ecessor had committed-he had stood firm against an ed, as it now is, that this institution was sweeping over Executive mandate-preferring to lose his station rather our land and country like a blasting wind, desolating our than sacrifice his honesty; which he must have done, had brightest prospects, and seeking to overturn our republi he ordered their removal under the convictions which he can institutions? Was it then urged that it was endeavor avowed. He had fallen a victim to what was considered ing to exert a dangerous and destructive influence in our his contumacy; and was punished as "a refractory sub-elections, by rendering its funds subservient to the eleva ordinate." These things "had not been done in a cor- tion of one set of men, or the depression of another? Was ner"-they were seen by the present Secretary, and con- it then concluded, that it was wholly sordid and selfish, sequently known to him--he, therefore, entered on the an enemy to our national prosperity, and seeking only the station with a full knowledge of what was expected of aggrandizment of its stockholders at the sacrifice of the him; and, indeed, no one can doubt, that a pledge ex-public good? No, sir, no whisper of all this is heard-but pressed, or well understood, to do this thing, constituted the very character of that correspondence implies that, on the "sine qua non" of his appointment to office. That one hand at least, it was hoped that it might be rendered this determination, therefore, to remove the public money subservient, and hence the application to remove the from the vaults of that bank in which it had been and president of that branch, with the avowed purpose to fill was to be deposited by virtue of a sacred charter stipula- his place with some other who would favor, to a great extion, did not originate with the Secretary of the Treasury, tent, the friends of the present Executive, is satisfactorily established. Nor indeed am I prepared This application was promptly responded to; and, af to say with absolute certainty that it originated with the ter an examination which resulted in the conviction that President himself, notwithstanding he has proudly said, the administration of that branch was sound, it was equal "I take the responsibility." That he has considered ly promptly rejected. What, Mr. Speaker, might, and himself best able of all concerned to bear that frightful what in all human probability would have been the course responsibility, which is incurred by trampling unceremo- pursued towards this institution, had a sense of justice niously on national faith, is altogether probable. Nay, it and propriety yielded to avaricious fears, in those cons is certain. But that, in this matter, as in many others, cerned, when this application was made-and when it was there might have been "a power behind the throne, clearly seen that a refusal was to be followed by a deadwhich was even greater the throne itself," is, to my mind, ly and fearful hostility, and an unequal conflict with by no means improbable; and, if a very celebrated mod-power? Sir, might it not have been the case, that many. ern writer is to be credited on this subject, we have the very many, of those who have entered the lists of oppo time, place, manner, and purpose, at which, in which, sition, and are crying "Down with the bank-down with and for which, this scheme was gotten up. But, sir, all levity aside, the peculiar circumstances this same bank the bank," would, in that event, have been at this very under which this act was done, demand of this House a This question must be answered by others; as it would cool and patient investigation, not alone of the act itself, perhaps be out of order, if I were to attempt its answer. and its ruinous effects on the great and leading interests But now all these charges, and a thousand more, are of this nation; but also, of the causes and considerations made against it. Are they true, sir? And are they sup which induced it. Not tint, if the act in itself was proper ported by such testimony as may be relied on? If so-yea and right, it should nevertheless be condemned for the sir If I could be satisfied, and I will require nothing get insufficiency of the reasons assigned for it, or the impro- respectable legal testimony to do it, that these charge, priety of the motive which produced it--but that, if both are true, I, for one, would take my stand, in a moment, the act and the motive are wrong, it may be made the against the whole concern. subject of tenfold condemnation, before that tribunal to Speaker, more than all banks-and whenever it shall be

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I love my country, Mr.

DEC. 18, 1833.]

Bank of the United States.

[H. or R.

established, that this or any other institution, is endeavor-ple is established, that no "exclusive privileges" shall ing to subvert the Government, I will join any man, or be granted. Is it not amusing, sir, to witness the agonies any set of men, in a holy struggle to overturn and demol- of intellect which are produced by the struggle to wrest ish it. But a charge is one thing-proof is another; and this remark in the constitution from its original meaning? even of witnesses, some are competent, and not credible; What is an exclusive privilege, and in reference to what others are credible, and not competent-others still, are class of privileges was it used? To establish an hereditary neither competent nor credible: but produce me the tes- nobility—or favored and privileged orders-whether of timony combining both competency and credibility, to the Star and Garter, or of any other stripe, would violate sustain these charges, and no man shall again hear me, this equal provision of the great charter of our national either in or out of this House, raise my voice as an advo- rights. It would be, to make factitious great men-it would cate of the bank. But who are the witnesses against it; be to draw lines of distinction between citizens of the and what testimony do they bear? I call for it. Let the same Government, whose rights are in all respects equal, witnesses appear-and who are they? Sir, I cast no in- without regard to merit, public services, or private virdiscriminate reflection on the enemies of the bank. Many tue. But can it be understood as referable to matters of of them—yes, very many-are high-minded, honorable contract between the Government and its citizens—or men. But, if its most mischievous and untiring enemies can it, by any principle of fair and logical argument or are set to the bar, I venture the prediction, that among construction, be applied to such cases? I think not. them will be found some, high in authority, whose confi- It is insisted that exclusive privileges are granted to the dence has been abused, and whose prejudices have been Bank of the United States by the charter; and if so, I excited against the institution. While you will find oth-beg to be informed in what they consist. Will it be aners, and perhaps not a few, who have exhausted their swered that they are found in the fact, that no other fiscal credit in this institution, and therefore seek, with undy-agent of the Government is to be employed and commising malice, its overthrow, and the erection of some other, sioned during the existence of the bank, to perform the in which either hopeless insolvency, or perhaps pamper- same services? Suppose this to be the reply; and then ed bankruptcy, may find a congenial shelter. Such tes- suppose the fact to be admitted, I ask, are not the privitimony I beg leave to discard. On it I should be unwil- leges of the army contractor, the contractor for the navy, ling to found my decision as a judge-or my verdict as a nay, even, sir, the contractor to turnpike your road, or to jaror. And now, sir, I conceive that we are all placed build your bridge, equally "exclusive" as those of the in this situation: We are called on to sanction a measure bank? Most assuredly they are. The Government makes for the gratification of private malice, which has already its contract with one individual to perform certain labor confused and disordered our currency. It is demanded of and services; every other individual in the nation, on this us, that, in our official characters, we should pull down new theory, may turn about and denounce the contract a s an institution closely connected with the successful oper- unconstitutional, because it confers exclusive "priviations of the laborious industry of our citizens, whether leges!" because it has entered into stipulations with one they be engaged in commerce, agriculture, or mechan-man, or set of men, from which all other men are excluies-an institution under which all these great interests ded. This objection would strike at the foundation of evehave flourished-and under which, patient and perseve-ry public contract, nor could any public work, however ring industry has ever received its reward. These are my important to the welfare or security of the nation, be views of the subject; and if I am right in the premises, ever accomplished. Is this designed, sir? Is this the I cannot be wrong in the conclusion to which my mind is doctrine of the Executive? and is a position so preposterled. It is, that we should all, with one accord, choose ous to be sustained and sanctioned by this House? I humrather to sustain the country, than to obey the President, bly trust not. But I have not time to dwell on these conrather to incur his displeasure, however fierce, than of-stitutional objections, further than to inquire, how, and fend against our deliberate judgments, our, obligations, in what manner, and by whom are they to be settled? our constituents, and our country. An ancient Roman and in reference to the bank, how far have they been said, "I loved Cæsar much, but I loved Rome more;" settled?

and should American citizens say less of their Cæsars, and I am not, Mr. Speaker, one of those who deny to the of their country? The same spirit, I hope, Mr. Speaker, President the right, on all proper subjects and proper is still alive. I hope it may still be suffered to operate; and, if it were not hoping too much, I would indulge the pleasing hope that it might influence and direct the decision of this question.

occasions, to indulge his constitutional scruples, or to interpose his constitutional objections. I should, however, dissemble greatly, were I to deny that I dread the consequences of so unceremonious, and, as I believe, ruinous I have now attempted briefly to allude to the probable and unwarrantable an exercise of the vetoing power, as cause of that hostility to the bank, which has vented itself that which has marked the eventful career of the present in Presidential messages cabinet articles-reports of Chief Magistrate. All the kings and despots of Europe Government directors-formal denunciations from the and the world have not so frequently resorted to it withSecretary of the Treasury-the reiterated curses of pen- in the same period, and it is well for them that they have niless hirelings-aud the ten thousand ill-natured and not; for it might not have cost them their crowns alone, fulsome assaults of petty newspaper scribblers. It now but even that which their crowns cover. I will proceed remains that I should notice some of the objections which to examine the authority which the friends of the United are urged against it, and attempt to show that they are States Bank have in favor of the constitutionality of the alike futile and deceptive. institution. We will then weigh the authority of the Pres ident for the time being, against that authority; and 1 shall claim a judgment in favor of the scale which shall preponderate.

The first to which I shall invite the attention of the House, relates to the constitutionality of the charter of the bank. On this subject I have read all that has been sanctioned by the signature of the President; and while It was, if I mistake not, in the year 1791, that the his constitutional objections have had many admirers, in charter of the first "Bank of the United States" received almost every section of the country, I have ever thought the approving signature of General George Washington, that they were even an imperfect veil, and barely suffi- a man who was not only cotemporary with the constitucient to cover a deeper hostility, originating, perhaps, in tion itself, but, as I may presume, (I say it, sir, with other and entirely different causes. The principal clause, however, in the constitution, which is relied on to sustain this objection, is that in which the sacred and just princi

profound deference for the superior sagacity of the present Executive,) well acquainted with its principles and its sacred prohibitions. And is it now to be said, in the face

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