7

we obtained foreign capital (Dutch and French,) the operations of Government, that occasion to aid us. During the late war American stock the transfer annually, of money from the west was sent to Europe to sell; and, if I am not mis- to the Atlantic States. What is the actual informed, to Liverpool. The question does course of things? The business and commerce not depend upon the place whence the capital of the west are carried on with New Orleans, is obtained, but the advantageous use of it. with the southern and southwestern States, and The confidence of foreigners in our stocks is with the Atlantic cities. We transport our a proof of the solidity of our credit. Foreign- dead or inanimate produce to New Orleans, ers have no voice in the administration of this and receive in return checks or drafts of the bank; and if they buy its stock, they are Bank of the United States at a premium of a obliged to submit to citizens of the United half per cent, We send, by our drovers, our States to manage it. The Senator from Ten-live stock to the south and the southwest, and nessee (Mr. WHITE,) asks what would have receive similar checks in return. With these been the oondition of this country, if during drafts or checks our merchants proceed to the the late war, this bank had existed, with such Atlantic cities and purchase domestic or foan interest in it as foreigners now hold? I will reign goods for western consumption. The tell him. We should have avoided many of lead and fur trade of Missouri and Illinois is also the disasters of that war, perhaps those at De- carried on principally through the agency of troit and at this place. The Government would the Bank of the United States. The Governhave possessed ample means for its vigorous ment also transfers to places where it is wanted, prosecution; and the interest of foreigners, through the bank, the sums accumulated at the British subjects especially, would have opera- different land offices for purchases of the pubted upon them, not upon us. Will it not be a lic lands. serious evil to be obliged to remit in specie to foreigners the eight millions which they now have in this bank, instead of retaining that capital within the country to stimulate its industry and enterprise?

Now all these varied operations must go on; all these remittances must be made, Bank of the United States or no Bank. The bank does not create but it facilitates them. The bank is a mere vehicle; just as much so as the steamboat is the vehicle which transports our produce to the great mart of New Orleans, and not the grower of that produce. It is to confound cause and effect, to attribute to the bank the transfer of money from the west to the cast. Annihilate the bank to-morrow, and similar transfers of capital, the same description of pecuniary operations must be continued; not so well, it is true, but performed they must be, ill or well, under any state of circumstances.

bank.

The President assigns in his message a conspicuous place to the alleged injurious operation of the bank on the interests of the western people. They ought to be much indebted to him for his kindness manifested towards them; although, I think, they have much reason to deprecate it. The people of all the west owe to this bank about thirty millions, which have been borrowed from it; and the President thinks that the payments for the interest, and other facilities which they derive from the operation of this The true questions are, how are they now bank, are so onerous as to produce "a drain of performed? how were they conducted prior to their currency, which no country can bear with the existence of the bank? how would they be out inconvenience and occasional distress." after it ceased? I can tell you what was our His remedy is to compel them to pay the whole condition before the bank was established; and, of the debt, which they have contracted in a as I reason from past to future experience, unperiod short of four years. Now, Mr. Presi- der analogous circumstances, I can venture to dent, if they cannot pay the interest without predict what it will probably be without the distress, how are they to pay the principal? If they cannot pay a part, how are they to pay the Before the establishment of the Bank of the whole? Whether the pay of the interest be or United States, the exchange business of the be not a burthen to them, is a question for west was carried on by a premium, which was themselves to decide, respecting which they generally paid on all remittances to the east of might be disposed to dispense with the kindness 24 per ct. The aggregate amount of all remitof the President. If, instead of borrowing tances throughout the whole course of the year thirty millions from the bank, they had borrow-was very great, and instead of the sum then ed a like sum from a Girard, John Jacob Astor, paid, we now pay half per cent. or nothing, if or any other banker, what would they think of notes of the Bank of the United States be used. one who would come to them and say "Gentle- Prior to the bank, we were without the capital men of the west, it will ruin you to pay the in- of the thirty miilions which that institution now terest of that debt, and therefore I will oblige supplies, stimulating our industry and invigor you to pay the whole of the principal in less ating our enterprise. In Kentucky we have no than four years." Would they not reply-specie-paying bank, scarcely any curren We know what we are about; mind your own cy other than that of paper of the Bank of business; we are satisfied that in ours we can the United States and its branches. make no only the interest on what we loan, but a fait profit besides?"

How is the west to pay this enormous debt of thirty millions of dollars? It is impossible. It A great mistake exists about the western op- cannot be done. General distress, certain, eration of the bank. It is not the bank, but wide-sperad, inevitable ruin, must be the conthe business, the commerce of the west, and sequences of an attempt to enforce the pay

cial and constitutional relations between the tion of every term of the Supreme Court, he President and the two Houses of Congress, should send for the record of its decisions, and subsist with them as organized bodies. His discriminate between those which he would, action is confined to their consummated pro-and those which he would not, execute, beceedings, and does not extend to measures in cause they were or were not agreeable to the their incipient stages, during their progress Constitution, as he understands it. through the Houses, nor to the motives by which they are actuated.

There is another constitutional doctrine contained in the message, which is entirely new to me. It asserts that "the Government of the United States have no constitutional power to purchase lands within the States," except "for the erection of forts, magazines, arsenals, dock.

There are some parts of this message that ought to excite deep alarm, and that especi. ally in which the President announces that each public officer may interpret the Constitution as he pleases. His language is: "Eachyards, and other needful buildings;" and, even public officer, who takes an oath to support the for these objects, only "by the consent of the Constitution, swears that he will support it as Legislature of the State in which the same shall he understands it, and not as it is understood be." Now, Sir, I had supposed that the right by others." "The opinion of the judges of Congress to purchase lands in any State was has no more authority over Congress than the incontestible: and, in point of fact, it proba opinion of Congress has over the judges; and, bly, at this moment, owns lands in every State on that point, the President is independent of of the Union, purchased for taxes, or as a judgboth." Now, Mr. President, I conceive, with ment or mortgage creditor. And there are great deference, that the President has mis various acts of Congress which regulate the taken the purport of the oath to support the purchase and transfer of such lands. The adConstitution of the United States. No one visers of the President have confounded the swears to support it as he understands it, but to | faculty of purchasing lands with the exercise of support it simply as it is in truth. All men exclusive jurisdiction, which is restricted by are bound to obey the laws, of which the Con- the Constitution to the forts and other buildstitution is the supreme; but must they obeyings described. them as they are, or as they understand them? The message presents some striking instances If the obligation of obedience is limited and of discrepancy. 1st. It contests the right to controlled by the measure of information; in establish one bank, and objects to the bill that other words, if the party is bound to obey the it limits and restrains the power of Congress to Constitution only as he understands it, what establish several. 2d. It urges that the bill would be the consequence? The judge of an does not recognize the power of State taxation inferior court would disobey the mandate of generally; and complains that facilities are a superior tribunal, because it was not in con- afforded to the exercise of that power, in reformity to the Constitution, as he understands it,spect to the stock held by individuals. 3d. It a custom house officer would disobey a circular objects that any bonus is taken, and insists that from the Treasury Department, because con-not enough is demanded. And 4th. It comtrary to the Constitution, as he understands it; an American Minister would disregard an instruction from the President, communicated through the Department of State, because not agreeable to the Constitution, as he understands il; and a subordinate officer in the army or Mr. President, we are about to close one of navy would violate the orders of his superior, the longest and most arduous sessions of Conbecause they were not in accordance with the gress under the present Constitution; and when Constitution, as he understands it. We should we return among our constituents, what achave nothing settled, nothing stable, nothing count of the operations of their Government fixed. There would be general disorder and shall we be bound to communicate? We shall be confusion throughout every branch of admini-compelled to say that the Supreme Court is stration, from the highest to the lowest officers paralyzed, and the missionaries retained in -universal nullification. For, what is the doc-prison in contempt of its authority, and in detrine of the President but that of South Caro- fiance of numerous treaties and laws of the lina applied throughout the Union? The Pre- United States; that the Executive, through the sident independent both of Congress and the Secretary of the Treasury, sent to Congress a Supreme Court! Only bound to execute the tariff' bill which would have destroyed numelaws of the one and the decisions of the other rous branches of our domestic industry, and as far as they conform to the Constitution of led to the final destruction of all; that the veto the United States, as he understands it! Then has been applied to the Bank of the United it should be the duty of every President, on his States, our only reliance for a sound and uniinstallation into office, to carefully examine all form currency; that the Senate has been the acts in the statute book, approved by his violently attacked for the exercise of a clear predecessors, and mark out those which he constitutional power; that the House of Repre was resolved not to execute, and to which he sentatives has been unnecessarily assailed, and meant to apply this new species of veto, be- that the President has promulgated a rule of cause they were repugnant to the Consti ution, action for those who have taken the oath to as he understands it. And, after the expira.support the Constitution of the United States,

plains that foreigners have too much influence; and that stock transferred loses the privilege of representation in the elections of the bank, which, if it were retained, would give them more.

WASHINGTON, SEPTEMBER 3, 1832.

VOL. VI..............BY DUFF GREEN..$2.50 PER ANNUM............. No. *23

EDITORIAL.

WONDERS WILL NEVER CEASE.

ties the same effect. If the editor means that General Hayne ought to have voted in the conference for the increase of duties produced by The miserable tricks, gross falsehoods, and the amendments of the Senate, for the purpose disingenuous misreptesentations of the presses of preventing a compromise of the disagreein the pay of the kitchen cabinet have long ment between the two Houses, and thereby since ceased to be a matter of surprise; and the defeating the bill, then is he widely mis. only feeling they are now capable of exciting taken, not only with regard to the ultimate is that of disgust and pity for the degradation effect of the vote, but as to the man he cenof poor human nature. Let but the most im-sures. By voting otherwise than he did, Genprobable romance emanate from one of the eral Hayne would have incurred the odium of least responsible of the pack, and it is eagerly voting for increased duties, and the bill would caught at and circulated far and wide by the have certainly passed with his name recorded whole of the kennel. Having manufactured in support of ultra-protection. Besides, even falsehoods by the wholesale, and nearly ex- the bill by the course pointed out by the Balti had the improbable hope existed of defeating hausted their store of the raw material, they have at times been reduced to the most lu-more Republican,the editor of that print knows dicrous expedients for the sake of keeping the and nice sense of honor to believe him capable too well General Hayne's chivalric character exclusive control of the home market. Take, for instance, as a sample, the last effort that apof attaing his ends by such base and unworthy peared in the Globe of yesterday, copied from expedients. We notice one gross falsehood the Baltimore Republican; and what in the that General Hayne "boasted of the adroitness and then we are done. The Republican says name of Baron Munchausen is it? Why a charge against General Hayne, of South Caro with which he managed Messrs. Wilkins and lina, of having been principally instrumental in Dickerson, to induce them to aid him in prothe passage of the tariff act of 1832, supported curing an agreement between the two Houses by the fact that General Hayne, in the commit- with regard to the provisions of the bill, withtee of conference, on the disagreeing votes of it is only necessary to say that there is not one out which it could not have been passed. 'Now the two houses, voted to recede from the word of truth in this from beginning to end; amendments of the Senate, and by having and that the Baltimore Republican has no betMessrs. Dickerson and Wilkins with him, ef-| fected a compromise. Now, what were the ter authority for it than, perhaps, the say-so of facts? It is well known to the editors both of the debate in this papers of the city furnish some irresponsible letter writer: the reports of the Globe and Republican that the amendments of the Senate, to which the House reno authority for it. fused to accede, and on which the committe ofj conference was appointed, considerably in creased the duties in the bill as it came from The northern mail of yesterday brought us the House. General Hayne's course, there- the letter of the President and Vice-Presidents fore, was a plain one: he had voted against ev- of the Baltimore Convention, announcing to ery one of these amendments in the Senate, Mr. Van Buren his having been selected by and he voted to recede from them in commit that body as their candidate for the Vice Presi To be consistent, he could vote in no dency, and the letter of the last named gentleHe had ever been an uncompro- man modestly accepting "this distinguished mising opponent of high duties, and on both mark of their confidence." With regard to these occasions he voted for their reduction. these letters, two questions naturally present In fact, General Hayne's were not votes of themselves: Why are they published at this compromise, though the votes of Messrs. Wil- particular juncture? and why has their publica But the sage editor tion been delayed thus long? The convention of the Republican says: "If Mr. Hayne had sat in May, and Mr. Van Buren has been not supposed that some advantage was to be nearly two months in the country. The let gained by the passage of the bill, why should ters announcing the nomination is dated on the he endeavor to place it in a shape in which it 22d of May, and Mr. Van Buren's letter in ancould be passed?" In what way, it is asked, swer, is dated on the 2d of August, instant. Is did Mr. Hayne endeavor to put the bill in a it to be supposed that the politic nominee treatshape in which it could be passed? By voting ed those on whom he is to rely for his future throughout for the lowest duties. If Mr. advancement with so little respect as to keep Hayne's votes had the effect charged by the them in suspense, touching a matter of such Baltimore Republican, then had the votes of moment, for nearly two months? A New every southern member who voted for low du-York paper, speaking of the correspondence,

tee.

other way.

kins and Dickerson were.

MR. VAN BUREN.