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UNION, THE CONSTITUTION. AND THE LA WS THE GUARDIANS OF OUR LIBERTY. Vol. XVIII. lVEBSESDAY, 3BAY S3, 1838. JYo. 031. DEBATE IN THE SENATE. Jlr. VcIwfer' 2d Speech, Om the SBS-Trcavarj Bill. March It. 1839. CCaocUItJ) A ad now I P'JT yo to eonaider, Mr. p .ri lent, in Ui next place, what a a admirable contrivance ihta ouM fce to secure that economy ia llit expeiues tf Government which lhe gentleman baa to raurli at lira r I. Released from all necessity f taxation, and from tlie con sequent responsibility In ilia Venule, nt e tiled upon l regard at all the amount ..I annual income, having an authority to eaue i w wsue wucnevcr H phases. i tiTac- 1 1 n Vlila le. bk w"oe1i the populous Korlb r.xircJ fon hrr fcxca Unns, to pas K)irot, e the Utaaii, what aJmirible res iraiot would be inipos ed on Government, how doubly sure would assurance be made for it, that all its expenditures would be strictly limited to ihe absolute and indispensable wants and demands of the public service! Out. sir, fortunately, very fortunately. a scheme wild, and which would be so mischievous, is totally impracticable. It rest on so astumption, for w hicli there is not the least foundation, either in reason or experience. It takes for granted that which the history of every commercial suie refutes, and our own, especially, in almost every pge. It supposes that ir redeemable Government paper can circu late ia ihe business of society, and be kept at par. This is an impossibility. Tle honorable gentleman rejects convert ible bank notes, which are equivalent to specie, aince they will always command it. and adopts, in their stead Government, piper, with no promise to pay, but a promise only to be received for debts and taxes; and he puts forth the imagination, a I have said, so often and to long refu nd, that this paper will be keptincircu liiion in the country, and w ill be able to perform the gieat business of currency and exchange, even though it exist in quantities exceeding, by many million. the demands of t.ovrrnment. If it he necessary, sir, at this day, to refute ideas like these, it must be because ,n "' Jt'Wctore Pastrr. lhe history of all countries, our own iiiclu- j ,'"re ' ample room snd verge led, is a deed letter lo us. Even at th , nmi jfh. Who could objeel to a judicious etry moment in which I am speaking, ta"ff Tariff men and anti-tariff men, small amount of treasury notes which has ! ""-rights men and consolidationists, been issued by Government, hardly a filth t,,0,e who n(' "Hrcl radicals, all pjrt of the annual revenue though thoe ftroriged and flocked together here, and notes bear an interest of five per cent I a!' ,neir difference in regard lo ulti th.mgh thee are redeemable in cash at ! oljccta, agreed to make common the Treasury at ihe expiration of the year' ". !! hey should get Into power, and though, in the mean lime, they J The ghosts, sir, which sre fabled to are every where received in Government .cro" ,!,e s,yi. whatever different hopes iW are not only of lest value than spc-',,r PWP'' 'hey may have beyond it. cie, but of less value, also, than the ntrt ' ul1 u,u, ' ,!'e present wish lo get over, of non-specie paying banks; those hanks ,,J herefore all hurry and huddle into whose paper is daily denounced here as j ,l leky nJ shattered craft of Charon, rags, fililiv rags." In my opinion, sir,l,he "e"yman. And this motley throng the whole scheme is as visionary and im-'of H"""'. sir. with at much differ practicable as any which the genius of 'pe of final object, and as little care for project ever produced. jeaeh other, made a boat of "Judicious Mr. Pre-idcnt. toward the dose of this Tariff." and all rushed and scrambled in speech of September. I find a paragraph in j 1,1 un,,, ,l,f' f':ieJ ' ner sinking, which severs! other subjects are brought j The authority of the master was able, together, and which I must ask ncruns-, lwerr, to keep them peaceable and in lion to read. j O'dtr. fur the lime, for they had the vir- llaving commended the wise and noble ,ue r ubn.ision, and though with occa bearing of the Utile slate-right party, ol un dangers of upsetting, he sucreed whieh he sys it is his pride t be a " P'8'n"g 'hem all over with his long member throughout the eventful period i tnrougli which the country has passed mce 1 82 1, he adds: "I i that year, as I have stated, the ti riff system triumphed in the councils of j son should be elected, lo arrest ihe tariff sir, that it w ill be marvellous to me if that the nation. We saw irs disastrous noli j system through the influence of the A'x-' banner, though it be said to be tattered tical bearings; foresaw its surpluses, and ( fffire Department. Here is another! and torn, shall be lowered in obeisance, the extravagancies to which it would lead; 'candid confession. Arrest the tariff by 'and laid at the footstool of Executive e rallied on the election of the late Presi-i Executive influence! Indeed! Why, sir,! power. To the sustaining of that power dens to arrest it through the influence of! this seems like hoping, from the first, forj the passage of this bill is of the utmost the Executive Department ol the Gov- the use of the veto. Mow, but by the' importance. The Administration will re ernment. In this we failed. We then veto. cnulJf the Executive arrest the tariff: g.rd its success as being to them, what Ml back upon the rights and sovereignty j of the States; and, bv the action of the j nal but but galUnt state, and through the potency of its interposition, we brought he s stem to the ground, sustained, H Was, by the Opposition snd the Admi-' I'istratloo, anl by the whole power and patroo:ig of the Government." Kvery part of this most extraordinary statement well deserves attention. In the fir.il pUce, air, here is an open 1 iil direct avowal that the main object for j 'allying on General Jackson s first elec tion, was tit accomplish the overthrow of 'he protecting pohey of the country. In '"d! Well, this is very frank. I am Riad to hear the avowal made. It end lo all suspicions. puts It was. then, lo overthrow protection. as it, that the honorable gentleman took mtich pain ut secure (Jen. Jackson's first ele.'iionf I commend his candor, in '"w acknowledging it. Hut, sir, the ho onhle member had allies and associates J" that tally. They thronged, round him r"in all quarters, and followed Ins lead. And pray, sir, was his object, as now vowed by himself, the joint object of all 'he p-rty? Dal he tell Pennsylvania, ho n"t, intelligent, straight-forward Penn latiia, thai such was his purpose! And "id Pennsylvania concur in it! Pennsyl vania w;,s !ir.tand foremost in espousing '' cause of General Jackson. Ercrv- "0-Jy kno? t.'u it more of a tiff t t.t than any oiber ia the Union. Did be tell her that bit purpose vat to break the la riff eutirely down? Did he state bit ob jects, alio. io New York? Did he state them to New Jersey? What say you. gen.lrmen from IVot.svlvania! gentle roeo from New York? and gentlemen froai New Jersey f Ye who supported Gen. Jackson's election, what say you? Was it your purpose, alto, by that election, to break down ihe protective policy? Of, if it were pot your purpose, did you! know, nevertheless pray let cs under- standdid yoa know, nevertheless, that ii ifas lite purpose. snJ the main numose. of the honorable member from Carolina? land did yon. toil, co-operate ith him! The present Chief Magistrate o the country w as a member ia IMS. He and t.i.A l .11. r us Minaui roemoer irom Carolina were, at that lime, exerting their united forces, to the utmost, ia order to brine, about General Jackson's election. Did they work thus zealously together, for the same ultimate end and purpose? or did they mean merely to change the Govern ment, and then each to look out for hitu l. a L .11. i r " self? Mr. Van Buren voted for the tariff bill of that year, commonly called the bill tf abomination;" but, very luckily, and in extremely rood season, instructions for that vote happened lo come from AI- oany i he vote, therefore, could be giv en, end the member giving it could not possibly thereby give any ofTenee to any gentleman of the state-rights party, with whom ihe doctrine of instruction is so au thentic. Sir, I will not do gentlemen injustice. Those who belonged to tariff states, as they are called, and who supported Ge neral Jacks on for the presidency, did nol intend thereby to overthrow ihe protecting policy. Thry only meant to make Ge neral Jackson president, and to come in to power along with him! At to ultimate object, each had his own. AH could free, however, in the first step. It was difficult certainly, in give a plausible ap pearance to a politic! union, among gen tlemen who differed so widely, on the great and leading question of ihe timet the question of the protecting policy. nut wit iMaeuiiy was overcome by the "racular declaration that General Jackson p'ng P''e. "Rttmeontosu!ligit.,, Wi ll, sir, the honorable gentleman tells us that he expected, when General Jack-! acts.? And is early day, the it true, sir, that, at that rly day, the honorable member was looking to the veto, not with dread, but w ith hope! Did he expect it, and did he. relv y upon it: Did he make the rally of which he speaks, in order thai he might -choose a president who would exercise u: And did he afterwards complain ol it,; or does he comphin of it now, only be- cause it was ill-directed because it turn- ed out lo bo a thunderbolt, which did nut C!l in the right pbice! In this reliance on executive influence sir. I declare 1 hardly can trust myself thai I read or quote correctly, when 1 find.' in w hat I read, or from what I quote, the honorable member from South Carolina, by his own confession, hoping or ex pecting lo accomplish any thing by Ex ecutive influence; yet so was it spoken, and so is it printed in this reliance, or this hope, or expectation, founded on Ex ecutive influence, the honorable gentle man and his friends failed; and, failing in this, he says, they fell back on the so vereignty of the states, and brought the system to the ground through the po tency of state interposition;" by which he means neither more nor less than nul lification. So then, sir, according to this that excessive fear of power which was so much cherished by the nullifiers. was only awakened to a flame in their bo so ns. wiu;n they louuu mat tney couivi not a-samplish their own en 1 by 'ba a i . . Ill J ecutir, power of tfi Pfctiden!. I am no authorized commentator, air. a lh doctriues or theories of nullifica tion, notirum. But if this expo siiion be authentic, I mast sav it is nol calculated to diminish my opposition to the sentiments of that school But the gentleman roes on to tell na that nullification, or interposition, sue ceeoeu. uy means of n, he says, be did bring the protective svstem to the around. And so, ia his published letter of Novem ber 3d, be states that "state interposition has overthrow a the protective tariff, and. wnn it, u.e American system." We are lo understand, then. air. first. that the compromise act of 1833 was forc ed upon Congress by state interposition, or nuiiiacaiion. Next, tliat its object and design, so far as the honorable gentleman was concern ed in it, wss to break down and destrov forever, the whole protective policy f we country. And lastly, that it has accomrlished that purpose, and that the last vestige of turn j'uiirj is wearing away. . Now, sir, I must. ssy, that in 1833. 1 entertained no doubt at all that the de sign of the gentleman was exactly what ne now states. Un this point, I have not Deca deemed, it was not. certainly, the design of all who acted with him; but, that it was his purpose. I knew then, as clearly ss I know now, sfter his open avowal or it; and this belief governed my conduct at the lime, together with that of a great majority of those in both Houses of Congress, who after the act of 1821, ull bound to carry out the provi sions of that act, and lo maintain them reasonably and fairly. I opposed the compromise act with all my power. It appeared lo me every way objectionable; it looked like an attempl lo make a new Conatitution; to introduce another funda mental law, above the power of Congress, and which should control the authority and discretion of Congress, in all time to come. I his, of itself, was a conclusive objection with me; I said so then, have often said so since, and say so now. 1 said, then, thai I, for one, should not be bound by that law more than by any other law, except that, as it was a law pasted on a very important and agitating aubjert, I should nol be disposed to in terfere with it, until a clear rase of neces sity shall arise. On this principle I have acted since. When that care of necessi ty shall arise, however, should I be in public life, 1 shall concur in any altera tion of that act which such necessity may require. That such an occasion may come, I mire than fear. I entertain something stronger than a doubt upon the possibility of maintaining the manufac tures and industry of this country, upon such a syvtcm a the compromise act will leave us, w hen it shall have gone through its process of reduction. All this, how ever, 1 leave in the future. Having had'occasion, Mr. President, lo speak of nullification and the nullifiers, I beg leave to say, that I have nol done so for any purpose of reproach. Cer tainly, sir. I sre no possible connexion, myself, between their principles or opi nions, and the support of this measure. They, however, must speak for them selves. They may hae intrusted the bearing of their standard, for aught I know, lo the honorable member from South Carolina; and I perceived last sea stnn what 1 perceive now, that in Ins opinion there is a connexion between these projects of government and the doc- trmes of nu'.lmcation. 1 can only say, Cromwell said the battle of Worcester wss to him ' a crowning mercy." Whethergcntlemen w ho havetlistinguish ed themselves to much br their extreme Jealousy of this government, shall now bud it consistent with their principles to give their aid in accomplishing this con summation, lemains to dp seen. The next exposition of the honorable gentleman's sentiments and opinions is his letter of November 3.1. J his letter, sir, is a curiosity. As a paper, describing political movements, and exhibiting political opinions, it is without a parallel. It phrase is alloge- ther military. It reads like a despatch. or a bulletin from headquaters. It is full of attacks, assaults, and repulses. It re counts movements and counter move ments; speaks of occupying one position, falling back upon another, and advancing to a thirl; it has positions to cover ene mies, and positions to hold allies in check. Meantime, the celerity of all these opera tions reminds one of the rapidity of the military actions of the King of Prussia, in the seven years war. Yesterday he wss in the South giving battle to the Austrian to-day he is in Saxony, or Si lesia: instanlly he is found to have tra versed the Electorate, and is facing the Russian and the Swede on his Northern frontier. If you look for his place on the , map, oeiore you ana ii ne nas quiueti u. ex-tUe it alvys marcht!jg, flying;, falling a a" a - t I . . I bark, wheeling, attacking, defending, sur prising; fighting every where, and fight : I, . - . . mx mu u.e iiue. ia one particular, now ever, the campaigns, described in this let ter, differ from the manner ia which those of the great Frederick were conducted. I think we nowhere read in the narrative of Frederick's achievements, of his tak ins a position to cover so enemy, or. a position to hold an ally in check. These tefinemeuts, in the science of tactics and of war, are of more recent discovery. Mr. President, public men mutt cer tainly be allowed to change their opini ons, and their associations, whenever they see fit. No one doubts this. Men may have grown wiser, they may have atiaineu to better ana more correct views of great public subjects. It would be un fortunate, if there were any eode which should oblige men, in public or private life, to adhere lo opinions once entertain ed, in spite of experience and better knowledge, and against their own con victions of their erroneous character. Nevertheless, sir, it must be acknowledg ed, that what appears to be a sudden, as well ss a great change, naturally produ ces a shock, i confess, for one, I was shocked, when the honorable gentleman, at the last session, espoused this bill of the administration. And when 1 first read this letter of November, and, in the short space of a column snd a half, ran through such a succession of political movements, all terminating in placing the honorable member in the ranks of our opponents, snd entitling him lo take his seat, as he has done, among them, if not st their head, I confess 1 felt still greater surprise. All this teemed a good deal too abrupt. Sudden movements of the affections, whether personal or poliucal. are a mr.e out oi nature. Several years sgo, sir, some of ihe its of England wrote a mock play. intended lo ridicule the unnatural and false feeling, the tentimcntality, of a certain German school of literature. In this play, two strangers are brought together st an inn. While they are war ming themselves at the fire, and before their acquaintance is yet five minutes old, one springs up and exclaims to the other. " A sudden thought ttiiket me! Let us twear an eternal friendship!" This affectionate offer was instintty accepted, and the friendship duly sworn. unchangeable and eternal! ftow, sir, how long this eternal friendship lasted, or in what manner it ended, those who wish to know, may learn by referring lo the play. lint it seems to me, sir, that the honor able member has carried his political sentimentality a good deal higher than the (light of the German school; for he appears to have fallen suddenly in love, not with strangers, but with opponents. Here we all had been, sir, contending against the progress of Executive power. and more particularly, and most strenuous- y, against the projects and experiments of the Administration, upon the currency. 1 he honorable member stood among us, not only as an associate, but as a leader. We thought we were making some head way. 1 he l'cople appeared to be coming to our support and our assistance. The country had been roused; every successive election weakening the strength of the! adversary, and increasing our own. We wete in this career of success carried atrongly forward by the current of public opinion, and only needed to hear the cheering voice of the honorable member. "Once more unto the breach, dear friends, once more! and we ahottld have prostratsd, forever, this anti-constitutional, anti-commercial, anti-republican, and anti-American policy of the Administration. H it, instead of these encouraging and animating accents, behold! in the very crisis of our affair, on the very eve of victory, the honorable member cries out to the enemy not to us, his allies but to the enemy" Hol loa! A sudden thought strikes me! I abandon my allies! Now I think of it, they have always been my oppressors! I abandon them, and now let you and tnt swear an eternal friendship!" Such a proposition, from such a quarter, sir, was not likely to be long withstood. The other party was a little coy, but. upon the whole, nothing loath. After proper hesitation, and a I utile decorous blushing;, it owned the soft impeachment, admitted an equally-sudden sympathetic impulso on its own side; and, since few words are wanted where hearts are al ready known, the honorable gentleman takes his place among his new friends, amidst greetings and caresses, and is al ready enjoying the tweett of an eternal friendship. In this letter. Mr. President, the writer says, in substance, that he saw, at the commencement of the last session, that affairs had reached the point, wheu he and his friends, according to the course they should take, would reap the lull harvest of their long and arduous struggle, against the encroachments and abuset of the General Government, or lote the fruits of all their labors. At that time, he says. State interposi tion (via. Nullification) had overthrown the protecting tariff and the American tystem, and put a stop to Congres sional unrp alien; that b kid prf'tous- ly been united with the National Re publican; and that their joint siiackt bad brought down the powerof the Executive; but that, in joining such allies, he wss not insensible to the embarrassment of his position; that, with them, victory it- sen was Cangernur; and that therefore be had been waiting for events; that now, (that it to asy, io September last.) the joint attacks of the silica had bnwghi down Lxecutive power; that the Ad ministration had become divested of power and influence, and that it had become clear that ihe combined attacks of the allied forces would utterly overthrow and demolish it. All this he saw. But he saw, too, as he says, thai in thai ca-e the victory would enure, not to him or his cause, but to his allies and their cause. I do not mean to say thai he spoke of personal victories, or alluded lo personal objects, at all. He spoke of his cause. lie proceeds to say, then, that never was there before, and neyer. probably. ill there be again, so fair sn opportunity for himself and his friends to carry out their own principlet and policy, and to retp me iruns ol their long and arduous struggle. These principles and this po liry, air, be il remembered, he represents, all along, at identified with the principles and policy of nullification. And he makes nse of this glorious opportunity, by refusing to join his late alliea in any further attack on those in power, rallying anew the old Stat rights party to hold in check their old opponents, the National Republican party. This, he says, would enable him lo prevent the complete ascendancy of his allies, and to compel the Southern division of the Administra tion party to occupy the ground of which he proposes to take possession, to wit, the ground of the old State-rights party. They will have, he says, no other alter native. Mr. President, stripped of its military language, what is the amount of all this, but thai, finding the Administration weak and likely to be overthrown, if the Oppo sition continued with undiminished force. he went over lo it, to join it; to act, him self, upon nullification principle; and toro.npel the Southern members of the Administration to meet him on those principle! in other words, to make a nullification Administration, and to lake such part in it as should belong lo him J and his friends. He confesses, sir, that ii thus abandoning his allic. and taking a position to cover those in power, he perceived a thork would be created, which would require tome drgiee of resolution and firmue!. Id this he was right. A shock, sir, hat been created; yet there he is. This Administration, sir, is represent ed at succeeding lo ihe list, by an inheritance of principle. It professes to tread in the footsteps of its illustrious predecessor. It adopts, generally, the sentiment, principles, and opinions, ol General Jackson Proclamation and ull: and yet. though he be the very piioce of Nu!lirier., and but lately regarded as the chiefest of sinners, it receivet the honor able gentleman with the u'mostcomplaceii cy; to all appearance the delight i mutual; they find him an able leader, he finds them complying followers. But, sir. in all this movement he understand himself. He means to go ahead, and to take them along. He is in the engine car: he con . . avast trols the locomotive. His hand regulates the steam, to increase or retard speed, at his own discretion. And as to the occupants of the passenger-cars, sir, they arc as happy a set of gentlemen as one might desire lo see, of a summer's day. They feel that they are in progress: they hope they shall not be run off the track; and when they reach the end of their journey, they desire to be tiiatikfull! The arduous struggle is now all over. Its richest fruits are ail reaped; Nullifica tion embraces the Sub-Treasuries, and oppression and usurpation will be heard of no more. O i the broad surface of the country. sir, there is a spot call-d " the Hermit age." In that residence is an occupant , verv well known, and not little remark able both in person and character. Sup pose, sir, the occupant of the Hermitage were now to open that door, enter the Senate, walk forward, and look over the Chamber to the seats on the other side. Be not frightened, gentlemen, il is but r. t i s skelcii. suppose ne snooio inns come in among us. sir, and ee into whose hand has fallen the chief support of that Administration, which was, in so great a degree, appointed by himself, and which he fondly relied on io maintaii the principles of his own. If gentlemen were now to see his steady military step, his erect posture, his compressed lips, bis finnlv knitted brow, and his eye lull of fire, 1 cannot help thinking, sir. 'hey woiil.l all feel somewhat oueer. There! would be, I imagine, not a little awkward moving and shifting in their seats. They would expect soon io hear the roar of ihe lion, even if they did nol feel his paw. I proceed, sir. to lhe speech of the honorable member, delivered on the 15th of February last, in which he announces propositions, respecting the constitutional power of Congress, which, if they can 09 maintained, must necessarily give a newdirsetttja tooarhvg'iUteoo.atfd would go far toward showing the necessity of the present bill. 1 The honorable member, air,' lasista thai Congrest has no right to make gen eral depositee of the public revensa ia baaksi and he denies, too. bat it eta authorize the reception of any thing ut gold aad ailvar io the payment of debts -and does to the Government. These question, sir. arc qvesiions of magnitude, certainly, and, since they have been raised, ought to be answered. Thy may be considered together. Allow mo' in the first place, however,! clear then -from some extraneous matter. The ho norable) member pule the first qoestiaa thus; Ha- we the right to make de positee in the bank!, in order to bestow confidence in them, with a view to enable them to resume specie pay menu? And. by way of illustration, asks the further question. Whether Government coulJJ constitutionally bestow on individual, or a private association, the earn advantages, in order to enable thttn to pay their debts? Bui this I lake not to be the question. The true inquiry is. May not Congress authorise the public revenue, in the . intervening lime between it receipt and . us expenditure, to be deposited in bank. for the general purpose f safe-keeping, in the same way as individuals deposit . their own money? And if this mode of safe-keeping be at'ended with incidental advantage, of considerable importanee 10) the community, is not ihsl reason which may properly govern the discretion of Congress in the ease? To benefit the bank, or lo benefit Ihe community, is, in ' this case, not the main object; it is only the incident; and as to the esse put for illustration, it would not be expectrd of Congress, certainly, to make depositee with individual who a view, principally, of enabling such individuals to pay their debts; it migh, nevertheless, be very com petent to Congress, in some eases, and very proper exercise of its power, to de posite money, even with individuals, ia such manner ss that it might be advanta geous to the depositary. This incidental or consequential advantage results, often, from the nature of the transaction, and ia -inseparable from it. It may always be enjoyed, m ire nr lets, by any one, who holds public money for- disbursement. In order to the necessary exercise of any f its po. rs. Government doubtless may in ike c n racis wit'i banke or other corporations as well as with individuals. If it has occasion to buy bills of exchange, it may buy them of banks. If it has stock or Treasury notes to sell, it may sell to banks, as the Secretary hat lately proposed. It may employ banks, there fore, at its discretion, for the keeping of the public moneys, at thote moneys must be kept somewhere. It can no more need a specific grant of power in the Con stitution for such a purpose, than one merchant, becoming agent for another to receive and pay out money, would need a particular clause in bis authority, ena bling him to use banks for these purpotea as ottter persons use them. No question has ever been rated in this Government iibotii the power of Congress lo authorize such deposits. Mr. Midisnn, in oppos ing the first bank charter in 1791. argued, strenuously, that a Bank of ihe United ' Slates was not necessary to Government as a depository of the public moneys, because, he insisted, its use could be supplied by other bank. "This sufficient ly shows his opinion. And in 1800, Congress made it the duty of the collectors of customs to deposits bonds for dutiea ia the bank and iu branches for collection. When the charter of the first bank ex pired, in 1811, almost every gentleman who opposed its renewal contended that it was not necessary for the purpose of holding depositee of revenue, because state banks could answer all such purpos es equally well. A strong and prevail ing tone of argument runs through all the speeches on thai occasion, tending to this conclusion, viz. that government may de rive from state banks all the benefit which a Bank of the United States could render. , mQf wli.n lhe chiirler of lhe . . bank was granted, it contained, aa origi nally presented, no pioviaion for making ihe public deposite in the bank. -The bill was probably drawn, in this particu lar, from the model of the first charter, in which no such clause was contained, without adverting to the law of 1800; but a section was introduced, on m Q)(mOR making il ihe duty of collectors" to depo site the public moneys in the bank audi its branches. It was this section of the law which souiofus thought was viola ted by the removal of the depnaites. The niaiii objeci of the deposite bill of 1836, as we know, was to regulate depositee of the public money wild the slate banks; so that, from lhe commencement of the government lo the present lime, nobody i... .t..- i.. e . l . has thought of imkin lne constitutional power of Congress to HU,e ,uch arrangement. The gentleman's other proposition, and winch he lays down with still more eon- fideuce and emphasis, is. that Congress cannot, constitutionally, authorize ihe re ceipt of bank notes, though they be notes of specie-paying banks, in p.ymeut of debts to the government; because, he tayt, that would make then) money; and if we make then money, &ea we f-i
The Durham Recorder (Durham, N.C.)
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May 23, 1838, edition 1
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