Part 253

Bank of the United States, dividends on stock of, 188; capital of branches, 188; expenses and losses, 188; report on, 216.

Bank of the United States.--In the House, report on the memorial of the stockholders of the United States' Bank, 215.

In Senate.--Petition of the President and Directors for a renewal of their charter, 252; bill to incorporate the subscribers considered, 266; moved to strike out the first section, in order to try the principle, 266; reasons of the committee for reporting the bill, 266; Congress has power to pass such a bill, 266; powers granted by the eighth section of the first article, 266; the enumeration of certain powers excludes all other powers not enumerated, this point examined, 267; not true when applied to express grants of power, strictly incidental to some original substantive power, 267; subject examined, 267; it is said Congress can exercise no power by implication, yet can pass all laws necessary to carry the constitution into effect, 267; the power to create the Supreme Court must be derived by implication, 268; explained by an example, 268; according to the construction given to other parts of the constitution, Congress has the right to incorporate a bank to enable it to manage the fiscal concerns of the nation, 268; the law to erect light-houses is not a law to regulate commerce, 269; it is said the advocates of a bank differ among themselves in fixing upon the general power to which the right to create a bank is incidental, 269; no man ventures to declare that a bank is not necessary, 270; this is an apparent objection to the constitutional argument, 270; the medium of State banks, 270; the means by which the constitutional powers may be carried into effect, may vary if the powers do not, 270; the motion to strike out goes to the entire destruction of the bill, 271; the usefulness of the present bank admitted, 271; what is the state of the bank in this city, 271; the conduct of the bank has been honorable, liberal, and impartial, 271; in every instance where it possessed the ability, it has met the wishes of the government, 271; it is said these stockholders have enjoyed a boon for twenty years from which all others have been excluded, 272; it is impossible to devise any written system of Government which after a lapse of time, extension of empire, &c. shall be able to carry its own provisions into operation, hence the necessity of implied or resulting powers, 272; whence do you get the right to erect custom-houses, but as an implied power, 272; want of power to grant an act of incorporation has ever appeared the most unsound and untenable objection, 272; the situation of this bank on the expiration of its charter, and the effects on the community consequent upon it, 273; the amount of specie in the United States, 273; effects which the dissolution of the bank will have on the revenue and fiscal concerns of the country, 274; will your money when collected be safe in the State banks? 274; irksome to oppose a law which has been in existence twenty years, and acquiesced in by the State and General Governments, 275; it has been said, that it is the fashion to eulogize the constitution, 275; if it could be shown that there had been aberrations by Congress from the enumerated powers of the constitution, would it be correct to use those aberrations as precedents? 276; the present constitution was adopted as a remedy for the non-compliance of the States with the requisitions under the Articles of Confederation, 277; the present Government is in its nature and character a government of enumerated powers, reserving all unenumerated to the State Governments, or to the people, 277; "to provide for the common defence and general welfare," explained, 277; these terms contain no grant of power whatever, but are used to express the ends or objects for which particular grants of power were given, 278; instances of aberrations from the enumerated powers examined, 278; erection of light-houses, 278; custom-houses, 278; these two powers indispensably connected with and subservient to particular enumerated powers, 278; light-houses among the common, necessary, and proper means, for the regulation of commerce, 279; is the incorporation of a bank of this character? 279; the defying manner of the arguments advanced in favor of the renewal of the charter, has occasioned this debate, in order to avert the passage of an unjustifiable law, 280; it is said that this has been made a party question, although the first law passed prior to the formation of parties, 280; explanation, 280; the pointed difference which has been made between the opinions and instructions of State legislatures, and the opinions and details of deputations from Philadelphia, 280; the new and unconstitutional veto which this bill establishes, 281; the vagrant power to erect a bank after having wandered throughout the whole constitution, has been located on that provision which authorizes Congress to lay and collect taxes, 281; suppose the constitution had been silent as to an individual department of this government, could you under the power to lay and collect taxes, establish a judiciary? 281; what is a corporation such as the bill contemplates? 282; the States have the exclusive power to regulate contracts, 282; what participation has this bank in the collection of the revenue? 282; the operations of the Treasury Department may be as well conducted without a bank as with one, 283; the management of the landed system, 283; it is said the construction given to the constitution has been acquiesced in by all parties, 283; when gentlemen attempt to carry this measure on the ground of acquiescence, do they forget that we are not in Westminster Hall? 284; the doctrine of precedents applied to the Legislature, is fraught with the most mischievous consequences, 284; not empowered by the constitution, nor bound by any practice under it to renew the charter to this bank, 284; all power may perhaps be resolved into that of the purse, by whom is it wielded? 284; the Duke of Northumberland is said to be the most considerable stockholder in the bank, 285; the principle here involved is most important; it is no less than whether we shall surrender to the State Governments the power of collecting our revenue, and rely upon the old system of requisitions, 285; the bank has answered the most sanguine expectations of its authors, 285; we are required to discard the lessons of experience, to try some new scheme, 285; we are to ruin many innocent and unoffending individuals, and derange the finances, and for what? 286; it is a contest between a few importing States, and the people of the United States, 286; it is a contest between the friends and enemies of the federal constitution revived, 286; if we yield to the States the collection of our revenue, what will remain of our Federal Government? 286; it will be a political fiction, 286; hostility to the Union would prompt to join the hue and cry against this institution, 286; it is said that debate is useless on this question, 287; to form a correct opinion we must retrospect the defects of the old government, and ascertain the remedy which was anticipated in the present constitution, 287; the great cause of the inefficiency of the former was owing to its dependence on the States for the means to carry its powers into effect, 287; the present constitution was framed with ample authority to pass all laws necessary and proper for the attainment of its objects, 287; erroneous impressions have arisen from ignorance of facts relative to the practical fiscal operations of the government, 287; the power to create a bank is not derived by implication, 287; the Convention granted to the new Government in express and unequivocal language, ample authority to use all the means necessary and proper for the attainment of the ends for which it was instituted, 287; the question of constitutionality depends upon facts dehors the instrument, 287; if it be a fact that a bank is necessary and proper to effectuate the legitimate powers of government, then our power is express, and we need not resort to implication, 287; endeavor to prove this to be a fact, 287; the erection of a bank by the Congress of 1781, 287; the opinion of General Hamilton, 288; character of the Congress of 1781 stated, 288; authority of Washington, 288; the cry is, "down with the bank, huzzah for the party!" 288; sound interpretation of the words "necessary and proper," 289; those opposed to the bill, predicate their arguments upon the probability that the State banks will answer, this is an admission of the necessity, 289; congeniality between a bank and the collection of our revenue, 289; the repeated sanctions the bank has received from different Administrations is strangely accounted for, 290; whence was derived a power to pass a law, laying an embargo without limitation, 290; twelfth article of the amendments to the constitution considered, 290; it is not pretended that our fiscal concerns could be managed with gold and silver, 290; if the bank is removed, the Secretary of the Treasury must nationalize the bank paper of the great importing States, 291; charges of British influence, 291; the embarrassments at Philadelphia, it is said, could not have been occasioned by the bank, 292; Kentucky, I am only thine, 292; former course of proceeding in regard to the principle of a bill and its details, 292; the course of the press on this subject, 292; it is said, that this question is discussed on party grounds, 293; a view of the beginning and operations of the bank, 293; no democrat has been admitted as a director of this institution, except in New York, 294; petty mischievous intrigue for carrying measures through Congress, 294; for what do merchants form a part of the bank deputies? 294; what did mechanics here say relative to granting this charter? 294; there is scarcely an evil which has not been attributed to the embargo, and which is not now with as little justice attributed to the non-renewal of the charter of the bank, 294; if not renewed, difficult to obtain loans, it is said, 295; instructions to Senators, their force discussed, 296; a State has not a moral right to violate the constitution, and cannot give it to her Legislature, nor the Legislature to the Senator, 296; the primary question is, whether the General Government when it first came into operation, did not possess the power of creating a National Bank, 296; to answer this, let us inquire whether there was any possibility of carrying into effect, with any tolerable convenience and advantage, the several provisions of the constitution, unless this power exists, 297; it is admitted by all that the agency of a bank affords the greatest facility and security of any plan that can be devised for the collection of a revenue, and its transmission to the Treasury, 297; other admissions stated, 297; the consequence which follows from these admissions, 297; if Congress once possessed this power, what has taken it away? 297; to create this bank is said to be legislation by implication, 298; it is said the corporation will be a monopoly, 298; anticipated dangers of erecting corporations, 298; a violation of the constitution, however solemnly sanctioned or long endured, can never become right, 299; difference in the present case, 299; recapitulation, 299; rule of construction in construing the constitution, when legislating on enumerated powers, 300; the authority to grant this charter is found in section seven, clauses first, second, and last, 301; meaning of the words "necessary and proper," 301; great stress is laid on that amendment which says "all power not expressly granted, shall be retained," &c., 301; it is easy to prove that the broad grant given to Congress to legislate for the District of Columbia, in all cases is restricted and paled in by the constitution, 302; this power to charter a bank is expressly granted, 302; it is necessary and proper for carrying into effect another general power to borrow money, 302; no arguments yet advanced to prove that this power is an original and substantive, and not a derivative or implied power, 303; to determine if a measure is just and proper, we must consider whether it has a just or useful relation to the end, 303; of all depositories banks are the safest, 303; it is asked, why not confine the duty of the bank to collecting the public revenue? 303; Congress are to devise means most sure and expeditious to borrow money, 303; the safety and facility of commercial operations are greatly promoted by a general currency, 304; it is said Washington doubted, 304; objections offered by Mr. Jefferson, 304; remarks of Hamilton, 304; consequences of destroying the bank, 305; distresses which will follow, 305; answer to objections, 305, 306; the prompt and secure collection of our revenue is principally owing to the influence of the bank, 307; other objections examined, 307; objections to the construction of different clauses of the constitution examined, 308; it is said the history of the States will show that the bills of credit specified in the constitution, were those only which were a legal tender in the payment of debts, 309; further debate, 310; vote a tie, 311; remarks of the Vice President, 311; gives the casting vote against striking out the first section, 311.

In the House.--Bill to renew the charter of the Bank of the United States considered, 335; moved to strike out the first section, 335; motion intended to test the principle of the bill, 335; Congress possesses no power to incorporate a bank, 335; even if possessed, it is inexpedient to exercise it, 335; ruin to the merchants and embarrassment to the government would not be paramount to sustaining the several obligations of supporting the constitution, 335; reason of the construction given by various persons, 335; this is in its nature obnoxious alarming in its tendency, and its influence irresistible, 335; parts of the constitution which bear any analogy to this subject stated, 336; does the establishment of a bank come within their meaning? 336; it must be shown that the bank is necessary to the operations of the government, that without its aid our fiscal concerns cannot be managed, 337; two things necessary to insure the stability of the government--avoid every measure that will produce uneasiness among the states or that will extend the jurisdiction of the government to subjects purely local, 337; has not the bank produced serious alarm? 337; the abuse of the convenience of obtaining loans is more dreaded than any other evil which will follow this measure, 338; this is the most important subject upon which this Congress will be required to act, 338; connection subsisting between the agricultural and commercial interests, 339; enlightened legislators have entertained but one opinion on this subject both in this country and Europe, 339; utility of bonds cannot be doubted, 339; prosperity of the country attributed to this active capital which has excited industry, 340; accommodations furnished by the bank, 340; principal portion of the trade and business of the Union has been conducted on a paper medium, 340; put down this bank and how are your revenues to be collected, 340; this is not the time or place to inquire whether banks are beneficial or not to the nation, 341; the section admitting of an increase of the capital stock a very dangerous feature, 341; the Articles of Confederation and the present constitution do not differ as regards any power delegated by the states to Congress, 342; interpretation of the constitution, 342; experience shows that the decisions of Congress vary with the men who compose that body, and cannot be cited as settling a principle, 342.

This bill aims a deadly blow at some of the best principles of the constitution, 343; this bill assumes the exercise of legislative powers which belong exclusively to the State Governments, 343; one of the most serious dangers this government is threatened with, is the tendency to produce collisions between State and Federal authorities, 344; the great line of demarcation between the powers of the two is well understood, 344; axioms laid down in discussing constitutional questions, 345; sufficient to call upon the advocates of a bank to show its constitutionality, 345; argument of Hamilton, 345; the federal government is said to be sovereign with regard to all the objects for which that government was instituted, 345; this is a petitio principii, 345; it is said, the bank is an innocent institution, 346; one of its most obvious and distinguished characteristics is that it exempts the private property and persons of the stockholders, 346; it authorizes the stockholders to take usurious interest, 346; this bank incorporation possesses other qualities at war with the laws of the several states, 346; it is contended that the right to incorporate a bank is delegated to Congress, and five or six different provisions of the constitution are referred to as giving this right, 347; the very circumstance of so many different heads of authority is conclusive evidence that it has no very direct relation to any of them, 347; the "sweeping clause," 347; Hamilton's mode of reasoning, 347; it is contended that the right to incorporate a bank is included in the power to lay and collect taxes, 347; no man ought to complain of the weakness of a government whose powers may be reasoned up by logic like this, 347; the constitution is not a mere designation of ends for which the government was established, leaving to Congress a discretion as to the means, 348; it is contended that the right to incorporate a bank is implied in the power to regulate trade between the states, 348; it is said to be included in the power to borrow money, 348; absurdities into which this doctrine of implication leads, 349; it is said to be necessary to the regular and successful administration of the finances, 349; one or more state banks in almost every state, 349; it is said, if the bank would be constitutional without the existence of the state banks, it would be equally so with, 349; question to strike out the first section carried, 350; note, 350; passage of the bill in the House, 350; note, 351. See Index, vols. 1, 2, 3.

Bankrupt Act.--See Index, vol. 2.

BARD, DAVID, Representative from Pennsylvania, 36, 124, 187, 315, 424, 577. See Index, vols. 2, 3.

BARKER, JOSEPH, Representative from Massachusetts, 36.

BARRY, WILLIAM T., Representative from Kentucky, 316; on the admission of the Territory of Orleans as a State, 320.

BARTLETT, JOSIAH, Representative from New Hampshire, 424.

BASSETT, BURWELL, Representative from Virginia, 36, 125, 187, 315, 424, 577; on the number of seamen in the naval service, 228; urges reform in the expense of the navy, 231; on reduction in the navy, 239, 244; on the claim of Matthew Lyon, 426; on encouragement of privateers, 581; on prize money to the officers and crew of the Constitution, 593; on the imprisonment of American seamen, 594, 595; in favor of a naval establishment, 603; on encouragement to privateer captures, 703; on privateer pensions, 704. See Index, vol. 3.

Batture at New Orleans.--In Senate, memorial of Edward Livingston, presented and referred, 118.

In the House.--Resolution to refer the subject of title to the Attorney General for him to collect testimony, &c., 148; the true course is to give the parties the right of appeal from the Orleans court to Supreme Court of the United States, 148; important law points involved, 148; the batture claimed is in the bed of the river, 148; what could the Attorney General do in the case? 148; what influence was his opinion to have? 148; impossible to see how an individual having property, in which he was put in possession in 1804, by a judicial decision, could be dispossessed of it in 1807, 148; this batture never was claimed as private property until after it came into possession of the United States, 149; nothing new to refer a subject to the head of a department, 149; a constitutional difficulty in the case, 149; has Congress the power to decide the validity of this claim? 149; has Congress a right in order to determine the title to landed property, to refer it to any tribunal whatever? 149; admitting all this to be true, it does not apply to the present case, 149; the question is whether it is public property or not, 149; question examined on the ground of the right of the citizen, 150; if a citizen is put in possession of property by a decree of a court, and afterwards dispossessed by military power, where should he come if not to this House to claim redress? 150; this claim should never be confounded with the Yazoo claim, 150; the doctrine nullum tempus occurrit reipublicæ, is a dangerous one, 150; the present case stated, 151; is there a precedent for this transaction? 151; the President has not carried the law into effect, 151; the act of 1807 contains two clauses bearing on the subject, 152; if there has been any violation of right, it was in the passage of the law under which the President acted, 152; resolutions offered in the House, 191; laid on the table, 192; bill to provide means to ascertain the title considered, 223; various amendments considered, 223.

BAYARD, JAMES A., Senator from Delaware, 26, 121, 176, 264, 403, 571; reports to Senate a bill for a National Bank, 183; moves an amendment to the bill to enable the President to take possession of the country east of the Perdido, 313; against the declaration of war, 418. See Index, vols. 2, 3.

BAYLIES, WILLIAM, Representative from Massachusetts, 124.

BIBB, GEORGE M., Senator from Kentucky, 400, 570.

BIBB, WILLIAM W., Representative from Georgia, 36, 125, 188, 315, 425, 577; on the ordinance of 1787, 42; on the ordinance of 1787, 46; on the bill relative to batture at New Orleans, 223; on the admission of the territory of Orleans as a State, 320, 324; on Indian affairs, 428; on the British intrigues, 516, 519; against the renewal of Whitney's patent right, 533; on war taxes, 715. See Index, vol. 3.

BIDWELL, BARNABAS, 437; note, 437. See Index, vol. 3.

BIGELOW, ABIJAH, Representative from Massachusetts, 317, 424, 577; against the admission of Mississippi, 352; on commercial intercourse with France and Great Britain, 386; on imposing additional duties, 538.

Bill to prevent abuse of privileges enjoyed by foreign ministers, 169.

BLACKLEDGE, WILLIAM, Representative from North Carolina, 36, 425, 577. See Index, vol. 3.

BLAISDELL, DANIEL, Representative from New Hampshire, 124, 187, 316; against the admission of Mississippi, 352; on commercial intercourse with France and Great Britain, 377.

BLAKE, JOHN, jr., Representative from New York, 36. See Index, vol. 3.

Blank ballots, shall they be counted?--In the House on election for Speaker two blank ballots were cast, shall they be counted? 125; blank pieces of paper cannot be considered as votes, 125; instance, the election for President in 1801, 125; is there to be a Speaker without an election? 125; the committee report that no candidate has a majority, 125; the Speaker may become President and preside over the destinies of the nation, 125; no analogy with the Presidential election, 125; establish such a precedent, and it may put an end to this government, founded on the principle that the majority shall govern, 125; motion for a new ballot carried, 125.

BLEECKER, HARMANUS, Representative from New York, 424, 577; on imposing additional duties, 540; against the embargo bill, 550; on the objects of the war, 644.

BLOUNT, THOMAS, Representative from North Carolina, 36, 425; on a quartermaster's department, 477. See Index, vols. 1, 2, 3.

BOONE, DANIEL, petition of, 707.

BOYD, ADAM, Representative from New Jersey, 36, 124, 187, 315, 424, 577; on the batture at New Orleans, 149; supports petition of Elizabeth Hamilton, 215; on the reduction of the navy, 242; on foreign relations, 460; on the bill laying an embargo, 544, 545; on an additional military force, 626. See Index, vol. 3.