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r PRESIDENT'S VETO, NO. 2. To the House of Representatives of the I United States: II is with extreme regret that I feel rayself constrained, "by the duty faithfully /to execute the office of President of .the -United States, and to the best of my ability "to preserve, protect, and defend the Constitution of the United .Stales," to return to-the House, in which it originated, the bill to provide for the better collection, safe 'keeping, and disbursement of the public revenue, by means of a corporation to be styled the Fiscal Corporation of the'United States," with my written objections. /~'\ j In my message sent to the Senate on the 16th day of August last, returning the bill "to incorporate the subscribers to the Fiscal Bank of the United Slates," I distinctly declared that my own opinion hod been uniformly proclaimed to be against the exercise "of ilie power of Congress to create a National Bank to operate per se over the Union;" and, entertaining that opinion, mv main obj-ctiou to that t>ilI was bused upon the highest moral and religious obligations of conscience and the Constitution. I readily admit, that whilst the qualified veto with which the Chief Magistrate is invested should be regarded, a nil was intended by-.-the wise men who made it a part of the Constitution, as a good conservative principle of our system, without the exercise of which, on important n.-cflsions. :i n?cre renresenlative ma jority urge the Government in its legislation bey ?nd the limits fixed by iis framers, or might exert its first powers too hastily or oppressively; yet it is a power which ought to foe most cautiously exerted, and ' :perhaps never, ex"ept in a case eminently involving the public interest, or one in which the oath of the President, acting under his convictions both mental and moral, imperiously requires its exercise.. In such a case he has no alternative. .$le muel either exert the negative power entrusted to hint by the Constitution chiefij for its own preservation, protection, and defence, or commit an act of gross moral turpitude. Mere regard to the will of a majority must not, in a constitutional republic like ours, control this sacred and solemn uuly of a sworn officer, The Constitution itself 1 regard and cheriah as the embodied and written will of the whole people or the'.Uni'eul States. It is their fixed and -fundamental law, which they unanimously prescribe to the public functionaries?their mere trustees and servants* This, their will, and the law. which they have given us as the rule of our action, has no guard, no guaranty of preservation, protection, ar.d defence, but the oaths which-it prescribes to the public officers, the sanctity with which they shall religiously observe those oaths, ami the patri-1 otism with which the people shall shield it by their own sovereign will, which has made the'Constitution supreme. Itraost be exerted against the-will of a mere representative majority, or not at all. -It is alone in pursuance of that will that any measure can reach the President; and to say that because a.majority in-Congress have passed a bill-the. President should sanction it, is to abrogate the power altogether, and to render its insertion in the Constitution a work of absolute supererogation. The duty is to guard the fundamental will of the people themselves from (in this case I admit.unintentional) change or infraction by a<majority in Congress. And in that light alone dol regard <he constitutional duty wliich?i now most reluctantly discharge. Is this bill r.ow ' presented, for my ap 1 __ .1: 1 t. _ u:n 1 1? jiruvui hi ui9d|i|rruvmt j?utn a uiu ag a iiutc j already declared could not receive my sanction? Is it such a bill as calls for the exercise of the negative power under the Constitution? Dues it violate the Constitution by creating a National Bank to operate per se over the Union? Its title in the first place, describes its general character. It is "an act to provide for the better collection, safe keeping and disbursement of the public revenue, by means of a corporalion to be styled the Fiscal Corporation of the United States.1' In style, then, it-is plainly national in its character. Its powers, ftmctioiw-an'd'duties are thosp which j pertain to the collecting keeping (end dis i bursing the pOttf-ic revenue. The means by which'these are to be exerted is a cor-! (poration,'toH>e styled the Fiscal corpora-' lion ?.r the United States. It is a corpora-' ..a.iail Kir tKu O.in..? C ?... 11 I i ?i vf 11 LI tmvw \mj ** vwi^icaa in v ir uiiuru States, in its character ??f" a National Legislature of the whole Union, to perform the fiscal purposes, meet the fiscal wants and exigencies, supply the fiscal uses and and exert the fiscal agencies of the Treasury of the Uuited States. Such is its own description of itself. Do j,ts provisions contradict its title? They do not. It is (true, that by its first section,it provides that it shall be established in the District ol Columbia; but the amount of capital?fhe manner in which the stock is to be subscribed for and hold?the persons and b<?> dies, corporate and politic, by whom its stock may be held?the appointment of its directors, and their powers and duties? its fundamental articles, especially that to establish agencies in any part of the Uujon ?the corporate powers and business of jsuch agencies?the prohibition ofCopgress V ... V ?... j. jk >;' : ' ?% ; v ^'V - OSk*. - -JjL J...v.. Ojs iSl-i .4 I'll to establish any other corporation with similar powers for twenty years, with express reservation in the same clause, to modify or create any bank for the District of Columbia, so that the aggregate capital shall not exceed five millions, without enumerating other features which are equally distinctive and characteristic, clearly show that it cannot be regarded as other than a Bank of the United States, with powers seemingly more limited than have heretofore been granted to such an institution. It operates per $c over the Union, by virtue of the unaided, and to my vipw, assumed authority of Congress as a National Legislature, as the local Legislature iff the District. Every U. States Bank heretofore created, has had power to deal in bills of exchange as well as local discount*. Both were trading privileges conferred, and both were exercised, by virtue of the aforesaid power of Congress, over the whole -Union. The question of power remains unchanged, without reference to the extent of privilege granted.? If this proposed Corporation is to be rewarded as a local bank of i(ie District of Columbia, exist by Congress, with general power to operate over the Unipp, it is obnoxious to still stronger objections. JEl assumes dial Congress may invest a local instituliou with general or local powers. Willi the same propriety that it may do this with regard to a hank of the District of Columbia, it may to a Slats bank. Yet who can indulge the idea that this G.?rernment can rightfully, by making a Slate hank its fiscal agent, invest it with the ah solute ami unqualified powers conferred by .tlds bill? Whenil coioe to look at the details of this bill, they doinot reconipaepd ,it stror.gly to ?ny adoption. A bried" notice of some of its provisions will suffice. First. It mayjustify substantially a system of discounts of the most objectionable character. It is to deal in bills of exchange drawn in one State and payable in another, without any restraint. The bill of exchange may have an unlimited time to run, and its renewability is no where guarded against. It may, in fact, assume the most objectionable form of accommodation paper. It is not required to rest on any actual, real., 4*r substantial exchange basis; a drawe/ ,in one place becomes the acceptor in another, and so, in turn, the acceptor may become the drawer, upon a mutual.unde,r.standiiig.? It may, at -the same Jirpe, indulge ip inere local discounts under rhe name of the bills of exchange. A bill drawn at Philadelphia on Camden, New Jersey; at New j York on a border town in New Jersey: at | Cincinnati on Newport, in Kentucky; not ito multiply other examples, might, for 1 "..vil.Inrr in thi<! hill to restrain it. become I & ' a mpre matter of local accommodation.? Cities thus relatively situated would possess advantages over cities otherwise situated, of so decided a character as most justly to excite dissatisfaction. There -is <no limit prescribed te the premium in the purchase of bills ot exchange; thereby correcting none af the evils .under which the community now labors, and operating most injuriously upon the agricultural States, in which the j irregularities in ?he rates of exchange are I most severely felt. Nor are these the only consequences. A resumption of specie payments by the banks of those States would be. liable to indefinite postponement; fur, as the operations of the agencies in the interior would chiefly consist in selling bills of exchange, and the purchases could only be made in specie,;or the notes of banks paying specip, the State banks would either have to'contiiuie; with their doors closed, or exist at they mercy of this national monopoly of bro1. * ?? Ua. nnssail dtrai* ttril ivciagr, iiur tail u uc jiasotu w?ui - inwn nut remark, that whilst the District of Columbia is made the seat of the principal bank, its citizens are excluded from all participation in any benefit it might, afford by-a -possitive ,prohibition on the bank from all discounting within theDis-, trict. -These are some of the objections which prominently -exist against the "details ,.f the bill; others might he -urged, of much force, but it would be unprofitable to dwell upon them; suffice it to add, that this charter is designed to continue for twenty years, without a competitor; that the defects to which I have alluded, being founded on the fundamental law of the corporation, are irrevocable; and that if the objections he well-founded, it would be over lutzaxdous to .p&ss the bill into a law. In conclusion, 1 take leave most respectfully to say, that 1 have felt the most anxious solicitude to meet the wishes of Congress in the adoption of a Fiscal Agent? which, avoiding all constitutional objections, sh ?uld harmonize conflicting opinions. Actuated by this .feeling, 1 have been ready to yield much,'in a spirit Of conciliation, to me opinions <>i omers; nnn it is with great pain that I now feel compelled to differ fr -m Congress a second lime in the same session. At the compieiicement of this session, inclined from choice to differ to the Legislative will. 1 submitted to Congress the propriety of adopting a Fiscal Agent which, without violating the Constitution, would sepe rate the public money from the Executive con rol, and perform the operations of tlie Treasury, without being burdensome to he People or inconvenient or expensive to the Government. It is deeply to be regretted that this department of the Government cannot, upon constitutional and other grounds, concur with the Legislative Department in this last measure proposed to attain these desirable objects Owing to the brief space between the period of the death of my lamented predecessor V.S> ' :. . -%?? ;? . '..w \ >, " % # J*..;** ':M. C - and my own installation into ofHce, I was in fact, not left time to prepare and submit | a definitive recommendation of my ownir J my regular message; and, since, my mint i has been wholly occupied in a most anx ious attempt to conform my action to tht Legislative will. In this communication I am confined, by the Constitution, to mj objections simply to this bill, but the pe riotl of the regular session will soon arrive when it will be rny duty, under anothe clause of the Constitution, "to give to Con gressinformation of the state of the Union and rcccommend to their consideratioi such measures as I shall judge necessary and expedient." And I must respectfully submit, in a spirit of harmony, whethc the present differences of opinion shouh be pressed further at this time, and wheth er the peculiarity of my situation docs no entitle me to a postponement of this sub ject to a more auspicious period for dclier ation. The two houses of Congress have dis tinguished themselves at tbjs extraordina ry session by the performance of ai immense mass of labor, at a season ver; unfyvorab'e both to health and action, am lia-ve passed many laws which I trust wil prove highly beneficial to the interest u the country, and fully answer its just ex pectations. It ha9 been my good fortune and pleasure to concur with thern in al measures, except this: and why shouh our difference on this alone be pushed t< extremes? It is my anxious desire that i should not be. I, too have been burdenei with extraordinary labors of late, and I sincerely desire time dor deep .and deliber ate reflection op this, ihe^reaiost difficul ty of my administration. May we no now pause until a more favorable lime when, with tbe most anxious hope that th< Executive and Congress may cordinllj unite, some meusure of finance may be de liberately adopted, promotive of the goo< of our common country. I will take this occasion to declare, that the conclusions to which I hav< brought myself are those of a settled eon vietion, founded., in my opinion, .on i just view of the Constitution; that, in ar riving al it, J pave oeevn actuates oy nt * other motive or desire than to upbo.h.l lb? institutions of the country as they comi down to us from the handsof our god-like ancestors; and thatl shall esteem my e.f forts to sustain them, eveH .though I per ish, more honorable than tj win tfie ap plause.of men by a sacrifice of my duty and my conscience. JOHN TYLER. . Washington, September 9, 1841. Henry Clay has presented in the Senate and lauded and had printed certain resolutions falsely purporting to come from s meeing in Virginia, while the same Henry and this Charley \V. C. Preston refuse to print the numerous undoubted expressions of public opinion coming from rea meetings of the people of Virginia. If no guilty of .forgery, is not Clav guilty of passing this counterfeit, knowing it to bt such. Such is whiggery, as exemplified by the extra Session, during all which, truth has'been.gagged and a political lit maintained?to cnable a Bank to i?ue lies as the currency of the country. Yet the old rogue talks of pirates." Char. Mercury. n?trtvn nr i V El VY I IXLT versus VLAI. The pretence of Mr. Clay that the issue of Bank or no Bank was made and deciilet in the Presidential canvass, has beer shewn to be false, by the speech of Mr Badger of the Cabinet, circulated by the Whig Convention of North Carolina?bj the Address of the Whig Convention o| Virginia. We now have the letter of Mr, Ewing of the Cabinet 'to the same effect which, says the Richmond Enquirer\ shews: ' That though the issue of Bank or nc Bank was tendered to the Whigs, they di? rectly declined it. Some of them not only evaded it, for fear of losing votes, bul others, in the front ranks of the Whigs, denied that it was the issue at all. If Mr. Tyler, therefore, throws himself back upon his ancient principles, they have nc right to complain. He.is no traitor. He has'betrayed 110 trust. The Whigs made no such issue T??r him?and he is no) bound bv any such: To the Editor. "MARIETTA, Aug. 22. 1841 "I have sent you a Whig paper of this place, containing a letter written by 1. Cwing, the precent-Secretary-of the Treasury, during the campaign of last year.? You will make such use of it as to yon may seem proper. This letter was called out by charges against Mr. Ewiug, relative to the issue, Hank or no Bank. We who<took the stump here, as elsewhere in Ohio, sought to hold the then Opposition party to their text, but a want of candor and political integrity induced a reckless and fraudulenf evasion of this important question. And now, when the power is gained, and the people wronged out ol their suffrage, this question occupies the foreground of the Whig policy?a measure, that again boldly threatens the dissolution and overthrow of the Federal party, while all others become of ''minor importance'" Mr.Ewing was first to present a plan ol this Institution?first to make it a prominent and leading measure of the Administration. And Mr. Tyler is to be denounced, because it is claimed that he has taken a stand in open defiance of the will of the people, expressed in his behalf. Such were the professions of Mr. Ewing, and the Federal party, lo- bamboozle the people?such their 'aim and policy to forward the work of innovation *nd consolidation. The letter, coming ;'.V ; f?om the source it does, corresponding t with every act of Federal treachery, to i obtain a triumph over the avowed, uncomI promising, and constitutional principles of the Eemocracy of the .country, ir may ; be well enough to place alongside of the , professions and practice of Mr. Ewing ber fore the people, and see whether he, with his Federal cotemporaries, have been as , expert gamblers with the.people's suffrage r as in Bank stocks, land scripts, and other - splendid schemes of personal aggrandize, meot. The public will judge whether the i legerdemain of Whiggery has not already 1 proved too far for the merciless scourge r of the people's rights. r (From the Marrietta Intelligencer, July 13, 1840.) i Good coteirtporary authority. j I * l__ 1D.L I O.IA I-.ANCASTKR, JUjy 1CUU, IQIU. I My Dear Sir:?On my-return from Co iutnbiis this evening, I rfceeivrd your let ter informing me thai it was asserted at a public meeting in Washington county - that in a speech at Philadelfhia, I had said - the true question betweenihe parties, was a a Bank of the United States, and that you y from a knowledge of the real question [I) and ot me had contradicted the assertion. 1! In this, of course, yo^i were perfectly safe, f I made no such statement, bpt the very - contrary. I avowed ihat'the true question c was and is the restriction or extension of I Executive power:?that its encrachments I 'open and covert were of the most alarmi> I ing nature, and if not resisted must end in II the subversion of all that is valued in the I' Republican principle of our Government; i ! i -l ?i... ;r 1 | ami mai u geurgewua muuuiii?j >? cubt?f u not in name, must arise out of its ruins.? - I said that our opponents were attempting1 t to make the question of a Bank the issue , between the parties. I spoke of the impu2 d nee and absurdity of the attempt. Thai i a Bank was not and never had been con sidered by us any thing more than a mere 1 matter ol convenience?a useful article of furniture in our noble edifice. That our , opponents were gravely raising and deba* i ling the question whether this article of - furniture was convenient or necessary? i whether wc should have a table or a settee - standing in our halls?while their sappers > and miners were at work tumbling its walls ; and columns about our ears. This with amplification and illustration is the subi stance of whatl said touching that particu* lar subject. You perceive therefore that you did not mistake my opinions or my - language. * ' Ycur sincere friend, T EWING. L. D. Barker, Esq. Daoon is fallen.?The Bank of the Uni! ted States has breathed its last. The mon ey article of the Philadelphia Ledger ihus i i nnltf>?,? the. prent: '! There was some little excitement crea1 ' ted to day, after the rising of tfie board of brokers, in consequence of the announce* I mentoflhe fact that the Bank of the U.iit ted States had made an assignment of all T its effects, real, personal and mixed, in ' trust, for the benefit of all its creditors; to I .James Robertson, the acting President, i Mr. Taylor, the assistant cashier, James 5 S. NexvboM, Herman Cope, and Jaines A 1 Bayard, of Delaware. This result, so im' mediately after the departure of Mr. Jaudon for Europe, on thieve of which the stock of the Bank rose up from 83*4 to 13 1-4 per cent., seems extraordinary. The consequence was the fall of the slock to s 8850 per share, and an increase of the 1! rate of discount upon the notes to 30, and i j in some instances to 35 per cent. The object of the assignment, it ie understood. i was to be rid of the repeated annoyance r of suits which were daily increasing. The " action, commenced by our city authorities . for 850, 000. part of which belonged to , the Girard Trust, we have heard intima? ted was the immediate cause of the final giving up. It is now taken for granted thn* > the hope of ever resuscitating the Bank : is relinquished, aud that the assignees will proceed as rapidly as possible in the mat. I icr of liquidation. 1 - - ? Several Nmhern Federal prints threaten ; if Everett is rejected, to dissolve the Uni> on. They know belter. The)* are too : much attached to the common defence and ; general welfare. Without the South their l whole political machinery would be without steam or oil, and "must stop working. Without the South, the North would be Anti distribuiion, Anti-Bank. Anti-Tariff. i Threaten to seperate from the South for, soollil We have seen a pouting chilb, for a time refuse to.eat, but who ever heard i of an old pensioner striking his name from ] i the pension list in revenge??Mercury, \ An anecdote is related of Zeuxis, the famous painter, which is worthy of repetition. He entered into a dispute with Parrhasius, for the prize in painting. Zeuxis ' had painted some gropes so very natural- ' ly, that the birds would come and peck at 1 thrm. Parrhasius painted a curtain so art- ' fully that Zeuxis, mistaking it for a real 1 curtain which hid his rival's works, order- ( pd it to be drawn aside that he might see 1 I ihp nnintina. On finding his mistake, he * | confessed himself vanquished, since he had only imposed upon birds while Parrhasius 1 has misled even an artist. On another oc- I casion, he painted a hoy loaded with grapes, when the birds again flew at his ' picture, which vexed him; for he said that ' if he had painted the boy as perfectly as J he had the grapes, the birds would have been afraid of him. ' , -v. 1 DC/3Notice is given that an application 1 will lie made by th? Vestry and Wardens of Si : Mask's Cucrch, Cltrendon, 10 the Legislature ui its next sitting, for an act of incorporation. August 11, 1841. 3m **, ' *? TH3 0AMDE1T JOraKAi,' >' OAMDEN, S. OABOX.XKA. WEDNESDAY MORNING, SEPT. 15. 1841. 1 ? . - T -i4-. D* The proceedings of the Walereo Agricultural. Society, at their last meeting, wa&hsnded in too lata for insertion today. They sffifflTappear in our'^?^"' next. : , O" Saturday, the ninth of October is Return Day for this District. . . VETO NUMBER TWO. At the usual hour of-putting our paper to press, ^ wo wore put in possession of this highly Important ; and welcome document, and hasten to lay it before our readers. We have therefore, neither space nor time,-Tpr comment upon the reasoning of litis vain able state paper. It will be seen, however, that the main ((round taken by the President, is -its unconstitutionality. This is the true ground upon which to meet this qaestion. No cempromise can i avoid'this difficulty. 1 i . The House of Representatives has again been disgraced by one of those breirls which would ruin . the character of a common grog shop. Mr. Wise f.,-. and Mr. Stanley' quarrelled' and {fought upon tho,^ .V floor on Thursday last, and a~ general riot and fight*",;among the members immediately ensued. BfEasis. , Wise and Stanley, and Messrs. Butler of Ky. and Arnold of Tennessee, were the principal actors W in this mortifying and disgraceful scene. We are . s Vj .. not now in possession of tho particulars of-this at . fair, but will endeavor to give them to our readers next week. ? . Jacob F. Mlvtzino Esq. has been re-elected May-,.:; ^; or of Charleston. TKa SfArtlr Htn Pnnlr aP Via Tlntfiwt 'flfalll. "i" - went down to seven dollars and a half per share, on the announcement of the last assignment, and the ~ _'y" notes were at as great a discount as thirty-five per cent. jj; ? The Fio Crop.?This crop has not tamed oat as : , > . well this year as usual. The fruit is neither so c- abundant, nor so large, as we have been accustom.^- - ;.H ed to see it. We have, however, been favoored with ^ some delicious apecimeat of tlio best which the season has produced. ?t. 'A Bank R ibbrry.?The Danville Bank, Virgmia, .. rT, <i has recently been robbed of a large amount. The money hes, however, been recovered, and one of tfceV?>N'l officers as usual, the Teljer, ancslcd as the robber; Thore is very little doubt, we believe, of his guilt. : ' 1 Tax on Tea and Coffee.?When tho- new'TarifF - ? bill was under discussion in tfie Senate, a" fewdnys since, on a motinn to strike out the duty of twenty per cent on tea and coffco, which had been inserted 3' ' in the bill, and place them among those admitted duty free, the vote stood, ayes 39, itoes 10.T-. V Among tho nays we notice the namoof W. C. Preston. , ?;?:?-L_*. Health op Charleston.?The Chairman of the Board of Health contradicts the' report which ho? been very generally circulated at the North "that . yellow fevor is prevailing in Charleston."' No case of yellow fever has occurred, "nor has tho city ever been known to be more healthy than it ftaabeen- - ' during the jnimmcr." . The Veto Power.?The Whigs are makitrg Vgreat outcry in. relation to tire exercise of thetfMs power. One would suppose that it had scarcely !W ever been resorted to on any former occasion by any preceding President. This mode of arresting either unconstitutional or unwise legislation is however no . ' new thing. Washington, the father of bis country .-**. ? resorted to it twice?Madison four times?Monroe onec?Gen. Jackson five times. And Mr. Tiles; if he discharges his duty to his country, will Le obliged to use it frequently, and which we trust be will have the firmness to do. . : ^ I. Foreign News.?The Steamer Britannia brings. "V*. dales from Liverpool to the 19th August The new Parliament was to assemble on toe aay um B. left. The next steamer will therefore be looked ' for with anxiety, that we may see what is to be the V-* charactor of the new administration and its mea. suras. *' v *'7 r--' The commercial intelligence by this arrival is ra. ther gloomy. Groat fears were entertained in every part of Great Britain that a shortness of the crops would be the consequence of the continued wet arid ' cold weathor. The price of grain was rising and * the distress among the poor becoming unusually severe. The cotton market was excessively dull up to tbo 14th August and prices had declined J-8d per pound. ^ Between the 14th and tbo day the steamdr sailed, * ;? the demand had been somewhat more animated and * the sales larger than those previously reported, and * prices had advanced, so as to recover the decline noticed at the close of the week on the 14th August. 1 .. , '' Correspondence of the Mercury. Washington, Sept. 4, 1841. In Senate this morning, a bill from the House making appropriations of $600;000 or naval stores and ordinance was taken tp, and after some discussion, Mr. Alien ' noved an amendment providing that the noney should be taken from the proceeds >f the Public Lands. The amendment vas lost, and the further .consideration oi^ ; he bill postponed until.Munday. The Tariff bill was then taken up, and VIr. Clay went into his long delayed etr >ose of the condition of the Treasury.? rhe deficit in the Treasury at the close of t__; .i_ _ I ,L_" ne yearoeing me luaerence uciwnu hid current revenue and the current expends *. ure, will be sixteen millions of dollars.? ; The amount of appropriations, including the unexpended balances for the present year will be $30,616,660, and the actual expenditures of the year $28,500,000.? This is about seven millions of dollars more than were expended last year, and is the fulfilment of the promise of re* j trenchment in expenditore. Mr. C&jr -v.. V. - '