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feaes the Bsnk Qfie United aa,es ,sdica reso rsss

 a fhe House efRe9rssrapes qr ths nitrd Saes, reg,

 VI.

 As fT as can be collected from the diffuse and somewhat unmethedizcd argument ofthc Report, cn this point, we collectthe following objects, rendering the, Bank Charter, as it is sad, ncteSsdry and hroher

 lst.' To facilitate the collection of the pub lie revenue, and to transmit the same, from place to place.

 2d. To regulate the ''currencv" eff the coun- try, and to equalize the value of monev, and as incident to th;s incident, to promote the objects of Commerce.

 Sd. To enable the Government to borrow money.

 These are all the objects expected from the Bank, and are affirmed to be erhedient, not, it must be recollccted, for what Congress may be | pleased to consider as general, wholesome re- gulatons, but to carry into effect certain well defined powers ofthe Constitution. We must be very careful to draw the proper distinc- tion between the reasoning, upcn which it would be expedientto found Il law, and that winch seeks to ind the proper construction of the law, after it is established. We must take the rule as U is, and net as ought 70 bc. l We are net now making constitution, we arc. expanding enc, and much of the reasoning of the Report, proceeds upon grounds and facts, that have transpred long since the in- strnment was sent forth to the world, and con- sequently could net have entered into the views of the Convention when deliberating upon the eXpediency of this meas.re, unless they were prophets, and this will hardly be claimed for them, any where out Of the pious land of New-England It may not be amiss, to give few of the assumhtioa8 of the Com | mi tp this power to Congress. On the score of ex- pediency, fer instance, they say the Govern ment lost forty-six millions of dollars during the late war with Great Britain, just quarter ct century after the adoption of the Consti- tuition, "whch would ia aH hroba6iiitv have been saved, if there had been Bank '' And again, much reliance is placed upon the er- | herience of that war, as well as the cor1uhfio7 of State Legislatures in their partiality for 1 State Banks, all of which would do well for the creation of new Constitution, but which certainly constituted no part of the reasons for any feature of the old. With this caution let us proceed

 All details must refer to general principles. We reason from generals to particulars, and it is always we'll to point to the former, before we can be well satisfied as to the correctness of the latter. It is good genera. principle,

 

 ways, under precisely similar circumstances. All reasoning is fallacious that has any of it's parts dependant upon unsupported asser- tion, for if any part be defective, exactly from that point all the after reasoning must be un- certain, and therefore unsound.

 That the States can no more do without | money for their support, than ttt General Government, and the latter ought to be en- tirely dependant upon the prosperity of the former, for it's own well being. Any measure that counteracts this principle, must be wrong, for it cannot be presumed that the Creator left himself in a worse condition than the crea- lure, who was expressly brought into being for the good of the first.

 That there was point of time when this Union did not exist, and at that particular mos megt, they were as free and Independent of each other, as the States of Europe are A. mong all the rights of sclf-governmcnt which they were at liberty to manage and controul. they certainly had the power to impose what regulations they pleased, in relation to their own finances, and the monied concerns of their community. No Government can do with | cut taxes: they vltally enter into the support of all civil rule. And it cannot be denied, if the preservation of life, liberty, reputation and property, be the end and object of all Co., vernments, the States have much more to do than the General Government, which pcally was formed for no other purpose than to aid in these great municipal objects. No man is so foolish as to impose two Governments upon himself, if ore will dc. The first Govern ment, all will admit, is the nearest to his inte- rest, and of course, should be the dearest to his heart. lnconfcIrIng power then upon the second, he will not give away from the first, what is essentially necessary to effect the great Efitsfl tfi ifr T.. under their wholesome laws, commence all the operations that set beth Governments in m,tion. Step them and all stop. Agricul- ture commences there, Commerce commep- ces there, Manufactures commence there. and these are the great springs from which flow all the intercourse and dependencies of men, and the great urgency oflaws competent to protect the infinite and varied relations. thence resulting. Money, as has been shewn. being the great measure by which every thing

 is valued, must be essential to these expanded interests, and the very sGul of Government 1 for their protection. But these interests ar,. not alike in the different States; they vary ac- cording to various circumstances, and hence the great diversity of municipal regulations Tn the several States. In ccnferring powers then upon the second Government, (and the General Government ought always to be con sidered secondary) the States said, and said no more, take the regulation of .scoinng mo- ney, and regulating svalue," because, as the ''sign of value, :" and made of the precious me tals, it ''can easily be reduced to the same standard in aH nations, and consequently amongst us. But as to the business growing cut of mutual intercourses at home, and de- pending upon hater credit, such as bills of exchange, promlssory notes, and the like, we Can no more do without them, than we can do without money; and, as it's representative, they are peculiarly requisite to our local and particular situation, and the confidence result