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| lty to pay tt. The ability to pay taxes depe the general wealth of the society and this on neral prosperity of agriculture, manutactur9 commerce. Congress then, may give bount make regulations on all these objects

 The States have, it is allowed on all hands current right to lay and collect taxes. This is secured to them, not by it's being expressly. ed but by its not being ceded by the Const The reasons for the bill cannot be admitted | they would invalidate that right. Why may be cOnceiued by Congress, that an uniform I elusive imposition of taxes would not, less th proposed Bank, "be conduciUe to the successi ducting of the national finances, and tend to gi cility to the obtaining of revenue for the use Government2"

 The doctrine ofimplication is always tendG The danger of it has been felt in other Goyernl The delicacy was felt in the adoption of our the danger may also be felt, if we do not keeI to our chartered authorities.

 Mark the reasoning on which the validity bill depends To borrow money is made the and the accumulation of capitals implied means. The accumulation of capitals is the cad, and Bank implied as the means. The is then the end, and the charter of ncorporati monopoly, capital punishments, Sc. imPied a means.

 If implications, thus remote, and thus mutil can be linked together chain may be formed : will reach every object of legislation, every 0 within the whole compass of political economy.

 The latitude of interpretation required by the is condenced by the rule furnished by the Com ton itself

 Congress have power "to regulate the vau money;' yet it is expressly added, not left to be piied that counterfelts may be punished.

 They have the power "to declare war; v to W armies are more incident, than incorporated Bi to borrowing; yet is expressly added, the power raise and support armles;" and to this, again. the press power "to make rules and regulations for government of armies 7" A like remark is app ble to the powers as to a navy.

 The regulation and calling out of the militia, more appurtenant to war than the proposed Ban borrowing yet the former is not left to construct

 It is not pretended that every insertion omis in the Constitution is the effect of systematic at tion This is not the character of any human w particularly the work of body of men. The amples cited, with others that might be added, ST ciently inculcate, nevertheless, rule of nterpr' taton very different from that which the bill re They condemn the exercise of any power, part larly great and important power winch IS not ( denty and necessarily involved in an express pow

 It cannot be denied that the power proposed to exercised is an important power. l As charter, or incorporation, the bill creates artificial person, previously not existing in law. confers important civil rights and attributes, whi could not otherwise be claimed. It is, though l precisely similar at least equivalent, to the natur lZdtlOU Ol all dllen, Dy WHICH Cerldln new CIVIL cf racters are acquired by him. Would Congress ha had the power to naturalize, if it had not been plessly givenl

 In the power to make bylaws, the bill delegated sort of legislative power, which is, unquestonab an act of a high and important nature. He took T tce of the only restraint on the bylaws, that tn were not to te contrary to the law and the consti tion of the Bank; and asked what law was intende 1.-the law of the United States, the scantness oft code would give power never before given to a c | poraton-and obnoxious to the States, whose la would then be suspended, not only by the laws Congress, but by the bla,os of corporation, witt their own jurisdiction. If the law intended was law of the State, then the States might make la that would destroy an institution of the U State.

 The bill gives power to purchase and hold lan' Congress themselves could not purchase lands wi in State, 'without the consent of its Legslatur. How could they delegate power to others, whl they did not possess themselves It takes from successors, who have equal rights with ourselv and with the aid of experience, will be more capa of deciding the subject, opportunity fexert ing that right for an immoderate term. It takes from our constituents the opportunity deliberating on the untried measure, although tn hands also to be tried by it for the same term

 It involves c monopoly, which affects the eq rights ofevery citizen.

 It leads to penal regulation, perhaps capital p ishments, one of the most solemn acts of sovere authority.

 From this view of the power of incorporation crcised in the bill, it could never be deemed an cessory or subaltem power to be deduced by plication as means of executing another power was in its nature, distinct, an independent 6 substantive prerogative, which, not being enumera in the Constitution, could never have been meant be included in it; and, not being included, could yer be rightfully exercised.

 He here adverted to a distinction, which he S had not been sufficiently kept in view, between power necessary and proper for the government Union, and power necessary and proper for exc ting the enumerated powers. In the latter case, powers included in each of the enumerated powt were not expressed, but to be drawn from the nat of each. In the former, the powers composing government were expressly enumerated This c stituted the peculiar nature of the government. power, therefore, not enumerated, could be infer from the general nature of government. Had power of making treaties, for example, been omit however necessary it might have been, the def could only have been lamented, or supplied by amendment of the Constitution.

 But the proposed Bank could not even be cal necessary to the government at most it could be convenient. Its uses to the government could suppliedby keeping the taxes little in advance loans from individuals-by the other Banks, o' which the government would have equal commal nay, greater, as it may grant or refuse to these privilege, made free and lrrevocaDle glit 10 proposed Bank of using their notes in the Fede revenue.

 He proceeded next to the contemporary expo tions given to the Constitution

 The defence against the charge founded on want of Bill of Rights, presupposed, he said, t the powers not given were retained, and that thu given were not to be extended by remote impli tions. On any other snpposition the power of C. gress to abrdge the freedom of the press, or rghfa of conscience Rrc could mt have bpen proved.

 The explanations of the State Conventions, turned on the same fundamental principles, and the principle that the terms necessary and pro gave no additional powers to those enumerated Here he read sundry passages from the debates the Pennsylvania, Virginia and North Carolina C. ventions, showing the grounds on which the Con tuition had been vindcated by it's principal advocat against dangerous latitude of its powers, chars nn it hy its onnonents l He did mi undertake