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T.u the Richmond IT. mig


rIsrcaE cF THE UNITED STATES


E1EI--EO. 9.


t,.5ecI7se of cur last number, on the
rlLl.c. oF ths Bank, we advcrted 20 an ar
-ugtnr which Il often urged against the
-r1e.urioraItv of such an institution, de-
r.y,d from the refusal Of TIE Convention to
y,ys i, Conarrss he general power TO
Grant letters Cf incorporation for Canals
.1c.-Thjs IL Yu, forth with great gravity
as conclusive objection 10 the power 10
Grant an act af incorporation for any Puf-
nose I II reairitd as a negative prcg
nam, which IA eguivaieut 10 d dIgect and
rosifiya rFahibition what l' eXclaims
these Gentlemen. with an air of apparent
t-snmra. "wiIl you contend for power
which was expressly refused by the Con
venllol


Although 1t is no, precisely according to
the arrangement which we had prescribed
f,r ourselves, Ii may not probably be amiss
fy-us ID examine this argument al once


What then are the proceedings upon
which it is predicaled


uthe Alb Of September, 1877, the sth
section afthe first article OF the Convention,
which contains the grant of powers to Con
DRESS being under consideration, Il was
.aa..d lo add clause TO authorize Con
rr.zs. "ro grant letters. Of inco' Poration for
Claa.7 Sc


Decided ID The negative.


tt-s-Ptnnsy.vana, virginia, Georgia
-G.


Narz NJ Hampshire, Massachusetts
Carat...rut. New jersey, D.irware, Mary
Lr4. Naua Caroiua aud South Carolina
-s-lstc journal Of C6nventation, page
g-5l


MI our humble Judgment tots argument IS
Lv mo- means entitled 20 the weig BIT which Is
u5usIIv aiyca to it. So far from being con
rfssire. IL Is hardly pcsssasire. The prop
csujau was 10 give a distinct substantive
Tawes, power per Sc, as eur friend Mr.
Tyler would express il, a power general IN
It's character, md unrestricted IN rs appica-
ti1n--a power extending 10 matters having
no relation to tie adllrs OF the General
Government and which WoCd almost nee
tssariiv bring It into collision with the mu-
EcipIl aulhort'ics Of the States LII that
mower had been granted then, we might
have seen opt lica,ions TO Congress to lncor-
porste lhe most iuSi -uifcant Canal Com
paHies. Or Turnpike Companies, or even
the manufacturing Companies. or the Pro
prielors Of HoteIs Throwing out Of view
the consolidating tendencies ofsuch a sys.
tenn, j. u not obvious that upon grounds OF
convenience alone. il would have been high
IN ilexptdient to cIothe tie National Leg
islslure with such a power But does Il
follow as necessary. or even probable
Inference. frcm the refusal TO grant such a
sweeping substantive power, that there was
% ten0 power in Congress 70 grant an acI
ci Incorporation for any purpose incidental
% other granted powers When the gene
Iai power 20 pass all laws necessary and
proper " carry The enumerated powers into
t1oct," bad been granted, was not a refer
eace q that clause n very sufficient answer
Io those who urged the grant Of the general
9oWer OF incorporation, on the ground that
acCrpora.ion would be a necessary means
% manage the fiscal affairs ol the Govern
ment} But IS il fair, to deduce an argu-
Meht against the existence OF a limited iHci-
atatat power. from the refusal 10 grant an
@dsmItfd Substantive poweF2 Can any
Two things b. more essentially different in
'aelr nature and character, than such pow
elst Suppose Tor example. that in the Vir-
s'h,a Convention, proposition had been
iAade 70 aulhorlSe The Legislature to gran.
eels otlncorporati9n 10 Faro Banks, bawdy
houses and for any and all purposes what
soeyer, and 1t had been voted down. Would
nave been fair, to infer from such vote
n mention on the part ofthe Convection
Y aeny the power to incorporate Banks or
Noai Companies2 We imagine such a
p-oposlIion would hardly be maintained
~" where i The difference in principle
Tween the two cases2 Ii may be conten-
ssu' mat The refusal TO give such an unlimit-


power, would leave the matter exactly
;aefe II stood before the proposition was
Trsoua continue unimpaired to that extent


A we believe to be the true ground and
iIsl.ning y 70 be such, we deduce the con.
Oh mat the trainers of the Constitu-
e~'.. meant The power of incorporation 10


~ Congress, to the same extent as it