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uiate ialiS almost infinitely short of power to
create and this is deemed to be tantamount to
.he oiherence between the power Z" to regulate
commerce and the power to create bank the
man point in Mr.. Webster's argument, being that
.ne regulation OF commerce involved the necessi-
~ oi supplying it with means, md that the cre-
a''oh VI oank was hesonly source from which
.hose means could be derived. In this connexion
NJ. ny oe interesting to remark, that the same
cot, mas since that time, pronounced the
| cs"imeht 80 OF National Bank to be an obsoi
! fele aaed. One other ground will no,;ce mon
"n'cr' win something of pausbity, at least. if
n uo' VI SOUND reason, the advocates of National
i'anh nave taken 4 stand. 1, s the last clouse Of
.no ON section, of the lst Article of the Cons,i
ao' Ia" sVih9 10 Congress the power "To mako all
~mch snail be necessary and proper for car
o,haE ,m.o execution the foregoing powers. and all
o."or powers vested by this Constitution in the
Government OF the United States. or in any de,
Par'hent or oihcer thereof" Reliance upon this
GROUND Is not Of recent origin. 1t was, substanti.
".ly' me ground upon which WASHINGTON after
nine days hesitation, reluctantly signed the Bank
OH OF l|9l; and, also, that upon which MADISON.
ai'ef once Vetolng it, signed the Bank bill of 1876
III ooh instances 1t constituted the ground of ne
'eSS"y--hecesIty which. rising paramount to all
othef considerations, controlled the action of the
government, for the procurement of the only
MEANS then attainablo, of carrying on the gov
efhment, and paying debts which could not be de-
| iavea. Inc history Of those times clearly esab-
hshes me truth of these positions. Admitting.
theh, the full force Of the argument which may
lesltimalely be drawn from those facts. nd it in
e''aoiy results that the power to charter n Ma
''ohai bank is not Constitutional power, but is
paramount 10 the Constitution; and can be eXer
c'Seu only derpressure of inexorable necessity;
just as starvation will Justify an individual in ap


ProPrlatlnS any food within his reach, to the pur


PoSe vi saving his life. Power of this character,
anu mus derived, can only be properly exercised
unue' Ihe circumstances which give it birth, and.
necessarily, ceases with those circumstances
however necessary and proper, then, the exercise
oi .'ls power in 1871, and in 1916, no one will
pretend that any Such necessity or propriety ex-
ISIS at the present day. Consequently. all the
support which the advocates of this power nigh,
defiVe, from these precedents Of extreme legisa-
lion, Tails them, with the failure of the circum
stances which gave them origin. But, apart from
4 inc sound maxim that rules of action under ordi
nary circumstances, must not be deduced from


IRENE cases; and independently of the reasoning


on the present OCCASION which is deemed to be
conclusive; the history, Of the formation of the Con-


stitutlon. establishes, hey ond all cavil contro-


versy, that the trainers of that instrument,
only did not contemplate or intend that Congress
m'SM exercise the power TO charter Bank; but
actually decided that it should not possess any such
power. To prove this, it is only necessary to
refer to the proceedings of the Convention which
formed the Constitution; and there it will be found
that the proposition TO give that power TO Congress


was trice introduced. and often positively and
declsveIy rejected. Whatever other powers, there.
lore, latItudlnaran constructionIsts may claim BY
implication of what the Convention may have in
tended, this power 10 charter a Bank cannot be o n
the number; for it was expressly, and repeatedly,
refused. Besides tho legislative precedents, above
alluded to. the advocates Of n Rank rplv with
great apparent, confidence upon precedents of an
olher klnd-Judcial precedents, or the decisions
OF the Supreme Court of the United States. In
reference to such authority this, might, with
advantage to my argument, quote the views of Mr..
Ciay' as delivered in his speech in 1911, which
nave already mentioned. But ain satisfied to
direct attention TO it. In regard TO these DECISIONS


is sufficient, to destroy their force, to state the
iact mat they are inappIicable to the in its
present aspect before the country. lr this con-
neXion, might safely assert that the Supreme
court may only decide questions of law, or those
constitutional points which incidentally arise in
me Interpretation Of law in its apPlica ton to ca
ses OF private right. But will not enter into the
lehS'hy discussion it involves. 1t is sufficient Tor
my present purpose, that the cases, which have
oeen uecided, turned upon iisoated points which
couIa not embrace the whole subject now at tssue


ana besides this, the force and validity OF these





under the circumstances and at the time they |
were gwen, have passed away with the institution
II was their purpose to support. And IN the ab-
sence OF any such institution, all qusons, as 10 its
cousltutionality. are entirely new, and purely po-
hAical: Consequently no legal decision, whatev-
er It's inherent value, can have any weight IN set
Ting this question. am opposed to the establish
ment OF a National Bank, Secondtp, Because,
even if Congress had the Constitutional power, it
wonld be both injurious to the business, and dan.
gerous to the existence, -four present form of gov
ernment. Such an institution can add neither to
! the real wealth, to the sound credit of the
country. 1t can initiate business for a time; and
thus, give encouragement to speculation and ex-
travagance, which must inevitably result in wide
spread ruin and disaster. All experience shows
thls and farther: that all banking institutions,
the larger the more dangerous. become instru-
ments Of fearful power, Of expansion and con-
traction, in the hands of the few who will control
them-and whose interest is found in the fuctua-
tons OF business, to the great detriment of the
many. As regulator of the trade, and curron.
cy Of tho country, do not believe it capable of
accomplishing one tithe of the good which is pro-
missed for it; because find no evidence, either in
the history Of banks, or in the nature of things
/ to warrant any such expectations. But, even ifi