VOLUME III---NUMBER SO
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Z
other, or such additional provisions as may
Be necessary . revive and maintain, unim
paired, the public credit.


JOHN W. EPPES. Chairman.


The reader will here be struck with The
coincidence between the course adopted by
+ Congress on this occasion, and that pursued
s 10 1871. Not only dothey agree Ia sub.
staEce, bu: .he language Is alTnoSt the same
+ In 1890, Mr. Hamilton was requested to
/ suggest measures 10 establish the public
credit in his reply he recommended a
National Bank. In 1914, MIR, Dallas was
/ called on TO suE gast measures 10 revive and
maintain, unimpaiFed, the public credit.
| tiogal Bank L would be difficult 10 resist
the conclusion from the similarity Of the
means employed that similar end was
net contemplated


The communication of Mr. Dallas, in re-
| ply to the letter of Mr. Eppes, was dated,
nth October, 1911. and was distinguished
for lis ability. He examined the subject
we'll, both in regard to It's conslitutionailty
and expediency. There is one passage of
this report which has struck US with 50
much force that we cannot deny our readers
the opportunity Of seeingt Il relates to
the constitutional power Of Congress to
charter a Bank, and is in these words:


Il cannot be insensible to the high au-
thorrv Of the names which have Appeared in
| opposition to that measure on constitutional
grounds II would be presumption 10 con-
| lecture that the sentiments which actuated
the opposition have passed away; and yet
Il would be denying to expelience 4 great
practical advantage were we to suppose that
a difference Of times and circumstances
would not produce a corresponding differ
ence in the opinions Of The wises, as wollas
the purest Of men. Bu:, in the present case,
a change of private opigion is nog material
10 the success of the proposition for estab-
fishing National Bank In tho admins
tration of human affairs, there must be a
period when discussion shall cease, and de,
cision shall become absolute a diversity
Of opinion may honorably survive The con.
Test, but, upon the genuine principles Of
representative government the opinion OF
the majority can alone be carried lnto action.
When, therefore, we have marked the exis-
tence ofa National Bank, for a period Of
twenty years, with all the sanctions Of the
| legislative. executive. and Judicial authori-
ties; when we have seen the dissolution Of
one institution and heard loud and cou-
tinued call for the establishment Of another;
when, under these circumstances, neither
| Congress nor the several states have resor-
ted 10 the power OF amendment, can it be
deemed a violation of he right OF private
opinion to consider the econsatuuonalitY Of a
National Bank as aquesqon forever settled,
and at rest


On the 2fst October, the house resolved
itself into committee cf the whole on the
letter of Mr. Dallas. SC. That committee
reported, as the result of their deliberations,
the following resolution:


"Besolved, That it is expedient 10 esta5-
| lish q National Bank-with Branches in
the several states fSee Journal page 504 I
MR. Stanford moved to amend the resoiu-
ton by striking aut these words with bran
ches id the several states.


This proposition brough' up the question
which has recently. acquired so much cele-
brity, from the fact of being the pretext Of
the Accidental Circumstance which now en-
cumbers the White House, for vetoing the
Bank Bills of1s4l. 80 @


Upon this motion the.ayes aud noes were
called, and the vote stood ayes Il, noes
i38, or nearly ten TO one Among the
noes were II. p Barbour, John G Calhoun,
1uHtOCAt VI apps u ftttof
Forsyth of Georgia. Ingham and c. J IN
gersol OF Pennsylvania. Wm. r. King,
now of Ala, Lowndes, Mccoy of Virginia,
John Mclean of Ohio, and host OF the
Old Republicans. fSee Jour p sos


The question then REQUIRED on agreeing
to the reso luton OF the committee. and the
ayes and noes were again taken.


Here let US beg our readers to mark the
particular shape N which the question was
presented [, came up in the simplest form
possible. There was no bill with numer-
Gus details. about which the most honest
men might we'll differ 1t was the naked
abstract question Bank or No Bank IL
submitted for the adjudication of congress
The principle, the whole principle and moth
ing but the princfp cfple-unembarra by
such extraneousa matters as :he amount of
the carital, or the length of time the char.
ter was to run--or the particular privileges
10 be conferred. In this point of view. il is
the most interesting question which has
ev er been presented on the subject and it
seems TO US 10 be the most authoritative pre-
cedent which could be cited.


The vote on this resolution was ayes 90,
noes Sd, journal 1874 p. 505.)


Among the ayes were all the Distinguish
ed republicans we have named, who voted


