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State, except wherein it has, through the Consti-
tuition. delegated portion of its authority. to the
Federal government. What becomes of this su-
Preme authority of the State, when it is superced.
ed by an omnipoten and irresponsible corporation!
Tor let II be borne in mind that the very reason for
the employment of such an institution endows il
with power superior to that of the State gov vern-
ment. Llmltlng the argument, then, to this sin.
gle consideration, due regard for tho rights of
the States, and a sound policy for the perpetual
ton Of our present form of government require
every American patriot to oppose the establish
ment of National Bank. In conclusion. of this
subject. must add, that the other two grounds of
expediency, and the only ones, upon which un-
derstand the advocates of Bank to urge its es-
taoiisnment, are its power to regulate exchanges
between different and distant portions of the coun-
Try; and its utility as depository of the public
money; acting as a fiscal agency, for tho coec.
ton and disbursement of the government reve.
nues. The former of these can now be adyanta.
geousiy dispensed with, since the experience of the
last few years, shows that excha nges over which


Banks cannot exercise any beneficial control are
conveniently, properly, and safely regulated by
.he great laws of trade, in the natural course of


business. AS depository of the public money.
or hscal agency for the collection and disburse.


n:ent OF the revenue, banks are no longer needed


heir supposed necessity for this use, was entire
~ superseded BY the passage of the lniepedent


treasury Bill, which combining all the advanta.
Ses ot safety and convenience came clearly with


IN the purvew of the Constitution; as it only con-
templated the branching of the Treasury to suit
the extension OF our government. The original
thirteen States all lay OF the side Of the Al.


eghanics; and near their CENTRE at the seat of pov


ernment. was placed our national treasury. The
government has been extended double the
number OF States, cmbra cling three times the guam
tIty OF territory. and five SIX times the amount
of population. BY the Constitution, the Treas
ury is the place for the safe-keeping of the rove
nues Of the government; and if convenience, and
general advantage are to be sought the branches
OF the Treasury would be places far more appro.
pirate than Banks or their branches-all of which
continue to keep themselves irresponsible; and
when seated upon the government by act of Con-
Sress hang upon it like incubus. paralyzing,


rather than Intusing energy into its operations.


Having occupied so much space with the sub
JectS already discussed, my following remarks
mnst be restricted within much narrower limits
than had intended or desired.


PROTECTIVE TARIFF.


The views have presented. of the original and
extent OF the powers of tho Federal Government,
are peculiarly applicable to the Tariff question.
For, although the power Of Congress to law and
collect taxes. by means Of duties upon foreign i'm
ports, IN und'sputed. being expressly given in the
Constitution; yet its limitation is clearly defined
not only by the principle of equality which lies
at the foundation Of our government, but aIso, bv
the express requirement of the Constitution. tha,
'ail duties, ImpostS. and eXcises shall be uniform
throughout the United States. And not only should
these duties. be uniform in rate, and equal in the
proportional amount collected from each individu.
al and class OF individuals; but no more. in amount
should be collected than is absolutely necessary
10 pay the expenses of the government economi.
cny administered. Thus Rerenue. alone. should
be the object of all Tariff laws; while economy in
amount, and equality in proportion, should be their
characteristic principle. Such the design of
the trainers of the Constitution. and such the ey.
press provision of the Constitution itself. To dis.
regard or violate these principles, is to violate the
Constitution. and sap the foundation of the gov.
ernment. In the early days of the Republic, no
other view, of this important subject was enter
tanned by any party. Until 1916, no other OBJ
lect than the raising of revenue was ever propos.
ed to be accomplished by the imposition ofa tariff
of dudes. Previous to that period the duties had
been, comparatively, very low; levied only with


the view OF paying the current expenses of the
government; and, for that purpose, they were
found to be more convenient, and more satisfacto.
ry TO the people; partaking somewhat of the vol.
untary principle, than the old and odous system
of "direct taxaton,' which had been practiced bv
the mother country. In 1916. however, the war
had just terminated; our debt had greatly increas.
ed; our current expenses had increased; and hence
the necessity of increasing our revenue. Conse-
quently, it was proposed to augment the Tariff
tax; nor wasthis justly Objectionable, inasmuch as
there was a clear and legitimate necessity for it.
Nor did the proposition deserve. or meet with, less
favor, because it was found that our manufactures
then in their infancy, had sprung into existence,
during the non-intercourse of the war, and rem.
dered US good service in our time of need, would
DO benefited by its adoption. Upon this ground,
the manufacturers asked for t-and called it pro.
lection. "A feeling of gratitude, apart from any
motives Of general policy, impelled the represen-
tatlves OF the people, to grant this request, not
merely as boon of protection, although the cir.
cumstanccs mi ght have warranted that, as tenn.
porary measure, but as secondary object Incl.
dent to an object expressly indicated in the Con.
and which it was their imperative duty
to accomplish. This protection insured to the
manufacturers, not as right, for as such it had
not even been asked; but as a favor, to save them
from the sudden and overwhelming influx of for.
eign importations, which would have followed the
termination Of the war, if our ports had been left
as free to all comers, as formerly. This may
justly be considered the organ of protection, as
such, to the manufacturing interest of this coun-
try. 1t was first asked as favor; but since its en-.