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Br Myron Bartlett, Telegraph is published every Wed- B'lrolng. ' ti .j Office on Mulberry Street, r.vt side. ‘',^'fiiKKK Dollars a year, if paid in ad ,r rook dollars, if not paid before the I nfthe « •, hpifsil in 1,11 ™* eg <» P=>V I" advance, hfParents and Guardians. tfllE Subscriber incites the attention of Fa- i -on and Guardians to his Seminary which r resent conducted in n very large and com- KL room in Mr. Cutter’s building, and will Irentiiiucd there until an academy shall be built [ESeen several years successfully ebghgetl hnsiness of Education, and Intending to eihc most untiring effortstd advance his ptt- L their studies, ho will unquestionably re Subscribers living at a distance ['Board of Visitation and Examination- has E. km dished, composed of the following per- -Pavid Flanders, G. B. Warding Luke Eso., II- C. Cutter, A. R. Free E'lhcr, W. J- Gibson. ’ e Board will visit the School cither ini Illy or in a body whenever they may think it Kt,tc will attend the Examinations mid re- Vrcspectitig the proficiency, &c. of the stu- ] may not he entirely inappropriate to insert [following testimonials, which, with numerous hare boon given by individuals where the -criber has heretofore resided: ft. Caleb It- Elliott, the hearer hereof, is an Lgred graduate of this College.' He took his ■degree at our late Commencement in August, [possesses good talents—ranked high in his |j-nnd has always 1 believe sustained an ir- icbahlo moral character. He will offer him- j an Instructor of youth; nnd ns ho has had I little experience and has succeeded well Kofore, I doubt not that he will.give aatisfac- Iwherever he may be employed. I H. HUMPHREY, President. Islerst College, Oet. 1, 1826. Hiaton, July 15,1829:—'This. Will certify that |CiM II- Elliott has been employed for a long las a Teacher in the Clinton Academy, and [during the timo faithfully done his duty to the Vc satisfaction of the undersigned Tustecs of [institution, and has been of good moral racier during his residence in this place, and s the Institution with our best wishes for his ire. James Smith, Esq. Gen. Wm. Flkwellan. Dr. W. B. Stephens. \Truslecs. Dr. Horatio Bowen. James Gray, Esq. C. B. ELLIOTT, A. B. kmm, Ml 5,1832. 28 - 3w |0 COMBINATION—FREE TRADE. icnwarc, Glass. China and LOOKING GLASSES. JIIOMAS J. BARROW & Co.; Importers l and Wholesale Dealers, JNo'. 88, Water Jot, New York, offer for sale a very large mid |nl assortment of Earthemcare, (Hass, Chi- ml Looking Glasses, selected with the gretit- rarc and comprising every variety of pink, |h brown, black, bine edged and C. C. [t: also, every style of plain and gilt Looking Chinn and Glass Ware, which will bo I .if as usual at free aud unshackled prices, •'ash or city acceptances. The attention Icrchants generally is invited to our Estait- pnt and plan of business, as calculated to lit tlie interest of all dealing in the iine.—r attention teitl he paid to nil orders by jr/roai our Southern friends, pledgiug our- 7*0 pay more than usual attention to their Jnauieations by.giving them the hesvest style Ms, and putting them down to the wry low* pk price. T< J, BARROW & Co., ! 88 /Filter Street, New York. ££ l ort, July 4. 1832. r’Tlio Georgia Journal and Federal Union (on Telegraph, Columbus Enquirer, Wash- kuXews aud Southern Banner, will publish |l»vc once n weok to th'e amount of $3J, and lard their accouuts to this office for payment. yrgio Courier. 28 1 CQAVIl mBING. VlF. Subscribers still continue tho lmsIncSv *' 'ho old stand, corner of Walnut nud ® Streets, where work will bo done accOrd- > order. Having a largo assortment of arti- lurdcred from tho Nortn which will nrrivo in T'Wse of the summer, consisting of Gigs, Bu- inarouches and Carriages, thoy feci cou- f °* pleasing customers both in articles and t® have now on hand an assortment which lyosold low for cash,- such ns Sulkoys, Gigs, [uarouches; besides sovcrnl splendid sets of i .with Laces,' Carpeting,' Morocco, gs of different kinds, Joints, Baud:, Loops nows of nil sites. Orders for Carriages ■'tally attended tot and warranted to plense ,«*ale. BENTON & BACON. I wanted as aa Apprentices I, at>n "t fourteen or fifteen years-of age; of f/moral habits. - .U.&IL |Mj 138 Proa’s Pulmonic Expectorant i COUGH SYRUl’, I i| 1 ““Hh’r Asthmas, Consumptions, and I \r/!??P m 8 Cough. A supply of this walu.- I- vuicine received nnd for sale by L ^ ELLIS, SHOTWELL &■ CO. ip, xaimiy jfiour I e superior quality, for mile by E-jW lg 142 C.A. HIGGINS. hl,P .pSWRAPffCE.- I coward Insurance Company of Nets J ork c °utinucs to insure COTTON, when i Hr K u° 0d P oat * or Boxes, against the C. 01 'J 1 * River. Rates of Preinium aro !30 to .0. DAY, Agent. The Alhambra, F5\.„.L *ASffilN0T0.’VijmVINO. [ a- . °f Bitches* D’Abrautes. trcaiixc on Manufacture of Porcelain a "d Glnss. 5nu ™u*]e* Just received nud for salo by lilt .ELLIS, SHOTWELL, to CO. . ' 2S |,„ J Mn-inoc* rriv S H ^EAUE Stmwi.8 just re- la'' 0 ' 1 by WM. II. UUUDSALL. MACON, GEORGIA, WEDNESDAY, ^ULY 23, 1832* message, F TJlu P n'*\ d »W Vnitei States, return- tions,‘ e P<ln ' t0 ^ ena,t lc ‘ </l his objec- ’Pothe Senate! bil1 “W modify and continue" the net, eh- Jo incorporate the subscribers to ?hc States,” was presented tome «“.t d , U ^’ 'Ue'eot. Having cqnstdered it Cn« *L a 'solemn rc K nr<I to tho principles of the s re n ,'. 0 "’ wl “ cl ‘ “!? d,i y 't as uaMated to in- spire, nnd come to the conclusion that it ought not to become a law, I herewith return it to the tions tC ’ m " l C I ,t or 6 , uated, with iny objec- •^A Bank of the Uuitcd Slates is, in many re acts, convenient for tho Government, and use ful to the people. Entertaining tiiis opinion, and deeply impressed with the belief that some of the powers^ud privileges possessed by the existing bank^nre unauthorised by tho Constitution, sut.: versrvfi of the rights of the States, and dangerous to tlielihcrties of the people, I folt it my duty, at an early period of my administration, to call the attention of Congress to the practicability of organizing an institution combining all its advan- tages, nnd obviatiug these objcctiuns. Lsinccrc- ly^egret that, in the act before me. Tcaripdr- ceive none of those modifications of the bank charter which are necessary, in my opinion, to make it compatible with justice, with sound pol icy, or with the constitution of our country* The present corporate body, denominated the I resident,.Directors, and Company of the Bank of the Uuitcd. States, will have existed, at the time this act is intended to take effect, twenty years. It enjoys an exclusive privilege of bank ing under the authority of the General Govern ment, n monopoly of its favor and support, and, as a necessary consequence, almost a monopoly of the foreign aud domestic exchange. The pow ers, privileges and favors bestowed upon it in the original charter,, by increasing the value of the stock far above its par value, operated as a gra tuity of many millions to the stockholders. An apology may be found for the failure to operate against this result, in the consideration that the effect of the original act of incorporation could not be certainly foreseen nt the time of its passage. The act before me proposes another gratuity to the holders of the same stock, and in many cases to tho same men, of at least seven millions more. This donation finds no npology in any uncertainty as to the effect of the net. On all hands it is couccded that its passage will in crease, at least twenty or thirty per cent more, the market price of the stock, subject to the pay ment of the annuity of 8200,000 per year, secu red by the net; thus adding, in n moment, one- fourth to its par value. It is not our own citizens only who are to receive tho bounty of onr Gov ernment. More thau eight millions of the stock of this bank arc held by foreigners. By this net tho American republic proposes virtually to mako them a present of some millions of dollars. For these gratuities to foreigners, nnd to some of our own opulent citizens, the act secures no equiva lent whatever. They are the certain gains of the present stockholders, under tho operation of this act, after making full allowance for the payment of the bonus. Every monopoly, and nil exclusive privileges, are granted at tno expense of the public, which ought to receive a fair equivalent. The many millions which this ngt proposes to bestow on the stockholders of tho existing bank, must come di- reetly or indirectly out of the earnings of the A- merient) people. It is due to them, therefore, if their Government soil monopolies nnd exclusive privileges, that they should atloastexact for them as much as they aro worth in open market. Tlie value of the monopoly, in this case, may be cor rectly ascertained. The tweuty-cight millions of stock would probably be at an advance of fifty percent, and command, in market, atleastforty- two millions of dollars, subject to the payment of the present loans. The present vriltfe of the mo nopoly, therefore, is seventeen millions of dollars, and this tho act proposes to soli for three millions, maynble in fifteen annual instalments of $200,000 cnch. It is not conceivable how tha present stockhol der* can have any claim on tlie special favor of tho Government. The present corporation lias enjoyed its monopoly during the period stipulat ed iu the original contract. If we must have such a corporation. #vhy should not the Government sell out tho whole stock, mid thus secure to the people tho full market Value of the privileges granted? Why should not Congress crcato nnd sell the twenty-eight millions of stock, incorporat ing the purchasers with nil the powers and privi leges secured in this act, and putting tho premi um upon the sales into the treasury. But this act doos not permit competition in the purchase of tins monopoly.. It seems to bo pre dicated on the orroncous idea, that tho present stockholders have n prescriptive? right, not only to tho favor, but to tho bounty of the Government. If appears that moro than a fourth part of the stock is held by foreigners, nnd the residue is held by n few hundred of our citizens, chiefly *f the rich est class. For their benefit docs this net exclude- tho wftoto American people from competition ip the purchase of this monopoly, nnd dispose of it for many millions less than it" js worth. This sooms tho loss excusable, because soino of our cit izens, not now stockholders, petitioned that the door -of competition might bo opened, nud offered to take n charter on terms much moro favorable to the Government ami country. - But this proposition, although mado by mon whoso aggregate wealth is believed to ho equal to nil the private Stock in tho existing bank, has been sot aside, nud tho bounty of Government i* ed., a privileged order, clothed both with great po litical power, nnd enjoying immense pecuniary advantages, from their connection with the Gov ernment. ' The modifications of the existing charter, pro posed, by this act, are not such, iu my eyes, as make ttconsisteut with tlie rights of the States, or or the liberties of the people. Tho qualification of the right of the bank to hold real cstateJ the limitation of its power to establish branches, noil the power resorved to Congress to forbid the <S. culation of small notes, are.restrictions coiripaflF lively ofhttle value or. importance. All the ob jectionable principles'of the existing corporatmpV out afieviarion , .'" l *' OU3 *' ea,u ^*’ nrere,# ' uc d w9h- conceive tha, great evil, ,b our'com.fry a»J it, — ... _ institutions niigln lb-w from such a concentration tne notes-oTI{,of pdwer in the hands of a few men irresponsible * danger to our liberty nnd- inilcpen- denceWff-bank that, lujts'nature, has *b little to bind it fo-tJBr country ?.<»a president of the bank .as told us, that most oT tlie »tate banks exist by „ forebengancc.. Should its influence become concentrated? ns it mayjinder the operation of Irchai i HD lllllt Hlll/ISlxl 4 “ 4 , . amide; and’if it has been well managed it* pres sure will be light, bnd.heavy only mease its man agement has been bad. If, therefore, itshall pro- iluco distress, 'tpc .fnult^wiH' t>eJ.cyS)iYi>>- ! 8 ul . “.j Vol. YI—-No. 30. thitd of the stock in foreign hands, and not re presented in elections. It is constantly passing' out of the country, and this net will accelerate its departure. The entire control of the institution svou.d necessarily fall into the bands'of n few ci tizen stockholders, nnd tho ease with which the object would be accomplished, would ho a temp tation to desigiiitfg men to secure that control m their own hands by monopolising,lio remaining stock. There is danger that a president and dir rectors would then beetle to-elect themselves from year to yilar, nnd without responsibility or The fourth section provide bills of the said corporatidrfxrf&ltR&ugli the same[Ko ti be ontlm^icostliercof rcspe'ctfuliyjmado payable at ono place only, shall nevertheless bo recei-ea by thwsaiil corporation at thebauk, or at an the office’ of discount and depositejijereof, if dcred in liquidation nr payment : <ji uuy balm 'i'lffifarpnrationVor ,o such t a riff ritposite from .nk.” M . Jinn secures™ thea*l&- gal privilege in the bank of the United States, which 19 withheld from all private citizens. If a State bank in Philadelphia ow/j the hank of tho United States, and have notes issued by the St. Louis branch, it can pair the debt with those notes: but :f a. merchat, mechanic or other private citi zen bo in like circumstances, lie cannot, by law, pay his debt with those notes, but must sell them at a discount, or send them to St. Louis to lie cash ed. This boon, conceded to the State banks, though not unjust in itself, is most odious; because it does not measure out equal justice to the high nnd the low, the rich nnd the poor. To the ex tent of its practical effect it is a baud of iiuiou a- mong tho banking establishments of the nation, erecting them into an interest separate from that' of tlie people: and its.necessary tendency is to u- uite the bank of the United States, ami the State hanks, in any measure which may be thought conducive to their common interest. Tito ninth section of tho act recognizes princi ples of worse tendency than any provision of tho present charter. It enacts that “the cashier of the bank shall annually report to tho Secretary of the Treasu ry the names of all stockholder? who arc not resi dent citizens of tho United States; and, on the application of the Treasurer of any State, shall make out, and transmit to such Treasurer, n list of stockholders residing in, or citizen of, such State, with the amount owned by each.” - .Although this provision, taken in connexion with a decision of the Supreme Court, surren ders, by its silence, tho right of tho States to tax the banking institutions created by this corpora tion, under the name of branches, throughout the Union, it i3 evidently intended to lie construed as a concession of their right to tax that portion of the stock which may bo held by their own citi zens nnd residents. In this light, if tho net be comes n law, it will be understood by the Stntes, .who will prolmblv proceed to levy a tax equal to that paid upon tno stock of banks incorporated by themselves. In some States ilmt tax'is now ono per cent., either on the capita! or oil tho shares; nnd that may hr assumed ns the jimount which all citizens or resident stockholders would lie taxed under tho operntion of this act. As it is only the stock held in the-States, and not that employed within them, which would be subject to taxation, nnd a3 tho names of foreign stockhold ers nre not to be reported to the Treasurers of tho States, it is obvious that the stoek held hy them will lie exempt from this burden. Their'nnnunl profits will, therefore, be increased one.per cent, more than tlio citizen stockholders, nnd ns the an nual dividends of tbo bank may be safely esti mated nt seven per cent., the stock will bo worth ton or fifteen per cent more to foreigners thnn to citizens of the United States. To appreciate the effect which this stato of things will produce, we must tnke n brief review of tho operations, and present condition of tho Bank of thoU. States. By documents submitted to Congress, at the present session, it appear* that on the 1st of Jan uary, 1832, of tho twenty-eight miilinn* of pri vate stock in tho corporation, $8,405,500 were held hy foreigners, mostly of Great Britain. Tho amount of stoek held in the nine western stntes is 8140.200, and in the four southern slates is $5,023,100, and in the eastern nnd hniddle states about $13,622,000. Tho. profits of tho bank in 1831, ns shown in a slntemcnt to Co'tfgrcss, were about $3,455,598; of this there accrued in the nine western states about $1,640,042, in tho four southern states about $352,507/arid in' tbo middle aud eastern states, about $1,463,041. As little stock is held in the west, it is obvious that ihc- debt of the pcoplo in that section to tbo bank is E rincipally a debt to the eastern nud foreign stock- olders; that tho interest they pay upon it, is car- ried into the eastern states nud into Europe; and that it is a burden upon their industry,and admin of their currency, which no country can. hoar without inconvenience, and occasional distress. To meet this burden, nnd equalize the exchange operations of tho hank, tho amount of specie drawn from those stntes, through its branches, within the last two years, ns shown by its official reports, wns about $6,000,000. More tiian half a million of tins amount docs uot stop in the east ern states, but passes ori to Europe, to pny the dividends to tho foreign stockholders.. In the principle of taxation recognized by this act, the western slates find no ndequato compensation for this perpotual hurdenou their industry, and drain upon tlicir currency. The branch bank at 51o- bilo made, last year, $95,140; yet, under tlie pro control, manage the whole Concerns of the bank 'ho bank to perform, conveniently aud elficicntlv. during the existence of. itsxhartor. It is easy to the public duties, assigned to it as a fiscal a cent, conceive tlifit grcut «vifi /•»*•***mi»i»*««r «*«.i :# u «»***i timHimn ■ .i ® . a bpnkitig institution, is a question exclusively for legislative coiisidcrrtion., A bank is conxtiiii- tionaI; l)ut it is the province of the legislature td determine whether this or that particular power, privilege, or exemption, is ‘‘necessary and pro per" to enable the hank to discharge its duties to th'e Government, and from their decision there is no appeal to the courts of justice. Under tho de cision of the Supreme Court, therefore, it is tho exclusive province of Congress aud tho President to decide, whether tllo particular fcnturcs of this act are ‘‘necessary and proper,” hi order to enable no revenue from these profitable operations; bc'- causo not a share of tlie stock is held, by any of her citizens. .Mississippi nnd Missouri are in the same condition in relation to tho breaches at Nat chez nnd St. Louis; nud such, in a greater or loss degree, is tho condition of evory western state. The tendency of tho plan of taxation which this net proposes, will bb to place tlio whole United States in the same relation to foreign countries which the western states bear to the nronosed to be again bestowed on the few who visions of this act, the state of Alabama can raise Tv P e Iwon fortnnrte “no C ugh to secure tho stock, — »’«" bc ' nnd nt this moment wield tho power of the exist ing institution. • I cannot perceive tlio justic.o or policy of this course. If our Government must sell monopolies, it would scorn to he its ditty to tako nothing less than their full value; nnd if gra tuities must ho rntitjo ouco in fifteen or twenty years, let them not he bestowed on tho subjects of a foreign aovernment.yior upon a designated or fnvored class of men in our own country. It is but justice nnd good policy, as far as the nature of tlie caso will admit, to confine bur favors to our own fellow citizens, and let cnch in Ins turn en joy all opportunity to profit by our bounty.. Iu tho hearings of thoacthcfcromcupon these points, I find ample reasons why it should notbccomon * It has been urged ns nn nrgumontm favor of rcchartering the present hank, that calling in its In mis would produce groat embarassmeut and dis tress. Tho time allowed to' close its concerns is cLas this in tjflbands of n self-elecicd directory,-Whose intuudKn- identified With tlitiie of the foreign stocldiom^WWlf tliero not he cause to' tremble for tho purity of our elections in pence, nnd for tho independence of our country in war? Their power would be great whenever they might choose to oxert it; hut if this monopoly were regularly renewed every fifteen or twenty years, on terms proposed by themselves, they might seldom iu peace put forth their strength to influence elections or control tho affairs of the nation. But if any private citizen or public func tionary should interpose to curtail its power or prevent a renewal of its privileges, it cannot be doubted that he would be made to feel it* influ ence. Should the stock of tho hank principally pass into the hands of tlio subjects of a foreign coun try, and we should unfortunately become involv ed in a war w'itli that country, what would he our condition? Of tho course which-would be pursued hy a bank almost wholly owned hy the subjects -of a foreign power, nnd managed by those whose interests, if not affections, would run in tho same direction, there can he no doubt.— All its operations within wonld bo in nid of the hostile fleets and armies without: controlling onr currency, receiving our public moneys, ami hold ing thousands of our citizens in dependence, it would tie more formidable rind dangerous than tlie nnvnl and military power of the enemy. r •' If wo.must have a hank with private stockhold ers, every consideration of sound policy, nnd ev ery impulse of Amcricau feeling, admonishes that it should he purely American. Its stockholders should be composed exclusively of our owtt citi zens, who nt least ought to be friendly to our go vernment, nnd willing to support it in times of dif ficulty and danger. So abundant is domestic enp- itnl, tint competition in subscribing for the stock of local banks has recently led to serious riots.— To n bank exclusively of American stockholders, possessing the powers and privileges granted by this net, subscriptions for two hundred millions of dollars could lie readily obtained. Instead of sending abroad the .stock of tho bank, in which, the government mint deposits its funds, nftd on which it must rely to sustain its.crcdit in .times of emergency, it would rather seem to he expedi ent to prohibit its sale to aliens, uuder penalty of absolute forfeiture. It is maintained hy tho advocates of the bank, that its constitutionality, in all it* features, ought to bo considered ns.settled bv precedent, nnd by tho decision oflhe Supreme Court. To this con clusion I cannot assent. More precedent is a dangerous source of nnfhority, nnd shuuld not be regarded ns deciding questions of constitutional power, except where tho acquiescence of the peo ple and the states can he considered as-well-set tled. So far from this being the case on this sub ject, an argument against tho bank might be bas ed on precedent. Goo Congress, in 1791, de cided in favor of a bank; another in 1811, decid ed against it. One Congress, in 1615, decided against u hank; another, in 1816, decided in its favor. Prior to the present Congress, therefore, tho precedents drawn'from that sourco wore e- qiml. ' If we resort to the states, the expression of legislative, judicial, nnd executive opinions it- gainst the bank have been, probably, to those In its favor, ns four to one. There is nothing in pre cedent, therefore, which, if its .authority were a 1- mittud, ought to weigh in favor of tho net before If tlie opinion of the Suprcrire Court covered the whole ground of this net, it ought uot to con trol the co-ordiuntc authorities of this government. Tho Congress, tho Executive, nnd the Court, must each for itself be guided by its own opinion of tlie -. Constitution. ' Each public officer wh'o takes nn oath to support the Constitution, swears that he will support it as ho understands it, aud uot-as it is understood hy others. It is ns much tlie duty of tlie House of Representatives, of the Senate, mid of the President, to decide upon tho constitutionality of any bill which mny be present ed to thttn' fo* passage' or approval, as it is of. the Supreme Judges, when it nrey be brought before them for passage or approval, as ii k of the Su preme Judges, when it mny bo brought before them for judicial decision.- Tho opinion of tho Judges ha* uo more authority over Congress than the opinion oft'.-n^i-i-- l'i- over »hc Judges; and on that point, the President is independent of both. Tlie-authority of I in- Supreme l.'ourt must not, therefore, he permitted to control the Congress or tlio Executive, when acting in their legislative capacities, buif to have only such influence as tbo force of ihcir reasoning tnny deservo. But in tho caso relied upon, tho Supreme Court have not decided that nil tho features of this cor poration are compatible with the constitution. It is true, that tlio court liavo said, that the law in corporating the hank, is a constitutional cxerciso of power by Congress., But taking interview the whole opinion of the court, nod :lu- rcnvuiing hy wluch they havo come to that conclusion, I un derstand them to liavo decided that, inasmuch ns n bank is an appropriate means for carrying into effect the enumerated power*of tlio Geucral Gov- I crnmciit, therefore, tho law incorporating it is iu eastern. When, by a tax ott resident stockhold-1 accordance with that provision of tho cntistitu- era. the stock of this bank is made worth ten or tion which declares that Congress shall havo pow ers, the stock of this fifteen per cent moro to foreigner* than to resi dents, most of it will inevitably ieavo tho country. Thus, will this provision, in its practical effect, deprive tho eastern at well as. the southern and wettern states, of tbo means of raising a revenue from tlio extension of business and the great pro fits of this iitstifirtiofl. It will mako the Amen- r;m p C .„p!c dcVw,- tn alien* In nearly, Ute wBole amount duo to this bank, and send across tho At* loiitic from two to five million* of specm every year, to pay the hank dividends, ^ In another of it* bearings this proyfsMB h fronpht with dancer.-. Of the tv enty-fiver dire'e- poworful? To'nckriowledgi that tbo bank ought to bo perpetual, and, ns a ] tion, therefore, ns me siock ij ir,nuniicu ,u >«- con.emrence, the present stockholders nhtl those] hohlftrs, the extent:of suffrage '". lh< j inheriting their rights as sutcessor* be establish-1 of airceiort is curtailed* Already is almoit.a cr “to make all laws which shall be necessary and proper for carrying those powers into execu tion." Having satisfied themselves, that the word “necessary,” in-thecotrstitution. moans “needful,” “requisite,” “essential,” "conducive to," and that “a hank" is a convenient, n useful, amt essential instrument Iu the prosecution of tho Government’s “fiscal operations,” they conclude that, to “uso one mirst ho within tho discretion of Cdbgrcssj" nnd, that. "11* act to irieorporato the Bank of the United States, & a law mado in pursuance of tire constitution.” . "But,” say they, ‘‘where-the truti is not prohibited, and is really calculated to ef fect arty (f the objects entrusted to the government, to undertake here to inquire into the degree of its necetlUu,- would he to pass the line which eirevm- scrites thi judicial department, and to-tread on le gislative ground.” . , , •The principle, hero afllrmctl* U, tn?it too “dc- grec. of its necessity," involving'all'the details of and, therefore,'constitutional, or unnecessary and tmr,roper, and, therefore, unconstitutional. ' ‘ Without commenting on tho general principle affirmed by the Supremo Court,' let its examine tho dotmls of this act, iii accordance with the rulo of legislative action, which thoy have laid down.' It will he found, that many of the powers and pri vileges conferred on it, enunot ho supposed ne cessary for tho purpose for which it & proposed to be created, and are uot, therefore, means neces- sary to attain the end in view, aud, consequently; mot justified bythe constitution. The original .act of incorporation, leetfori 21; enacts, "that no other hank shall ho established by any future law of the United States, during thri continuance of tho corporation, hereby created; for which the faith of tho United Stntes is hereby pledged: Provided, Congress mny renew existing charters for banks within the District of Colum bia, not increasing tlio capital thereof; and may, also, establish any other hank or banks iu said District, with capitals not exceeding, in tho. whole, six millions of dollars, if they shall deem it expedient.” This provision is continued itt force by the net before me, fifteen years from tho ■ 3d of March, 1836. . ■ . If Congress possesses tho power to establish ono". bank, thoy had powerto establish more than one," if. in their opinion, two or more banks had been "necessary” to facilitate the powers delegated to' them in tno Constitution. If they possessed tho powerto establish n second bank, it wns a power derived from the Constitution, to be exercised from time to time, and at any timo when the interests of tho country, or tho emergencies of tho Govern- 7 ment might mako it expcdiont. It was possess- • ed hy one Congress as well as another, and by nil’. Congresses alike, nndVilikc at every session. But the Congress of 18I6"havo taken it away from tbeir successors for twenty years, and tlio Con- ■ gress of 1832 proposes to abolish it for .fifteen years more. It cannot be “necessary” or -“pro per'' for Congress to barter away, or divest them selves of, any of tlio powers rested in them by the Constitution, to be exercised* for the public good; It is uot “necessary" to tho efficiency of' the bank, nor is it “proper" in relation to them selves and their successors. This restriction on themselves, nnd grant of n monopoly to tho bank, is therefore unconstitutional. - " ' r V lb* another point of view, this provision j*.n f palpable attempt to amend the Constitution by an act of legislation. Tho Constitution, declare* , that "tiie Congress shall have power” tqcxcrcbo exclusive legislation in all cases whatsoever, over *' tho District of Coluiphin. Its constitutional now- er; therefore, to establish banks in the District of- Columbiu, and increase their capital at will, is' unlimited nnd uncoutrolabie by any other power than that which gave authority to the Constitu tion. Yet this net declares, ihnt Congress shall not iucrcase tlio capital of existihg hanks, nor cre- nto other hanks with capitals exceeding in the whole six-millions of dollars.. The .Constitution I declares, that Congress shall have power to exer- . cise exclusive legislation over this district "in all cases whatsoever," and this act declares they shfiti - not. Which is tho supreme law of tlie land ?. This provision cannot bo “necessary” or !‘pro;*r”J or “conslitutionpl,” unless tho absurdity lie admit-' ted, that whonever it lie “necessary and proper” in tho opinion of Congress, they have n right to barter away ono portion of tho powers vested in ■' them hy.tho Constitution as amcans of executing^ the test. , • . . --'-r On two subject* only ddes tlie fonstltution re cognise in Congress the power to grant excltisiv e privileges on monopolies. It declares that ‘‘Con gress shall havo power to promoto the.progress of science nnd the useful arts, by securing,' for li mited timesi to authors mid inventors, the exclu sive right to their respective writings nnd disco veries." Out of this express delegation of power, Itnvp grown onr laws of patents und copyrights. As tho constitution expressly delegates to Con gress the power to grant exclusivo privileges in those cases, ns fhc means of executing the sub stantive power "to promote the progress of sci-. cnee arid useful arts,” it is consistent with the fair rules .of construction to conclude, that such a pow er was not intended to he granted as a means of accomplishing any other end. On every other subject which comes within thcscqpc of Congres sional power, there is nn ever living discretion is? the riso of proper means, Which cannot he restrict ed or abolished without an amendment of tha' constitution. Every act of Congress, therefore,- which attempts. Ire grants of monopolies, or ?<a!c of exclusive privileges for a limited time, to re strictin' extinguish its own discretion in tho choice' of mean* to execute llt.iMajpitd poteen, is <•- quivnlcnt to h legislative amendment of tho con stitution, and palpably unconstitutional. This act authorises and cncoriragcs transfers of its stock to foreigners, and grants them an ex emption from all State nml national taxation. So far from being "necessary and proper” that tlio bank should possess this power to mako it a safe and sufficient-agent of the Government in its fiscal operations, it it calculated to convert the Bnnk of the United States into n foreign bank, to impoverish our people in time of pepce, to dis seminate a foreign influence through every section 1 of the republic, and in war to endanger our inde pendence. , L" Tho .several States reserved the power at tho formation of the eiin-litiitimi. to regulate and con trol titles and transfer of real property, and most, if not all of them', have laws disqualifying aliens fropi acquiring or holding lands wirhirt their li mits. But this act, in disregard of tlie undoubted right of tho States to dcscriho snch disqualifica tions, gives to aliens, stockholders in this bauk, an interest arid title, ns members'of tho corporation, to nil the real property it may acquire within any of the States of trio Union. This privilego grant ed to aliens is not “necessary'' to enable die bank td' perforin its public duties, nor in any sense “proper;”'because It.b ftfally subversive of the rights of the States. B • Tha government of the Uniteil.Stntes have no constitutional powerto purchase lands within the Stntes except "for tho erection of forts, maga zines arsenals, dockyards, and other needful buildings,” and even for these objects only "bv the consent of the legislature of the state in whicW the same shall be.” By making themselves stock holders in the hank, arid granting to the corpora tion the power to purchase lands for other pur poses, they ilHsumc a power not granted in tha constitution, and grant tc others what they do< not thomd-Ives pa-jci-. It is not necessary tot the receiving, safe keeping? or transmission of tho funds of tlio government, that the bank skoalte