15 federal revenue,1? If they even considered paper money, or bank notes, aS synonymous with coin, as contended by Mr/ McDuffie, they appeared, at all events, to discriminate between paper coin and gold and silver com, by making the latter only receivable in payment of the public dues. So that “ gold and silver coin,” and not paper coin, appear to be the only currency known to the constitution ; or to the laws of Congress which define the kind of currency to be received-in payment of the federal revenues. I would now call the, attention of the committee, for a few moments, to the last paragraph of the 8 th section of the constitution : “ To make all laws which shall be necessary and proper to carry into effect theforegoingpowers.” It will not be pretended, I apprehend, that.this clause vests in Congress any newsubstantive power; or that it in any wise supersedes or invalidates any one of the enumerated powers. This position would be too extravagant—too monstrous, for even modern sophists to take. It will, I trust, be conceded, that the powers comprehended'in this clause are subordinate and incidental in their nature, merely conferring on Congress the right to exercise such means as shall be strictly necessary and proper to execute the express powers-, or, without which, the,powers expressly granted cannot be carried into effect. This point yielded, as yielded it must be, the question arises, whether a national bank be a necessary and proper mean to carry into effect any of the specified powers ? In order to show that it is necessary, essential, indispensable, it must be made to appear that the enumerated powers cannot be carried into effect independent of a national bank. Experience has demonstrated that they can, one and all. And, in the second place, in order to prove that a national bank is a proper means, it must be shown that the power, to create it is an incidental and not a substantive power; which, I apprehend, cannot,be done. No, sir, it cannot be shown that the power to grant charters of incorporation, is merely an incidental or subsidiary power. Among all the powers, enumerated in the constitution, 1 defy gentlemen to designate a solitary one that is capable of being wielded with more potent effect; not for good, but for evil. If Congress possess the power to grant a charter of incorporation, in their national capacity, in one case, they do in another. If they possess it at all, they possess it without limit, and can. extend it, whenever they think proper, to any and every object whatever; whether it be in derogation of State and individual rights, to a Mississippi land monopoly, to a monopoly of the trade of the Indies, or to the cod and whale fisheries. Sir, what is the distinguishing characteristics of incorporations? They are essentially aristocratic in their nature; being invested with exclusive privileges—privileges withheld from .the rest of society. They are allowed to purchase and hold teal estate; which the United States themselves cannot do without obtaining the .consent of the, S tates. They are. allowed to hold property in mortmain, and. are capable, of being so organized or constituted as to change the course .of descent in the several States; I mean where their corporate character is concerned. Nor is this all: so sacred are their rights held, and so carefully guarded.are they by the legislature and judiciary, that they cannot be reached by law without permission on their parts: nay, more, they are even placed beyond the control of future legislatures—at! east, such is the opinion of some. And yet we are told that a power, to incorporate—a power of such great and fearful magnitude, and' capable of producing so much mischief—is, after.all, a mere.incident of a power! Think you, sir,.that if the members of the convention, who framed the constitution,
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