Abbildungen der Seite
PDF
EPUB

"The government of the Union, though limited, in its powers, is supreme within its sphere of ac

tion."

"It is of the very essence of supremacy to remove all obstacles to its action within its own sphere, and so to modify every power vested in subordinate governments, as to exempt its own operations from their influence."

Therefore, we may very properly add the consequent, it is competent for the government of the union, to remove all obstacles to its action, by so modifying the powers of the state governments, as to exempt its own operations, from their influence. If the postulates be admitted, this consequent is inevitable.

This result will hardly be contended for in explicit terms; it asserts a supremacy no where recognized in the constitution. The powers retained by the states, cannot be modified by the government of the union. To modify, is to change, or give a new shape, to the power modified; and if the government of the union can give a new char. acter to the powers reserved by the states, for the purpose of removing obstacles to their own power of action, there must soon be an end to the state governments. The government of the union asserts, an exclusive authority in itself to determine its own sphere of action. On this point it is as supreme, as upon any other. So soon as it has resolved that the exercise of any power appertains to it, that power assumes the character of supremacy,

[ocr errors]

and removes by modification, puts down before its march, every power previously supposed to be vested in the states, that may present any obstacle to its action. Thus the government of the union, may, and undoubtedly will progressively draw all the powers of government into the vortex of its own authority. Against these doctrines, the committee conceive, that it is the duty of the states to enter their most solemn protest.

The committee do not admit, that supremacy is an attribute, either of the government of the union, or of the state governments. Supremacy is an attribute of the people, and an attribute of the laws. In relation to the governments, the people are supreme,and the laws supreme over individuals. Government is but the medium through which the supreme power acts: the government of the union is the medium through which the American people act, upon particular subjects, that concern their interests and their welfare: the governments of the states are the medium, through which the same people act, upon other subjects, equally interesting and important to them; these two mediums of action, are only brought into collision by the usurpations of one or the other. Neither is invested with power to render its encroachments permanent, by a modification of the powers of the other. While moving within its proper limits, neither can present an obstacle to the action of the other both must proceed harmoniously. In respect to each other, neither is supreme, neither

:

subordinate. The government of the union, and the governments of the separate states, are alike the property and the agencies of the whole American people. This principle is the base and bond of the American Union.

The third proposition is," that a power to create, implies a power to preserve."

As applicable to the government of the union and the incorporation of the bank of the United States, this proposition, in the broad sense of its expression, is considered totally inadmissible.

The committee have already attempted to demonstrate, that the bank of the United States is a mere private corporation of trade. Their charter confers upon them neither political character, nor political power; it gives them corporate capacity, and nothing more. The provision that the bank may establish branches in the states and territories, when fairly construed, can only be regarded as giving corporate capacity to do so: and this is the only provision of the charter, that by any colorable interpretation, can be understood to vest them with a semblance of political power. The legal faculty and capacity conferred by the charter, if constitutionally created, are preserved in existence by the very law that originates them. They become private vested rights, and are preserved by the same universal law, that protects in dividual rights, and individual contracts.

But the trade and business of the bank and the franchises conferred to aid in carrying them on, are

(

[ocr errors]

separate and distinct matters. To lend money and drive a trade in bills of exchange, and gold and silver bullion, are not corporate franchises. These trades exist, independent of the charter, and may be pursued by individuals, without an act of incorporation. It is not the business itself, but the particular method of conducting it, that is created by the act of Congress, incorporating the bank of the United States.

Natural persons are clothed with an original, inherent capacity, to make contracts, and to acquire property. In a corporation, this capacity is artificial. In other respects, natural persons and corporations or legal persons, stand upon the same principles. The power of making contracts, enjoyed by individuals, is subject to the regulations of law; the property acquired by individuals is liable to taxation for the support of those laws, that originate and protect it; private corporations of trade, upon every maxim of justice and common sense,are subject to the same regulations and exactions.

The employments, professions, business and trade of natural persons may be taxed as such, and ' laws for this purpose, are not considered as violative of individual rights, or as incompatible with the existence and preservation of trade, business and employments. No just principle is perceived, upon which these laws should receive a different interpretation, in their application to the trade and business of a private corporation.

According to the definition of corporation heretofore given, the corporate franchises of the bank

of the United States, invest the stockholders with immortality and individuality, with a capacity to act like one immortal being, to perpetuate their existence; to manage their own affairs, to hold property, and transmit it from hand to hand as a natural person could. These franchises are con ferred by the government of the Union, to enable the company to conduct the business of lending money, and the trade in bills of exchange, and gold and silver bullion, with convenience and security; but the business and trade to be conducted, are not corporate franchises, and are not created by an act of congress. A tax assessed upon the business of the company, does not touch their corporate franchises, however it may affect their convenience or their profit. This power to preserve, as asserted by the court, and applied to the subject before them, is not asserted for maintaining and preserving the corporate franchises of the bank; but for the purpose of giving to these corporate franchises action and employment every where, independent of state laws, and beyond the control of state legislation. When fairly traced to its consequences, the doctrine asserted amounts to this; that a corporation created by the government of the Union is clothed with supreme authority, to conduct its business, without respect to the existing laws of the states and free from any apprehension of those that may be enacted.

A most serious objection to this doctrine, is, that it asserts the power to preserve, not as pertaining

« ZurückWeiter »