JAN. 18, 1832.] Colonel John Laurens. [SENATE. Mr. TAZEWELL said that the bill had frequently been before Congress, and different committees had reported unfavorably on the claim. He thought the bill ought not to pass. Mr. KANE explained the reasons which had induced the committee to report favorably in the present instance, and spoke at length in support of the bill. United States to furnish the Senate with the correspond-bill for the relief of the personal representatives of Coloence between the Executive of the United States and nel John Laurens, deceased. Great Britain on a public question. Now, what reason can be given for keeping this correspondence locked up in the archives of the Executive, while all the other facts relative to the treaty, together with the decision of the King of the Netherlands, have long since been laid before the nation? The protest of our minister at the Hague, and of the Government of Maine, against that decision, and the accordance of the Governor of Massachusetts with that protest, were also publicly known. He could, therefore, see no reason why the whole subject should not be brought to light, nor any impropriety in requesting the information required. If the President should think that there was any part of the correspondence that it was improper should meet the eye of the public, he might send it in a confidential manner. Mr. HOLMES observed that this bill was an old friend or rather an old acquaintance of that body, and inquired whether any new facts favorable to the claim had been adduced. He was not in favor of the bill. Mr. ROBBINS rose, and said, John Laurens, whose child and grandchild are before us with this claim, was one of those revolutionary patriots who devoted all his faculties and all his means to the cause of his country in that arduous He should object to the suggestion of the gentleman conflict, and who, to crown his merits, made a sacrifice from Tennessee to have the resolution laid on the table, of his life to that cause. Liberty has her martyrs, as well because, however they might differ in the manner in as religion; and he was one of them. This claim by his which the communication should be made, he conceived family is for expenses disbursed by him while on a special that it was highly important to obtain it, which would be foreign mission--a mission which he performed with exprevented by such a course. If the gentleman objected traordinary despatch, and with entire success. At a peto the form of the resolution, he was not opposed to hav-riod of great difficulty and distress, the then Congress ing it so modified as to be agreeable to the wishes of all, took him from the army, and sent him to France to solicit but he wished some other disposition to be made than to the means of relief; he prevailed, and obtained them. lay it on the table, which would be in effect giving it up From the time he left the army to go on this mission, to altogether. the time he resumed his command in the army, after having successfully performed his mission, was less than nine months. Mr. EWING hoped the Senator from Tennessee would withdraw his motion. He [Mr. E.] had, on examining into the subject of the Northeastern boundary question, met with many serious difficulties, arising from the want of sufficient information, for which he would have found it necessary himself to apply, had he not been anticipated by the resolution of the gentleman from Maine. The reimbursement of these expenses is claimed on the ground of such then being the settled usage of the Government. That usage was to allow and pay our foreign ministers a sum certain as a salary; and, besides, to allow and pay their expenses. The records of all our Mr. CLAY was inclined to think, from the general re- foreign missions at that time will show this to have been collection he possessed, not only of that portion of the the settled usage. It was done in the case of Dr. Franksubject embraced in the first resolution, relating to a se-lin, in the case of Mr. Jay, the case of the elder Adams, lection of an arbiter under the convention, but of that and so of every other foreign minister, down to the time portion of it contained in the second resolution, relating when an outfit was allowed in lieu of the allowance of to the arrangement mentioned in the letter of the Secre-expenses. This is the solitary instance in which it has tary of State for preserving a status quo until a final set- not been done; and how it has happened in this instance, tlement, that no part of them were of such a nature as to I will directly endeavor to explain. But, independently render their publication injurious to the country. If, of this, I consider this reimbursement to have been guahowever, there were any doubts whether the President or rantied by an express resolution of Congress taken in this Secretary of State would consider a publication at this very case. The resolution is in these words: time inexpedient, as suggested by the gentleman from Tennessee, he would advise a postponement for a few days, until a conference could be had with them. "Resolved, That in settling the accounts of the late Lieutenant Colonel Laurens, as special minister to the court of Versailles, he be allowed the same pay that was given at that period to the minister plenipotentiary of the United States at foreign courts, from his appointment to that embassy until his return." Mr. GRUNDY said he had no sort of objection to any course that might be most agreeable to those interested in the resolution, for it was not a matter of any particular interest, either to himself or to those he represented; his Now, said Mr. R., what was that pay? It was, as I have only fear had been, that by calling for information under the before stated, a sum certain as a salary, and, in addition circumstances he had before adverted to, something might thereto, the amount of his expenses. It may seem strange be done that would become the subject of after regret. that, in stating the account in this case, the treasury should As the mover thought no difficulties could arise from the have omitted, as it did, to credit these expenses; a credit publicity of the affair, he would not oppose the resolution, so manifestly required both by settled usage and express but he still thought the most advisable course would be authority. A review of the circumstances will account for the Senate to obtain the desired information in execu- for this omission. Let it be recollected that Colonel Lautive session, and then lay it before the public, if no objec-rens himself never called for pay, either as a soldier or tions were found to so doing. as a minister. He had some resources of his own; he had Mr. CLAY suggested to the Senator from Maine to larger in the liberality of his opulent father; on these he modify the resolution, in accordance with the views of drew. Such was the cast of his mind, that pecuniary the Senator from Tennessee, so as to request the Presi-matters were beneath his thoughts-he thought only, as dent, at his option, to send the information either to the he lived only, for his country and for glory. On his return open or secret session of the Senate. from France, his only petition to Congress was, to be Mr. SPRAGUE then amended both resolutions in con-permitted to return to his command in the army. He did formity with the suggestions of Mr. CLAY, and they were return; and soon after, in the affair at Yorktown, acted adopted. the distinguished part which history has noticed. thence repaired to the standard of General Greene, and engaged in the battles of the Southern war. There the The Senate then proceeded to the consideration of the gallantry of his spirit laid his body in the dust-there COLONEL JOHN LAURENS. He SENATE.] Colonel John Laurens. [JAN. 18, 1832. terminated the short but brilliant career of the heroic carried out, nor reckoned, in reckoning up the credits. Laurens. At this time, his only child was an infant, in a The report then makes the gross sum-the amount of the foreign land, and doubly an orphan, the mother having expenses, together with the amount of these errors— previously deceased. His father, the venerable Henry $7,542 41. Laurens, was a prisoner in the Tower of London. Then This report puts the claim upon the common footing of there was no one to exhibit and solicit the claim of the debts then due from the United States, and provides for it unfortunate orphan. On the return of the father, after accordingly; allowing the same interest that was paid to his captivity, and after performing his illustrious share in the other public creditors, neither more nor less. It the great peace-mission to France, among his son's papers appears to me that this principle is the principle which he found not a scrap of any account either against or with ought to govern in this case. These expenses, paid by the Government. He knew not how his affairs stood with Colonel Laurens, were paid for the United States; and the Government, whether as final debtor or creditor; he they were as substantially a loan to the United States, as only knew that he had made him large advances. In this if the money had been paid into the treasury of the United situation, he preferred a memorial to Congress upon the States, and a loan office certificate had been taken theresubject-not making any claim, but referring the case to for. He was to all intents and purposes a public creditor that body, to be disposed of according to their own sense to that amount; and to pay interest to the other public of justice. The memorial was committed; the committee creditors, and to refuse it to him, would be an act, as it reported; and the resolution which I have before recited, appears to me, of gross partiality; would be an outrage was adopted upon the report. The resolution, we have upon every sentiment of equal justice—and, I may add, seen, established the principle by which the settlement of of national justice, too; for these very expenses, so far as the case was to be made, and which principle embraced they were advances made by his father, (and they mostly this claim. This was in 1784. The Government not were such,) became a debt on interest against him, and being in funds, nothing more was done in the case till the amount, both principal and interest, have been de1790, when the new Government began the work of ducted from the portion of his daughter. Colonel Lauliquidating and providing for the claims of the public rens then loaned this money to the United States, for creditors. Then the statement of the account in this case which he paid interest; he asks a return of that loan, not was made. The expenses of this mission were not credited, with the same interest, but with a less interest, much less. because no account of them, owing to the circumstances I say he--but I mean his orphan child, who speaks in his which I have detailed, had been furnished to the Govern- name. Were he living, and now here, I think it probable ment. The statement was made upon the evidence as it he would not speak-he was too magnanimous--too careexisted in the Treasury Department; it did not embrace a less of every thing but virtuous fame, and too much credit for these expenses, because as to them the treasury absorbed in that pursuit; and building fame, as he did, on had no evidence. It is apparent that Henry Laurens, the services and sacrifices to his country, I think it probable father, was under the mistake that the expenses could not that if his country did not think of this debt to him, he be claimed, because among his son's papers he found no would never speak to put her in mind of it; but, like his account, no charge of them against the Government. I brother in arms and compatriot, Hamilton, he would place say it is apparent, because, though he complained of the this claim upon the justice of his country, as a resource statement as made by the treasury, he did not complain of for them for whom nature had bound him to provide. It it on this ground. And in his memorial, before referred is pleasing to reflect that the distinguished and disinterestto, he states that he did not know whether his son meant ed patriot, in this country at least, has this resource, and to make any claim. But surely this mistake, as it does not may look to it with confidence-of which the proofs are affect the justice, so it ought not to affect the validity of many and illustrious. I hope this case may furnish another. this claim. The Government owes it to itself, it owes it to its own honor, not to profit by this mistake; especially to the prejudice of an orphan, and more especially to the orphan of such a parent. There are many circumstances in this case, which might be alluded to, recommending this claim to favor, but, perhaps, addressing themselves to our feelings rather than to our reason; these, I therefore omit, and content myself with stating and explaining, as I have done, those grounds only which appear to me to establish the justice of the claim, and which will control my vote. The amount of these expenses, at least the amount reported, was $7,335 86. This report and the report of the last session agree in this. The data on which this conclusion is founded, seem to me entirely satisfactory. Mr. KANE, in answer to the gentleman from Virginia, The whole of this amount he received, while in France, went into a full explanation of the grounds on which the on this mission, by drafts from his father, and by an order claim rested, and maintained that it was clearly shown from Doctor Franklin, except a small sum he received from the acts of Congress, that the present claim was from the superintendent of finance, Robert Morris, in justly due, and that it had never been paid; explained the Boston, on his arrival there from his mission--a small sum, reasons why it had been delayed till the present dayto enable him to return to his command in the army. It which delay he considered no sufficient reason why justice will be found that any reasonable estimate of the necessary should not finally be awarded in the same manner as it disbursements for himself and suite will carry the amount had been to other public ministers at the same period. at least to that sum. And, collated with the expenses in other parallel cases, the same conclusion will result. On embarking for France, he must have taken funds with him, which were all exhausted, but of which no notice is taken in the estimate reported. We may be sure, then, that this sum falls within the limits of his actual expenses, at least that it does not transcend them. Mr. HAYNE answered some of the objections of those opposed to the claim, and explained the reason why the former committee, to which it had been referred, had reported favorably, and why the Senate were almost unanimous against the report. It was not because they doubted the justice of the claim, but because they differed with the committee in the amount justly due. Mr. H. went There is another claim, but to a small amount, growing into an earnest argument in favor of the claim, and of the out of errors in the account as stated by the treasury. distinguished services and magnanimity of Colonel LauThese errors are apparent to inspection on the face of rens, whom he represented to have sacrificed not only his the account. One is an item to which the scale of depre- fortune, but his life, in the defence of his country, at a ciation was applied, when that item was a special credit period when, of all others, those sacrifices and patriotic due from the United States. The amount of this error services were most needed. It was from the very circumis $101 85. The other is an item of credit in the ac- stance of his patriotic and disinterested devotedness to the count, amounting to $104 70, but which amount is not cause which he had embraced, that the claim was yet JAN. 19, 20, 1832.] Bank of the United States. [SENATE. unpaid; for Colonel Laurens had, in his zeal for liberty,poration, to examine into the regularity of its proceedings, refused to demand the payment for his services, and fell and to take cognizance of the infractions of its charter; and a sacrifice to that cause, without leaving a claim upon the this right has become a duty, since the very tribunal seGovernment, or even a statement of his expenditures. lected by the charter to try these infractions had tried The question therefore now was, whether Congress this very question, and that without the formality of a should refuse justice to an orphan child, because the scire facias, or the presence of the adverse party, and had father had too much magnanimity to demand it. He trust-given judgment in favor of the corporation; a decision which he [Mr. B.] was compelled, by the strongest convictions of his judgment, to consider both as extra-judicial ed not. At the suggestion of Mr. EWING, the bill was then laid on the table for the present. THURSDAY, JANUARY 19. Soon after meeting, the Senate went into executive business, and remained with closed doors until 4 o'clock; and then adjourned. FRIDAY, JANUARY 20. and erroneous. The resolution, continued Mr. B., which I am asking leave to bring in, expresses its own object. It declares It is against the legality of these orders, AS A CURRENCY. will not embarrass my subject with irrelevant and immathe currency which I arraign. I make no inquiry, for I terial inquiries-I make no inquiry into the modes of contract and payment which are permitted, or not permitted, to the Bank of the United States, in the conduct of its private dealings and individual transactions. My business Mr. BENTON rose to ask leave to introduce the follow-lies with the currency; for, between public currency and ing resolution, of which he had given notice some days private dealings, the charter of the bank has made a distinction, and that founded in the nature of things, as broad ▲ joint resolution declaratory of the meaning of the char-as lines can draw, and as clear as words can express. ter of the Bank of the United States on the subject of the paper currency to be issued by the bank. ago, viz. BANK OF THE UNITED STATES. The currency concerns the public; and the soundness of that currency is taken under the particular guardianship of the charter; a special code of law is enacted for it: priBe it resolved by the Senate and House of Representatives vate dealings concern individuals; and it is for individuals, of the United States of America in Congress assembled, That in making their bargains, to take care of their own intethe paper currency, in the form of orders, drawn by the rests. The charter of the Bank of the United States has presidents of the offices of discount and deposite on the authorized, but not regulated, certain private dealings of cashier of the Bank of the United States, is not authorized the bank; it is full and explicit upon the regulation of curby any thing contained in the charter, and that the said rency. Upon this distinction I take my stand. I establish currency is, and is hereby declared to be, illegal; and that the same ought to be suppressed. myself upon the broad and clear distinction which reason makes, and the charter sanctions. I arraign the currenMr. BENTON rose to ask leave to bring in his promis- cy! I eschew all inquiry into the modes of making bared resolution on the state of the currency. He said he gains for the sale or purchase of bills of exchange, buying had given his notice for the leave he was about to ask, and selling gold or silver bullion, Building houses, hiring without concerting or consulting with any member of the officers, clerks, and servants, purchasing necessaries, or Senate. The object of his resolution was judicial, not laying in supplies of fuel and stationery. political; and he had treated the Senators, not as counsel- A preliminary inquiry might have been resorted to, and lors, but as judges. He had conversed with no one, nei-was for some time intended, to know from the bank directher friend nor adversary; not through contempt of coun- tory whether these orders were issued as a currency unsel, or fear of opposition, but from a just and rigorous re-der the charter, and what exemptions were claimed for gard to decorum and propriety. His own opinion had them from the restrictions provided in the charter, for a been made up through the cold, unadulterated process of currency of promissory notes. But this preliminary inlegal research; and he had done nothing, and would do quiry has become unnecessary. A decision has been made nothing, to prevent, or hinder, any other Senator from in a high branch of the federal judiciary--the United making up his opinion in the same way. It was a case in States' circuit court in Philadelphia--affirming the legality which politics, especially partisan politics, could find no of this species of currency, and stating the exemptions place; and in the progress of which every Senator would claimed for it; and this decision has been received with a feel himself retiring into the judicial office-becoming one degree of approbation by the bank directory, which anof the judices selecti--and searching into the stores of nounces it to be accordant with their own opinions. Inhis own legal knowledge, for the judgment and the rea-quiry of the directory is, therefore, unnecessary. A resons of the judgment which he must give in this great sort to the opinion of the court, and that opinion has been cause, in which a nation is the party on one side, and a authoritatively published, may be considered as the answer great moneyed corporation on the other. He [Mr. B.] be- of the bank, and, what is far more material, as the law of lieved the currency, against which his resolution was the land until reversed. directed, to be illegal and dangerous; and so believing, Here is the opinion, that part of it which relates to it had long been his determination to bring the question of these orders as a currency; for I omit all that relates to its legality before the Senate and the people; and that the trial of the prisoner for the counterfeiting one of these without regard to the powerful resentment, to the effects orders: of which he might be exposing himself. He had adopted "The only restriction on the issuing of any paper is in the form of a declaratory resolution, because it was in-the proviso to the 12th fundamental article in the 11th tended to declare the true sense of the charter upon a section of the charter. The bank can make no bill oblidisputed point. He made his resolution joint in its cha-gatory, or of credit, under its seal, for the payment of a racter, that it might have the action of both Houses of Con- less sum than five thousand dollars; the bills or notes gress, and single in its object, that the main design might issued by order of the corporation, signed by the presinot be embarrassed with minor propositions. The form of dent and cashier, are made as binding and obligatory on the resolution gave him a right to state his reasons for ask- the bank as those of private persons, but all their bills ing leave to bring it in; the importance of it required and notes must be payable on demand, unless of a sum those reasons to be clearly stated. The Senate, also, has not less than one hundred dollars, and payable to order; its rights and its duties. It is the right of the Senate and none of these restraints apply to an order or check; the House of Representatives, as the founder of the bank cor- notes or bills alluded to are such as contain a promise to VOL. VIII.-8 Bank of the United States. pay money, and the bills obligatory are such only as are under seal, and for sums not less than five thousand 'dollars. "The bank is left free to contract debts by any other mode than by their promissory note or an obligation under seal, with no other limitation than is contained in the 8th fundamental article, which is merely as to amount, 'the only effect of which is not to exempt the bank from liability for the excesses, but to make the directors, under whose administration it shall happen, personally 'liable. [JAN. 20, 1832. in these particulars, the notes of the bank, is immaterial; their substance and legal effect are the same; they create a new debt or duty, obligatory on the bank. It is bound 'to honor all the paper which it issues or gets into circulation by its authority or agents." After reading the extracts, Mr. B. continued. I take the substance of this decision, Mr. President, to be1. That these branch bank orders are legal currency, under the charter of the Bank of the United States. 2. That the bank may lawfully issue this description of currency to the whole amount of its capital stock. 3. That this currency is free from every regulation, restriction, limitation, and provision, contained in the charter, except the single limitation as to the maximum amount to be issued, to wit, thirty-five millions of dollars. 4. That the bank may employ what agents she pleases in signing and issuing this currency. "The act of establishing a branch is, per se, the crcation of an agency; it is an authority not only to the extent ' of the regulations under which the agent acts, but to the extent of all acts and transactions of the officers of the 'branches, which the bank have been in the habit of I take this to be the substance of the decision. Justice adopting and confirming, on the same principle that in- to that decision, and the fair conducting of my own argu'dividuals are liable on the contracts of their wives and ment, will require me to examine the grounds upon which 'servants, who have been permitted to deal on their credit, the court proceeded. These grounds are found in two and in their names; or a merchant, whose clerk is in the clauses of the charter; one clause in the 18th section; the habit of writing letters, signing notes, bills, and checks, other in the 8th fundamental article of the constitution of in his name, though without any written or express au- the bank. The penal clause in the 18th section against thority, by the adoption and recognition of which he counterfeiting "checks or orders," and the phrase "other authorizes the public to consider his clerk as his agent, contract," in the 8th fundamental article, comprise those authorized to do in future what he has been in the habit grounds. I will examine each in its turn; but must first of doing with his knowledge and assent. It would be make a stand in the name of all that is safe and sure in the strange indeed that the bank should not be liable for administration of law, protesting, as I do hereby protest, 'checks or orders, drawn by its agents, at their own branches, against going into a penal section, or into the construction which not only form a very important item in the curren- of a phrase, to find a power to issue currency, and that cy of the country and the operation of the branches, but without restrictions, when the charter had given that power which the bank have, for years, daily ratified and sanc- in the proper place in express words, and subject to nutioned by their payment: the uniform course of business merous and vital restrictions. I make this protest, not 'transacted between the bank and its branches furnishes from the least apprehension of finding in a penal clause, such a strong legal inference and presumption of its being or in the construction of a detached phrase, the great power authorized by the regulations under which they have been for the exercise of which the bank was created, that of isestablished, that the burden of proof to the contrary is suing a paper currency to the people of these States, but clearly thrown on the bank, or any other person who as an act of justice to the constitution of the bank, to its ⚫ would attempt to show that the paper was not obligatory cautious prohibitory preamble, and to its seventeen fundaupon them. It would be a severe reflection on the bank mental articles. I make it in the name and upon the to suppose that they would for a moment refuse payment behalf of the lawful rights of other parts of the charter. of these checks and orders; and our system of jurispru- Let us now proceed to the examination; and, first, let us dence would deserve little of public respect or confi- read this 18th section, the whole of it, as the only fair way dence, if the law would not coerce it. to find its meaning. * "SEC. 18. If any person shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged, or counterfeited, or willingly aid or assist in falsely mak'ing, forging, or counterfeiting, any bill or note in imitation of, or purporting to be a bill or note ISSUED BY ORDER of the president, directors, and company of the said bank, on any "By the 17th article, the bank is bound to pay in gold and silver all its notes, bills, and obligations, and all deposites in the bank or its offices; and the proviso enacts, that Congress may enforce and regulate the payment of other debts under the same penalties as are prescribed for the refusal to pay its notes, bills, obligations, and de-order or check on the said bank or corporation, or any cash'posites. 4 6 ier thereof; or shall falsely utter, or cause or procure to be falsely uttered, or willingly aid or assist in falsely alter"The mode in which the bank contracts a debt, the ing, any bill or note 1SSUED BY ORDER of the president, dishape it assumes, or the places where contracted, is of rectors, and company of the said bank, on any order or check no importance. The offices being its agents, the debts on the said Bank, or corporation, or any cashier thereof; contracted by them become the debts of the corpora- or shall pass, utter, or publish, as true, any false, forged, tion, imposing a duty to pay them, which may be done at or counterfeited bill or note purporting to be a bill or note or by the branches or the bank. If the payment is made ISSUED BY ORDER of the president, directors, and company of in coin, the debt is extinguished; if made by a draft, or- the said bank, on any false, forged, or counterfeited order der, or check, the debt remains until they are actually or check UPON the said bank or corporation, or any cashier paid. Unless the holder expressly takes them as pay-thereof, knowing the same to be falsely forged or counment, and at his own risk, they create a new duty or 'terfeited; or shall pass, utter, or publish, or attempt to obligation, which the bank is as much bound to perform pass, utter, or publish, as true, any falsely altered bill or as the old one for which it is intended to make satisfac-note ISSUED BY ORDER of the president, directors, and com⚫tion. It is a matter of mutual convenience, whether the 'old debt or duty shall be extinguished by payment or taking paper, whether in their promissory notes of the bank, or orders or checks drawn upon it. They may be in large drafts or orders for remittance, or small ones for currency or circulation, and in any form, with or without ornaments, devices, or marks. Whether they resemble, pany of the said bank, or any falsely altered order or [SENATE. 'directors of the said bank, knowing the same to be false, If any person shall make or engrave, or cause or pro'forged, or counterfeited, every such person shall be cure to be made or engraved, or shall have in his pos'deemed and adjudged guilty of felony, and being there-session or custody, any metallic plate, engraved after "of convicted by due course of law, shall be sentenced," '&c. use such blanks, or cause or suffer the same to be used, in forging or counterfeiting any of the notes or bills issued by the said corporation; OR shall have in his custody or possession any paper adapted to the making of bank notes or bills, and similar to the paper upon which any notes or bills of the said corporation shall have been issued, with intent to use such paper, or cause or suffer the same to be used, in forging or counterfeiting any of the notes or bills issued 'by the said corporation, every such person, being thereof convicted by due course of law, shall be sentenced, "&c." 'the similitude of any plate from which any notes or bills 'issued by the said corporation shall have been' printed, I do deny, Mr. President, that any power, of any kind, with intent to use such plate, or to cause or procure the is given to the bank by this section. It is a mere provi- same to be used, in forging or counterfeiting any of the sion to punish the violation of existing rights. So far as 'notes or bills issued by the said corporation; OR shall have the issues of bills or notes are mentioned, it is a recital of in his custody or possession any BLANK note or notes, bill what the bank was authorized to do in the 12th funda-or bills, engraved and printed after the similitude of any mental article of its constitution; so far as checks and or-notes or bills issued by the said coporation, with intent to ders are mentioned, it is a recital of the pre-existing right which every depositor possesses. The object of the section is to provide for the security of existing rights; namely, the chartered right of the bank to issue bills or notes, and the inherent right of depositors to draw for their own money. This is the object of the section; and the violation of either of these rights is made felony. Both rights are protected, but they are not granted; neither are they confounded. The distinction is clear between them, between the currency which is to issue from the bank, and the orders which are to be drawn upon it. The separation is complete, the contrast is perfect, the antithesis is What fatuity, or unkindness, in the framers of this charregular, the contradistinction is manifest, between these ter! What inattention to this constructive currency, creattwo classes of paper. The whole frame of the section, ed in the 18th section, and abandoned in the 19th! Eight the structure of every member of the long sentence which times the bills or notes, issued by order of the bank, are composes it, the natural and obvious meaning of every named and protected. Eight times the checks and orders word in every sentence, establishes and defends this clear are passed over without a word. No protection for them and emphatic distinction. Five times in five different against the process of being counterfeited. The plates, members of the sentence, the same form of expression, the blanks, the paper, for their imitation, may be paraded the same order of construction, and the same repetition in the face of the world. The whole process may be of words, regularly occur. Five times the line is drawn, carried on in the face of the bank; and no legal authority the distinction is set up, between the bills or notes which to interrupt the forgers, to seize their unfinished work, are to be issued by order of the bank, and the checks or to arrest their persons. Can any thing be more emand orders which are to be drawn upon it. The two phatic of the sense of the Congress which framed the classes of paper are kept distinct, and cannot be con- charter? Could words be more expressive than this sifounded. Let any gentleman try. Let him include, if he lence? Could a positive declaration fix these checks and can, the words "checks and orders" under the action of orders more completely in the class of those private writthe verb which governs the issuing of the bills or notes of ings which have no peculiar plates, no blanks, no pecuthe bank. The thing cannot be done. It is a grammati- liar paper? cites, and that for the purpose of limitation, the powers which are elsewhere expressly granted. To crown this error, the court has again had recourse to construction, and has given an import and meaning to the phrase "other contract," which it cannot be made to endure, either in common parlance, nor in legal acceptation, nor without reducing the rest of the charter to a blank. We will read the article. cal impossibility. I repeat it, the clear, undoubted object The second ground on which the court relied, is the of the section is, not to grant powers, but to protect rights.phrase, "other contract," as used in the 8th fundamental Its object is penal, not concessive; to punish, not to grant. article of the constitution of the bank. In resorting to This is my view, Mr. President, of the 18th section. this phrase, the court has at least got into the right chapDoes any gentleman doubt the correctness of that view? ter, but missed the verse; it has got into the constitution; Then let him follow me into the next section--the 19th- it has got among the seventeen articles; but it has not got still occupied with the crime of counterfeiting, and taking to the article which grants powers, but the one which reup the inchoate class of offences involved in the process of perpetrating the crime. The authorized currency of all banks, in all countries, is protected from the process, from the progressive course, of being counterfeited, as well as from the consummation of the crime itself; but this protection is never extended to private and individual papers. A man is punished for having in his possession, with intent to use it unlawfully, the plate from which bank notes are struck, the notes themselves in blank, and even "The total amount of debts which the said corporathe kind of paper which is used for bank notes. Not sotion shall at any time owe, whether by bond, bill, note, or in the case of private or individual writings. The reason other contract, over and above the debt or debts due is obvious. Banks have peculiar plates and paper for for money deposited in the bank, shall not exceed the their notes which are to constitute currency; neither in-sum of 35,000,000 dollars, unless the contracting of any dividuals, nor banks, have any thing peculiar for their greater debt shall have been previously authorized by the private and individual writings. The plate and paper with United States. In case of excess, the directors under which a bank note is to be counterfeited, can be known whose administration it shall happen shall be liable for and identified as such; the goose quill pen, the common the same in their natural and private capacities; and an types, and the common writing paper, which are used for action of debt may, in such case, be brought against all the ordinary transactions of life, cannot be known or 'them or any of them, them or any of their heirs, exeidentified. Upon this distinction turns all the law upon cutors, or administrators, in any court of record in the the subject of punishing the inchoate offence of counter- United States or either of them, by any creditor or feiting; upon this distinction turns the 19th section of the creditors of the said corporation, and may be prosecuted charter; upon this distinction it is that the currency of the to judgment and execution, any condition, covenant, bank, its bills or notes, are protected from the process of contract, or agreement, to the contrary notwithstandbeing counterfeited, and the orders and checks of deposi-ing. But this provision shall not be construed to exempt tors are unnoticed. Listen to the section. 'the said corporation, or the lands, tenements, goods, or |