Presidents -- United States -- Biography; Washington, George, 1732-1799
Rives, in his "Life of Madison," intimates that Washington had doubts
even after signing, but of this there is no evidence of any weight. He
was not a man who indulged in doubts after he had made up his mind and
rendered a decision, and it was not in his nature to fret over what
had been done and was past, whether in war or peace. The story that he
was worried about his action in this instance arose from his delay in
signing, and from the disappointment of those who had hoped much
from his hesitation. This pause, however, was both natural and
characteristic. Washington had approved Morris's bank policy in the
Revolution, and remembered the service it rendered. He was familiar
with Hamilton's views on the subject, and knew that they were the
result of long study and careful thought. He must also have known that
any financial policy devised by his Secretary of the Treasury would
contain as an integral part a national bank. There can be no doubt
that both the plan for the bank and the report which embodied it were
submitted to him before they went in to Congress, but the violence of
the objections raised there on constitutional grounds awakened
his attention in a new direction. He saw at once the gravity of a
question, which involved not merely the incorporation of a bank,
but which opened up a new field of constitutional powers and
constitutional construction. When such far-reaching results were
involved he paused and reflected, and, as was always the case with him
under such circumstances, listened to and examined all the arguments
on both sides. This done he decided, and with his national feeling
he could not have decided otherwise than he did. The doctrine of the
implied powers of the Constitution was the greatest weapon possible
for those whose leading thought was to develop the union of States
into a great and imperial nation; and we may well believe that it was
this feeling, and not merely faith in the bank as a financial engine,
which led Washington to sign the bill. When he did so he assented to
the charter of a national bank, but he also assented to the doctrine
of the implied powers and gave to that far-reaching construction of
the Constitution the great weight of his name and character. It was,
perhaps, the most important single act of his presidency.
Public-domain text, read in full here on John Shaqi.
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