In his message of December 3, 1816, President Madison, referring expressly to a _bank_ and _paper_ medium, said: 'It is essential that the nation should possess a currency of equal value, credit, and use, wherever it may circulate. The Constitution has entrusted Congress _exclusively_ with the power of _creating_ and _regulating_ a currency of that description.' This rebellion proves the awful danger of State violations of the Federal Constitution. The rebellion is the child of State usurpation, State supremacy, State allegiance, and State secession. And now the Government is paralyzed financially, in its efforts to suppress the rebellion, by a question as to State banks, depreciating the currency, and State banks based on State stocks. The Government wishes a currency, not redundant, and to borrow money to save the Union. But one State says, we have placed all our surplus money in State banks, and another State (as in the case of New York) says, we have based the circulation of these banks, mainly on our own State bonds, and you must do nothing which will injuriously affect their value. It is true the Union is in danger, but are not the credit of State banks and State bonds of higher value than the Union? The State first, the Union afterwards. Our paramount duty is to our State, and that to the Union is subordinate. Why, this is the very language of rebellion--the echo of South Carolina treason. But it is not the language of the Constitution, which declares that "This Constitution, and the laws of the United States which shall be made in pursuance thereof, and all treaties made, or which shall be made, under the authority of the United States, shall be the supreme law of the land: and the judges in every State shall be bound thereby, anything in the Constitution or laws of any State to the contrary notwithstanding." The _supremacy_ then, is with the Federal Constitution and laws; otherwise there could be no uniformity or nationality. And does New York suppose that she can tear down the temple of the Union, and that the principal pillar which supported the arch will stand firm and erect? No! if the Union falls, New York will only be the most conspicuous among the broken columns.