Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850Benton, Thomas Hart
History
Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850
Benton, Thomas Hart
United States -- Politics and government -- 1815-1861
On the 19th day of January, in the year 1836, a bill was reported
in the House of Representatives of the General Assembly of
Pennsylvania, entitled, "_An act to repeal the State tax, and to
continue the improvement of the State by railroads and canals;
and for other purposes_." It came from the standing committee on
"_Inland navigation and internal improvement_;" and was, in fact,
a bill to repeal a tax and make roads and canals, but which,
under the vague and usually unimportant generality of "_other
purposes_," contained the entire draught of a charter for the
Bank of the United States--adopting it as a Pennsylvania State
bank. The introduction of the bill, with this addendum, colossal
tail to it, was a surprise upon the House. No petition had asked
for such a bank: no motion had been made in relation to it: no
inquiry had been sent to any committee: no notice of any kind
had heralded its approach: no resolve authorized its report: the
unimportant clause of "_other purposes_," hung on at the end of
the title, could excite no suspicion of the enormous measures
which lurked under its unpretentious phraseology. Its advent was
an apparition: its entrance an intrusion. Some members looked at
each other in amazement. But it was soon evident that it was the
minority only that was mystified--that a majority of the elected
members in the House, and a cluster of exotics in the lobbies,
perfectly understood the intrusive movement:--in brief, it had been
smuggled into the House, and a power was present to protect it
there. This was the first intimation that had reached the General
Assembly, the people of Pennsylvania, or the people of the United
States, that the Bank of the United States was transmigrating!
changing itself from a national to a local institution--from a
federal to a State charter--from an imperial to a provincial
institution--retaining all the while its body and essence, its
nature and attributes, its name and local habitation. It was a new
species of metempsychosis, heretofore confined to souls separated
from bodies, but now appearing in a body that never had a soul: for
that, according to Sir Edward Coke, is the psychological condition
of a corporation--and, above all, of a moneyed corporation.
Public-domain text, read in full here on John Shaqi.
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