Letter of James Garland to His Constituents
Letter of James Garland to His Constituents
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It cer- tainly appeared to him, that one moment's reflection would decide gentlemen against the amendment proposed by his friend from South Carolina. It had been said, for- merly, and on various occasions, that the States had no right to grant bank charters, and that the banking privilege belonged exclusively to the Federal Government. No direct attempt, however, had hitherto been made to deprive the States of that power which they had long exercised unmolested. B^d noio the attempt xoas to he ...made, if not in an open and unequivocal nvanner, at least, in an indirect way, to strip the States of the power of chartering banks. At any rate, if it were contended that this provision did not go so far, it could not be denied that it interfered in the regula- tion which State Governments might have adopted for the government of those insti- tutions, which was an odious exercise of power not granted by the Constitution. — This amendment has this extent : It directs the States as to the manner in which they shall exercise their sovereignty in this particular, points out what penalty shall be in- flicted in case the charters granted by the States are violated.
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To quickly assess the difficulty of the text, read a short excerpt:
It cer- tainly appeared to him, that one moment's reflection would decide gentlemen against the amendment proposed by his friend from South Carolina. It had been said, for- merly, and on various occasions, that the States had no right to grant bank charters, and that the banking privilege belonged exclusively to the Federal Government. No direct attempt, however, had hitherto been made to deprive the States of that power which they had long exercised unmolested. B^d noio the attempt xoas to he ...made, if not in an open and unequivocal nvanner, at least, in an indirect way, to strip the States of the power of chartering banks. At any rate, if it were contended that this provision did not go so far, it could not be denied that it interfered in the regula- tion which State Governments might have adopted for the government of those insti- tutions, which was an odious exercise of power not granted by the Constitution. — This amendment has this extent : It directs the States as to the manner in which they shall exercise their sovereignty in this particular, points out what penalty shall be in- flicted in case the charters granted by the States are violated.
What to read after Letter of James Garland to His Constituents?
You can find similar books in the "Read Also" column, or choose other free books by James Garland to read onlineMoreLess
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