Mr. KEY said, all the respective representatives of the people, of the states at large, and the sovereignty in a political capacity of each state, must concur to enact a law. An honorable gentleman from Tennessee (Mr. Campbell) admitted that the power to repeal must be coextensive with the power to make. If this be admitted, I will not fail to convince you that, in the manner in which this law is worded, we cannot constitutionally assent to it. What does it propose? To give the President of the United States power to repeal an existing law now in force:—upon what? Upon the happening of certain contingencies in Europe? No. But in those contingencies which they suppose in his judgment shall render it safe to repeal the law, a discretion is committed to him—upon the happening of those events—to suspend the law. It is that discretion to which I object. I do not say it will be improperly placed at all; but the power and discretion to judge of the safety of the United States, is a power legislative in its nature and effects, and as such, under the Constitution, cannot be exercised by one branch of the legislature. I pray gentlemen to note this distinction, that whenever the events happen, if the President exercise his judgment upon those events, and suspend the law, it is the exercise of a legislative power: the people, by the Constitution of the country, never meant to confide to any one man the power of legislating for it.
Renewal of the Charter of the United States Bank.
Mr. LOVE. The question of the constitutionality of the bank solely depends on the question, whether it is necessary and proper for conducting the moneyed operations of government. So great a change has taken place on that subject within twenty years past, that it is supposed the question is now settled. Not only the moneyed transactions of the United States, but, it is believed, of all the state governments, are carried on through the state banks, as well as commercial transactions, and other moneyed negotiations.
Mr. TROUP said, gentlemen might pass the bill but for the constitutional question. If they did pass it, he hoped they would not permit themselves to become the retailing hucksters of the community, for the sale of bank charters. There is a power in the Constitution to sell the public property; but there is certainly no power to sell privileges of any kind. I, therefore, move to strike out the bribe, the douceur, the bonus as gentlemen call it, of 1,250,000 dollars.
Mr. KEY said, to him it clearly appeared within the power and limit of the Constitution to establish a bank, if necessary, for the collection of the revenue.
Mr. TROUP observed, that some gentlemen had said that the power to incorporate a bank was derived from the power to lay and collect revenue; and that the power ought to be exercised, because banks give a facility to the collection of the revenue. If the power be exercised, it must be necessary and proper. If it be necessary to the collection of the revenue, the revenue cannot be collected without it. The gentleman from Maryland might say a bank institution was useful. He might say it would give facility to the collection of the revenue; but facility and necessity are wholly different, and the Constitution says that a power, to be incidental, must be necessary and proper.
Mr. ALSTON. In the 10th article, 1st section, of the Constitution, it
