Though his resolution embraces nothing in regard to the constitutionality of the Bank, much of what he has said has been with a view to make the impression that it was unconstitutional in its inception. Now, although I am satisfied that an ample field may be found within the pale of the resolution, at least for small game, yet, as the gentleman has traveled out of it, I feel that I may, with all due humility, venture to follow him.
The gentleman has discovered that some gentleman at Washington city has been upon the very eve of deciding our Bank unconstitutional, and that he would probably have completed his very authentic decision, had not some one of the Bank officers placed his hand upon his mouth, and begged him to withhold it.
The fact that the individuals composing our Supreme Court have, in an official capacity, decided in favor of the constitutionality of the Bank, would, in my mind, seem a sufficient answer to this. It is a fact known to all, that the members of the Supreme Court, together with the Governor, form a Council of Revision, and that this Council approved this Bank charter. I ask, then, if the extra-judicial decision not quite but almost made by the gentleman at Washington, before whom, by the way, the question of the constitutionality of our Bank never has, nor never can come--is to be taken as paramount to a decision officially made by that tribunal, by which, and which alone, the constitutionality of the Bank can ever be settled?
But, aside from this view of the subject, I would ask, if the committee which this resolution proposes to appoint are to examine into the Constitutionality of the Bank? Are they to be clothed with power to send for persons and papers, for this object? And after they have found the bank to be unconstitutional, and decided it so, how are they to enforce their decision? What will their decision amount to? They cannot compel the Bank to cease operations, or to change the course of its operations. What good, then, can their labors result in?
Certainly none.
The gentleman asks, if we, without an examination, shall, by giving the State deposits to the Bank, and by taking the stock reserved for the State, legalize its former misconduct. Now I do not pretend to possess sufficient legal knowledge to decide whether a legislative enactment proposing to, and accepting from, the Bank, certain terms, would have the effect to legalize or wipe out its former errors, or not; but I can assure the gentleman, if such should be the effect, he has already got behind the settlement of accounts; for it is well known to all, that the Legislature, at its last session, passed a supplemental Bank charter, which the Bank has since accepted, and which, according to his doctrine, has legalized all the alleged violations of its original charter in the distribution of its stock.
I now proceed to the resolution. By examination it will be found that the first thirty-three lines, being precisely one third of the whole, relate exclusively to the distribution of the stock by the commissioners appointed by the State. Now, Sir, it is clear that no question can arise on this portion of the resolution, except a question between capitalists in regard to the ownership of stock. Some gentlemen have their stock in their hands, while others, who have more money than they know what to do with, want it; and this, and this alone, is the question, to settle which we are called on to squander thousands of the people's money. What interest, let me ask, have the people in the settlement of this question? What difference is it to them whether the stock is owned by Judge Smith or Sam Wiggins? If any gentleman be entitled to stock in the Bank, which he is kept out of possession of by others, let him assert his right in the Supreme Court, and let him or his antagonist, whichever may be found in the wrong, pay the costs of suit. It is an old maxim, and a very sound one, that he that dances should always pay the fiddler. Now, Sir, in the present case, if any gentlemen, whose money is a burden to them, choose to lead off a dance, I am decidedly opposed to the people's money being used to pay the fiddler. No one can doubt that the examination proposed by this resolution must cost the State some ten or twelve thousand dollars; and all this to settle a question in which the people have no interest, and about which they care nothing. These capitalists generally act harmoniously and in concert, to fleece the people, and now that they have got into a quarrel with themselves we are called upon to appropriate the people's money to settle the quarrel.
I leave this part of the resolution and proceed to the remainder.
It will be found that no charge in the remaining part of the resolution, if true, amounts to the violation of the Bank charter, except one, which I will notice in due time. It might seem quite sufficient to say no more upon any of these charges or insinuations than enough to show they are not violations of the charter; yet, as they are ingeniously framed and handled, with a view to deceive and mislead, I will notice in their order all the most prominent of them. The first of these is in relation to a connection between our Bank and several banking institutions in other States. Admitting this connection to exist, I should like to see the gentleman from Coles, or any other gentleman, undertake to show that there is any harm in it. What can there be in such a connection, that the people of Illinois are willing to pay their money to get a peep into? By a reference to the tenth section of the Bank charter, any gentleman can see that the framers of the act contemplated the holding of stock in the institutions of other corporations. Why, then, is it, when neither law nor justice forbids it, that we are asked to spend our time and money in inquiring into its truth?