ment by which it was proved that either indivi duals, private banks, or foreigners, could with fafety and propriety be depended on as the effi cient and neceH'ary means for so important apur pofe. Although money was at present plenty in Europe, and might be borrowed on ealy terms, it might not be so to -morrow, in cafe a war should break out, and our'neceffities become prefling.— He again enumerated the harmless qualities with which it was propoftd to veil the bank corpora tion, by the bill on the. table, for the important purposes of the common defence and general weltare". Gentleman had not yet pointed out any danger to the community, neither did lie think it wap 'poflible that any could ever be mentioned equal tothofeof fufFering the govern ment to depefid upon individuals orprivate banks for loans, in a day of diftrefi. But it wai said that this bill gave the corpora- Jon a right to hold real property in a state, which Cengrefs had no powers to do. The terms of the bill are misapprehended—this is a right, which has already been shewn attaches to the ci tizens individually, or in their aflociated capa city ; the bill therefore does no more than to ■velt a number with an artificial single capacity, ■under a fictitious name, and by that name to hold lands, make byc-lavos, See. &c.—all which they might have done before as citizens in a collec tive capacity.—So far from giving a new power, their original individual rights are limited for the public fafety as to the amount of their itock and the duration of their exifteuce. Mr. Boudinot then proceeded to cite numerous instances of powers exercifedby Congress during tlie last two years, deduced under the conftiui tion by necelfary implication, to (hew the utter impolfibility ofcarryingany one provision of that authority into execution for the benefit of the people, without this reasonable latitude of con itru<Sion. He alio adverted to some indances of the like condud: under the former confederation. It had been urged that rhe newsCongrefs had no rights or powers but what had been veiled injand given to them by the individual States, and there fore they could not accept a cession from Great- Britain by the treaty of peace of the lands ex tending to the lake of the woods, because not before included in any individual State. Every member was soon convinced of the abfurdjty of this argument, and by a necessary implication, eftablilhed the power of the confederated legis lature. During the war the commander in chief gave a paflport to a Briti/h officer to tranfinit cloailiing to the Britifli prisoners at Lancaster. He accordingly conveyed a very large quantity of British goods into Pennsylvania for that pur pose, which being direcftly against an exprel'slaw of that State, they were seized and condemned by the proper Magistrate. On a complaint to the legislature of the State, they referred the fame to their judicial officers, upon whose report (that Congress being veiled with the power of declaring war, the right of giving fafe palfports to an enemy wasneceflarily implied, which there fore was duly exercised by their commander in chief, tho no express power was given to him for that purpose) the legislature declared their law directing the condemnation of tfie goods •void ab initio and the judgment of condemnation had no effect. This was also the rule that governed this House with regard to the removability of officers by the President—and the authority given to a council to legislate for the weflern territory. In fine he concltlded, that it was universally understood that whenever a general power was given, espe cially to a supreme legislature, every neceflary means to carry it into execution were neceflarily included.—This was the common sense of man kind, without which it would require a multi tude of volumes to contain the original powers of an encreafing government, that mull necef. farily be changing its relative situation every year <6f two. If power was given to raise an army, the mak ing provision for all the neceflary supplies and incident charges were included.—lf a navy was to be formed, the manning and supplying the Warlike fibres are necellarily underltood.—lf a power is given to borrow money, a right to mort gage or pledge the public property to feeure the re-payment, is underflood to be veiled in the borrower. Take up the present statute book, and every page will afford evidence of this doc trine.-—Examine the law with regard to crimes and punishments ; under the power of eftablifh ing*courts, we have implied the power of punifh ingthe dealing and falfifying the records, and afceriained the punishment of perjury, bi ibery, and extortion. Under the power of regulating trade we have accepted ceflions of real estate, and built light-houses, piers, &c.—All this is under thedocflrine of neceflary implication for the pub lic good ; and in cases not so flrong as the pre sent, and on the exercise of which no gentlemen thought proper to dart this objection. This conftrucftion appears so natural and ne ceflary, that the good sense of every gentleman on the floor, has hitherto led him to proceed on this principle ever finee we began to legislate : What principle of the conllitution does it destroy ? It gives nothing that can affect the rights of any (late or citizen. Indeed it has been said, that it is exerciling a high atft of power : He thought it had been shewn to be rather of the inferior kind —but allow the polition, and who so proper as the legislature of the whole union, to exercise such a power for the general welfare. It has also been said, that this power is a mere conveniency for the purpose of fifcal tranfaclions, bat not neces sary to attain the ends proposed in the conftitu tiou. This is denied, and at bell is mere matter of opinion, and mull be left to the discretion of the legislature to determine. Mr. Boudinot laid, he lliould now conclude what he had to f?y, had not an honorable gentle man (Mr. Jackson) brought forward the obferva tious of the author <*f the Federalist, 2 vol. pa. 72 73 and 74, to Ihew a different contemporaneous exposition of the constitution, and charged the auchor, who he alledged was said to be also the author of the present plan before the houfe,with a change of fentitnent-—As this gentleman is not here to speak for himfelf, he ought to have the next best chance, by having what he then wrote, candidly attended to, especially as gentlemen al low him to be good authority.—Mr. Boudinot read only part of the 73d page referred to by Mr. Jackson, in these words : " Had the conven ' tion attempted a positive enumeration of the ' powers necellary and proper for carrying their ' other powers into effect, the attempt would ' have involved a compleat digest of laws on eve ' ry fubjeft to which the constitution relates : ' accommodated too not only to the existing state ' of things, but to all the polfible ch9nges which ' futurity may produce ; for in every new appli ' ca;ion of a general power, the particular powers, e which are the means of attaining the general ' power, must always neceflarily vary with that ' object, and be often properly varied whilst the ' object remains the fame.' How these senti ments can be said to be a different contemporane ous exposition must be left to the house to deter mine. Mr. Boudinot then begged the indulgence of the house to hear the fame gentleman when arguing expressly on that part of the constitution now under consideration ; and then read pages 144,5 and 6 of the ift. vol. of the Federalift,which were too long to be inserted. He declared that in his opinion it was impracticable to put toge ther language in the fame length, that could more forcibly and pointedly elucidate and prove Ihe construction contended for in support of the bill on the table. There remained yet but two objettions, to wich Mr. Boudinot would detain the house any longer. 1 The gentleman from Geoigia (Mr. Jackson) had charged the measure with eftabliihing the commercial interests, to the great injury of the agricultural. If this was true, he never would agree to it, for heconfidered the agricultural in terests of America, as its great and sure depend ance. Mr. Boudinot confefled that so far from feeing these measures in this point of light, he could not bring his mind to comprehend how the commercial interests of a country could be pro moted without greatly advancing the interests of agriculture.—Will the farmer have any tempta tion to labor, if the surplus of what he raises, be yond his domellic consumption, is to perish in his barn, for want of a market—Can a market be ob tained without the merchant—lf commerce flou rifhes the merchants increase, and of course the demand for the produce of the land ; but if the merchantile interests fail, there is none to export the surplus produced by agriculture. If the far mer lhould undertake to export his own produce, he could not give his whole attention to his as fairs ; or if the merchant Jhould attempt to raise the grain he wanted, he could not carry on his merchandize. The one interest depends on the other ; a separation destroys both. But the incapacity of the bank to extend its in fluence to the extremes of the union, has been argued, from the gentleman never having seen a uoteofthe present Bank of North-America in Georgia ; he therefore concludes, that bank has never been of any service to her agricultural in terests. Mr. Boudinot (aid, that he drew very different conclusions from this fart—he supposed that by means of the bank, the traders with Geor gia had been enabled to fend her the precious me tals, while the bank paper had answered their purposes nearer home, where they circulated with undoubted credit. He inltanced a cafe, of a Phi ladelphia merchant, who was poflefled of £100 in gold, and £iooin credit at the bank ; the mer chant wanted £100 worth of rice of a Georgia planter, and the like value in flour of a Pennfyl vania farmer.—When he purchased the one of the Georgian, he could fafelypay him the whole in gold, while he found the Pennfylvanian would as readily receive the bank paper for his flour : But had there been no bank, he could have pur chased but £;o worth of each, and the Georgian and Pennfylvanian both have gone without a mar ket for. the residue. In short the whole union may be likened to the body and limbs ; you can not aid or comfort one, but the other nntft be likewise benefited. 786 He said it was however difficult, and imprafti. cable, to (hew that every measure adopted by the government, (hould have an effe<sl perfectly equal over so extensive a government as that ot'the United States, it was fufficientif, upon the whole the measures of government taken all together produced the desired equality. The lad objection was, that by adopting, tin's bill weexpofed the measure to be considered and defeated by the judiciary of the United Stai«, who might adjudge it to be contrary to the con lliuition and therefore void, and not lend their aid to carry it into execution. This, he alledg ed, gave hi in no uneasiness. He was so far from controverting this right in the judiciary, that it was his boaltand his confidence. It led him, he said, to greater decision on all fubjefts of a con stitutional nature, when he reflected that if from inattention, want of precision, or any other de fect, he Ihould do wrong, that there was a pow er in the government which could conllitutional ly prevent the operation of such wrong meafur< from afFeifting his constituents.—He was legisla ting for a nation and for thousands unborn, and it was the glory of the constitution that there wai a remedy even for the failures of che supreme le giflature itfelf. Upon the whole then, he said, that on taking the power in question in every point of view and giving the constitution the fulleft consideration, under the advantage of having the objciiions placed in the strongest pointof light by thegreat abilities of the gentlemen in the opposition, he was clearly in favor of the bill; as to its expe diency, there could belittle doubt on the minds of any gentleman, and unlefsmore conclusive ar guments could be adduced to fliew its unconftitu tionality he fliould in the end vote for palling the [The foregoing speech of Mr. Boudinot, is copied from " The General Advertiser"—the others, which have appeared, and will be publijhedin this paper, on the fubji'El of the Bank, are originals.~\ L O N D O N, Dec. 7. Extrail of a letter from Paris, Nov. 2J. | IWO celebrated Mechanics (Messrs. Per- A riers) obtained permiflion in 1777, to con ftrutfl, at their own expence, some fire pumps, that were to raise and distribute the Seine water into all the streets of the capital. A co.nfidera ble sum of money was wanting to form such an ettablifhment, and Mefl". Perrier's riches consist ed, at that time, only in calculations ; but con vinced that their enterprise would prove extreme ly lucrative, they inspired some of the inhabitants of Paris with their confidence, and several of the citizens entered into a society with them, under the name of Perrier's water company. The fun damental base of this society was the creation of 1200 fliares of 1200 livres £50 (telling each : the number of these (hares soon encreafed to 400, and it was at the time, unluckily for the public Trea sury, that stock-jobbing was very a»Sive about this eftablilhment. Pompous advertisements, and al luring proposals, were swarming in every coffee houfe, and posted up at the Exchange, ana at the corner of every public street. The cupidity of speculators was so enticed by such flattering advantages, that the fliares rose, from their ori ginal price of T2OO to 4000 livres. This sucCess, however, was likely to produce a total fall, for in order to support such marvellous promises, success must have been certain to the enterprise ; the public, however absolutely refufed to let the water into their houses. Every body appeared alarmed at the expence. The company then, in order to conciliate once more the favor of the public, joined to it a Fire-Office for infurnnce, but the inhabitants of the capital exprefled as lit tle desire to preserve themselves from fire, as they did to buy water—the stock-jobbers then chang ed their manoeuvres.—They were bold and fuc cefsful enough to add the credit of government to that of the company, and the money of the public Treasury to precarious and difcreditecl (hares. In vain did M. de Mirabeau (the Elder) publish a severe pamphlet against the enterprise, and stock-jobbing ; upwards of twenty millions of livres for the four thousand fliares, which ori ginally were worth only four millions eight hun dred thousand livres, and are at present °f no real value. -Not content with this only, Men. Per riers had influence enough to obtain from the late Parliament of Paris a sentence, concerted between them and the company's directors, by which the said Perriers, were declared creditors on Government for about two millions of livrtt- M. de Batz, in the name of the committee of Li quidations, reported the whole of this infamous tranfacftion to the Natiorvil Aflembly on Monday last, and filled the house with aflonifhment an indignation. He concluded his report with the e remarkable expreflions : . , " It is time the National Aflembly fliould begin to impress the minds of individuals with a pio found refpedt for the public weal, and for tie painful fruits of the people's labor. A line o demarcation ought certainly to be traced between the errors of a vicious adminiftxation, and t ie
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