.4 ,, '' _.,,,.., .. , , . • '' - __diGermantown Telegraph; 1 roissionee sent by the._ Moonier. to' ( suriley .. ....Y .--- A RELIC.' '•• .,' t-: 1 the ,lands had .been seized by the Mermons; here, was left at our office on MontlaYr encl.:both:Parties labor,' undor 'great excite, ~.2.--- " . ' -, . a curious and inter_estinvelic of-the - Revo- - . !Irlit:' -; - 'llitiiiiiiffirar." , It is a large Powder Horn,® • found huh" weal:, two or three feet' under " - trictliidOii — efeWating, a_grare'm the bury ing ground ‘ aitached to the new Lutheran Church, ,of this . place. The horn is of . a - -large size, and has engraved` upon it, very , neatly a number .of interesting historical devices, in a singuldr state of preservation, For :instances_ we ,find--the-followingEb= - , enezer 'Gray, his Hord, made at Cambridge, 1175." -Then t immettiatery under, within . -a..„sepiate 'bordeb. the - re is :-6" Made by • Williarii-Hcerey, Of .Mansfield." , Beside, there 'is a map coniprieingßoston, Charles - -: . town, Bunker MIL Roxbury, &c., iiiblu ding_ the British .'shipping in• the harbor, r • • the several on Bunkeri Hill and neigh borhood of Bostdn, numb ed and .designa-. .. -&o., The'. Whole forming a-,curious . - linttstriking.relid - of one of the most exei:. ting.'and important . periods - in.--American history.. . We . hive, no doubt but that the : hbrn was either lost at the' battle of Ger matitown; inik - Was buried _with, its patriotic owner 'who' perished. hi -that sanguitai. r • struggle: - • --*. . . ' ----- .PoWiheficiltitiiiir - rAnerit an. • — RAIL-ROAD INVESTMENTS. • 'An En!lish paper 'notices the.extraordi _ —nary-increase-irt j valuevf - rairrineity Which has. taken place 'within. =six months past.. ;Upon twenty lines of rail road im provements in Great Britain, the increase: in the, value of stock since December last, has amounted in the aggregate to eight mil lions sterling. The sharen•-in the Great We.stern railway since 'that period have. --risen-R52-per -share—that -is from - 10 - be- - • low par to 42 . premium; equal t2.21,300, - - • 000 upon 25,000 , original'. shares.. The London and Birmingham shares haye in like manner risen from 50 Preinium )0'99 premium, equal 'to ..R),225,0dti 'upon the 25,000-original shares. . . -• We find in the last number of. the four . - '•nal of 'the _Franklinlnstitute,,--a very Celient • periodical, by the, vay,- 7 -that the .profits on _the_ Orinci pal. rail .roadi-in the not higher than'ls per cent. and not lower than•Flper cent: • .. • • ,77:•TaT11e7U.tica and.Schnectady-read -realized , the firstr.named'cliyittet.dr. 7- TliillTfieirirrid Syracitie toad dlidded fourteen per cent. The Camden and; Amboy rail road•realited 18'.1-4 Per cent. The Philadelphia, Wil -mington and Baltimore rail road in (839 divided I 1.4 per tent.. - ..FrOm-tice-•etatistics of-rail-road-travelling:- in Eno,lhtid it isascertained that the clanger of loss of life_on an average rail road trip is abOut 1 6'4,000,000. -no ~,drode .of -travelling so- safe upon, tile whole as rail road travelling: The statistics in this country as well ai in England would ito - doubt show this. Discovery .of Tin :Orextract of a letter, dated Walpole, N. H., 15th June: —Dr.:lad:ion, the State Geologist, states the certain existence of tin ore on the east- ern slope of the White Mountains, in the town of Jackson, county of-Goos, N. IL' D. Jackson appears to be of 11)6 opinion . will' prove to lie - aliundant—if ea-this is.the firstAftscovery of: tin in, any qtranillyin the I.Joiled. Statics _ THE •AMERICAN NAVY. • Mr. Buckingham, the traveller, has the 'following paragrap!i relating to the-Amerk can Navy: - . "The-American Navy comprises at pre.- . sent,,l three-decker of 120 guns, the Perut . - . , ayivania, built at Philadelphia, and said to be the largest ship in the world, capable.of mounting 150 guns, though rated at only 120,. and •probably .catryirig mote _at - preseiitT - 11 - IW - ckleekeis ; rated at '74's, though all capable-of . cartying 'from 80 to 00-gons each; 18 frigates, of 64, 44, and 36.gune - respectively; 16 sloops; of 24 and 18 guns each; and 10 schooners, of 12 and . 10 guns each—making altogether only 56 vessels of every-class; - und - yet small as it • is in the ritiaiber of its ships its efficiency is so great, nd the skill of its officers and seamen so conspicuous, that it is superior . in actual force to any . -other Navy in the . world, •except that of Great Britain, and would not shrink single-handed, from a contest with it, gun ,for gun, and man .for man, with a probability of being victor." THE GREAT WILL CASE. We learn front a London paper;,that the will of James Wood is still in litigation be tween, the heirs and legatees under the will and certain persons who claim , to be legatees under a paper, purporting to be a codicil to his will. The costs incurred in the Ecclesiastical courts, exceed .R 50,000. The costs of the suit pending before the pri.l • vycouncil will be enormous. The fees alone which have been given to the numerous Counsel, with their briefs, amount to be tween 5000 and A6OOO, The Attorney 'General's brief is marked 1000 guineas; Mr. Pemberton's, 800 guineas; Sir F. Pol leek's, 500 guineas; . Sir Wm. Follett's, Philirno:e's, Dr. Adam's, and two or • three others, 400 guineas each ; and an sdditionalfee, [called a "refresher,"l vary ing from 10 .to 15 . goineas, i 8 daily given to each counserdurtng, the enquiry. The amount of . interest' which has accumulated „,,, on the property left by 'the testator since his death,exceed .4100,000.-4/b.".124. A State Protested.—We learn from the Jackson Mississippian s , of the - 4th - inst. that Gov. McNutt has received official infor mation. t at the State haii beenrprptested for interest due on a'portion of the State bonds. The Mormoni.—A - : letter — rot -mei a Philadelphia - from Nauvoo, Mates that Joe Smith, the 'leader of the' Mormons, has been arrested by ,the authority of the Go vetoer of Illinoia,--3that the Mertneee-had ~- t alleti:paiiieiisiota-ifif Targevtract of land without authority, and,,tliat the etrongeet excitement-prevailed a&tinst 'Them in_the immediate neighborhood, 40,,roarrol'aP ,..prelieneions were entertained leat a mongol --nary ptruggle altould-takeplace;-Thetem= 'rfiece is, perhaps s' "It= = _DECISION-OF-THE-SUPREME-COURT IN. THE Yoruc PRESBYTERIAN CnsE.,-English , .Presbyterian congregation vs: James John.- son, , et, al. This;)ilas - : an actithrotif•eject ment brought to try the title to 'certain pro perty in York, wider the following : facts The prep_erty , _was• grautedliy_ ihe :Penns itr 178 - 5, for the•use of the English Presbyte rians,:irt and . near the town of York. In 1762-and since, thiieengregation there was connected with :the , Donnegal Presbytery, and that was afterwards merged in the Car-, lisle Piesbytery„' ' A portion of the congre gation, in October, Is3B, seceded from the . , Carlisle Presbytery,, denied their juristlic tion,. and, refused to' submit to ,• them.—,l These were known Ville name of New Schoolarty-.—Vhe' - other --- portiMrtirthe ito, congre ties; knew& as the.-,Old School, adhere lie Carlisiesbi4errind are still iii 'cltheinon. The la:ter being oust ed of the property, brought suit, and upon A decision, in 'the court below against-them, carried it up the Supreme Conti . , by writ of error. .The Supreme- Court being divided threC - to . ; ty_olJudgei_eibson-Aechired -- th opunon arm ug-thc sion of the court (1( ----4 in i ~ . e . below, on.the ground th . the . nevi , school were the- majority —Jud es Houston _and_ •nuotlY—dissenting. . .. Death of an Indian Wari•ioi.—W &find in one of the Little Rock papers a singular obituary of an old . Indian . who fought un der General Wayne. in the, revolutionary war. Captain 'Visit°. Mingo; a veteran wartionof-the-Chhetaws;dsparieTthiS life -on the sth-ult. Althougirbut Jittin•known beyond the limits of his nation, yet he wga s *Man whohad.seen wars and fought bat iks; -stood :high - among •his own peeple'as a brave and good Than. He served' under General Wayne in the Revolutionary war, for which he reeetV"eil a pension "frbrit the government of the United Statis; the - late war with England .he served under General - Aid many deeds oT valbt.'l' He had fought in nine -battles for t Irsi4tritiutt:Shileil s "z4SfOga"VeYiiTt served the white man faithfully.' His last words. were,` Winnit - ani gone heat: the Atigf:arafire TEXAS. • The steamship New . Y6o4Capt. Wright, arrived yesterday morning from - Galveston, bringing - dates - to Saturday - morning. The Neliv__LYorlt...spoke-the-,-Woodbury Cutter Off Gladbora Island on a cruise for pirates; but sliq had found none. - • The Presbyterians and - Catholics are building churches in Galveston, and - the WthOdists have raised sufficient funds, and will - commence inimediately, • • — Between 150 200 children are .at school in GalVestOn. The Santa Fe expedition was • to have eft Auslinbn the Bth inst. Capt. Lewis with his company, fell in With five Indians, one while man and a squaw, near §an Ant6i4o, all of. whom were , killed but-the aquagi whip, was re tained as a prisoner. Capt. M'a ither . also killed- five Indians on the Isfay.osoto, and took 50' horses. 'l'hc crops of Texas promiso fairly.—N CUBA. BY a statement from our correspondent, which We plolished .yesterday; it appears that the 'exports et, that most productive spot of earth, amounted in the yeat:,lB4o to almost twenty - six millions of dollars ; being 'four .uiillions and a half more than in 1839. -The quantity of sugar exported was six times as large as the quantity of beet sugar grown in - France during. a simi lar period. The immense wealth of Cuba -and her gfe-at-Aoductiveness, in despite of all the embarrassments . imposed-upon her by Spain, render - her an interesting, object for the contemplation of political econo 7 mists. The foreign trade of• that island is. equal to one-fifth of the foreign trade of the whole .hilted States, including. cotton, to, bacco, bread stuffs, and all the rest. Her internal trade` is however comparatively small, as there is very little :variety in the pursuits of her people, almost all, of them . engaged in agriculture, and that confined .to two articles, the stigar cane and . coffee tree.—.N. Y. Jour. QOM. • .Mire of Silk. --The act for the en couragement-of the silk culture,,passed by the Legislature of New York ; on the 26th of May authorizes County treasurers to pay a bounty of fifteen cents' per pound for Cocoons and of fifty cents per pound for reeled silki said cocoons having been'raised and silk reeled within this state, until the Ist of Jude; 1840. From the New York Sunday Met eury CLIPPINGS AND SCRII3B{INGS. Fashion is a deformed little monster, with a chameleon skin, bestriding the shoulders of-public opinion. Though weak in itself, like'most other, despots it has gradually atenr . ped a deg of 'power,that is irresisti ble, and m prevails' in various forms • over the whole habitable earth . It is the greatest tyrant in the world. • It is from kaving sutieredourselves, that we learn - to - appreciate the misfortunes and wants of others, and become doubly inter ested in preventing or :lilieving:theth. ° "The human heart," as an elegsnt.French authOr observcs,, "resembles .certain medi cinal trees, which yield not Iheir healing balm' - until' they have then:Alves been wounded." - " -- Tbat — lass - 1 - ass-vtol-a — iiiin_of_the Sob ba4V-Ward-Dikb-y ae nday, saw a man carrying a big fiddle into atbuich. "I speak within beunde," as the prison pr Bald to.the jailer. . , • . ne,extreme is as :bad as another ' " the man • said when " they Ming hita c tip by the .heels:"' '"We 'have to pay for every thine as the mill geld:when -the mosquitos -after .4 fa) untarriereeade sent his- bill into him: ',..c ''10",...' , er : - 4., ir : I . to)f: : " :Wr t•-4:.,X. - -0.. :a '01( : -V - irp .00 .14.:0' . .i '4,. cipOos Kepoirt. ----lii-te-day's -paper will be, found the' re-; r• port yesterday made in the Senate.by Mr., i Clay of Kentucky,.fronf7e'Seleet coinmitteei on the *subjeet, of a Bank of the . U. States., It is a luminous and able paper; and,' with the exception of.the ergument that a refusal I to. exercise-a--power: is a---tenegation'tif - it, - 1 (which appears to us to _be • toe strongly 1 put,) it is persuasive• throughout; and, fur -1 the' most part conclusive. „ • • •. " For our part, we 'know - , that Mr. Clay, himself. cannot entertain a stronger convic -1 thin than .we do of the right of Congress to 1 exercise all the power-in regard to this sub ject which it has heretofore exereisedand the constitutionality of which has, been al,- firmed by the highest - judicial tribunals, as -well - as - appm - e - d - b — Ty lie - people. If, how ; _- tver, there is reason to apprehend that all branches of--the government sire-not-ready to exercise that power, to the extent here tofore exercised, We would not persist 'in doing nothing, . because we 'could not do every thing that we desire. On that ground Itis that we have earnestly :recommended -th_e__daptiort.of—the--'-creasurrproject -- a - re - : - Fiscal Bank: - „, . . • In thjs . respect we stand opotille same ground as the Secretary'-birtiself; What_ tis-intliiiithral - qtnititiorthis - iEhject is, be explicitly Made known in report to. Congress upon the state 01'• the Finances. He told Congress.that he had."no doubt of the power of CongresS to create Such an Institution," &c. • Yet, he tidded, the poiv er has 'been questioried by ,many wise and petrietic_stateimen, and-it is therefore - int- - .portant, as far-as, pessible, to obviate 'objec, dens and reconcile Opinion.. of the_ chief of- these-objections the Secretary sought to obviate by the 10 - cation of thetank..in. Washington. Thisleadiog feature of the" Secretary's plan has been re tained by .the. Senate -committee, Another Maio objection known to exist "was to•the - ,uniitnited authority to establish branches.jn. the _states; "chip is the :Moat Important_particular- . M--Which. the..plan of 111g,.561i110..,P,ontirditen,t-d.itft*frornAat;ii * 'ti'ileMtretai . P. - ''''S'it f oiiljjie - ilitMs iS tieta' us - to ,settle_when.AreaLstatesmen-come-to • differ upon them. -hut we Shotildeertainly : prefet - theatptiMCOllll)4"-Se'eolo3 :7- ITi -to the present state of thingi; whilst no-one who 'habitually reads -OAS , -paper would doubt that we should prefer the branch' _feature - in Mr. clay's plan, if attainable, to the -corresponding feature of Mr. Ewing's. The-question for Congress - has appeared us to be; under existing circumstaricesoitit what shall we-do,. but -What can We de? In what we hatte said updit the subject, we have so argued the matter:-:and there,, for.' .the present; tee.leavo -it. • The other deviations of the plan of Mr. -Clay-from-that:of the-Treasnry-involve-oo •prineiple "upon which the fate of a bank b'll could be .supposed to _depend. - Some f them, such for example .as the 'extension of the, limitation of the annual dividend' upon the stock of the bank from six to-a-e -ven per cent. would, we have no doubt, be entirely, acceptable •to the friends of the TreasOry project if engrafted upon • _Nat. Intelligencen . • PROPOSED BANK OF .THE TED,_STATES. The . folio wingis the report of-the Select Committee of the Senate on the Currency, &c., of which Mr. - Clay of Kentucky, is chairman, as read by hini in •the 'Senate yesterday. The committee to*which was referred so much of the President's,Message as 'relates to' a uniform currency, and a suitable fiscal agent capable of. adding increased•facilities in the collection, and disbursement, and se curity of the public revenue, have had the same-under- considerationi-ind-begjeaVe-to report : • That, after theniost attentive and anxious consideration of the state of the currency, and the finances of the government, in all their interesting and important bearings, the committee- have arrivesl..at _the. same conclusion with the , Secretary" of the 'Trea sury; that a sound and just policy requires the establishment of a Bank of the United States witlris little delay as practicable: The committee have neither time nor in clination to enter into• a discussion of the question of the priwer of. Congress, tinder the constitution of the United States, to es-, tablish a National Bank. After all that has been said and written on that question dur ing the long period of halt a century, noth ing remains to be added that would fie like ly to -shed much new light upon it. It ought, in the opinidb of the committee, to be regarded as a settled question—settled by the approbation and judginent of the People, by the authority of the Legislature, by the sanction of the Executive Depart , went of the Governmerit, and by the solemn adjudication of the 'Judiciary. If it be not regarded as a decided questioo, when', in the collisions and conflicts among men arisingout of diversity of. opinion and judg ment, is a controverted matter to be con sidered as terminated and quietbd . ? Nor do the committee deem it necessary to discuss the question of the ,expediency of establishing such an institution as a Bank of the , United States. On this there is even lesti contrariety of opinion than on the for question. On both, it is the deliberate conviction of the committee that a-vast ma jority of the People7of' the. United States concur; and that ,• they are ' now looking,' with anxious solicitude, to the deliberations of .Congress, under the confident hope that a Bank, of the. United, States estab 7 lished at the present extraordinary session of Congress. • - - Passing 'by, therefore, those tiVoques .-tions-as- being -unnecessary_to:Are-further argued,, arid - assumini, what the committee verily believe, thaVa National Bank iii-Ah ',diqpensably, necessary, they .will proceed at, once, to the particular form, powers, and faculties with which it ,may be .expedient the committee have no hesitation in saying that, confiding in the experience of forty years, during which the - nation has .enjoyed the:We* of a National Dank, and during , I the.'greatir ,part of... Whic h -it has lodised (Ivory reasonable hope -and'expectaliOn in Mil Mill POILAITICALIA. the operations -of; such An institiniOn,..they came 'to' tha conclusion that it. would be tvisest . to dismiss , all experinients,'iuid 'to cling to, experience, 'and • assume the last charter granted by Congress as the basis of a new bank; engrafting upon it such restric tions, guaranties, amendments, and : eondi tiens, -as have been foOnd necessary by . 4 c. .tual experience. • . . . The' Secretary , nf . the Treasury came 40 concluSion; and report, and, the, draught of a bill Which,acconfPanies it, .he has taken as his model thonharter grant ed by Congressin On.that he has suggested a• great many valuable iniprove , .ments, most of Which the committee have incorporated . in' the draught of a bill which, they now -report to the Senate. On this draught they wish to offer to.the: Senate, son e brief explanations and obseivations, "he Committee have adOitedlWashin,...- ton t•ityTproposed by the Secretary of .the Treastriii, as the: place of location of the principal bank. % ...They believe the-place. of its location is a subordinate question l .but there are many advantages from the proxi mity of the Banklo the Government. The distributien --- of . the capital of .'the bank a; -mong the several comtnerciateities, in .pro .. porti Om-to-Abele: respectitre - wafiTS' -an d' - pi agE nittide,:is -what they naturally desire, and what will doubtless be:done.. But to guard against the exercise of ally tiorlue—goverrt-- -oro cialinfluence, or-the-imputation oleo :unworthy' transactions, the •comniit-: tee . !aye thought it expedient, to. -deprive the parent clank of all power to make' any discounts or loans Whatever; except loaits to government,. authorized by- express law. In order to .ensure the command of the . best financial. abilities of -the--country, ' the bill provides .that the directors of the I'arent Board;' ty.hich is to consist-cif . nine members, shall be paid forth* services by the corporation;-and all. - compensation:At , the directors, in the usual form of bank. ac- commodations,,is utterly prohibited. Thus, the dfrectors of theßank at Wask ington will become "a Board of Control, superintending: the' bran Ches, .stiPplying them with a Currency, and banking exclur sively through' die agency of :Thar office's "f h Cal''ut`tiialiank;',piopoiietlb `the Secretary, ie . retained; . 4044/over:is re served to-. Congress 'to:atignient- it. by_ the .a d a i ti on —o fsisven ny:it aggregate_ amount UltiniatelY to fifty mil flops oldollars; if .that should be found to, -be necessary. , . ' • . . To suard 'against undue expansion of _ currency by the operations of thcbaitic . , va rious restrictions and securities - are: intre= 1.. Th - e - dividends are limited to seven per cent. per annum; and, after accumulo 7 ling a reserved fund, of two millions - Of del- . lars, to cover loises and contingencies, the excess beyond that.seven.per cent. is to be . _putAnto the-public-treasuyy. --And, what- - ever excess remains at die end of the char= ter beyond the. reimbuysement to the stock- holders of the capital - etock,is. also to be .. id into the •Treastiry. If the dividends fal es 4 seven per'eentAuring ( any year. of the charter, the deficiency is to be made . 'good out of th)c surplusses.previously paid into.the treasury. The effect of this pro vision •is, to make , a permanent and inva riable seven per cent'bank stock,_ assuming that the administration of the bank is con ducted with integrity and ability. e--de b is= due to the bank are r quired 'not to exceed the. amount of the capital stock actually paid in, and 75. per cent thereof, which is a greater restriction than usual. • Tho' total'ainotint of debts .which the bank is authoriied to contract, bver .and above the•deposites,ls not to exceed twen ty-five millions .of dollars, yAich, is also .a greater restriction than . was 'placed :upon . the late Bank of the 'United States. 3.. The „pnblicity _y11101,48 required-of the general condition of the bank, and the full and complete exposure to committees of Congress, and.,y) the Secretary of the 'Treasury, which is amply secured, of all the books and transactions s of the bank, in cluding private accounts. prohibition of the renewal.of_any loan; thus putting an end to all mere accom modation paper,,as far as practicable, and confining, the bank to fair business trans= actions. .• . . . And 5..,The - bank- is prohibited 'from making any. fiiither discounts . or loans whenever its notes in circulation exceed three times the , amount of specie - in its vaults. . To protect the community and the stock holders against mismanagement of the bank, Beveralprovisions have been inserted, which it is hoped may. be effectual. 1. No paid officer of the bank is to re ceive loans or accommodations in - any forin whatever. . .. . 2. Securities are provided against abu sive nse of proxies, such as that no officer of a bank can be a proxy; no proxy can give more thary39o votes; no_proxy to-be good ,which' iiiif longer 'standing than 90 days, &c. .• , . 3. A prohibition against the. corporation's transacting anyotheuthan legitimate bank ing business;.excluffing all dealing in stocks, and all' commercial operations. •4. 'A requisition that a Majority of the whole number, of the Board of Directors shall be 'necessary to transact ihe buiiness of the corporation. , _ 5. Ample ° pciiver °to make the most tho ough examination into the condition — and proceedingi of the , bank, down to the ac counts of individuals,-by totally removing from the Secretary of the Treasury and committees of Congres s e veil cif secrecy. And 6..8y denouncin and punishing es felony the crime of e bezzlement of the funds of the bank when perpetrated .by any , of its officers, agents .or,servents. ° — 7 - C9neurOng - entireiyin — thtl — yr - rn Jur - IT - 4 - 0i: pressed by, the Secretary of, the Treasury, that many vOisev and patriotic statesmen, whosiropinionsi are entitled to considera tion and reseeetihave'questioned the pow - Or. otSonsreis4M...establish—a—National ,Bank; and that it is desirable, as far. as pos sible, to Oviste - Objebtions and reconcile opinions,,,the.ionimittee have attentively. and earnestlp'.extindned -..the provision, in corporated itt:theAdraught ofithe bill-of the Secietaryfio meta to the , branchinirpow-: _or of the -banl4,-ateithes nould -have been . happy - if - they could have reconciled it to their sense of duty to adopt it. gut, after the fullest ,consideration, they have been unable to arrive at that result. It is not without some hesitatior. that the committee agreed to the location of the bank in the- District 'of Columbia. :This they did because they believed that the utility of the Bank do not so much , depend upon the place:of its location as upon the. capital, facultieS, and the powers which should be giver to it. But-to insolate it in this ,District, without giving it anibther branching power' than such as it might de rive from the consent of particular States, would be to, create an enormous District bank, devoid of effective national character «, Such a bank would be a bank only of 'the District of ColuMbia, and its, offices of dis count and deposite would be nothinginore_ -than - harilarof — ilfe — Statei which might al low. them to be planted within their respec tive limits. For all national purposes Congress might as well recharter one of the existing District banks, enlarge its cap ital, and give it atithority to establish offices of discount arta dpposite in any State that Would pormit it to be done: _ :corn m 'of bank so constituted - would' netiar:bi taken ; and that, if taken, the institution would be whplly unable to accomplish "tb_; grea ar, sa . utary.fpurposes for -whic desired and shouldlie - designed. - 7 But the question of establishing a bank thus to be restricted and circumscribed in yolies higher and greater considerations than those of mere expediency. The Ge neral Government has or has not the power to establish a - National Bank. If it has the. power; it derives - froni it the existing' grants in the Constitution of . the United States- The committee. believe it has the power, and ought to exercise it. But after a con test-during the last ten - or twelve . years in respecrto the constitutional po3i , er of Con gress, which has been marked by•so much' animation and bitterness, a forbearance to exercise the power would be a virtual render Of the power. ° If a bank ,were to be. created, .whose 'operatiOns . .tvithin-the limits of the States .. Pn tiere._dependeht -not ..;:',.: 44,*7 riFfi rirnitTireiSMlT. u lk pife4tiV will of each, State,:separately..announced; the-creation'of - such - ntatik ‘volihridd . ati-% otherttouS, expiriAnts f 41dd-would --,be-taitta in ou n to a reli n gttWi= men t the national power, and it• could never be -resumed. . • • power of the Federal Government is only to be -found in the -giants of the Constitution„ -Ifolieyare - 7:inadequate ;to the fulfilment of the great purposes of its establishment, they can only be increased in . the mode of amendment which the in strument itself:has - prescribed. They can not be augmented by the grants or consent of any: State 9r States short of the number of two-third% whose coneurrence is neces-.. sail to give validity to anvamendment. - A derivation of power. to the General Govern-' ment from:the consent of particular States would - be ue‘otind prtneiple;, and the committee apprehend dangerous in practice. Admit such consent, to be a legitimate source of power, the Government would not 'operate equally in - ail the States, and the Constitution, losing its uniform charac ter, would exhibit - en irregular and incon gruous .. • . ° . Entertaining these'detiberate views, the. committee are decidedly of opinion, that - no gilt rc the establishment or a hifilciTillie" District of Columbia will be effectual which . does not contain a clear recognition of . the Constitutional power of Congress :to9stab halt branches wherever, in the United States, to the public wants, in its judgment, require ,them. .They cannot consent that a . bank, emanating from the 'will of the nation, - and itnperatively`demanded . .by: - the neCessities of the Government and of the nation, shall 'be Wholly, dependent for its useful o era will.oleach and every S te, distinctly expressed. Accordingly, in the draught of a bill now reported, the right is- , asserted to exercise the branching power of the bank indepen dent of the assent of the States., The'com mittee dare not allow themselvei to believe that - that bill is free from all defects; but . they do_ hope that these,. in a spirit of lib erality, will, be. corrected. by the superioi wisdom of the Senate and of 'the House, and that the present session will be signal ized by the establishment of a national in stitution, which has become a desideratum to the general prosperity.. • • • •- The' advantages which will low from such an institution, in both our doMestic and foreign relations, are manifest and in contestable. It Will, give the-People a sound currency of unifortnvalue — throughout the Union, which is just as necessary - to the successful operation or r all branches of business' as pure air pr water 'is to.the preservation of human life or health. ' • - It will teviVe - and•extend 'eommercial in •itercourtin‘iiihich, for the want of a common medium;has been,. almoit 'suspended be tween different parts of the Union. - It will reduce domestic exchange from the enormous premium', and discounts now frequently paid to the moderate standard growing out of the more cost and insurance on the risk of transporting specie from one to another part of the Union. It will, consequently,. save hundreds of thousinds of dollars now annually lost in transactions of exchange.. , ,essentially benefit the manufail turindinterest by enabling it to realize sales) and the' proceeds of, sales. _lt will powerfullY contribute to there-sumption of specie paymenti byjhe banks, whose,existing delinquency. is The greatest source rrevailing pecuniary and fi nancial embarrassinents.. ' : It will greatly tend to pmentand_carrec the excesses and abtises (Ohs local banks. It will furnish &medium common to all parts of the ' 'Union: for the payment of debts and dues to theßovetnnient ; thus render; I ing_dittles and:taxpruniforra in fact as well .811-in—nonic r f- ' It is indhipensable to the convenidht and successful financial cipertitions . of the Gov ernment in all the departments of collection, safe-keepiiigond disbursement! of the pulp! lie deenue. - - ' are come of Ilia (Limeade .beneffte which the committee fully believe !ill be secured, ty a National Bank, 'Those which appertainito -our foreign relations are 'also worthy of serious conSideration. - Ifs.it , be true that money ii power; ,its concentration tinder the direction , of one will, lobe or. collective, must augment the power. A nation, without inch a concen tration of power, maintaining extensive commercial intercourse with another nation possessing it, must conduct that intercourse on a condition of inequality and disadvan tage. National Banks, in other countries, beget the necessity therefore, of a National Bank in this .country, in like manner as National Governments in foreign nations must be met by a National Government in ours. Accordingly, we have seen the influence exerted by the Bank of England upon Americon- intereets, when those.interests were exposed to the action of that Bank, and were left without the protection of the Bank‘of the United States. The commit-. tee do not wish to be understood as intend ing to express any approbation of the cow -1 niercial operations in which thelPennsyl i vania Bank, assuming the name of the Bank Of the United States,_engaged r -when - that state orthliiii - 1 arose. 'But they - do - nriean to say that the inter ests •and dignity of the United States de man d that_they_should-not-be'exiscrJed;tre yond the necePsary and,legitirnate influence 'rat HO - of - monetary and'eorniii - eteral operations, "the action of a foreign banking. nstitution. They believe that, without a competent Bank of the United States, foreign National Banks may and probably will exercise an undue, and. probably pernicious influence upoli our interests. In tbis view of the case, the question is, whether it is better that we should be•left liable. to be materially effected by a foreign institutioni - in which we have no interest, over which we can exert no'control, which is.administered 'solely in' reference to for. , eign interests, or lye shall have an Ameri can Bank, the creature of .ourwill; subject to American authority, and animated by American interests; feelings, and symint,. thiest. - _The . ..committee ~ couttl„rittc._Ontegoin -- a it