Wlliam Gilmore Simms
Selections from the Letters and Speeches of the Hon. James H. Hammond, of South Carolina >> An Oration on the Life, Character, and Services of John Caldwell Calhoun, Delivered on the 21st November 1850, in Charleston, S.C., at the Request of the City Council >> Page 242

image of pageExplore Inside

Page 242

Speech | The Reprint Company; John F. Trow & Co. | 1866, 1978
Transcription 242
assuming that so long as the Government received
Bank notes at all as money, it was bound to " regulate
their value," and for that purpose a Bank was " neces-
sary and proper." He said, however, even then, that
" as a question de novo, he would be decidedly against
a Bank; and when in 1837, he thought it could be
done with safety, he took an active and efficient part
in excluding all Bank notes from the Treasury of the
United States.
During the Session of 1816, arose another of those
great questions, which may be said to have had their
origin in the war, and which have since so divided and
agitated our country. Mr. Jefferson had recognized
the power of Congress to appropriate money for Inter-
nal Improvements in the case of the Cumberland Road,
and, in 1808, Mr. Gallatin, his Secretary of war, had-
made a report, recommending a stupendous system.
It was not until after the war, the expenses of which
had been enormously increased by the cost of trans-
portation, that the subject attracted the serious atten-
tion of the whole country. Mr. Calhoun brought
forward and carried, in 1816, a bill appropriating the
bonus and dividends of the United States Bank to
Internal Improvements. This bill was vetoed as un-
constitutional by Mr. Madison,4to the surprise of all,
and most especially of its author, who believed he was
carrying out the views entertained by Madison, and
suggested in his annual Message. In 1818, Mr. Cal-
houn, as Secretary of War, made a Report on Roads
and Canals, embracing views and recommending meas-
ures fully as extensive as those of Mr. Gallatin. On
none of these occasions did he express his opinion as
to the constitutional power of the Federal Govern-