An Eulogy On the Life And Character of James Madison Delivered At the Requ

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An Eulogy On the Life And Character of James Madison Delivered At the Requ
Adams, John Quincy, 1767-1848
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The Protection of Manufactures, the restoration of public credit, the recovery of the securities of the public debt from a state of depreciation little short of total debasement, and the facilities of exchange and of circulation furnished by the establishment of a Nation- al Bank were of far deeper interest to the commercial and Atlantic than to the plantation States. Mr. Jef- ferson's distrust and jealousy of the powers granted by the Constitution followed him into office and were perhaps shar
...pened by the successful exercise of them, under the auspices of a rival statesman ; he insisted upon a rigid construction of all the grants of power — he denied the Constitutional power of Congress to es- 41 tablish Corporations and especially a National Bank. The question was discussed in the Cabinet Council of Washington and written opinions of Mr. Jefferson and of Edmund Randolph, then Attorney General against the Constitutional power of Congress to establish a Bank were given. With these opinions Mr.

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