it would create an immense surplus in the national treasury, unless some scheme for its expenditure could be devised which should seem to promote the national interest.  To this end, the party of the Administration claimed a constitutional power in Congress to carry on a system of internal improvements; and heavy appropriations were made for this purpose, not only absorbing the surplus revenue, but creating a necessity for more—­and this necessity was an excuse for increasing the tariff.

The Bank of the United States was the depository of the moneys of the nation and her disbursing agent.  The constitutionality of this institution had been a mooted question from the day it was first proposed by Robert Morris.  Mr. Madison, who was a Republican, had at one time vetoed it; at another, approved it.  Mr. Crawford, a most inveterate States-rights man and strict constructionist of the Constitution, had uniformly supported it.  Mr. Clay had both supported and opposed it.  The question was finally adjudicated by the Supreme Court, and, so far as that decision could make it, was decided to be constitutional.  This, however, did not satisfy the Republican or States-rights party; a large majority of whom always insisted upon its unconstitutionality.  At the time of its creation, a necessity existed for some such institution, to aid the Government in its financial operations, and at the time of the renewal of its charter the Government had just emerged from a war; every State was creating banks, and the country was flooded with an irredeemable and worthless currency, disturbing commerce, unsettling values, and embarrassing the Government.  A power was wanted somewhere to control these State banks, and to give a redeemable and uniform currency to the country.

The State banks had proved destructive to the public interest; with no power to restrain their issues except that imposed by their charters and the honesty of their officers—­a frail security for the public, as experience had attested.  The example of Washington was pleaded by the advocates of the bank.  At the very outset it had been opposed for want of constitutionality.  Washington had doubted it, and submitted the question to two of his Cabinet—­Mr. Jefferson and Mr. Hamilton.  They were divided in opinion—­Mr. Jefferson opposing, and Mr. Hamilton sustaining the constitutionality of the measure.  The opinion and argument of Hamilton prevailed, and the act creating a bank received the Executive approval.

It answered admirably the object of its creation, and the Republican party (then in embryo) acquiesced.  Indeed, at this time, there could scarcely be said to be a party separate from the Government.  Mr. Hamilton and Mr. Jefferson were the leaders of the parties which divided the people upon the adoption of the Constitution, and these parties, though at this time inchoate, were concreting about these two wonderful men.  Upon the renewal of the charter of the United States Bank, during the Administration of Mr. Madison, the Republican party again mooted its constitutionality; but its undisputed usefulness had won for it immense popularity, and there were many who, though acting with the Republicans, were willing (as Washington had approved it, and the Supreme Court had pronounced it constitutional) to view the question as settled, and vote to renew the charter.