posal and regulation of it, is such. The support of a government, the support of troops for the common defence, the payment of the public debt, are the true final causes for raising money. The disposition and regulation of it, when raised, are the steps, by which it is applied to the ends, for which it was raised, not the ends themselves. Hence, therefore the money to be raised by taxes, as well as any other personal property, must be supposed to come within the meaning, as they certainly do within the letter, of authority to make all needful rules and regulations concerning the property of the United States. A case will make this plainer. Suppose the public debt discharged, and the funds now pledged for it, liberated. In some instances it would be found expedient to repeal the taxes; in others, the repeal might injure our own industry, our agriculture, and manufactures. In these cases, they would, of course, be retained. Here, then, would be monies arising from the authorized sources of revenue, which would not fall within the rule, by which the attorney-general endeavours to except them from other personal property, and from the operation of the clause in question. The monies being in the coffers of government, what is to hinder such a disposition to be made of them, as is contemplated in the bill; or what an incorporation of the parties concerned, under the clause, which has been cited.
"It is admitted, that, with regard to the western territory, they give a power to erect a corporation; that is, to constitute a government. And by what rule of construction can it be maintained, that the same words, in a constitution of government, will not have the same effect, when applied to one species of property as to another, as far as the subject is capable of it? Or that a legislative power to make all needful rules and regulations, or to pass all laws necessary and proper concerning the public property, which is admitted to authorize an incorporation, in one case, will not authorize it in another? will justify the institution of a government over the Western Territory, and will not justify the incorporation of a bank, for the more useful management of the money of the nation? If it will do the last as well as the first, then, under this provision alone, the bill is constitutional, because it contemplates, that the United States shall be joint proprietors of the stock of the bank. There is an observation of the secretary of state, to this effect, which may require notice in this place.—Congress, says he, are not to lay taxes ad libitum, for any purpose they please, but only to pay the debts, or provide for the welfare of the Union. Certainly, no inference can be drawn from this, against the power of applying their money for the institution of a bank. It is true, that they cannot, without breach of trust, lay taxes for any other purpose, than the general welfare; but so neither
Page:Joseph Story, Commentaries on the Constitution of the United States (1st ed, 1833, vol III).djvu/150
Jump to navigation
Jump to search
142
CONSTITUTION OF THE U. STATES.
[BOOK III.
