AUTOGRAPH LETTER, SIGNED, TO HIS BROTHER, SENATOR POWHATAN ELLIS OF MISSISSIPPI, EXPRESSING HIS GREAT "REGRET IF THE BANK BILL PASSES, IN ITS PRESENT SHAPE, IN OPINION I AM CLEAR THAT CONGRESS HAVE NO CONSTITUTION POWER TO CHARTER SUCH A BANK."

Richmond: 1832 [May 27]. [4] pp, bifolium, each page 8" x 9-7/8." All pages filled with Ellis's letter. One closed tear to the final leaf, without any loss. Very Good.

"I shall greatly regret if the Bank bill passes, in its present shape, in opinion I am clear that Congress have no constitution power to charter such a Bank, but one has been chartered & another likely to be, thus likely to be sadled with one. I feel anxious that it should be striped of its power to do the country commerce hurt, Politically, I have the greatest apprehensions on that score, and should we live to see the country again involved in War or any pecuniary difficulties. I predict most certainly the fatal consequences, already do we not witness as in this blamable Tariff principle, its pestilential influence, in the Legislation of every state, in the Legislation of Congress, in the Election of President & Vice President, in the Election of Members of Congress, in the movements of more corporate bodies, in short, its influences is injuriously fits throughout all society and particularly in the Exchanges both at home & abroad. It was particularly unfortunate that it went into operation at the close of the War because its friends claim for it the restoration of specie payment and a wholesome circulation in the country at this time … Thus it is that this fine country is torn into discontents, confusion, and eminent danger of disunion by legislating upon subjects that do not belong to the General Government…God grant some radical change in these things."
Contemporary Southern Democrats, like Andrew Jackson [unlike many Southern Whigs], opposed the recharter of the Bank of the United States, originally established under Alexander Hamilton as Secretary of the Treasury. It was rechartered as the Second Bank of the United States in 1816; its continued existence was a hot-button issue in the presidential election of 1832, with Nicholas Biddle, Henry Clay, and other Whigs championing the Bank's mission. Continued opposition by President Jackson and Democrats led to its downfall in 1836. Item #37703

Price: $500.00