3880. INCORPORATION, Federal Convention and.—
Baldwin of Kentucky, mentions
at table the following fact: When the Bank bill was under discussion in the House
of Representatives, Judge Wilson came in,
and was standing by Baldwin. Baldwin reminded
him of the following fact which
passed in the grand Convention. Among the
enumerated powers given to Congress was one
to erect corporations. It was on debate struck
out. Several particular powers were then proposed.
Among others, Robert Morris proposed
to give Congress a power to establish
a National Bank. Gouverneur Morris opposed
it, observing that it was extremely
doubtful whether the Constitution they were
framing could ever be passed at all by the
people of America; that to give it its best
chance, however, they should make it as
palatable as possible, and put nothing into it
not very essential which might raise up
enemies; that his colleague, Robert Morris,
well knew that “a bank” was in their
State (Pennsylvania) the very watchword of
party; that a bank had been the great bone of
contention between the two parties of the
State from the establishment of their constitution,
having been erected, put down and
erected again as either party preponderated;
that, therefore, to insert this power would instantly
enlist against the whole instrument the
whole of the anti-bank party in Pennsylvania;
whereupon, it was rejected, as was every
other special power except that of giving
copyrights to authors and patents to inventors,
the general power of incorporation being
whittled down to this shred. Wilson agreed
to the fact.—
The Anas. Washington ed. ix, 191.
Ford ed., i, 278.
(1798)
