But let us examine this ‘convenience,’ and see what it is.  The report on this subject, page 2, states the only general convenience to be, the preventing the transportation and re-transportation of money between the States and the treasury. (For I pass over the increase of circulating medium ascribed to it as a merit, and which, according to my ideas of paper money, is clearly a demerit.) Every State will have to pay a sum of tax-money into the treasury; and the treasury will have to pay in every State a part of the interest on the public debt, and salaries to the officers of government resident in that State.  In most of the States, there will be still a surplus of tax-money, to come up to the seat of government, for the officers residing there.  The payments of interest and salary in each State, may be made by treasury orders on the state collector.  This will take up the greater part of the money he has collected in his State and consequently prevent the great mass of it from being drawn out of the state.  If there be a balance of commerce in favor of that State, against the one in which the government resides, the surplus of taxes will be remitted by the bills of exchange drawn for that commercial balance.  And so it must be if there were a bank.  But if there be no balance of commerce, either direct or circuitous, all the banks in the world could not bring us the surplus of taxes but in the form of money.  Treasury orders, then, and bills of exchange, may prevent the displacement of the main mass of the money collected, without the aid of any bank:  and where these fail, it cannot be prevented even with that aid.

Perhaps, indeed, bank bills may be a more convenient vehicle than treasury orders.  But a little difference in the degree of convenience, cannot constitute the necessity which the constitution makes the ground for assuming any non-enumerated power.

Besides; the existing banks will, without doubt, enter into arrangements for lending their agency, and the more favorable, as there will be a competition among them for it.  Whereas, this bill delivers us up bound to the national bank, who are free to refuse all arrangements but on their own terms, and the public not free, on such refusal to employ any other bank.  That of Philadelphia, I believe, now does this business by their post notes, which, by an arrangement with the treasury, are paid by any State collector to whom they are presented.  This expedient alone, suffices to prevent the existence of that necessity which may justify the assumption of a non-enumerated power, as a means for carrying into effect an enumerated one.  The thing may be done, and has been done, and well done, without this assumption; therefore, it does not stand on that degree of necessity which can honestly justify it.