It may be said, that a bank, whose bills would have a currency all over the States, would be more convenient than one whose currency is limited to a single State.  So it would be still more convenient, that there should be a bank whose bills should have a currency all over the world.  But it does not follow from this superior conveniency, that there exists any where a power to establish such a bank, or that the world may not go on very well without it.  Can it be thought that the constitution intended, that for a shade or two of convenience, more or less, Congress should be authorized to break down the most ancient and fundamental laws of the several States, such as those against mortmain, the laws of alienage, the rules of descent, the acts of distribution, the laws of escheat and forfeiture, and the laws of monopoly.  Nothing but a necessity invincible by any other means, can justify such a prostration of laws, which constitute the pillars of our whole system of jurisprudence.  Will Congress be too strait-laced to carry the constitution into honest effect, unless they may pass over the foundation laws of the State governments, for the slightest convenience to theirs?

The negative of the President is the shield provided by the constitution, to protect against the invasions of the legislature, 1. the rights of the Executive; 2. of the Judiciary; 3. of the States and State legislatures.  The present is the case of a right remaining exclusively with the States, and is, consequently, one of those intended by the constitution to be placed under his protection.

It must be added, however, that unless the President’s mind, on a view of every thing which is urged for and against this bill, is tolerably clear that it is unauthorized by the constitution, if the pro and the con hang so even as to balance his judgment, a just respect for the wisdom of the legislature would naturally decide the balance in favor of their opinion.  It is chiefly for cases where they are clearly misled by error, ambition, or interest, that the constitution has placed a check in the negative of the President.

Th:  Jefferson.

February 15, 1791.