Page:Writings of Thomas Jefferson, III, IV.djvu/179

Opinion against the constitutionality of a National Bank. February 15, 1791.

The bill for establishing a National Bank undertakes among other things:&mdash;
 * 1) To form the subscribers into a corporation.
 * 2) To enable them in their corporate capacities to receive grants of land; and so far is against the laws of Mortmain.
 * 3) To make alien subscribers capable of holding lands; and so far is against the laws of alienage.
 * 4) To transmit these lands, on the death of a proprietor, to a certain line of successors; and so far changes the course of Descents.
 * 5) To put the lands out of the reach of forfeiture or escheat; and so far is against the laws of Forfeiture and Escheat.
 * 6) To transmit personal chattels to successors in a certain line; and so far is against the laws of Distribution.
 * 7) To give them the sole and exclusive right of banking under the national authority; and so far is against the laws of Monopoly.
 * 8) To communicate to them a power to make laws paramount to the laws of the States; for so they must be construed, to protect the institution from