Front Page Titles (by Subject) CCLIX.: Thomas Jefferson: on the Constitutionality of a National Bank. 1 - The Records of the Federal Convention of 1787, vol. 3
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CCLIX.: Thomas Jefferson: on the Constitutionality of a National Bank. 1 - Max Farrand, The Records of the Federal Convention of 1787, vol. 3 
The Records of the Federal Convention of 1787, ed. Max Farrand (New Haven: Yale University Press, 1911). Vol. 3.
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Thomas Jefferson: on the Constitutionality of a National Bank.1
February 15, 1791.
It is an established rule of construction where a phrase will bear either of two meanings, to give it that which will allow some meaning to the other parts of the instrument, and not that which would render all the others useless. Certainly no such universal power was meant to be given them. It was intended to lace them up straitly within the enumerated powers, and those without which, as means, these powers could not be carried into effect. It is known that the very power now proposed as a means was rejected as an end by the Convention which formed the Constitution. A proposition was made to them to authorize Congress to open canals, and an amendatory one to empower them to incorporate. But the whole was rejected, and one of the reasons for rejection urged in debate was, that then they would have a power to erect a bank, which would render the great cities, where there were prejudices and jealousies on the subject, adverse to the reception of the Constitution.
[1 ]P. L. Ford, Writings of Thomas Jefferson, V, 286-287.