What other power does it have? The letter states that the power is as it was understood by the people who transferred it, at the time the transfer was made. According to Madison, this is the only power known to them at that time.
Moreover, you arguing that the implications of Madison's arguments are that Congress can regulate interstate commerce "for the positive purposes of the country". Madison explicity says the Commerce Clause was not intended for the positive purposes of the national government. You are arguing that the positive purposes of the national government are not the positive purposes of the nation. Care to explain what the difference is?
It may restrict commerce. It may prohibit commerce.
"for the positive purposes of the country" = "for the positive purposes of the nation" = "for the positive purposes of the national government". I equate all three.