But if the mode of deducing his authority, and the mode of interpreting it, be extraordinary, the rules and motives which the Secretary supposes ought to govern him in its exercise, are more extraordinary still. He says: "It is not necessary that the deposites should be unsafe, in order to justify the removal." "The bank may be perfectly solvent, prepared to meet all demands, and faithful in the per performance of its duties, and yet the

[MARCH 18, 183

9th. It has paid for printing sundry reports and othe documents, defending the bank from various aspersions.

Such are the celebrated reasons. Why did he no sum them all up in one: "The bank has been suspecte of incivism."

Mr. W. said he would not analyze these exquisitely goo reasons in detail. To state them briefly, considering th proofs and arguments by which they are supported, wa public interest may require the deposites, to be with- to his mind, sufficient not merely to otherthrow butt drawn." "The public good good requires it!" Sir, how cover them with ridicule. It would be seen, that h comes an American President, or Secretary, by the language of a revolutionary tribunal, or a committee of public safety? And what more is this, sir? What is the

confined himself to the reasons of the Secretary alone He quoted the Secretary's own words: he argued from ha own statements; out of his own mouth he condemned him form of the syllogism, suggested by we know not whom; I have not thus far entered, said Mr. W., into the ques but, as we guess, from the eulogy and the eulogist, tion of who removed the deposites? The Secretary say adopted by the President, and avowed by his pliant Secre- he did it. The President says he did it. "I assume the tary. "The public good requires it!" The people responsibility." Now, sir, I have no objection to any per know I wish nothing but the public good, and the public sons taking all the responsibility that belongs to their sta good is every thing I wish. What does the public good tion, but let them beware how they deceive themselve

require in regard to an agent or instrument for the collection, deposite, and disbursement of the public money? That it should be safely kept, faithfully accounted for, and promptly paid over whenever and wherever required, in a medium of uniform value, as nearly as possible on an equality with gold and silver coin. On this head, I am happy to avail myself of an authority which will not

into the belief that they only assume responsibility whe they usurp power. But whether the deposites were re moved by the President, who, it is admitted on all hands has no right to do it, or by the Secretary, who says be has the exclusive right, deduced from an unconstitutions charter, and his accountability to the President, whe would have removed him if he had not removed them, s

be underrated by the chairman of the Committee of he had already removed another Secretary for not remor Ways and Means. It is the report of the minority of that ing them-I care not, just now, by whom or in whis committee at the last session. way it was done; my attention has been turned to a gra

"That the Bank of the United States has not the ver question, which overrides them all; and that is means of ultimately paying all its debts, no one will "Have any of them the power independent of Congress maintain. Whatever may have been its mismanage- Has any officer of the Government the right to assume ment, it is not to be apprehended that its bad debts the entire control of the public money, exempt from a are equal to its whole capital stock. But its ultimate accountability to the representatives of the States and th solvency is not the question for the consideration of people? This is what the Secretary of the Treasur the Government. The point to be considered is, whether maintains. His principal positions, stripped of all verbi it has been a prompt and faithful agent of the Treasury;

whether it has been able and willing to pay over the public funds deposited in it, upon demand, for the purposes of the Government; and whether it is now, and is likely hereafter to be, in a condition to do so."

Then, the only adequate reason thought of for the removal, was infidelity or incapacity in the agent. Now,

age, are simply these:

1. The power is exclusively with the Secretary. 2. He is accountable only to the President.

3. He must lay his reasons before Congress, but Con gress have nothing to do with the matter save by a new act of legislation. According to the train of his argument, they can nei

the only reason necessary, is "the public good requires ther return the deposites nor censure the Secretary it." The Secretary does not pretend that the Bank of and, according to the chairman of the Committee of Way the United States failed in any of these particulars. He and Means, this House is incapable-incapable from it admits that it was faithful, able, and safe; but he asserts very nature and structure of investigating the subject that his opinion of the public interest, and not the safety, and ought not to discuss it, until they have a report fron

fidelity, or ability of the bank, is the criterion for the exercise of his assumed power of removal. And what are the reasons he gives for believing that the public interest and convenience will be promoted by removing the deposites?

1st. The charter of the bank will expire on the 3d March, 1836.

2d. The law creating it, in many of its provisions, is unconstitutional.

3d. The manifestations of public opinion have been unfavorable to the bank.

4th. The bank opposed the President, and the President was elected in spite of the bank; ergo, the public interest and convenience will be promoted by a removal f the deposites.

5th. The bank enlarged its issues after General Jackson was re-elected: and it contracted its issues when the deposites were removed.

6th. The Government directors were not put on all the committees they chose.

that committee to enlighten them. According to th Secretary, we have no authority to decide; according t the gentleman, we have no capacity to investigate; wha then remains for us but to discuss? No one will doub our ability to do that; and if we are not permitted to d that, what have we to do? Are we merely to register th edict of the President, as signed by his Secretary an countersigned by the chairman of the Committee Ways and Means? Yes, sir, this we are told, almost terms, is all we ought to do. Another reason has late been found why we should not further discuss this matter The agitation out of doors is produced or inflamed by discussions here.

Sir, this is not the least extraordinary part of a very traordinary series of proceedings. At the last session committee were ordered to examine into the state of bank, and report on the safety of the public deposite They reported that the deposites, in their opinion, m safely be continued there: and they assigned their reaso which were adopted by nearly two-thirds of the Hous 7th. The bank insists on damages from the United The President, some time after, desired the depos States on a protested bill of exchange, as "the Gov- should be removed, and, in a celebrated paper read ernment" always insists on damages from individuals. his cabinet and published to the world, assigned his 8th. The bank has used its means with a view to poli- sons. Some of the cabinet differed, and assigned the tical power. reasons. He required obedience from the Secretary

MARCH 18, 1834.]

The Public Deposites.

[H. or R.

the Treasury, who refused, and assigned his reasons. came in on the 4th of March. May one, without presumpThe President turned him out without thinki thinking it neces- tion, interpret the augury? Does it mean that by the 4th sary to assign any reasons, and found a more obedient of March next, the policy of that report will be utterly Secretary, who removed the deposites as per order, and exploded; and by the 4th of March, two years thereafter, assigned all sorts of reasons into the bargain, even some there will scarcely be a fragment left of the party that that were thought of afterwards. And we, the Congress support it? If so, I accept the omen! of the United States, the constitutional guardians of the Notwithstanding the time I have already occupied, I people's money, are not to assign our reasons! We have must glance over this report. It embraces a great varino authority to decide-no capacity to investigate; and ety of matters. As to its display of historical knowledge, we are told we ought not to discuss till a committee en- it may establish the claim of the author to be Secretary lightens us! of the Treasury by Executive appointment, during the Sir, the committee have enlightened us. And in what recess, if the present Secretary be not confirmed. As to manner? For what purpose did gentlemen imagine the the three per cent. stock, the loans to printers, and the Secretary's letter was referred to the committee? Was it expense of printing, the affront to the Government dinot to report whether his reasons were satisfactory or other-rectors of not putting them on whatever committees they wise? Have they performed that duty? I voted against that choose-they have been so frequently repeated that one reference, because I understood the Secretary to have is inclined to say, with the honest Vicar of Wakefield, filed a plea to the jurisdiction. I understood him to assert when Ephraim Jenkinson begins his usual exhibition of that he was accountable to the President only, and that "Sir, the cosmogony or creation of the world, accordCongress had nothing to do with the matter. Such a plea, ing to the opinions of Sanconiathon, Manetho, and Berositting as a representative of the people on this floor, I will sus" - "I beg pardon, sir," said the Vicar, "for internever refer to any master in chancery whatever. I will rupting so much learning; but I think I have heard all decide it here and at once. Well, sir, and what have our that before."

committee reported? They have reported us an argument These charges, though most of them were repeatedly to be sure, but what are their conclusions? They argue investigated and condemned during two or three sucin support of the Secretary's plea. Dothey affirm it? They cessive sessions of Congress, have been reproduced in go beyond him in maintaining the absolute authority of the the celebrated cabinet paper, and are repeated in the Executive over the money of the people. But they are present report, for the sake, perhaps, of the ancestral careful not to put their argument in the shape of a dis- likeness. Their frequent repetition evinces a solicitude tinct proposition to be voted for by the people's repre- for their success, which could not be greater if it were sentatives, under their responsibility to the people. They paternal.

submit no resolution on the sufficiency of the Secretary's The committee seem surprised and scandalized that the bank should complain of a "violation of chartered rights,"

reasons.

The object of submitting the reasons of the Secretary and demand "redress" for such violation, as an "act of

to Congress is to enable Congress to decide on them. So says the President in his cabinet lecture.

"The only object of the provisions is to make his reasons accessible to Congress, and enable that body the more readily to judge of their soundness and purity," &c.

sons

no

The committee argue throughout the sufficiency of those reasons. They add, to be sure, other reasons of their own, which are unnecessary, if the reasons of the Secretary are sufficient: thereby tacitly admitting that the reaof the Secretary are insufficient: but they submit resolution pronouncing those reasons adequate or inadequate, though the only motive for assigning them to Congress is, that Congress should pronounce negatively or affirmatively on such a proposition.

Now, sir, I dare gentlemen to the issue; and, in saying dare, I mean nothing offensive. I intend only a fair, open, chivalric defiance. An invitation to try conclusions with as by argument and a vote of the House, on the single, simple proposition, that the Secretary's reasons are sufficient, or insufficient; I care not which. On that argument they have my gage before them. If they do not take it up, the inference is irresistible. Meanwhile, let us return to our report.

What say my honest friends from Pennsylvania to it? I hope I may be permitted to call them so. I have at all times had honest friends in Pennsylvania, with whom I was proud to act; and when I mention the name of GIL

justice."

That

I can readily conceive that the honorable chairman, whose work the report is presumed to be, has very imperfect ideas of the obligation of contracts and promises. I am not surprised, therefore, that "rights," "redress," and "justice," are words ungrateful to his ears. "the bank has, in all things, performed the stipulations of its charter," would be supposed by others to entitle it to reciprocal performance of the obligations of the Government; but, according to according the theory of the chairman, performance of promises on one side establishes no claim to performance on the other. What his practice may be I pretend not to determine. On that point I abide by the previous question.

Were it possible for me to feel surprise or terror at any thing tyranny can dare or servility applaud, I should experience both at the rapid progress of usurpation which we have been made to witness in a few short months.

The President began by requesting his newly appointed Secretary of the Treasury to remove the deposites, de claring "it was not his intention to interfere with the independent exercise of the discretion committed to him by law over the subject." The Secretary did attempt the independent exercise of his discretion. The President thrust him from office, and, "assuming the responsibility," exercised that authority over "the subject," which, according to his own admission, had, "by law," MORE, long my associate on the same committee, all who been "committed" to the Secretary. Still the President knew him will more than respond to the justice of the conceded, in the celebrated paper read to the cabinet, epithet. What say my friends from Pennsylvania? that, "according to the frame and principle of our GovThey were, some of them, voting very earnestly for the ernment, this decision [on the removal of the deposites] previous question, because the people at home were for would seem more properly to belong to the legislative Juction, and expected impatiently the great remedy of the power." And in the same paper, speaking of the Sec

Committee of Ways and Means. They have got the panacea. Do they find the patient better? Are the symptoms relieved? If not, is it not time to reflect whether There is most danger from the disease or the doctors?

"Plus a medico quam a morbo periculi."

Sir, I am an observer of days and times. This report

retary, he says, "The provision that he shall report his reasons to Congress is no limitation. Had it not been inserted, he would have been responsible to Congress, had he made a removal for any other than good reasons, and his responsibility now ceases upon the rendition of sufficient ones to Congress."

H. or R.]

The Public Deposites.

[MARCH 18, 183

which American representatives use towards an America President and Secretary!

In another part of the same paper, he asserts it to be plain here, with mawkish sensibility, of the free languag "the duty of one of the Executive Departments to decide, in the first instance, subject to the future action of the legislative power, whether the public deposites shall remain in the Bank of the United States."

The style and spirit of all these documents, from th veto message to the report of the committee, are, in m

In the annual message is first darkly hinted that Ex- judgment, highly exceptionable. They have a generi ecutive irresponsibility which the new Secretary, in his similitude. There is, throughout, too little calm reason. reasons, timidly asserts, and the committee, in their re- too little of sober and enlightened experience; and to port, openly maintain. This is the passage, in reference much appeal to the more ignoble passions. Instead to the judgment to be passed: "It will be for those in clear-sighted, deep-searching, and far-reaching sagacity whose behalf we all act, to decide whether the Executive we have the incarnate spirit which practises on popula department of the Government, in the steps which it has delusions, and has been the ruin of all republics. Th taken on the subject, has been found in the line of its Demus of the old Greek comedy, the Agrarians of Rome duty." The intimation given is, that such decision is for the disciples of Spence in England, and the Jacobins i "the people," not the representatives of the people. France, held similar language. It is the first time, how And in what way are the people to decide? Is it by another election of President?

The new Secretary, as in duty bound, improved upon this hint. He too, however, admits that the power was Legislative, but has become Executive; and insists that, for its exercise, he is accountable to the chief Executive

officer alone.

ever, I believe, that we have seen the Chief Executiv Magistrate of a free and intelligent people made to tal and act Jack Cade.

For myself, that part of the present system of admini tration which tends to keep the President in ignorant of the truth, and to encourage and perpetuate the decef tion of the people, has my especial detestation and abho

The committee, imboldened apparently by the passive-rence. Sir, I sincerely believe the President is deceiveć

rest and the President's fame.”

"no

Such a system can be continued only by the worst it struments, for the worst purposes; and while indignatio

ness with which all this had been received, or encoura- I believe, with his late Secretary of the Treasury, ged, perhaps, by seeing petitioners flocking to the Presi- only that he is not in the hands of his constitutional at dent instead of Congress, are daring enough to assert that visers, but that their advice is successfully resisted b the power of designating the place of deposite for the persons whose views are at variance with the public inte public money was originally an Executive power, has always been an Executive power, and still is an Executive power! Thus, in six months, has a portion of power, involving the safe-keeping of the whole public treasure must be excited by the public sufferings which thos at the commencement of that period, admitted by the unworthy favorites produce, it is mixed with pity for th President and his Secretary to be a "Legislative power," unfortunate and deluded being who is duped by th temporarily delegated, to be exercised under responsi- basest of his servants, because they flatter and inflame la bility to Congress, been converted into an Executive passions. power, to be exercised nominally by the Secretary, really "Multi reges ut pupilli, non regunt sed reguntur." by the President, without any responsibility save to the people, a pre-approval of whose acts is inferred from his Under sinister influence, as I am persuaded, this whe election. If it is an Executive power, why do they come scheme has been conceived, commenced, and prosecuted to us to legislate for its exercise? Does the President, in a spirit of trickery and deception. The late Secretar or Secretary, feel that they require a bill of indemnity? of the Treasury was invited to accept office, withou Sir, no British minister would have dared to do what knowing what was expected of him. There is now th they did, without asking for one. I remember no paral- clearest evidence that the removal of the deposites wa lel case in British history, but the suspension of specie predetermined. When he refused, another was appointed payments by order of council, during the ministry of and that other assigned, as reasons, occurrences happen William Pitt; and, for that act, a bill of indemnity was brought in.

ing after the resolution to remove was taken. The Pre sident, in his message, says:

"Since the last adjournment of Congress, the Secr tary of the Treasury has directed the money of t United States to be deposited in certain State bank

And how was that measure characterized by one of England's noblest patriots? "It was certainly most true," said Mr. Fox, "that, in passing this bill, they were enacting robbery and fraud; for robbery and fraud designated by him, and he will immediately lay befor it was, in direct and heinous characters; but it had now you his reasons for this direction." And, subsequenth become an imperious necessity, that the illegal order of "As, by the terms of the bank charter, no officer be council, which had been illegally obeyed, should be con

tinued for a limited time by the force of a statute.

"The reasons given by the Solicitor General in justification of the measure, and his description of the character of the bank, were additional alarms to his mind. According to his doctrine, the public establishment of the bank was the creature of Government, over which they might exercise whatever power the policy of the moment might dictate; for it was originally created for their use, and to be obedient to their pleasure.

the Secretary of the Treasury could remove the depo ites," &c.

In the paper read to the cabinet, he declares, " begs the cabinet to consider the measure as his ownresponsibility has been assumed."

Which of the President's declarations are we to believ The whole proceeding furnishes numerous examples duplicity, and departure in pleading.

In the first instance, the fact of alarm and distress w ridiculed with equal wit and judgment. Next, the fi

"He deprecated all these false and fatal doctrines; all was admitted, after it became undeniable, and then th these deviations from the simplicity of rectitude from bank was blamed. It has been made to appear that t the morals of the constitution. They were as detesta-reduction of loans by the bank, up to the 5th Marc ble in their character, as they must be ineffectual in has not been so great, by upwards of four millions, as t their practice. They would serve only to plunge us reduction of deposites; and that, from the 1st January into ignominy, as they had already precipitated us into the 1st March, there has been an actual increase in t ruin, and leave us bankrupts in fame as well as in for- loans of the bank of more than a million and a quarte tune." This accusation against the bank, of having occasione These are the terms in which a British commoner stig- or increased the public distress, is now decisively refute decisive matized the act of a British minister; and gentlemen com- It has passed out of reputable circulation, into the han MARCH 18, 1834.]

The Public Deposites.

[H. or R.

of those who emit all the arguments they hear, without addition, he would remark that he had been long acreference to quality. quainted with the gentlemen composing that delegation, What next? The distress is acknowledged and justi- and he knew them to be incapable of appending their fied. "The failures that are now taking place," says names to any statement, of the correctness of which the President, "are among the stock-jobbers, brokers, and gamblers, and would to God they were all swept from the land!"

The speeches of the opposition, according to certain administration orators, have produced all the distress, and all the petitions! If speeches are so effective, how comes their effect to be so disproportionate? If our speeches can produce distress, why cannot theirs allay it?

Sir, in this House, the gentlemen who complain of our distressing speeches have the power. Why do they not use it to relieve the country? They can put an end to

they were not well assured. They were neither officeholders nor office-hunters, and, therefore, could have had no motive in lending themselves to any misrepresentation of facts.]

Mr. W. continued: He rejoiced that they had thus at last obtained authentic evidence of the President's language and opinions.

Among the extraordinary delusions under which the chief Executive officer seems to labor, one not the least extraordinary is, that the Bank of the United States has withdrawn thirty-five millions of dollars, during the last

our speeches whenever they choose. But, instead of autumn, from the South and West. Now, sir, it is devising any effective remedy, they rebuke the people known to every one but the President that the whole for making known their distresses. What is this but reductions of the bank, from the 1st of October to the saying, "Be silent, wretches, your groans disturb the 1st of March, was short of four millions.* Emperor!"

The President says that all who trade on borrowed capital will break, and ought to break. If it be true that bankruptcy awaits all who have obtained more credit than they deserve, he, and his present counsellors, will be the first gazetted.

Whatever course of conduct the bank adopts in relation to its discounts is sure to be disapproved by the President and his friends. When the bank had increased its loans in consequence of its increased ability to lend, and the increased disposition of the public to borrow-what was the cry? The bank is unsafe! Its Western debt is enormous and insecure. It lends too much in the valley of the Mississippi, and extends no accommodation elsewhere; the deposites should be withdrawn. This is the purport of the minority report of last session, (Rep. pp. 14, 15, 17, 40.)

Even his scheme of a metallic currency is borrowed. What is good in it is not new, and what is new is not good. One of the extraordinary spectacles to which the present state of things has given rise, is the fruitless attempt which has been made to open the eyes of the President, by means of petitions and deputations. It is the The deposites are withdrawn, and the bank makes prefirst time, in my memory at least, that the people have paration as slowly and gently as possible to wind up its passed by Congress to invoke the compassion of the Pre- affairs. The people carry their complaints to the Presdent. We have made one step towards a monarchy, sident. "Go to Biddle! Did I tell him to withdraw when petitions are addressed, not to Parliament, but to thirty-five millions from the valley of the Mississippi?" the throne. And how were they received? How did he If the bank went to electioneer in the valley of the treat his white children who had come so far to have a Mississippi, what degree of political influence could it talk with their great father? Let them answer for them-hope to purchase among those small States there? It men were to be bought, why not bid for some State which (Mr. WILDE here quoted several portions of the re- has votes enough to turn the scale? Is the valley of the ports of the committees of citizens from New York, Philadelphia, and Baltimore, of their interviews and conversations with the President. For these extracts, see the end of the speech.]

selves.

Sir, said Mr. W., I desire it to be distinctly understood, I take no pleasure in repeating the description of scenes

Mississippi alone venal?

Sir, I have no idea that the bank wished to buy men, or that any great quantity of them are in the market in any part of our country. But if there be, the shambles certainly are not in the Southwest. Larger quantities and better bargains may be found elsewhere.

calculated to discredit our country and its institutions. Let us pass to the report of the Committee of Ways But the time is past for reserve and delicacy. We must and Means. The committee, with a most ominous caution, speak the truth. It should be the truth only, however; abstain from saying that the Secretary of the Treasury is, and, if the people cannot get at that, it shall not be my for the exercise of his power in relation to the public defanit. Sir, the report of the Philadelphia committee has posites, answerable to Congress. They do not venture been impugned as the offspring of party spleen. The to say in express terms that he is not answerable to Congeneral concurrence of all the reports is a presumption gress. That doctrine would be too startling. The peoin favor of their general correctness. The high personal ple of the United States are not yet ripe for it. What character of the individuals who composed those delega- they do say is, "To pronounce a decision upon the act tons, is a guarantee for the truth of any statement they and the reasons which superinduced it, appertains excluwould make; but we have here an opportunity of obtain- sively to the Government."

ing distinct and direct evidence. The honorable gentle- Now, sir, what is this ambiguous, hybrid, mongrel man from Maryland, [Mr. HEATH,] long a devoted friend creature, "the Government?" of the President, but more, I am sure, the friend of truth Again: "No Congress has yet been found so improvithan the friend of any man, accompanied the Baltimore dent as to transfer from the Government the power to delegation. I regret to perceive that the gentleman, determine what currency it will or will not receive in Usually so diligent in his attendance on this House, is not payment of the public dues, and to select at will the this moment in his seat. It was my wish to have in- depositories of the public funds." So, then, not only the gured of him whether the statement given by them was, power to select at will the depositories of the public In every important particular, substantially true? [Just funds, but the power to determine what currency it then Mr. HEATH entered, and Mr. WILDE repeating his will or will not receive, belongs to " the Government." observationsThis would be the natural inference from the language of Mr. HEATH said he was himself present at the inter- the committee. But they elsewhere distinctly admit that New between the President of the United States and the the right to prohibit the receipt of the notes of the bank delegation from Baltimore, and he had no hesitation in belongs to the legislative authority, by virtue of the 14th asserting, so far as it relates to that interview, that their

report was substantially correct in every particular. In

H. or R.]

The Public Deposites.

[MARCH 18, 1834.

section of the bank charter. The question still recurs, sage and cabinet paper, and afterwards Secretary of the If the right of determining what currency shall be receiv- Treasury, and chairman of the Committee of Ways and ed belongs to "the Government," how did Congress get Means, he could not have produced four papers more hold of it? And, on the other hand, if the right of desig- "germane" to each other in sense, style, and spirit. nating the depository of the public money originally be- Let us compare these points of resemblance, which, as longed to Congress, how came it in possession of "the mere accidental coincidences, are perfectly marvellous, Government?" By what means did Congress by what It is not the Fourth Auditor only, who always has the means could Congress alienate a portion of their legisla- happiness to think like the President. For example:

tive power? Again, I ask, what is "the Government?"

The cabinet paper says:

I know of no attempt to define it, but Major Downing's,

"The President considers his re-election as a decision

mistaken. There are worse men in it than either.

The Secretary, in his letter, says:

"And I have always regarded the result of the last election of the President of the United States as the decla

who says, "it is I and the Gineral;" but he is certainly of the people against the bank."

If we cannot ascertain what constitutes "the Government," let us try whether we can learn what sort of "Government" it is. The patriot whose words I quote, ration of a majority of the people that the charter ought fell, in popular tumult, by the hands of his enemies. Yet, not to be renewed." "The question of the renewal of in spite of every effort to stain his memory, impartial his- the charter was introduced into the election by the cor tory records they could fasten upon him no crime but poration itself." "It was accordingly argued on both hostility to the house of Orange. "By the word monar- sides before the tribunal of the people, and their verdict chy and monarchal rule, I mean such a state wherein only pronounced against the bank by the election of the canone person, though without right, yet hath the power to didate who was known to have been always inflexibly cause obedience to be given to all his orders, resolutions, opposed to it."

and laws, or to suspend or hinder all orders, resolutions, and laws of the true and lawful highest assembly, that they be not executed, and this according to his own will and pleasure."*

The committee say:

"The corporation itself has made the renewal of its charter the leading question in the late contest for the Presidency. It had procured from Congress the pas

The Government, sir, what is the Government? I have sage of a bill to renew the charter, and elicited a veto looked through the constitution, I find no such term there. from the President." "It was signally defeated, and Mention is made of "the seat of Government" and of "a the President triumphantly re-elected. This result could republican form of Government," but of "the Govern- not be otherwise considered than as a verdict of the peoment"-republican in form-to which "it appertains ex-ple in favor ofthe veto, and against the bank." clusively to pronounce upon the act" of laying hands up- The President, in the paper read to his cabinet, says:

on the public money, I find no mention. What do gen-
tlemen mean by "the Government?" The term is of re-
cent origin. We have long been accustomed to hear of
the Legislature, Congress, the Senate, the House of Rep-
resentatives, the Executive, the Judiciary, the heads of
Departments, the cabinet, and the administration. "The
Government" can be none of these, or a new mode of de-
signating it would be unnecessary. It has no precise
meaning in itself; for, if a courtier of the age of Louis the
XI. had been asked what was "the Government," and the deposites is unqualified."
he had dared to answer, he would probably have replied,

"Of all the substitutes for the present bank which
have been suggested, none seems to have united any con
siderable portion of the public in its favor."
The committee say:

"The King, Oliver le Diable, Tristan l'Ermite, and Petit André." Nor is this the only instance of ambiguity, apparently studied, which the report of the committee presents. Nimia præcautio dolus.

They speak of "the reasons which superinduced" the act," not the reasons which induced it. Now, sir, induce is to cause; superinduce is to bring in, or upon, as an addition to something. Are we to understand that the

"Of all the schemes suggested, none seem to have met with any considerable portion of favor from the people."

The President says:

"The power of the Secretary of the Treasury over

The committee say:

"The power reserved to Congress to discontinue the receipt of the notes of the bank in 'payments to the United States,' is absolute and unqualified. In like manner, the power of the Secretary of the Treasury, for reasons which he is required to report to Congress, to employ other depositories of the public money, is equally absolute and unqualified." The President says:

reasons which induced this act were the reasons which "The provision that he shall report his reasons to Con Mr. Whitney first, and afterwards the President, gave to gress is no limitation. Had it not been inserted, be Mr. Duane, and which were afterwards read to the cabi- would have been responsible to Congress had he made net? Is it intended that the reasons superinduced upon a removal for any other than good reasons, and his re it, are the reasons given by the present Secretary of the sponsibility now ceases, upon the rendition of sufficient Treasury to amuse Congress, who have no authority to ones to Congress."

decide on them, that being a province of "the Govern- The committee say: ment," while the true reasons-the reasons which indu"He had the same legal power, after the passage of ced it--are like the act itself, according to the President's this act, to order and direct the public deposites to be declaration, "his own," done upon his "responsibility," made in other banks, as he had before. An additional and only to be discussed by the people who have re-elect- duty was imposed upon him; but how can this require. ed him? A trim reckoning!

ment impair his power? Had the clause requiring the

In speaking, as I shall have occasion to do, of the veto reasons to be reported been omitted, could it have been message, the report of the Secretary of the Treasury, doubted that the power of the Secretary to cause the and that of the Committee of Ways and Means, I do not deposites to be made in other banks would have been mean to say, or insinuate, that they are not each, several- absolute and unqualified?" "The change effected in ly, from the pen of the proper person by whom they re- his position is, that he is now bound by law to give his spectively purport to have been written. But I will say reasons, without a special call. But the giving of his this: if one and the came person had been the Presi- reasons now, after the act is done, can no more affect dent's private secretary, when he penned the veto mes- his power to do it, than giving his reasons then, under a special call of Congress. And his duty to act only for good reasons, and his liability to be punished for mea