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TIjo trunk was now tin? universal subject of tall:, botli inside aud uut»iue, and every body] *aid lie wo- ' i'O surprised it it to its jour ney's e: .1 safety. All agree-i tli.it it ntani-. ,t most extraordinary disposition to be h stolen, or strayed, but yet every one J tltought that there was a kind of special pr.ovi- : deuce about it, which kept it on the right j road after all; and, therefore,'it Became.a lair ubjcct of debate, whether the chances against, or'tlil' chances for, were likely to prevail. Before we arrived at Newport^<veJ)ad to go on board the ferry steamboat for Dundee, the conversation bad gone into other channels, and, each being-engaged about his own concerns, no one thought any more about the trunk, till just as the barrow, was descending along- the tper, the eternal lot.;: man cried our— 'Guard, have you got my trunk V ‘Olt, yes,’ cried tluo guard promptly, ‘I’ve taken care of it now. There it is on the top. til rtU.’ ‘It’ no such thing,’ cried a gentleman who had come -into the coach at Cupar; ‘that’s mj trunk.’ .Every body then looked about for the on* ’chanted trunk ; the guard ran back, and once unotE searched the boot, which ho knew to have been searched to the botopn before; and the tall gentleman gazed over land, water, and : sky, in quest of his precious encumberance. 'Well guard,* cried he at length, ‘what a pretty fellow’ you are! There, don’t you see!' —there’s my trunk thrust into iho shed, like n piece of lumber. And so it really was. At "the head of the pier at Newport, there is a shed with seats with in where people wait for the ferry-boats; and there perdu beneatli a form, lay the enchanted trunk, having been so disposed, in the bustle of unloading, by means which nobody could pretend to understand. The guard, with a half-frightened look, approached 'the awful object, and soon placed it with the other things on board the ferry-boat. On our landing at Dundee pier, the proprie tor of the trunk saw so well after it himsi If, that it was evident no accident was for this time to be expected. However, it appeared that this was only a lull to o«r attention. The tall gentleman was to . go to Aberdeen by a coach then just about to start'froni Merchant’* Inn, while I, for my part* was to'proceed by a- nothtr coach, which was about to proceed froni tW same place to Perth. A great bustle 'took place in the narrow street at the inn door, and somo of my late fellow-travellers were getting into tlte one coach, and some into the other. The Aberdeen coach, was soonest prepared to start, and, just as the guard cried ‘all’s right,’ the long figure devolved from the window’, and said, in an anxious tone of voice— 'Guard, have yon got Iny trunk!’ ‘Your trunk, sir!’ cried the man; ‘what like is your trunk? we have nothing here but bags and baskets.’ ‘Heaven preserve me!’ exclaimed the un fortunate gentleman, and burst out of the coach. It immediately appeared that the trunk had been deposited by mistake in the Perth, in- stead-of the Aberdeen coach; and unless the owner had spoken, it would havo been,’in less than an hour, half way up the Carso of, Gc w- rie. A transfer was immediately made, to the no small amusement of myself and oho ‘or two other persons in both coaches who had. witnessed its previous misadventures bn the road through Fife. Seeing a friend on 'the Aberdeen vehicle, I took an opportunity of priv.vHy requesting that he would, on arriving at iiis destination, send me an account by post of all the further mistakes and dangers which were sure to befall the trunk in the course of the journey. v To this he agreed, and, about a week after, I received the folic wing letter: “Dear —, “All went well with myself, my fellow-trav ellers, and the Trunk, till we got a few miles on this side of'Stondmven, when, just as we wero passing one of the boggiest parts of the whole of that boggv road, an unfortunate lurch threw us over upon onQ side, and the exterior passengers, alone with several liesvy articles of luggage ; were all projected several yards off into the morass. As the place was rather soft, nobody was much hurt; but, after every thing had again been put to rights, the tall man put some two thirds of himself through tho coach window, in his usual manner, and asked the gmrd if lie was sure his trunk was safe in the boot. “Oh, sir!’ cried the guard, as if a desperate idea had at that moment rushed into his min’d,- the trunk was on the top. Has nobody seen it lying about any where?” “If it be a trunk ye’re looking after,’cried a rustic, very cooly, ‘I saw it sink into that wool eef of a quarter of an hour syne.’ “Oil! exclaimed the'distracted owner, ‘my trunk is gone for ever. Oh my poor dear trunkSrAvhere is the place, show me where it disappeared.’ “The place being pointed out, .he rushed madly up to it, and aocmed as if he would have plunged into the watery- profound to s 'nrc! for hi lost property, or die in the at tempt. Being inTcrmed that Hie hogs in this part of tho country were perfectly bottomless, I • soon aw how'vain every endeavour of that kind would be; and so he was with difficulty induced to resume his place in *he coach, loud ly threatening, however, to make the proprie tors of the vehicle pay sweetly for his ioss. “\\ hat was in the trunk, I have not been a- ldc to learn. Perhaps tho title-deeds ofan es tate were anions tlie contents: perhaps it was only filled with bricks and rags, in order to im pose upon the iukeepers. In all likelihood, the mysterious object is still descending and descending, iiko the angel’s hatchet in Rabbi nical story down the groundless abyss; in which case its contents will not probably be re vealed till a groat many things of more import ance and equal mystery are made plain.” ’Not innocent—a plwase applied by the com mon people in Scotland to any thing which they suppose invested with supernatural powers of a noxious kind. fTho orifice of a deep pool in a morass is so callcJ in Scotland. UNITED STATES BANK. power; for jl»«-purpose of framing”new systems. f'rou. :/u J) « : be. it is proper tor him seasonably- to consider the If has been generally ku-nvu for some motility' means by which the services rendered by the pa-t that the propriety ol withdrawing the pub- j Bank of (Le United States are to be performed lie depositee from the Batik ot the United^ States | after its charter shall expire. was under consideration and t-itg'arod much* of tho attention of ti.u President and of the different members of Ids Cabinet, all of whom, had been called upon by the .President to rt—.at him iu his deliberations on this subject. After ti very Full aud careful examination, the President came lb the conclusion that the public deposites ought to Iio chahged to tho State Bunks, and his opin ion! was communicated in writing to his Catmint on Wednesday last, at n meeting held specially for that purpose, and the facts aud reasons on which ft was fotiuded. As public attention has* been drawn to this subject, it is decerned proper, iti order,to prevent misuiider.staodiug or misrep resentation, to lay bcfpvc the people tho commu nication made by the President as above men tioned, and a copy has been furnished - to us 'frir that purpose, which we now prococd to publish. Head to the Cabi.neT on the 16th of Sept. 18311. Having carefully aud anxiously considered all the facts and antutnePts, which have, been sub mitted to him, relative to. a rcrnoVaPof the public deposites from tho Bank of-the Ihiited States, the President deems it Ins' duty, to communicate in this manner to his Cabinet the filial conclu sions of his own mind, and the reasons on which they are founded: iu order tojuitthem iu durab.O form, and to prevent misconceptions.' The President’s convictions of the dangerous tendencies of the Bank of tho United Statei, siuco signally illustrated by its own nets, weie so overpowering-when'die entered upon the du- lies of Chief Magistrate, that he felt it his duty, notwithstanding the objections of the friends ty whom he was surrounded, to avail himself of tl o first occasion, to call the attention of eongreis and the people,.to the question of its re-cifartcr. The opinious expressed in his annual message of j Tho existing laws declare, that “tho deposites of the money of the .United -States, ih places in 'which the said Hank and branches thereof rnav be established, shall be made in said Bank or branch es thereof, unless the Secretary of the Treasury shall at any time otherwise order and direct, iu which case the Secretary of the Treasury shall immediately lay before congress, if iu. sess ion. and if not, immediately after the commence ment of the noxt session, the.reason of such order or direction.” The power cT the Secretary of the Treasury over the dcpoVttcs, is unanobfiei. The. provis ion that he'fchall-report fn* reasons" to congress, is ntv limitation. Had it nut been inserted, he would have been responsible to congress, had he made a removal for any. other than good rea sons. and his responsibility now ceases,‘upon the 'rendition ofsuffieicul ones to congress. The on ly object of the provision, is to make his rcaSods nccossible to-congress, and eiiabltj thau- body the more readily to judge of their souhdhess and purity, and thereupon -ttr make.such.further pro-, vision bylaw ers the legislative' power fnay think proper in relation•Ufc’Jnq deposites of the public money.' 1 Those.reasons may faekVcry diversified. It was asserted by the Secretary of tho Treasu ry without contradiction, as early. aa-l 817', that Jiohad -power “to cpiftroptiic" procecdruge” *of the Batik of the United States at any •moment,• “-by changing the deposit^ to tho State Bant s,” should it pftrsue an illiberal et ui se towards those institutions'; that .“the Secretary of (ho Treasu ry will always bo disposed To support the cretlit of the State Banks', aud will invariably direct transfers from the dejuisite's'of the public tiUnfey iu aid of their legitimate exertions to maintain their credit; atfd he'asserted a right xo employ December, 1329. were reitera ted in those of . Du- j the'State-Banks wheii'the Jlauk of the United cember. 1830 aud 1831, aud in lhatbf I{}30, l.o States should refuse, to receive on deposite .the threw out Tor consideration, sots* suggestions, u uotes.of such Stale Banks as the public'interest relatiou to a substitute. At the session of 1831-2 : required, should be received in- payment of. the nil act was passed by a majority of both Houses public dues. In several Instances he did transfer of Congress re-chartering tbo present bank, open tbe public deposites la State Banks, iu the im- wliicb the President felt it his duty to put his mediate vicinity *of the branches',.for reasons con- oy Wo understand that at the late .Supe rior C..m t for Fayette County, Col. Finly C. Stewart was tried for killing Mr. Leonard., 1 ii“ Ir.al lasted two days and resulted iu Stew- ! art’s acquittal.—Sout/i'crii Banner. i constitutional -veto.- In his message, rctitntii g that act, he repeated aud enlarged upon tho prin ciples and views briefly asserted in ht3 annr.al messages, declaring the bank to he, in bis opi l- inn, both inexpedient'and unconstitutional, a’tid announcing to bis countrymen, very uaequivoetl- ly, bis firm determination never to sanction, by his approval, tbe coutiuuance of that institution nr the establishment of auv other upon simi! ar principles. - *' , ,' ' ■ There arc strodg reasons.for believing that t ie motive of the Bank in asking for a rc-charicr at that scssiou of congress, was to make it a Icadng' qucs'iou in the election of a Prcsidenl of ihc J- nited States the ensuing November, aud all steps deemed necessary, were taken to procure frem the people, a reversal of the President’s decision. Although tbe charter was approaching its ter mination, and the Bank was aware that it was the intention of the Government to use the pi li ke deposite as fast as It accrued, in the paynit nt of the public debt, yet it did extend its loans from Jam 1831, to May 1832, from 842,402 301 24 to $70,428,070 72, being an increase of $23,025,7OG 48, in sixtee'n months. It is'confidently believ :d, that the tending object of this immense extension of its loans; was to bring as large a portion of die people as possible under its power aud infiuunre; and it has been disclosed, that some of the largc-st sums wore granted on very UtiUstta! terms to cm-- doctors of the public press. In sqme_ of these cases, tho motive was rnado manifrst by the-no minal or insufficient security taken forthe loans, by the large'amounts discounted, by the extraor dinary time allowed for payment, and especially by the subsequent conduct of those receiving the accommodations. Having taken theso preliminary,steps to ob tain control over public opinion, tho Bank camo into congress aud asked a new charter.' Tho ob ject avowed by many of the advocates of'the Bank, was -to put the President to the tesi, that the,country might know,his final determination relative to the iSank prior to the ensuing election. Many documents and articles were printed aud circulated nt the expense ol the Bank to bring the people to a favorable decision upon its, pre tensions. Those whom the- Bank appears to have made its debtors for the special occasion, wero warned of tho ruin which awaited them, should the President be sustained, and attempts were made to alarm the whole people byjiaiut- ing tho depression in.the price of property' and produce, and the general loss, inconvenience aud distress, which it was represented would imme diately follow the re-election of. the President in opposition to the Bonk. Can it now be said that tho question of a re charter oFthe Bank was nqt decided at the elec tion which ensued ? Hud tho veto been equivo cal, or had it uot covered thoJyvholo ground—if it had merely taken exceptions to the details of the bill, or to the time of its passage—ifit'hud not met tho whole ground of constitutionality and expediency, then there might have been some plausibility for the allegation that tho question was not decided by the people. It was to com pel the President to take his stand that the ques tion was brought forward at that particular time, lie met the challenge, willingly took the position into which hi3 adversaries sought to force him, and frankly declared his unalterable opposition to the Batik, as being both unconstitutional aud inexpedient. On that'ground tho case was argu ed to the people, and now that tho people have sustained th<- President, notwithstanding'the ar ray of influence, and power which was brought to heat upon him, it is too ’ate ho confidently thinks, to say that the question has hot been de cided. \V hntever may bn rh'd opinions of others, the President considers his rc-elcction-as a-decis ion of tbe people against the Bank. Iu the con cluding paragraph of his Veto Message lie said : “I have now don; my duty to'my country. If sustained bv my fellow citizens, I shall be grate ful and happy ; if not, 1 shall find iu the motives which impel me, ample grounds for contentment and peace.” • He was suttaiflled by a just people, and be de sires to evince Ins gratitude by carrying into effect their decision, so far as it depends upon him. Of all the substitutes for tho present Batik which have been suggested, none seems to have united any considerable portion of the public in its favor. Most of them aro liable, to the same" constitutional objection for which tho present Bank lias been condemned, and perhaps to all there aro strong objections ou tho score of expe diency. In ridding the country of an irresponsi ble power which has attempted to control tho Government, efiro must be taken not to unite the same power with the executive branch. To givo the President the control over the currency and the power over individuals now possessed by tbe Bank of the United States, eveu with the materi al difference that he is responsible to the people, would he as objectionable and as dangerous as to leave it as it h*. Neither the one nor the other is necessary, aud therefore, ought not to bo re sorted to. On the whole, the President considers it as conclusively settled, that the charter of the Bank of the. I nitial States will not be renewed, end ho has no reasonable ground to believe that any sub stitute will be established. Being htiund to reg ulate tiis course bythelawbas ihey exist: and not to aulicipaictho interference of dm Legislative qecteibonly with the safety of those Banks, the public convenience ami the interest of the Treas ury. . * - • If it was lawful for-Mr. Crawford,-the Secre tary of the Treasury, at that tune, to net on these principles^ it will he difficult to discover any sound 'reasou against tbe-application'of similar principles' in still -stronger cases. Aud it is a matter of surprise that a power Which, in thtj in fancy of the'Bank, was freely asserted as onyof tho orcliuary aud familiar duties of the Secretary of the Treasury, should now bograycly.'quest»oa- ed, and attempts rn ida to excite aud alarm the public mind as if some new ami unheard of pow er was about to lie usurped by the Executive branch of the government. .s‘. U is hut c little more than two atiil a half ye.ark to. the termination of the .charter of the jirosent Bank. It is considered as the decision of the country that it shall. then cease td exist, and no man, the. President believes* has reasonable ground for expectation that any other ‘Bank of the "United Slates will be created by congress.— To tho Treasury. Department is entrusted ihc safo,keeping'aud faithful application of the pub lic moneys. _ A plan of collection different from tbe jwesent. must therefore be introduced and put incomplete operation before the dissolution- of Uio present -Bank. When shall it he corqmeu- ced ? 'Shall uo step be- taken in this essential concern until the charter expires,* and tfic Treas ury finds itself without flu agent, its - accotuits iu confusion, with ;ao -depositary for its funds, and the whole busilfe'ss of die government.deranged ? or shall it be delayed, until six months,*or a year, or jwo years before the expiration of the char ter ? It is obvious that any new -system which Tuny bo snbstitutcd'in the placo of the Bank of tho Uuitod Statos/codld not bo suddenly-carried into effect on the termination of its, existeurt without serious inconveuience to the government and tho people. Its vast amouut of notes arc then to he redeemed and withdrawn from circula tion, and its immense debt collected. These op erations mustbe-gradual, otherwise much suffer ing aipl distress will be. broaght upon the commu nity- It ought t<rbc not a work of months only, but of. years, and the President thiukxit cannot, with dtfc attention to tho interests.of the people, be longer postponed. lt_is safer to begin it too soon tliau to delay it too long. It is forthe wisdom of congress fo decide npon tho bcstsitbsdtuto to bfc adopted iu the place of tho Bauk of tho United States ; and the-Presid ent would have fell himself relieved from a heavy and'painful responsibility if iiuihc charter to the Bank, Cougress bad reserved to itself the powcT of directing, at its pleasure, thc'poblic money to lip elsewhere deposited, aud had not devolved that power exclusively ou one of the Executive Departments.. If is-useless how fo inquire why this high and important power was surrendercil by those who arc peculiarly nub appropriately the guardians .of thol public money. Perhaps it was an oversight. lliit-BS.the President pre sumes that jhe charter to the-BSnk is to be con sidered as a contract bii tile part of Government, it is not now iu tile potvpr of congress to, disre gard its stipulations; and.by the terms qf that contraet tho public money is to bt> deposited in tho Batik, during tho continuance of its charter, unless tho Secretary of the Treasury shall other- - wise direct. Unless, therefore, the Secretary of tho Treasury first acts, - congress.has no- power over ike rnbject, for tney-eanuotraerd a new clause, to tho charter or strike dfic out of it without the Consent qf the'Bank ; and consequently the pub lic money must remain in that instilution to the last hour of Its existence, unless- the Secretary, of the Treasury shall remoVc It.at nu earlier day.— The responsibility is th?ts thrown uppfi-thc Exec utive branch of the government, pf deciding how long before the expiration ijf the charter, the pub lic interest will require the deposites to be pla- ccd’.dtsewbcre. And although, according to the fi-ame and principle of our government, ’lfis de cision would -seem more properly to belong to' the legislative power; yet as;the law. has imposed it upon the Executive Department, tho duty ought to be faithfully and firmly mot, and the decision made.and executed upon tho best lights that can be obtained, aud the best judgment that can be formed. It would ill become the Executive branch of the government to shvink- froin any duty whifh the law imposes on it, to fix upon others the,responsibility whiclijustly be longs to itself. And -while the President atfsiojis- ly wishes to abstain from the,cxcrcise of doubtful powe'rs, and to avoid all Tntarferencp with the rights and duties of others, lie must yet, with un shaken constancy, discharge his own obligations ; and cannot allow himself tir tprn aside, in order to avoid any responsibility which the high trust with which he has been honored requires-him to encounter ; and It being the duty of ono of the' Executive Department? to decide in the first in stance, subject to tho future action of the legisla tive power, 'whether the public deposites shall remain.in the Bank of the United States, until the end of its existcuce, or be withdrawn sometime* before, the President has felt himself hound to examine the question carefully aud deliberately in order to make up hi* judgment on the subject: and in his opinion the near approach of the ter mination of the charter, ami the public consider ations heretofore mentioned, ure of themselves .amply sufficient to justify the removal ol the dc- 1 pe tites without reference to the conduct of the Hank, or their safety in its keeping. But in tlie conduct of the Bank tnny be found other reasons very imperative in their character, and which require prompt action. Develope ments have beeu made from time to time of ii faithlessness as a public agent, its misapplication of public funds, its interference in elections, its efforts,by the machinery of committees, todeprivi the Government Directors of a lull knowledge of its concerns, aud above all, its flagrant misconduct as recently and Unexpectedly disclosed in placing all the funds of the Bank, including the money of the-govermneut, at the disposition of the Pres ident of the Brink as - means of operating upon public opinion and procuring a new charter with out requiring him to render a voucher, for their disbursement. A brief recapitulation of the. facts which justify'thns.c*charges and which have come -to the .know ledge of the-public.and the Ptesident, will, he thinks, reinove every reasonable doubt as to the course which it Is now the duly of the President to pursbe. •We.have seen that,in sixteen months, ending ►iu .May. 1832,’the Bank lfnd extended its loans more than $23,000,000, although it knew the government intended to appropriate most of its largo deposite during thf.tj ear in payment of the politic .debt. It was in May, 1832, that itsjoans arrived at the maximum, and in the preceding March, so sensible whs the Bank that it would not be able,to pay over the public deposite when it would bo requirejd by the government, that it .commence^.*! secret negotiation witlioitt the ap probation or knowledge pf the government, with the agents, fad* about $2,70(X.O(HJof the three per /cent, stocks held in IlpHand, with a view of in ducing .them not to rcaiic forward" for payment for one or-'more years after notice should be j;iv- *en by the Treasury Department. % This arraiige- nient would have enabled the Bank to keep aud use during Uiat.time the public, money set apart for the payment of the’se stocks. * - Aftcc thisnegmiatioli.fail'd commenced, the Se cretary of the Treasury informed-the Bank, that it wasliis iutention tq pay offoa9.half of the three 'per cents on .the first of the succeeding July, which amounted to about $6,500,000. The President of the Bank, although the committee of invest!-. gationAvas then looking into its affairs at Phila delphia* came iimtiediately to Washington, and upon representing that .the Bank was-desirous of necommo'datiqg tho importing merchants nt New Ycfk {which it failed to do.) and. underta king to pay the jhterest'itself, procured the coni sent of.thb Secrctaiy, after consultation with the •President, to postpone the payment until the suc- cceding.fiirsl of October. ' Conscious that at the end of that quarter the Bauk would not be able, to pay over tlie depos itee, and-..that further indulgence was not io hie expected o'f the government, 'an ageut was des patched to England secretly. t<P negotiate with the holders of the public debt "in Europe, and induce them by Hie ofijec of- an- equal or -higher interest’ thaii that paid by the government to hold backiheir claims for one year,during which the Bank.expected thus to retain the use of $5, OoO.OOO of public molicy, iviifcH the government should set apart for tho payment of that debt.— Tho agent made an arrangemijct on term;, in part, which were in direct violation of the char ter of the Bank, and when some incidents con nected •with this secret negotiation accidentally canto to the knowledge of the public and the government* then and not before, so much of it as war palpably in violation of the charter was disavowed ! A modification of tho rest was at tempted with a Hew of getting the certificates without' payment of tho 'money, and thus absolv ing 1 the government front i's liability to the hold ers. lu- this srlicmo the Bank was partially suc cessful, but to-this day tlie certificates of a portion of jhesc stock?.have not been paid, and the Bank retains the. use of the money. This effort to thwart the government in tho payment of the public debt, that it mi^lit retain the public money.to be used for their private In terests, palliated By’ pretences notoriously uo-. founded and.iusinctre, would have justified the iustaut withdrawal of the public deposites. The negotiation itself rendered doubtful the ability oF tho Bank to "meet the demands of tho Treasury, and the misrepresentations by which it. was at tempted to be justified, proved that no reliauce- coujd be placed upon its allegations. If thd question of a removal of the deposites "presented itself - to the Executive :u the same at titude that it appeared before tlie House of.Rcp- tesentnrives nt -their last session, their resolution ju relation to the safely of the deposites would be entitled to more weight, although the decision of the question, of removal has been.confided lty Jaw to nuotlier-dcpartment of government. Blit tho quesuou now Occurs, attended by other circum stances .and new disclosures of tlie most serious import. It is true that iu tho'message of the President, which produced this inquiry and res- nlutiou on the part of the IloUscf’of Representa tives, jt was his object- to obtain the aid of.lhat body in linking a thorough examination into the conduct and condition of tlie Bauk and itsxl)ran ches, hi order to enable the Executive Depart ment. to decide whether tho public money Was longer safe in its bauds.- The limited power of. the Secretary of tho Treasury over the subject, disabled him from makiug tho investigation as fully ami satisfactorily as it could he donc'by a cotnmittce of the House of Representatives, anil hence the President desired the assistance q'f congress to obtain'for tho Treasury department* :i full knowledge of all the-facts which wore tie cessnry to guide his judg'inent. But-it was uot Ids purpose, as the language of his message will shew, to nsk tho Representatives of tlie people to nssumo a responsibility which did not belong to them', and relievo the Executive tfranch of the- government, from the duty which the law had imposed upon it. - . ... ., • - -* • It is duo to the.Prcsiden' that'his object in that priyceiijjjg should be distinctly understood, and that he should aCquit himself of all suspieion of setking to escape-from thq performance of his 7>wn duty, or "of desiring to interpose.nno'.lferbo- ,dy between hintsclf and the people in order to a- void a measure which ho is called upon ;q meet. But although, as an act of justice to himself, he disclaims any design of soliciting tho opinion of the House of Representatives in relation to his own duties, iu order to shelter himself from res ponsibility tinder the sanction of their counsel, yot he isal all times ready to listen to the surges’ lions of tho Representatives of the people, whe ther, given voluntarily or npon solicitation, anil to'consider them with the profound respect to which all will admit they are justly entitled. — Whatever may he the consequence.-, however, to hitnsQlfohe'mast finally form his o.wn judgment where, tile constitution and the law makes it his duty to decide, and must act accordingly: and he is hound to suppose tha? such a course on his part will never he regarded by that elevated body as a mark of disrespect to itself; but that they will, on the contrary, esteem it the strongest evi dence he can give of his fixed resolution consci entiously to discharge his duty to them aud the country. A new state of things has, however,'arisen since tho close of tho last session of Congress, and evi dence has since been laid before the President, which he is persuaded would have led the House of Representatives to a difiereut conclusion, if it had come to their knowledge. The fact that the Bank controls, and iu somo cases substantially oir/is. and by its money supports some of the lead mg presses in tlie country, is now moro clearly established. Editors to whom it ioaued extiava-". . to u!l , he pleases the responsibility of rendering auv soVe^!’ " illu,c t The Bank is thus converted into T' u " 1 eeriug engine wnb means to c„ l )ro j] ecll0 n ; in deadly feuds, and, under cover of expen'il H-'i.lW torr upiio,i .’tint sums ill 1831 and 1832. on unusual time anu j vice o'f the Bank, to hire writers an,I nominal security, have since turned cut to be insol- and to payout such sums as he i.'ln:'J' C, !*P !l P e r> vent, and to others apparently in 110 belter Condi-1 persons and tor what service; cion accommodations still more extravagant, 011 the terms more'unusual and sometimes without any eenrity have also beet; heedlessly granted. The allegation which has so otu n circulated through these channels that the Treasury, was haokrupt aud the Bank was sustaining it, when, for many years there has not been less, on an av erage, thar. six millions of public money in that - institution, might be passed over as a hnrnih ss misrepresentation: hut when it is attempted, by substantial, arts, to impair the, credit of the Government and tarnish the honor of the country -tirh charges require more serions attention — With six millions of public money iu its vaults, after having had the use from five to twelve mill ions for nine years,without interest, it became the. purchaser of a bill-drawn by *our Government oa that of France far about 0T)O,UOO dollars, bein the first instalment of the French indemnity.- TJie purchase rtiduey/was left iu tlie use of the w t "Batik, Ming simply.added to the Treasury do- uveresupposed to be instrumental in resistin' 1 posiie. The Bank sold tho' bill in England, and l wishes of this grasping rtnd dangerous iuMim,; the holder sent it to France for collection, and ! As the President of tie Bank ha s not b w .„ r ' nrrangjments not having been t?VMe **y the French red to settle bis accounts, no one but Lint Government for its payment it was taken up by knows how much more than the sum the agents of the Bank in Paris with the fumis of j mentioned may have been sqaainlcrtil ; the Bank iu their hands.' Under theso Gircutn- ' stances it has, through Its organs, openly assail’d ] the credit of the Government; and has actually , made, and persists in a demand of fifteen per cent or $1‘53,842 77 ns damages, when no damage, or themselves improper, exteud through all the ramifications of society Some of tho items Tor which account- e been rendered show the construction -,vh u been given to the resolutions and the „ • w bii Ii the power it confers has been of* V' The money has not been expended msrc j v J ! ; publication and distribution of spei .-hcs J n ’* of committees, or articles written for ihc of showing the constitutionality or u-,fu'- the Bank- But publications hi,\. ,‘ ( ' r .' ^ and extensively circulated, ci-ina'aiii^-1),,, li ’’ invectives. ne;.v.,-,1 the officers of the Govcnie^'' and the money n Inch belongs to the stockin'"' 1 .and to the public has been freely appliedTt forts to degrade, in public estimation, thia,- were supposed to beinstruu wishes of _ . . ssident'of ti.b Bank h;io not been In Ills flCmimN nn nn* I.... I ,r pnW "«t 3- which a credit may hereafter be claimed j- account under this roost extraordinary reiolr Willi these facts before i;-, can wc bo at tfac torngot of abuse incessantly .pon* gainst all who arc supposed to stand ii uoue beyond some trifling .expense has iu fact | of the cupidity or ambition of the Bank offftF been sustained, and when the.-Bank, had in its Stapes? 'Cau we be surprised at sudden snJ f owu’possessiqwoD deposite. several millions of expected changes of opiuion in favor of,m im,'' the .public-money which it was their using -for its j tuion which has millions to lavish and avoir* j. own profit. Is a fiscal agent to tbo.Goveriiment' determiuatioa not to spare its means when ii!' which thus seeks “to t-nricii itsvlftu tuc expense of j are necessary to accomplish its purposes? Td the public, worthy of further trust? j refusal to render nu account of tire manner L There arc other important facts not in the con- ; which ;t part of tlie money expedited has beta tcmplation oftbc House of representatives, or applied, givbs juit cabs* for the suspicion that at. the time they voted has been used 10'r purposes which it is not iW not known trothc member for the-resolution. Although the charter and tin; rules of the Bank both declare that “not less than seven’ directors” shall.be necessary to the transaction of busiucss, yet. the most important business,.even thnt'grant- iug discounts tb any extent, is intrusted to a com milted of five members who (Jo not repoil to the Board. To cut off all ineaus ofcomnnmicntion with the Government in relation to its most important acts, at-thc eomniejiceiu ent of the present year, not one of the Government Directors was placed or r- uy otie Committee. Ami although.since, by-an Unusual remodelling oTthose bodies, .some of these directors have been placed on some of the cym- mittees, they arc yet entirely c.vlt’ded from the Committee of Exchange, through which the greatest aud most objectionable loans have been made. When the Government Directors made an effort to bring hack the , business of the Bank to -the Board, iu obedience to the charter and ex-sting regulations, the Board not only overruled liieir attempt, but altered tlie rule so as to make it con form.to the practice, in direct violation of oho of the most impoMnnt provisions of the .charter which gave them existence'. . I? has long been ftcotvn that the FrdsidcuVof the Bank,'by his single will originates and exe cutes many of the most important mr asures cou- nectcdwith the thanagement. and credit of the Bauk and that the. Committee, as well a* ihelbuinl ofDircctorVnrc left in entire ignorance" o! many acts done, aud correspondence carried on, in their dames and apparently unde- their authority.— The fact has been recently disclosed, that ah un limited-discretion has bccii, and is now. Vested ill the 1‘icsidcut of tho Bank to expend its- fumis i.li payment for preparing ami circulating articles and jTu'rehasin_ pamphlets and newspapers, cal culated by their contents to operate on elections" aud secure a renewal of its charter. It appears from the official report of the Public- Directors, that on the 30th November, 1830, tlto. President submitted to the Board an article published in the American’ Quarterly review, containing favorar hie notices of tlie Bank, aud suggested the expe diency.of giving it. a wider circulation jit the ex pense of the Bank; whereupon the Board pass ed the following resolution, viz : “Resolved, That the President he authorised to take such measures in regard to the circulation of tbe contents of the said article, cither In whole or iu part.-as-hc may deem most for” the interest of tti“ B-i-.tk.” By an entry in the minutes of the Bank, dated .March 11th, 1831, it appears that the President had not only caused n large cditioit of that article to he issued, but had also, before tlie resolution of 39th November was adopted, procured lobe printed and widely "circulated, numerous copies -of the Reports .of Gen Smith"arid Mr. McDuffie in favor of the Batik, and on that day he suggested -theexpediency ;:f cxfeiYdmg his powfcr-td the prin ting df other articles n liiclf might subserve tlie purposes of the institution. W hereupon the fol- lov'fng resolution was adopted, viz r “Resolved, That tin;'President - is hereby au thorised to cause to be prepared and circulated such documents and papers as may comnnim- ctite tqjhe people information jn regard to.the itehire atfd Operations of the ‘B.lnk.” . Tho expenditures purporting to have been made under authority of these resolution's, during tho years 1831 and 1832 were about $80.01)1).— For a portion, of these expenditures vouchers were rendered, from which it appears that they were incurrcd?in tflo pdrehace of some hundred thousand - copies of newspapers, reports and speeches, made in Congress, reviews of the Veto MessagcT,-and. reviews of speeches against the Bank, &c. &e. For another" large portion no- vouchers whatever were rendered, but the Vari ous silms were paid on orders oTthe President of tho Bank, makiug reference to fhe resolution of the LIth Mar'chj 1831. Ou .ascertaining, these facts, and perceiving that expenditures of n similar • character Were still continued, tiie Government Directors n few weeks ago offered, a resolution in the Board call ing for a.specific account of those expenditures, shewing tho objects to which they had been ap plied and the persons to.v.hom tlie money had been paid. This reasonable proposition was vo ted down. They also offered a resolution rescinding the resolutions ot November, 1830, and March, 1831. This also was rejected. Not cement with "tint--, revising to recall the ob noxious power, or even to. require nuch an ac- rount of the expenditure as would shew whether tho money of the Bank bad in fact, been applied to the objects contemplated by those resolutions as obnoxious as they were, tho Board renewed tho power already conferred and even enjoined renewed attention to .its exercise, by adopting the following iu lien of the propositions submit ted by the Government Directors, viz : Resolved, That the Board have confidence has beep '.we;! for purposes wlnctt it is not dett;. ed prudent to expos’o to the eyes of nn iutelliftn and virtuous people.. Those Who ah justly fo not slum the light, uordo they refuseex|iI.itia"iiots when the propriety of their conduct is brotnt into question. ' With these facts before him, in an official n. port from the Go'-er.iii ent Directors, the Presi- (lent wbiiffi feel that he w;w not only resptnuikii for all tbe ah'Asbs and corruptions the Bank bts committed, or may coimnit, but almost ai* k. complice in a conspiracy against that Govtn- liieut which he lias Sworn honestly toadmai - - if he did not lake every step within his coiHth- liotial and legal pawer likely /o be efimes in putting tin bad to lhe.le enormities, lfitbtpos. •eibia. ivithii* the scope of human affairs, to Cad 3 reason for removing the Government deposit! mid leaving tlie Bank to its own resource forthe 'means of effecting its criminal designs, we harts here. Waste expected when the moneys of the United {States'wore directed to he placed in [fo Baiik.-t'ipit tfiey would be pot under the round of oho man, empowered to -spend millions with out rendering a voucher or specif ying the bliject! Can they lie considered safo with tlie cvidtsre before us, that tens of thousands have been spec! for highlyimproper, if not corrupt purposes, and that the same .'noiivo may font! Io the expendit- tire of hundreds and thousands, and even millocs more ? At'.d-ca.t we justify outscl' es to thepeo- ple by longer lending to i* litc money and powtt of the Government, to bo employed f r suet porposes ? . It lias been .alleged by some as an objection la the retroval of the deposites, that the Bank ht l!ic power, and iu that event.wilihat'c lliedisps- sition, tc destroy'the 5 tin o banks feniplojtily the Govcrnineitt, ttin! tiring distress 111-00.the country. It has been the fortune of the 1'k- dent to encounter dangers which were lepreswd as equally tilarnliug, and he has seen tlirm n:- ish before resolution and energy. J^itHiircsequal ly appjdlfng were paraded before him wluntta! Bank camo to demand tt new ebartor. Batvdat w is the "result: Has the country been ruined, or even distressed ? Was it-ever nicrp pr6ir.oatt than since that act ? The 1‘residctit vein In- Ifevesthe Bank litis not tl-.e power to produce ik calamities its frivutt? tiircateh. The fowls of ib Government will not he annihilated by tit; transferred. They will immediately Iks is-ned for the benefit of the trade,, and if the Bank, oft* United Suites curtail its loans, the. Klafe- Sa/iks, strengtlicncd by the public depbsitts, will 1 then's. What comes in through one Bank, wi go otit through others, and tlie equilibrium iti? be preserved. Should the Bauk, for tlie rocrepiit- pose'of producing distress, press its deLtors heavily than some of them can bear, the cow-, qucuces will recoil upon itself, and in aUnq'J to embarrass tht the country, it will only b*t loss and ruin upon the holders of - ii$ o'wrt la*!’ But if the President believed the Bank posse?- all the power which lias been attributed to it- L dotci’mniatiqn- would only he rendered tnorciulki- ihlc. If, indeed, this corporation now bolds ii sj hands the happiness ami prosperity of the Aar 1 lean people, it js high time to take the alarm- * the despotism be already upon us. and our ok' I safety is iu the mercy of the despot, recent d'.v-" irpements iu relation to his designs and the nr- 5 he employs, shows liow necessary it is to sink* off J'be struggle can ne v (';r coma with 1c-; tress to me peo|>le. orxundcr more favorable tef ices than ht the present moment. All dpilbts as to the w iljuigiicss of tlte 2^- ,Banka to mtde.-t ,ke the service of the '' ovff3 meut, fo the saufo etfent, and on the same iff* as it 13'now penorjned by the Bank ofthelujk States, is put to rest by the report of the recently employed to collect infornintiou. 7 f><iio that willingness, their own safety !” 1 ^ Operation may he confidently inferred, br mg their own resources better than they known l>y others, it is not to he aip|>'"'v' they would ; hc willing to place themselves iu •>- nation tvhieh they cannot ocanpy withou'* - . of annihilation or embarrassment. * — -. consideration applies to the safety of <*,1 funds, If deposited in those institutiou*- - V when it is seen that the directors of m 8 ?! them are not only willing to pb -foe the , , ter aSd capital of tho corporations in K |VI ' cess to this measure, hut also their « ": ’ j and reputation, wo cannot doubt •'"'; least, believe the public deposites wow , , - • ' —- Presided- their mauageineut. The that these, facts and circumstances i;; Strong a guarantee as can be hail in l'- l,r . . fairs, for the safety of the public ur. n! '‘',, practicability of a new system of collerb 1 -.^ disbursement through the agency of t“’ -Banks. -rjt From ail theso considerations *‘! c * 1 thinke that the State Banks ought ^Sf- to he employed in the collection and ' meat of the public revenue, and tbe j- in the Bank of the United States drawn e' 1 - The safety off estate BankMj ubts: ; r extent and nature of the security, in a ^''' their capital, if any he deemed ..cn'"‘ ir k subject of detail to which fhd Treasur^^g, , _ ri ... . all convenient despatch. the wisdom and integrity o‘f tho President and iti | lie moneys, if deposited in the St the propriety of the resolutions of 30tli November ! he secured beyond all reasonable 1830 and Mth March," 1831,and entertain a full conviction ef tho necessity of a renewed atten- ion to the object, of those resolutions, and that the president be authorized and requested toeou- tinuc his e>eriions'for the promotion of said'ob ject.’' Taken in connexion with the nature of the ex- P f nditures heretofore more, as reeentlv di-closed which the Board r.ot only tolerate hut approve, this resolution puts the funds of the Bank at the disposition of the President for tlie purpose of em ploying the whole press of the eouutry iu the scr- ment will imdoubr dlv five its anxious ...1 The Banks to be employed must retiid ; J . Unrrf-. ‘ ' I i$t V* eys of the Government with out c htirg* • Bank of tlie United States now does dor ait rhe servi’-T which that Bank 'J 1 . . ad? S- ill fine- forms: must keep the Government their situation by periodical returns .(Joi ntly arrangement with the 8inte Baak'• 3 jl erameut must uot, iu any respect, be p