US Presidency
1834

They are the dismissing the late Secretary of the Treasury because he would not, contrary to his sense of his own duty, remove the money of the United States in deposit with the Bank of the United States and its branches in conformity with the President's opinion, and appointing his successor to effect such removal, which has been done. But as no other specification has been substituted, and as these were the Executive proceedings in relation to the public revenue principally referred to in the course of the discussion, they will doubtless be generally regarded as the acts intended to be denounced as an assumption of authority and power not conferred by the Constitution or laws, but in derogation of both. It is therefore due to the occasion that a condensed summary of the views of the Executive in respect to them should be here exhibited. By the Constitution the executive power is vested in a President of the United States.