The Sun.
London, England, 1833-12-30 00:00:00

AMERICAN PRESIDENT'S SPEECH,

(Extracts from.)
" It gives me great pleasure to congratulate you upon
the hpppy condition of our beloved country. By the
favour of Divine Providence health is again restored to us;
peace reigns within our borders, abundance crowns the
labours of our fields, commerce and domestic industry
flourish, and are on the increase. Our condition abroad
is no less honourable than it is prosperous at home, seeking
nothing that is not right, and determined to submit to
nothing that is wrong, but desiring honest friendship and
liberal intercourse with all nations. The United States
bare gained throughout the world the confidence and
respect which are due to the character of the American
people.

" I continue to receive the most am!cabie anurauces

from the Government of France, and the most friendly
relations exist between the United States and that Go.

Yernment. It hto be regretted that the convention, con
eluded on the 4th of July, 1831, remains in some im.

portant parts unsettled.
"Since the last adjournment of the Congress the
Secretary of the Treasury has directed the money of
the United States to be deposited in certain State
B inks designated by him, and he will immediately lay
before you his reasons for this direction. I concur
with him entirely in the views he has taken of the sub-
ject, and some months before the removal, I urged upon
the department the necessity of taking that step. The near
approach of the day on which the charter will ex•
pire, as well as the conduct of the Bank, appeared to me
to call for this measure upon the high considerations of
public interest and public duty. The extent of its mis-
conduct however, although known to be great, was not at
that time fully developed by proof. It was not until
late in the month of August that I received from the
Government Directors an official report, establishing
beyond question that this great and powerful in-
stitution had been actively engaged in attempting to
influence elections of the public officers by means of its
money, and that in violation of the express provisions of
its charter it had by a formal resolution placed its funds at
the disposition of its president, to be employed in sustain-
ing the political power of the Bank. A copy of this resolution
is contained in the report of the Government Directors be-
fore referred to, and however the object may be disguised
by cautious language, not one can doubt that this money
was, in truth, intended for electioneering purposes, and
the particular uses to which it was proved to have been
applied abundantly show that it was so understood. Not
only was the evidence complete as to the past
application of the money and power of the Bank to
electioneering purposes, but that the Resolution of the
Board of Directors authorises the same course to be pur-
sued in future.
" It being thus establi.hed by unquestionable proof that
the Bank of the United States was converted into a per-
manent electioneering engine, it appeared to me that the path
of duty which the executive department of the Government
ought to pursue was not doubtful. As, by the terms of
the Bank Charter, no officer but the Secretary of the
Treasury could remove the deposits, it seemed to me
that this authority ought at once to be exerted to
deprive that great corporation of the support and
countenance of the government in such an use of
its fund, and such an exertion of its power. In
this point of the case, the question is distinctly pre-
sented whether the people of the United States are to
govern through representatives chosen by their unbiassed
suffrages, or whether the power of money of a great cur-
Puration are to be secretly exerted to influence their judg-
!tent, and control their decision. It must now be
determined whether the Bank is to have its candi-
dates, for all offices in the country, from the
highest to the lowest, or whether candidates on both
sides of political questions shall be brought forward as
heretofore, and supported by the usual means.

" At this time the efforts of the Bank to control public
opinion, through the distresses of some and the fears of
Others, are equally apparent, and, if possible, more ob-
jectionable. By a curtailment of its accommodations
rtiore urgent than any emergency requires, and even while
it requires specie to an almost unprecedented amount in
ite vaults,it is attempting to produce great embarrassment
tU one portion of the community, while through presses
known to have been supported by its money it attempts by
Unfounded alarms to create a panic in all.
"These are the means by which it seems to expect that
it can force a restoration of the deposits, and, as a neces-
i!il consequence, extract from Congress a renewal of its
Charter. lam happy to know, that through the good
44. le of our people, the effort to get up a panic has hitherto
ailed, and that through the increased accommodation which
"'estate banks have been enabled to afford, no public distress
444 followed the exertions of the Bank ; and it cannot be
01ibted that the exercise of its power, and the expendi
•
144 of its money, as well as its efforts to spread ground-
salarm, will be met and rebutted as they deserve. In
Teets
own sphere of duty, I should feel called on, by the
disclosed, to order a scire facias against the Bank,
'ittl a view to put an end to the chartered rights it has
Palpably violateJ, were it not that the charter itself
citlld expire as soon as a decision would probably be oh
iled from the Court of last resort.

4 I called the attention of Congress to the subject in my
t annual message, and informed them that such measures
*ere within the reach of the Secretary of the Treasury
been taken, to enable him to judge whether the
61
10 deposits in the Bank of the United States were
tire] safe, but that as his single power might
le4dequate to the object, I further recommended I
htlbject to Congress as worthy of their serious hives-
ttion--declaring it as my opinion that an inquiry into
'ell
of the institution embracing the branches
tell as the principal bank, was called for by the credit,
ll was given throughout the country to many serious
Litel, impeaching their character, and which, if true,
"I justly excite the apprehensions that they were no
et 4 safe depositary for the public money.
dlihe extent to which the examination thus recom-
ed was gone into is spread in your journals,
too well known to require to be stated. Such as
made, resulted in a report from a majority of a Corn.
"f Ways and Means touching specified points only, and
ilding with a resolution that the Government deposits
t safely have been continued in the United States.
resolution was adopted at the close of the Session
• •
111
kelonty of the House of Representatives.
4 411tboug
h may notl
from such
able s tou h
a concursouwr
ciet,h
of the public interest, or the duties of its agents,
Gobe taken by the other departments of
Qovernment, or either of its branches, i
tletwithstauding, wholly incapable of receiving,
tee than with the most sincere respect, all
suggestions
proceeding
, art or
or
respect to none am I more inclined
so than to the House of Representatives;
will be seen from the brief view at this
taken of the subject by myself as well
more ample ones presented by the Secretary of the
I t'Y, that the change in the deposits which had been
, has been decided to be called for by considerations
l'e not affected by the proceeding referred to, and j
i 4
, If correctly viewed by the department, rendered its
' tter of imperative duty.
, jags as you do, for the most part, immediately
, 'l
People and the States by election, and pos-
e fullest opportunity to know their sentiments
tit Congress will be sincerely solicitous to carry
44,1 fair effect the will of its constituents in regar,
It 4
,
~Atitution. It will be for those on whose behalf we
f,;:eelde whether the executive department of the
„Ins la the steps which it has taken on this sub-
Leo found in the line of 'es duty.

Ar;DREW JACKSON.