Fhsm ths WashiagsOa Giobs. RemOvnl ofthe Pmblic Dep0sites.
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 TRead to ths Cabinet oa the 18th Sept. ls98J

 E8aving carefully and anxionsly considered all tue facts and arguments which have been submitted u him. relative to d aremoval of the public dep0sites from the Bank of the Uni ted States, Ihe President deems it his duty to eommunicale in this manner to his Cabi- net, the final cOncilsiOns Of his own mind. and the reasons on which they are fUundedj in order 10 put them in durable form, and to prevent miscOncepiiOus.

 The Presidents convictions of the danger oas tendencies of the Bank of the United States, since signally illustrated by it's OWu acts, were s0 0yerpoweEiHg when he entered Upon the duties of Chief Magistrate, that he felt it his duty, notwithstanding the objec- tiOns of the friends by whom he was surroun- ded. to avail himself of the first occasion to call the attention of congress and the people tO the question afs its recharter. The Opin- ions expressed. in his annual message bf Dec. 1929, were reiterated in those of December, 1880 and 1881; and in that of 1880, he threw out for consideration some suggestions in re- latiOH to substitute. At the session of 1884, 2, ansact was passed by majority of both houses of Csugress rrchartering the present Rank, upon which the President felt it his du- ty tO.put his constitutional veto. In his Mes- cage, seturning that act, he repeated and en. larged upon the principles and views briefly asserted in his. Annual Messages, declaring the Bank 10 be in his opinion, both inexped- ent and uncnnstitulional, and announcing to his countrymen, very 0nequivocaily, his firm tleterminatiOn never to sanction ny his appr0- val, the continuance of that insiitution0r the establishment of any other upon similar Prin- ciples. K

 There are strong reasons for believing that the motive of the Bank in asking for rechar- ter at that session of Congress, was to make it leading question in the election of Pres ident of the U. States the ensuing November, and all steps deemed necessary. were taken to procure from the people reversal of the Presidents decision.

 Although the charter was approaching its terspination, and the Bank was aware that II was tho intention of the Government to use the public deposite as fast as itaccrned, in the payment of the public debt, yet did itextend its loans from Jan. 1881. to May, 13Ss, from $42, ,4O2 ,SO4 24 tO S7O.42S, ,070. 7g, being an increase of Sq8, 025,786 48, in l8 months. It is confidently believed. that'the leading object of this immense extension of it's loans, was to bring as large portion of the people as pos sihle under it's power and influence and it has been disclosed that some of the largest sums were granted on very unusual terms to conductors of the public press. In some of these, cases the motive was made manifest by the nominal or insufficient security taken for the l0ans, by the large amounts discounted, by the extraordinary time allowed for pay. ments and especially by the subsequent con- duct Of those receiving the accommodations.

 Having taken these preliminary steps tO oh- tain control over public opiuion, the Bank came into Congress and asked a new charter. The object avowed by many of the advocates of the Bank was to put the President to the test, that the country might know his final de- terminatinp relative 10 the Bank prior to the ensuing election. Many documents and ar ticles were printed and circulated at the ex- pense of the Bank, tO bring the people to a favorable decision upon his pretensions. Those whom the Bank appears to have made its debtors for the special occasion, were warn- ed of the ruin which awaited them, should the President be sustained, and attempts were made tSs alarm Ahe whole people by painting the depression in the price of nFopeF- " and prodnce, and the general loss, inconye-l nience, and distress, which 1t was represented would immediately follow the reelection of the Presidentin opposition to the Bank.

 Can t now be said that1the question of a recharter Of the Bank was nut decided at the election which ensued Had te veto heen equis0eal, or had t not covered the whole ground-if it had merely taken exceptions to the details ofthe bill. or t0 the time of its pas sage-if> 1t had not met the whole ground of constitiatioDalily and expediency, then there might have been some pIausibilily for the al- legation that the esquestion wasaDot decided by the people. II was tO compel the President to Otaixe his stand that the question was brought forward at that particular time. He met the Challenge. williagly took the position into whlciI hls adyersaries sought tO f0rce him, and frankly decared his nnalterable opposi. ton tO tho Bank as being both uncOnstitution. aI and inexpedient. On that ground the case was argued tn the people. and now that the people have sustained the President. notwifh. standing the array If influence and power which was brought to hear upon him, it is too late, he confidently thinks, tn say that the question hassRpt been decided. Whatever may Dc the opiniOns of others, the Presidcnt considers hia recollection as ( decision of ihs, people against the Bank. Ia the cOnclndinr psragraph of his Veto Message, he said--

 .. have now done Iny dn,v \ mv cc,,,.. ;r V. tainei ty.Wy shall hss grateful rni happyi lf GCt lshall ad in the motives which imre me ample grosnds.i ipf conieaimeal and peaee.''

 w He was. sustained by a just people, and he desires lt0 eyince his gratitude by carrying in. 10 effect tkeir decision, % far as it depends upon him: ~

 or all the substitutes for tho present bank which have been suggested, none seems to have Hpited any considerable pArli0n of the puhlic iHits fay0r. NI0sf of them are liabIe tothe same eonstituii0naI objections for whici, the present hank has been condemned. and mn. tr. nll As.A,.,s ,.