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his arbitrary course, the Executive seemed to become the more restive and vindictive.- 1'ie Bank still retained the deposites, and had four years to run. With a view, there fore, of unsettling public confidence, and oi forcing the removal of the deposites, the President suggested doubt of the solvency of the Bank. The subject was referred to committee composed of a majority oI ms l friends, (Mr. Verplank, ChairmanO Wno re- ported a resolution, that the government de- | posites might, in the opinion of the house, pc safely continued in the U. 5. Bank, WHICH

 was adopted by vote oi lOS to 4o. I1G!G again was the President foiled ana then 9iu

 he determine to accomplish untGwtuIty what he had again and again sought to do under the color of law.

 The veteran Pennsylvania democrat, Ing ham, was dismissed without ceremony from office, and a man supposed to be more sup pie (Mr. Duane) was installed. The de- cree went forth-(Amos Kendall being in the meantime despatched to make arrange ments with the Pets)-that the deposites should be removed. To the astonlShment of the Executive, however, MT. Duane in- formed his Excellency, that by the charter the government contracted, upon certain considerations, with the Bank, to depositc the public moneys therein, until it was no longer safe to do so. He believed they were still secure in their vaults, and therefore could not conscientiously violate the power with which the charter had invested him. Mir. Duane quickly followed his Pennsylvania predecessor, and was succeeded by less scrupulous man, (Mr. Taney,) who did the disgraceful act, and was elevated, at the de- cease of the illustrious Marshall, to the Chief Justiceship.

 Thus was introduced the system of Pet Banks, which was deemed at the time, by members of Congress and an intelligent pub- lie, a fragrant usurpation of legislative power by the Executive; an exercise of power which Congress itself had repeatedly declin- ed. The bank was finally prostrated, and offered the government 1l5 for every SlOO of stock they held: The President forgot the insolvency of the Institution, and accepted the terms.

 The overthrow of the National Bank, the substitution of State Banks, and the Specie circular, constitute the Experiment, by which the country has been hurled into almost universal bankruptcy. It has occasioned the alarming increase of Banks, which in 1880 amounted to 32O, with capital of l45 millions, and in '37, to 677, with a capital of 324 millions. This unlimited credit stimu- lated the enterprise of the people, which the Banks could no longer sustain, when shock ed by the transfer of specie from their vaults, from the East to the West, for speculation in the Public lands. Had the controlling pow CT of the U s. Bank over the extravagant is- sues of the State Banks been retained, there would have been no over-trading, no univer- sal ruin. The calamity has befallen us-, the people must look to 1.-the welfare and happiness of us all depend upon capable and honest representatives.