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against the abuses and encroachments oil
the Executive power as TO forget that they
originated in the prior abuses and en-
croachments Of Congress, and were accor-
dinghy exclusively intent on expelling
from office those who had acquired and ex-
ercised their authority in a manner so
dangerous, without rejecting into whose
hands the power would go, and what
principles and policy would gain the as
cendancy. With this state of feeling on
the part Of our friends, | saw it was inn
possible to take position which, by con-
sequence, was calculated to cover those
in power, however urgent the cause, with
out occasioning shock in the first in
stance, and the impu,ation of unworthy
motives, 10 meet which, however transient
the misapprehenson might be, required
some resolution and firmness. But there
were other and far greater causes of res
possibility, 10 which this was as nothing.
or all the interests in the community, the
bankingis far by the most influential and
formidable, the most active, and the most
concentrated and pervading, of all the
points within the immense circle OF this
interest, there is none in relation TO which
the banks are more sensitive and tenacious
than their union with the political power
of the country. This is the source OF a
vast amount of their profits, and OF still
larger portion Of their responsibility and
influence. To touch their interest on this
tender point is TO combine all in one uni
ted ana Jealous opposition, with some eX-
ceptions in our portion of the community,
where he union of the two powers acts
iniuriousy to banking, as well as to the
commercial and other greater interests of
the section. To encounter so formidable
an opposition, supported by a powerful
political party with whom had been act
ing for some years against entire power,
and who regarded the union OF the Gov
ernment and the banks as essential 10 the
union of the States themselves, was to as
sumo heavy responsibility under the most
favorable circumstances, but to back and
sustain those in such opposition, in whose
wisdom, tirmness and patriotism have no
reason TO contide, and over whom | have
no control, is to doubt that responsibility.
This responsibility | have voluntarily as
sumed. Desiring neither office nor pow
er, and having nothing to hope personally
from the movement, no motive but the dis
astrous political consequences to the
country aud its institutions generally,
and our section in particular, and deep
sense of duty, could nave induced me to
take the step did, That 1t has met the
appreciation of so respectable portion Of
my old constituents and friends, to whose
early and steadfast support, under every
trial and difficulty, am SO much indebted,
is source of deep qualification, which
shall long remember and acknowledge.


J. C.. CALHOUN.


To Mossrs. J. RuSkait- A WisfalI- / p


Carol, N. Laborde, J. Jones, +. h.


Wardlow,J, w. Wimbls, Committee.