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ten, to which h had been carried, was not necessary to the safety of the Bank, and had been persisted tn merely induce Congress to grant the prayer of the Bank in it's memorial relative tO the removal OG the de- pOsites, and Io give it new charter They were sub saniiay confession that all the real distresses which individuals and the country had endured for the pre- ceding six eight months, had been needlessly pro- duced by it, with the view ol eifecting. through the suferimgs of the people, the legislative action of Con- grcrs t Is subject of CODgraIulaiOn that Congress and the country had the virtue and frmDess to bear the infciion; that the energies of our people soon found relief from this wanton tyranny m vast mporia tinns of the precious metals from almost every part of the world; and that the close of this ndOus ef fort control Government, the Bank tnnnd itself Duwerless and no longer able to loan it's surplus means. The community have learned to manage its affairs without s assistance, aud trade had already found auxaries; so that on the hrst ot October last the extraordinary spectacle was presented oi National Bank, more Ihan one half ot whose capital either lying unproductive m It's vaults, or In the hands of foreign bankers.

 To the needless distresses brought on the country during the last session of Congress, has been added the open seizure ofthe dividends on the public stock, to the amount of $l7004l under the prcence of pay ] ing damages, costs and interest, upon the protested i French bill. This sum constituted portion o1 the es- tmated revenues for the year 1854 upon which the 1 appropriations made hy Congress were based. IL would have been expected that our collectors 1 would seize the customs, or the receivers ot our 1 land offices the moneys arising from the sale "i

 public lands. under pretences oi claims a2ans the

 United States, the Bank would have retained the dividends. Indeed, if the principle be established that any one who chooses to set up caim agans the United States, may without authority oi law, seize the public property or money wherever he

 can find it, to pay the claim there will remain no as

 surance that will reach the Treasury or

 that it will be applied after the appropriation 10 the

 purposes desig naled r the law. The paymasrers of l our army, and the Pursers of our navy, may, un- der like prerences, apply to their own use moneys appropriated in motioD the public urce, and ID time ol war leave the country without defence. This resorteh by the bank disorgan'Zing and revolutionary, and if generally rcsnred by prva'e tla md cEI and violence.

 It is constitutional provision tha, " no money shall be drawn from the Treasury but in consequence ofap- proprations made by law" The paIpable object of this provision, prevent the expenditure of the pub lie money. for any purpose whatsoever, which shall not have been first approved by the Representatives of tue People and the States ln Congress assembled. IL vests the power of declaring for what purpose the public money shall be expended, in the legislative de- partmen of the government, 10 the exclusion ot the executive and judicial, and # s not within the cons-

 u,ona authority of either ofihose departments to pay il away without law, "r to sanction it's payment Ac- cortiing this plain constitutional provision the claim of the Bank never be paid without an appropria- ion by act of Congress. But the Bank has never ask ed for appropriation. ltaiemps to defeat the prov sion of the constitution, and obtain payment without an act of Congress. Instead of awaiting appropr a,ion passed by both Houses and approved by the President it makes appropriation for itself, and n- vi,es appeal the judiciary to sanction il. That the money had not technically bee" paid into the Treasury, Goes not affect the principle intended 10 be established by the constitution. The Executive and Judiciary have little right 10 appropriate and ex- pend the public money without authority law, be- fore il is placed to the credit of the Treasurer as to take from the Treasury. In the anana report of the Secretary of the Treasury, and n hs correspo" dence with the President of the Bank, and the opin- ion ol the Attorney Genera' accomPanyIng u, you will find further examination of the claims of the l bank, and the course il has pursued.

 IL seems due to the safety of he public funds re- mainpg in that Bank to the honor of the American People, that measures be take" to separate the Gov ernment entirely from an institution so mschievous lo

 the public prosperity, and SO regardless lo the Cnns-

 tuition and laws. By transferring he public depnsi,es, by appointing other Pension Agents far t-hAd the tower, by ordering the d'scontnuance Of the ceipt ot Bank checks in payment Of the public dues afer the first day of January next, the executive has exered all it's lawful authority to sever the connection between the Govcrnment and this lhlthless corpora ! tion.

 1 The high hanced career of this institution imposes upoa the constitutional functonnries of this govern mrnr, duties oI ,e graves aud most imperative char acter-'iuues which they cannot avoid.and from which

 ihere will be inclination the part of any of them to shrLk. My of them is most clear is also my readiness to discharge those which

 may rghliully fail me. To continue any business relations with the Bank of the United States that may be avowed without violation of the national iaiih after that institution has set at open defiance the con- ceded right of the Government io examine it's affairs after has done all in i's power to derde the public authority in other respects, and to bring into dsre pne at home and abroad; after has attempted to de- feat the clearly expressed will of the people by turning against them the immense power nifused to us hands,

 

 ishing and happy, in dssenOns, em'arrassne ni and disircss-wuuld make the nation itself party 10 the degradation seduOusy prepared for it's public agents and do much to destroy the confidence oi mankind in popular governments and to bring into contempt their authority and efficiency. In guarding against evil of such magnitude, considerations of lempora " convenience should be thrown of the question, and should be influenced by such motives only look the honor and preservation Of the republican system. Deeply and solem"Iy impressed with ihej jus uce of these views, feel it ,O be my duty to recOm mend that law be passed hOclYlNp the sale of the pHhlc stock that the provision of ihe charter requiring the receipt of notes of the Bank in payment of public dues, shall, in accordance with he power reserved Congress in the 14h section oflhe charter be suspended until the Bank pays the Treasury the dividends withheld; aud that all laws connecting the Government it's officers with the Bank directly or indirectly, be repealed 1; aDi that tie institution be left hereafter tb its own resources md means.

 Events have satisfied my mind, and think the mUds of the American People, that the mischels aud dangers which flow from National Bank far over sent Bank has made to control the Govei nmeni, the distresses t has wanoniy produced, the violence oC which it hus been the occasion n one Of our cities faMed for s observance of law and order, but pre- moniiOries of the tale which awaits the American pe0 pie should they be deu'ied into perpeluaoM ol this

 institution, the establishment of ano her like it. IL is feryenlly hoped, tha,, thus anonshed, those who have heretofore favored the establishment G subsli tue for the Bank, will be induced to abandon that may he reas"aaly peced, than neenirate the whole moneycd power of the Republic in any form 1 whatsoever, or under any restrictions.

 Happily 1t Is already illustrated that the agency of such an institution Is n" necessary the fiscal opera

 lions of fthe Government. The State Banks are found