are the people ready to destroy one of their most valuable institutions to gratify the caprice of the President?233."The Bank question presented as an issue of the election by its friends,233;two classes of friends,233;one friends of the President, the other against him,233;how the consent of the former was obtained,233;memorial for re-charter presented,233;referred to a select committee in the Senate,233;referred to the Committee of Ways and Means in the House,233;reason of the difference,233;motion to refer to a select committee,234;remarks,234;this measure entirely disconnected from the Baltimore convention,234;"a select committee the proper one,234;the course in such cases,234;the question should not be taken up at this session,234;the stockholders left the application discretionary with the directors,235;it will divide the whole country,235;the bank has been charged with using its funds and those of the people in operating upon and controlling public opinion,235;this of sufficient consequence to demand an accurate inquiry,235;charged with violating its charter,235;other charges,235;memorial referred to Committee of Ways and Means,235.Investigation ordered.—Course necessary to be pursued by the opposition,235;to prepare the people to sustain the veto,235;policy of the bank leaders,236;reasons for taking up the investigation in the House,236;motion for inquiry made,236;manner in which the motion was treated,236;resistance to investigation,236;"a re-charter is asked, yet the friends of the bank shrink from inquiry,236;the inference which might be drawn from this resistance,237;what is the ground of opposition?237;how the memorial was treated in the other House,237;result of the examination in 1819,237;three years after it went into existence, it was on the verge of bankruptcy,237;"right of either House to make the inquiry,237;the misconduct of the bank in numerous instances,237;list of accusations against the bank,238;the friends of the bank obliged to declare in favor of examination,238;modes of investigation proposed,239;restrictions proposed to the inquiry,239;remarks upon the manner in which the proposed inquiry has been treated by the House,239;remarks on modes adopted by the bank for extorting usury,240;another mode makes the loan take the form of a domestic bill from the beginning,240;effect of the debate on the bank with the country,240;speakers against the bank,240;advocates of the bank,241;the Committee of Investigation,241;its composition,241;three reports,241;their character,241.The three per cent. debt.—This a portion of the revolutionary debt standing at sixty-four,242;money in the bank to pay it,242;the money retained to sustain the bank and the debt not paid until it rose to par,242;remarks on the course of the bank,242;the loss to the people,243.Bill for re-charter reported.—Remarks relative to previous charters,243;former course of Webster,243;his defence of his present position,243;"the years that have passed,248;the effects of experience,243;action of Calhoun in procuring the present charter,244;the vote of Webster against it,244;his views,244;evils of a disordered currency,244;the small note currency cause of the small amount of specie in the country,244;"the grant of exclusive privileges and the bonus required opposed,245;remarks upon them,245;the present application of the bank opposed,245;"some years before the charter expires,245;now late in the session,245;not time to do justice to the subject,245;other subjects of more immediate and pressing interest must be thrown aside,245;an unfinished investigation presents another reason for delaying the final action of Congress on this subject,245;the people have no opportunity to make up their minds on the information now printed,246;this question belongs to the Congress elected within the next census,246;looks like usurpation on the part of this Congress,246;different representation in the next Congress,246;a charter should be granted with as little invasion of the rights of posterity as possible,246;this question must effect the presidential election if not decide it,246;take a lesson from the monarchical parliament of England,247."A motion declaratory of the right of the States to admit or deny the establishment of branches of the mother bank within their limits, offered,247;remarks,247;"if this amendment is struck out it is tantamount to a legislative declaration that no such rights existed,247;decision of the Supreme Court on the right of the States to tax the branches,247;this is the supremacy of the bank and the degradation of the States,247;the argument that these branches are necessary to enable the Federal Government to carry on its fiscal operations and therefore ought to be independent of State legislation, is answered by the determination of Congress itself,247;every thing is left to the bank itself except the branch at this place,247;the establishment of branches is a mere question of profit and loss to the bank,247;point of the question,247;motion rejected.Motion to strike out the exclusive privileges and to make the stockholders liable,248;"example of the Scottish banks,248;the excellence of their plan,248,clauses granting exclusive privileges,248;the establishment of any other bank by the United States prohibited during the existence of the charter,248;this is contrary to the genius of our Government,249;the restriction upon future Congresses is at war with every principle of constitutional right and legislative equality,249;is this Congress to impose restrictions upon the power of their successors?249;in nine months this Congress is defunct,249;the renewed charter will not take effect till three years after the full representation of the next Congress in power,249."All amendments proposed by the opponents of the bank voted down,250;the interest of members of the Senate as stockholders,250;bill passed in the Senate and House,250.The Veto.—"If this government sells exclusive privileges, it should at least exact for them as much as they are worth in the market,251;the present value of the monopoly is seventeen millions, and the act proposes to sell it for three,251;how can the present stockholders have any claim to the special favor of the Government?251;this act does not permit competition in the purchase of this monopoly,251;not just to set others aside and grant this privilege to the few who have been fortunate enough to secure the stock,251;"the force of precedents for constitutionality argued against,252;decision of the Supreme Court,252;examined252;remarks,252;"precedence is a dangerous source of authority, and should not be regarded as deciding questions of constitutional power except where the acquiescence of the people and the States is well settled,253;precedents are really against the bank,253;if the opinion of the Supreme Court covered the whole ground of this act, it ought not to control the coordinate authorities of this Government,253;in the case relied on, the Supreme Court have not decided that all the features of this corporation are compatible with the constitution,253;the misconduct of the institution, both in conducting its business and in resisting investigation,253;suspicions are entertained and charges made of gross violations of the charter,253;the recommendation of a majority of the committee,253;additional reason for less haste and more caution,253."The great speeches from the advocates of the bank now made to repel the effects of the veto,254;a transfer of the question to the political arena,254;to the presidential election,254;frightful distress predicted, and a change of the chief magistrate the only means of averting the calamity,254;remarks of Webster on this point,254;remarks of White upon the bank taking the lead of a political party,254;the distress pictured by Clayton,254;the winding up of the bank, with regard to time,255;case of the previous bank,255;menace of distress from the bank if denied a renewal, entirety gratuitous,255;vehement declamation against the veto,255;remarks of Clay on the veto power,255;reply of Benton,255;objects of the vetoes of the French king,256;"the fable of the cat and the eagle,256;why debate the bank question, now it is vetoed, and not debate it before?257;the bank is finished, why debate it now?257;the bank is in the field, fearful and tremendous combatant in the presidential election,257;the Great West is selected as the theatre of her operations,257;ruin is to be the punishment of the West, if she votes for Jackson,257;the bank debt has been created for electioneering purposes,258;this point examined,258;the establishment of several new branches and the promise of more,259;the alleged necessity for the prompt and vigorous collection of this debt, if the charter is not renewed,259;the opinion of the Senator from Kentucky, about the legality of this trust,259;once in every ten years the capital of this debt is paid in interest,259;the ruinous drain of capital in hard money from the West,259;the old banks of Ohio, Kentucky, and Tennessee, defended from the aspersions cast on them,260;manner in which the charter was pushed through, pending an investigation,260;the foreign stockholders of the bank,260;the bank a monopoly,261;English authority for calling the Bank of England a monopoly, and the British bank in America is copied from it,261;the President's idea of his oath,261;his independence in construing the constitution,262;the drain upon the resources of the West, made by the bank,262;address to the Jackson bank men,262;address to the West,262;the dangerous power of the bank and the present audacity of her conduct,263.""Dissatisfaction expressed that the speeches of some Senators fill the galleries, and those of others empty them,263;charged with a want of courtesy to the President,263;charges of the Senator from Missouri, once against the President,263."No adjourned question of veracity between the Senator from Missouri and the President,264;the prediction charged upon the Senator from Missouri,264;"further debate,264;direful picture of distress drawn,265.Delay in paying the three per cents.—Message recommended that the United States stock should be sold, and that a committee be appointed to investigate its condition,287;referred to a special committee of friends of the bank,287;objected that the committee should not proceed until the report of the agent of the Secretary of the Treasury was made,287;its depreciation of the stock,287;this objection fallacious,287;the loss of the bank, by depreciation, stated at half a million,288;nothing before the House to make an inquiry into the condition of the bank desirable,288;eventual ability to discharge all its obligations, is not of itself sufficient to entitle the bank to the confidence of the Government,288;what was the Executive complaint against the bank?288;that it had interfered with the payment of the public debt,288;effect of the charges upon the feelings of the corporators,288;the report of the agent,288;the exhibit contrasted with its actual state,288;a large surplus presented for the stockholders,289;the report a mere compendium of the bank returns,289;proceedings of the bank with regard to the three per cents,289;investigation referred to the Committee of Ways and Means,289;report,289;public deposits reported entirely safe,289;resolution to continue the deposits in the bank offered,289;debate,289;the bank exceeded its legitimate authority in relation to the three per cents,290;had the bank promptly paid the public money deposited in its vaults when called for,290;proceedings of the bank,290;resolution carried,291;loss by the manner the three per cents were paid,291.Sale of Stock in the.—Sale of United States stock in all corporate companies recommended by the President,294;partnership of government with corporations condemned,294;bill introduced,294;moved to reject it,294;debate,294;indication at this persecution of a national institution,294;indignities to which members were subjected who presumed to take any step concerning the bank which militated against that corporation,295;a plain business proceeding,295;an isolated proposition,295;the bill summarily rejected,295;fifty members borrowers of the bank,296;the same thing had happened once before,296;proposed in 1827 to sell the stock solely on the ground of public advantage,296;remarks on this proposition at the time,296;reflections,296.Removal of the Deposits.—Order for removal issued by the Secretary of the Treasury,373;the President's own message,374;reports of directors to the President,374;extracts from them,374,375;resolutions adopted by the board,376;further outrages of the bank,376;the exchange committee of the banks,376;paper read by President Jackson to his Cabinet,376;extracts,377,378;impression produced by the removal,379.Proceedings of the Bank on the removal of the Deposits.—The reference of the President's paper to a committee,379;report,379;extracts,379;its temper,379;gives the lead to proceedings in Congress,380;the violations of law and the constitution referred to,380;amount of the charges against the President by the bank,381.Report of the Secretary of the Treasury relative to removal of the Deposits.—Reasons for the cessation of deposits in the bank,381;the duty of the Secretary,381;no prospects of a renewal of the charter,382;other reasons,383;the board of directors,383;authority of the Secretary to remove the deposits,384;the deposit banks,385;difficulty of obtaining the deposit banks,385;power of the Bank of the United States,385.In the Senate.—Report considered,393;proposed, that the Senate act upon it at once without the intervention of a committee,393;the House the proper place to investigate the charges made in that report,393;resolution offered,393;referred,394;report,394;remarks on the despotism of the committee,394;reply,394;report drawn by the counsel for the bank,394;inefficiency of the resolution,395;no action proposed,395;resolution adopted,395.Resolution subsequently proposed again with another requiring the return of the deposits to the bank,396;remarks,396;impropriety of the resolutions so near the close of the session,396;other considerations,397;resolutions adopted,397;sent to the House and not taken up,397.In the House.—Report of the Secretary, memorial of the bank, and of the government directors referred,398;report,398;adopted,398.Government Directors, their Nomination and Rejection.—Opposition manifested to four of the five nominated,385;resolution of inquiry into their fitness, &c., offered and rejected,385;four rejected,386;no complaint against them except from the bank,386;rejected for the report made to the President,386;re-nominated,386;message,386;extracts,387,388;question raised as to which was the nominating power for bank directors, the President and Senate or the Bank and Senate,388;determination to try this question,389;message referred to a committee,389;report against the re-nominations,389;the absolute right of the Senate to reject,389;their privilege to give no reasons,389;the general policy of making re-nominations,389;extracts,389;memorial of the rejected directors,389;extracts,390;their rights and duties as government directors,390;opinion of Alexander Hamilton relative to government directors,391;opinion of Alexander J. Dallas,391;reasons why the motion to strike out government directors was resisted when the charter was under consideration,391;they are the guardians of the public interest, and to secure a just and honorable administration of the affairs of the bank,391;the nominations again rejected,392;reasons kept secret,392;motion made to publish the proceedings,392;lost,392;remarks on the Report of the Committee of Investigation relative to the Exchange Committee,392.Call on the President for a copy of the paper read to his Cabinet.—Request to be informed if it was genuine,399;and if so to furnish a copy,399;Senate not the branch of the Legislature to call for this document,399;uses to which the paper might be put,399;it cannot be rightfully called for,399;resolution passed,400;answer of the President,400;denied the right to call, &c.,400.Attempted Investigation.—Select Committee appointed in the House to investigate the affairs of the United States Bank,458;objects to be ascertained,459;authority given to the committee,459;right of the House to make the investigation,459;proceedings of the bank to defeat investigation,459;report of committee,459;extracts,460;treatment of their call for certain books,461;action under subpœnas,461;a warrant recommended for the apprehension of the president and directors,461;the committee of 1819,462.Investigation by the Senate.—Since much ground lost in public opinion by resisting the investigation of the House to retrieve the bank, an investigation commences in the Senate,470;committee moved,470;view of this act of the Senate,471;the members of the committee defenders of the bank,471;the only semblance of precedent,471;called the "Whitewashing Committee,"471.Downfall of the Bank.—Copy of resolutions of its stockholders,471;extracts from Philadelphia papers,472;report of the Finance Committee,481;its friendly reception,481;its contents,481;its declarations contradicted by Senator Benton,482;extracts,482;imputations upon the President, Vice-President, and Senator Benton,482;committee departed from the business with which they were charged,483;the charge of hostility to the bank on the part of the President,483;defends the Secretary of the Treasury against the imputations of the report,484;misconduct of the bank shown from recent facts,484;the abduction of a million and a half from New Orleans,485;the reportex-parte,486;reply in defence of the report,486;extracts,486.See Jackson's Administration.Banks in the District, recharter of.—Speech of Senator Benton,658;"the charters wrong,658;no bank of circulation ought to be authorized in this district,659;none to furnish other currency than large notes should be chartered anywhere,659;ameliorations in charters proposed to be granted in order to render them less dangerous to the community,659;liability of the stockholders,659;bank stock to be subject to taxation like other property,659;to issue no notes less than twenty dollars,659;the charters to be repealable at the will of Congress,659;evil of small notes classed under three heads,660;the banishment of gold and silver counterfeiting and throwing other burdens of losses upon the poorer classes,660;the basis of circulation throughout the country should be hard money,662;the true idea of banks seemed to be lost in the country,663;the faculty of issuing paper money renders banks dangerous,663;progress of banking business is alarming and deplorable in the United States,663;the burdens which the banks impose on the people,664;"recharter carried,665.Barbour, James, Senator from Virginia,7;governor,7;votes for the Missouri Compromise,8;on the Virginia resolutions,35;Secretary at War,55;negotiates treaty with the Cherokees,107.Barbour, Philip P., Representative from Virginia,7;