On the nineteenth of February, 1838, Mr. Clay once more addressed the senate in opposition to the sub-treasury plan, in one of the longest speeches he ever delivered, and made a complete _exposé_ of the ulterior intentions of the present and previous administrations, which were, to subvert the whole banking system, and build upon its ruins a mighty government, treasury bank, to be mainly organized and controlled by the executive department. During the session, Mr. Clay, in presenting a petition for the establishment of a national bank, communicated some of his own views in relation to such an institution. He desired, first, that its capital should not be enormously large――about fifty millions of dollars――and its stock divided between the general government, the states, and individual subscribers; secondly, that in its organization, reference should be had to public and private control, public and private interests, and to the exclusion of foreign influence; thirdly, that a portion of its capital should be set apart, and placed in permanent security, adequate to meet any contingency that might arise in connection with the issues of the bank; fourthly, perfect publicity in relation to all its affairs; fifthly, that its dividends should be limited to a certain per centum; sixthly, a prospective reduction in the rate of interest to six, and, if practicable, to five per centum; seventhly, that there should be a restriction upon the premium demanded upon post notes and checks used for remittance, to about one and a half per centum as the maximum between the most remote points of the union, thereby regulating domestic exchanges; eighthly, that effective provisions should be made against executive interference with the bank, and of it with the elections of the country. Such a public banking institution Mr. Clay advocated, from the conviction that it would perform every thing requisite in furnishing a good currency. The question of its constitutionality, he considered as satisfactorily settled by the fact, that the people during forty years had cherished the bank, that it had been approved by Washington, the father of his country, by Madison, the father of the constitution, and by Marshall, the father of the judiciary.