A Compilation of the Messages and Papers of the Presidents. Volume 2, part 3: Andrew Jackson, 1st term
History
A Compilation of the Messages and Papers of the Presidents. Volume 2, part 3: Andrew Jackson, 1st term
Jackson, Andrew, 1767-1845; Presidents -- United States; United States -- History -- Sources; United States -- Politics and government
Suspicions are entertained and charges are made of gross abuse and
violation of its charter. An investigation unwillingly conceded and so
restricted in time as necessarily to make it incomplete and
unsatisfactory discloses enough to excite suspicion and alarm. In the
practices of the principal bank partially unveiled, in the absence of
important witnesses, and in numerous charges confidently made and as yet
wholly uninvestigated there was enough to induce a majority of the
committee of investigation--a committee which was selected from the most
able and honorable members of the House of Representatives--to recommend
a suspension of further action upon the bill and a prosecution of the
inquiry. As the charter had yet four years to run, and as a renewal now
was not necessary to the successful prosecution of its business, it was
to have been expected that the bank itself, conscious of its purity and
proud of its character, would have withdrawn its application for the
present, and demanded the severest scrutiny into all its transactions.
In their declining to do so there seems to be an additional reason why
the functionaries of the Government should proceed with less haste and
more caution in the renewal of their monopoly.
The bank is professedly established as an agent of the executive branch
of the Government, and its constitutionality is maintained on that
ground. Neither upon the propriety of present action nor upon the
provisions of this act was the Executive consulted. It has had no
opportunity to say that it neither needs nor wants an agent clothed with
such powers and favored by such exemptions. There is nothing in its
legitimate functions which makes it necessary or proper. Whatever
interest or influence, whether public or private, has given birth to
this act, it can not be found either in the wishes or necessities of the
executive department, by which present action is deemed premature, and
the powers conferred upon its agent not only unnecessary, but dangerous
to the Government and country.
Public-domain text, read in full here on John Shaqi.
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