Moved by this frank hostility and anxious for the future, the bank applied to Congress for a renewal of its charter in 1832, four years before the expiration of its life. Clay, with his eye upon the presidency and an issue for the campaign, warmly supported the application. Congress, deeply impressed by his leadership, passed the bill granting the new charter, and sent the open defiance to Jackson. His response was an instant veto. The battle was on and it raged with fury until the close of his second administration, ending in the destruction of the bank, a disordered currency, and a national panic. In his veto message, Jackson attacked the bank as unconstitutional and even hinted at corruption. He refused to assent to the proposition that the Supreme Court had settled the question of constitutionality by the decision in the McCulloch case. "Each public officer," he argued, "who takes an oath to support the Constitution, swears that he will support it as he understands it, not as it is understood by others." Not satisfied with his veto and his declaration against the bank, Jackson ordered the Secretary of the Treasury to withdraw the government deposits which formed a large part of the institution's funds. This action he followed up by an open charge that the bank had used money shamefully to secure the return of its supporters to Congress. The Senate, stung by this charge, solemnly resolved that Jackson had "assumed upon himself authority and power not conferred by the Constitution and laws, but in derogation of both." The effects of the destruction of the bank were widespread. When its charter expired in 1836, banking was once more committed to the control of the states. The state legislatures, under a decision rendered by the Supreme Court after the death of Marshall, began to charter banks under state ownership and control, with full power to issue paper money--this in spite of the provision in the Constitution that states shall not issue bills of credit or make anything but gold and silver coin legal tender in the payment of debts. Once more the country was flooded by paper currency of uncertain value. To make matters worse, Jackson adopted the practice of depositing huge amounts of government funds in these banks, not forgetting to render favors to those institutions which supported him in politics--"pet banks," as they were styled at the time. In 1837, partially, though by no means entirely, as a result of the abolition of the bank, the country was plunged into one of the most disastrous panics which it ever experienced.