The Bank was vulnerable on more than one side. Largely owned in England, it roused jealousy as a foreign influence. Congress could hardly blame this ownership, since Congress itself, in 1802, aided President Jefferson in selling to the Barings, at a premium of forty-five per cent, the two thousand two hundred and twenty Bank shares still belonging to the government. The operation brought to the Treasury not only a profit of four hundred thousand dollars in premiums, but also about thirteen hundred thousand dollars of British capital to be used for American purposes. Fully two thirds of the Bank stock, amounting to ten million dollars, were owned in England; all the five thousand shares originally subscribed by the United States government had been sold to England; and as the Bank was a mere creature of the United States government, these seven millions of British capital were equivalent to a score of British frigates or regiments lent to the United States to use against England in war. By returning them, the United States seriously weakened themselves and strengthened their enemy. Unfortunately this interest was national. Local interests felt that Englishmen received profits which should belong to Americans; and capitalists in general were not inclined to lower their profits by inviting foreign capital into the country unless they shared its returns. The second misfortune of the Bank was that of being a Federalist creation, chiefly used for the benefit of Federalists, who owned most of the active capital in the country. The third objection went deeper. The Bank was the last vestige of strong government created by the Federalists,--a possible engine of despotism; and no one could deny that if decentralization was wise, the Bank should be suppressed. Finally, the Bank was a bulwark to Gallatin; its destruction would weaken Madison and drive Gallatin from office.