During the last year the approaching termination, according to the
provisions of its charter and the solemn decision of the American
people, of the Bank of the United States made it expedient, and its
exposed abuses and corruptions made it, in my opinion, the duty of the
Secretary of the Treasury, to place the moneys of the United States in
other depositories. The Secretary did not concur in that opinion, and
declined giving the necessary order and direction. So glaring were the
abuses and corruptions of the bank, so evident its fixed purpose to
persevere in them, and so palpable its design by its money and power to
control the Government and change its character, that I deemed it the
imperative duty of the Executive authority, by the exertion of every
power confided to it by the Constitution and laws, to check its career
and lessen its ability to do mischief, even in the painful alternative
of dismissing the head of one of the Departments. At the time the
removal was made other causes sufficient to justify it existed, but
if they had not the Secretary would have been dismissed for this
cause only.
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