The attainment of such a result will form an era in the history
of our country which will be dwelt upon with delight by every true
friend of its liberty and independence. It will lighten the great
tax which our paper system has so long collected from the earnings of
labor, and do more to revive and perpetuate those habits of economy and
simplicity which are so congenial to the character of republicans than
all the legislation which has yet been attempted.
To this subject I feel that I can not too earnestly invite the special
attention of Congress, without the exercise of whose authority the
opportunity to accomplish so much public good must pass unimproved.
Deeply impressed with its vital importance, the Executive has taken all
the steps within his constitutional power to guard the public revenue
and defeat the expectation which the Bank of the United States indulged
of renewing and perpetuating its monopoly on the ground of its necessity
as a fiscal agent and as affording a sounder currency than could be
obtained without such an institution. In the performance of this duty
much responsibility was incurred which would have been gladly avoided if
the stake which the public had in the question could have been otherwise
preserved.
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