Departments to decide in the first instance, subject to the future
action of the legislative power, whether the public deposits shall
remain in the Bank of the United States until the end of its existence
or be withdrawn some time before, the President has felt himself bound
to examine the question carefully and deliberately in order to make up
his judgment on the subject, and in his opinion the near approach of
the termination of the charter and the public considerations heretofore
mentioned are of themselves amply sufficient to justify the removal of
the deposits, without reference to the conduct of the bank or their
safety in its keeping.

But in the conduct of the bank may be found other reasons, very
imperative in their character, and which require prompt action.
Developments have been made from time to time of its faithlessness as
a public agent, its misapplication of public funds, its interference in
elections, its efforts by the machinery of committees to deprive the
Government directors of a full knowledge of its concerns, and, above
all, its flagrant misconduct as recently and unexpectedly disclosed
in placing all the funds of the bank, including the money of the
Government, at the disposition of the president of the bank as means
of operating upon public opinion and procuring a new charter, without
requiring him to render a voucher for their disbursement. A brief
recapitulation of the facts which justify these charges, and which have
come to the knowledge of the public and the President, will, he thinks,
remove every reasonable doubt as to the course which it is now the duty
of the President to pursue.

We have seen that in sixteen months ending in May, 1832, the bank
had extended its loans more than $28,000,000, although it knew the
Government intended to appropriate most of its large deposit during that