A new state of things has, however, arisen since the close of the
last session of Congress, and evidence has since been laid before
the President which he is persuaded would have led the House of
Representatives to a different conclusion if it had come to their
knowledge. The fact that the bank controls, and in some cases
substantially _owns_, and by its money _supports_ some of the leading
presses of the country is now more clearly established. Editors to
whom it loaned extravagant sums in 1831 and 1832, on unusual time and
nominal security, have since turned out to be insolvent, and to others
apparently in no better condition accommodations still more extravagant,
on terms more unusual, and some without any security, have also been
heedlessly granted.

The allegation which has so often circulated through these channels that
the Treasury was bankrupt and the bank was sustaining it, when for many
years there has not been less, on an average, than six millions of
public money in that institution, might be passed over as a harmless
misrepresentation; but when it is attempted by substantial acts to
impair the credit of the Government and tarnish the honor of the
country, such charges require more serious attention. With six millions
of public money in its vaults, after having had the use of from five to
twelve millions for nine years without interest, it became the purchaser
of a bill drawn by our Government on that of France for about $900,000,
being the first installment of the French indemnity. The purchase money
was left in the use of the bank, being simply added to the Treasury
deposit. The bank sold the bill in England, and the holder sent it to
France for collection, and arrangements not having been made by the
French Government for its payment, it was taken up by the agents of the
bank in Paris with the funds of the bank in their hands. Under these