Page:Life of Henry Clay (Schurz; v. 2).djvu/39

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THE REMOVAL OF THE DEPOSITS.
29

The twenty-third Congress, which met under these circumstances on December 2, 1833, became distinguished by the unusual array of talent in its ranks, as well as the stormy character of its proceedings. It was then that the great duel between Clay and Jackson, as the leaders of the opposing forces, reached its culmination; and by Clay's side stood, — now for the first time united in open opposition to Jackson, — Webster and Calhoun. Jackson's supporters were in the minority in the Senate, but commanded a large majority in the House of Representatives. In his annual message the President announced that he had urged upon the Treasury Department the propriety of removing the deposits from the Bank of the United States, and that accordingly it had been done. He denounced the bank as having attempted to corrupt the elections with money, and as being “converted into a permanent electioneering machine.” The question was presented, he said, whether true representatives of the people or the influence of the bank should govern the country. He accused the bank of attempting to force a restoration of the deposits, and to extort from Congress a renewal of its charter, by curtailing accommodations and hoarding specie, thus creating artificial embarrassment and panic.

The Secretary of the Treasury, Taney, in his report to Congress, argued that under the law he had the right to remove the deposits whenever in his opinion the public interest would be benefited