I have found no reason to change my own opinion as to the expediency
of adopting the system proposed, being perfectly satisfied that there
will be neither stability nor safety either in the fiscal affairs
of the Government or in the pecuniary transactions of individuals and
corporations so long as a connection exists between them which, like
the past, offers such strong inducements to make them the subjects
of political agitation. Indeed, I am more than ever convinced of
the dangers to which the free and unbiased exercise of political
opinion--the only sure foundation and safeguard of republican
government--would be exposed by any further increase of the already
overgrown influence of corporate authorities. I can not, therefore,
consistently with my views of duty, advise a renewal of a connection
which circumstances have dissolved.
The discontinuance of the use of State banks for fiscal purposes ought
not to be regarded as a measure of hostility toward those institutions.
Banks properly established and conducted are highly useful to the
business of the country, and will doubtless continue to exist in the
States so long as they conform to their laws and are found to be safe
and beneficial.
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