Thus arranged, although it would not give to
the Government that entire control over its own funds which I desire to
secure to it by the plan I have proposed, it would, it must be admitted,
in a great degree accomplish one of the objects which has recommended
that plan to my judgment--the separation of the fiscal concerns of the
Government from those of individuals or corporations.
With these observations I recommend the whole matter to your
dispassionate reflection, confidently hoping that some conclusion may
be reached by your deliberations which on the one hand shall give
safety and stability to the fiscal operations of the Government, and
be consistent, on the other, with the genius of our institutions and
with the interests and wishes of the great mass of our constituents.
It was my hope that nothing would occur to make necessary on
this occasion any allusion to the late national bank. There are
circumstances, however, connected with the present state of its affairs
that bear so directly on the character of the Government and the welfare
of the citizen that I should not feel myself excused in neglecting to
notice them.
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