pare itself to meet that change in its concerns which
the expiration of the charter will produce. Mr. President, I will not
conceal my opinion that the affairs of the country are approaching an
important and dangerous crisis. At the very moment of almost
unparalleled general prosperity, there appears an unaccountable
disposition to destroy the most useful and most approved institutions of
the government. Indeed, it seems to be in the midst of all this national
happiness that some are found openly to question the advantages of the
Constitution itself and many more ready to embarrass the exercise of its
just power, weaken its authority, and undermine its foundations. How
far these notions may be carried, it is impossible yet to say. We have
before us the practical result of one of them. The bank has fallen, or
is to fall.

It is now certain, that, without a change in our public counsels, this
bank will not be continued, nor will any other be established, which,
according to the general sense and language of mankind, can be entitled
to the name. Within three years and nine months from the present moment,
the charter of the bank expires; within that period, therefore, it must
wind up its concerns. It must call in its debts, withdraw its bills from
circulation, and cease from all its ordinary operations. All this is to
be done in three years and nine months; because, although there is a
provision in the charter rendering it lawful to use the corporate name
for two years after the expiration of the charter, yet this is allowed
only for the purpose of suits and for the sale of the estate belonging
to the bank, and for no other purpose whatever. The whole active
business of the bank, its custody of public deposits, its transfer of
public moneys, its dealing in exchange, all its loans and discounts, and
all its issues of bills for circulation, must cease and determine on or
before the third day of March, 1836; and within the same period its
debts must be collected, as no new contract can be made with it, as a
corporation, for the renewal of loans, or discount of notes or bills,
after that time.

The President is of opinion, that this time is long enough to close the
concerns of the institution without inconvenience. His language is, "The
time allowed the bank to close its concerns is ample, and if it has been
well managed, its pressure will be light, and heavy only in case its
management has been bad. If, therefore, it shall pr