exclusively metallic currency is
totally incompatible, in the existing state of the world, with an active
and extensive commerce. It is inconsistent, too, with the greatest good
of the greatest number; and therefore I oppose it.

But, Sir, how are we to get through the first experiment, so as to be
able to try that which is to be final and ultimate, that is to say, how
are we to get rid of the State banks? How is this to be accomplished? Of
the Bank of the United States, indeed, we may free ourselves readily;
but how are we to annihilate the State banks? We did not speak them into
being; we cannot speak them out of being. They did not originate in any
exercise of our power; nor do they owe their continuance to our
indulgence. They are responsible to the States; to us they are
irresponsible. We cannot act upon them; we can only act with them; and
the expectation, as it would appear, is, that, by zealously co-operating
with the government in carrying into operation its new theory, they may
disprove the necessity of their own existence, and fairly work
themselves out of the world! Sir, I ask once more, Is a great and
intelligent community to endure patiently all sorts of suffering for
fantasies like these? How charmingly practicable, how delightfully
probable, all this looks!

I find it impossible, Mr. President, to believe that the removal of the
deposits arose in any such purpose as is now avowed. I believe all this
to be an after-thought. The removal was resolved on as a strong measure
against the bank; and now that it has been attended with consequences
not at all apprehended from it, instead of being promptly retracted, as
it should have been, it is to be justified on the ground of a grand
experiment, above the reach of common sagacity, and dropped down, as it
were, from the clouds, "to witch the world with noble policy." It is not
credible, not possible, Sir, that, six months ago, the administration
suddenly started off to astonish mankind with its new inventions in
politics, and that it then began its magnificent project by removing the
deposits as its first operation. No, Sir, no such thing. The removal of
the deposits was a blow at the bank, and nothing more; and if it had
succeeded, we should have heard nothing of any project for the final
putting down of all State banks. No, Sir, not one word. We should have
heard, on the contrary, only of their usefulness, their excellence, and
their exact adaptation to the us