Excerpt from Speech of the Hon. Ben Hardin, on the Subject of the Removal of the Deposites: Delivered in the House of Representatives, April 1 and 3, 1834
Resolutions reported by the Committee of Ways and Means, to whom were referred the reasons of the Secretary of the Treasury for removing the public deposites from the Bank of the United States, and placing them in banks incorporated by the different States.
1. Resolved, That the Bank of the United States ought not to be rechartered.
2. Resolved, That the public deposites ought not to be restored to the Bank of the United States.
3. Resolved, That the State banks ought to be continued as the places of deposite of the public money, and that it is expedient for Congress to make further provision, by law, prescribing the mode of selection, the securities to be taken, and the manner and terms on which they are to be employed.
The following amendment was offered by Mr. Wilde:
"Resolved, That the reasons assigned by the Secretary of the Treasury, for the removal of the public deposites from the Bank of the United States, are unsatisfactory and insufficient."
The above resolutions being under consideration, Mr. Hardin, of Kentucky, addressed to the House of Representatives the following remarks:
Mr. Speaker: On Friday, it is well recollected by the House, it was either my good or ill fortune to make an attempt to obtain the floor, for the purpose of submitting to the consideration of the members my views upon the resolutions and amendment now under discussion. In that attempt I was successful; but the hour was late, and I was not then immediately prepared to proceed with my argument. I was compelled to ask for an adjournment, and throw myself upon the kind, liberal, and generous feelings of the members of this honorable body. The appeal was not made in vain; the favor was accorded to me. This is the first opportunity I have had to declare how deeply penetrated with gratitude I am, and at the same time to make my most profound acknowledgments for the manifestations of that kindness towards me. I should be happy if I had any return to make more than an expression of thanks; but, in candor, I must declare I have nothing. I cannot promise to be brief, for the resolutions and amendment embrace such a variety of matter, so diversified and so important, that to pursue the course of argument I propose to do, and at the same time to answer some of the most prominent arguments used by those opposed to me, would render it out of my power to redeem the pledge were I to make it.
It would be some comfort and consolation to me, and, perhaps, equally so to the House, if I could give any assurances of casting and throwing any new and additional lights upon the subject of debate.
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