There were intimations in the spring of 1833 that the President, not content with preventing the re-charter of the bank, was planning to strike it down, and practically deprive it of even the three years of life which still remained to it by law.

The scheme was perfected during the summer, and, after changing his Secretary of the Treasury until he got one who would obey, President Jackson dealt his great blow.

On September 26 Mr.Taney signed the order removing the deposits of the government from the Bank of the United States.

The result was an immediate contraction of loans, commercial distress, and great confusion.
The President had thrown down the gage, and the leaders of the opposition were not slow to take it up.

Mr.Clay opened the battle by introducing two resolutions,--one condemning the action of the President as unconstitutional, the other attacking the policy of removal, and a long and bitter debate ensued.