Speech Delivered By Daniel Webster At Niblo's Saloon, in New York, On the 15th March, 1837

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No law had caused the removal of the Deposites; no law had authorized the selection of Depos- ile State Banks ; no law had prescribed the terms on which the revenues should be placed in such Banks. From the beginning of the chapter to the end, it was all Executive Edict. And now, Gentlemen, I ask if it be not most remarkable, that in a country professing to be under a government of laws, such great and im- portant changes in one of its most essential and vital interests should be brought about ...without any change of law, without any 26 enactment of the Legislature whatever. Is such a power trusted to the Executive of any Government, in whicli the Executive is separated by clear and well-defined lines from the Legislative Department ? The currency of the country stands on the same general ground as the commerce of the country. Both arc inti- mately connected, and both are subjects of legal, not of Execu- tive regulation.
It is worthy of notice, that the writers of the Federalist, in dis- cussing the powers which the Constitution conferred on the Pres- ident, made it matter of connnendation that it withdraws this subject altogether from his grasp.


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