FREE BOOKS

Author's List




PREV.   NEXT  
|<   132   133   134   135   136   137   138   139   140   141   142   143   144   145   146   147   148   149   150   151   152   153   154   155   156  
157   158   159   160   161   162   163   164   165   166   167   168   169   170   171   172   173   174   175   176   177   178   179   180   181   >>   >|  
t the longing had entered his soul. He could not rid himself of the idea of this final culmination to his success; and it warped his feelings and actions, injured his career, and embittered his last years. This notice of the presidential election of 1836 has somewhat anticipated the course of events. Soon after the tariff compromise had been effected, Mr. Webster renewed his relations with Mr. Clay, and, consequently, with Mr. Calhoun, and their redoutable antagonist in the President's chair soon gave them enough to do. The most immediate obstacle to Mr. Webster's alliance with General Jackson was the latter's attitude in regard to the bank. Mr. Webster had become satisfied that the bank was, on the whole, a useful and even necessary institution. No one was better fitted than he to decide on such a question, and few persons would now be found to differ from his judgment on this point. In a general way he may be said to have adopted the Hamiltonian doctrine in regard to the expediency and constitutionality of a national bank. 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. A month later, Mr. Webster came forward with resolutions from Boston against the course of the President. He presented the resolutions in a powerful and effective speech, depicting the deplorable condition of business, and the injury caused to the country by the removal of the deposits. He rejected the idea of leaving the currency to the control of the President, or of doing away entirely with paper, and advocated the re-charter of the present bank, or the creation of a new one; and,
PREV.   NEXT  
|<   132   133   134   135   136   137   138   139   140   141   142   143   144   145   146   147   148   149   150   151   152   153   154   155   156  
157   158   159   160   161   162   163   164   165   166   167   168   169   170   171   172   173   174   175   176   177   178   179   180   181   >>   >|  



Top keywords:

President

 

Webster

 
resolutions
 

deposits

 
removal
 

Jackson

 

charter

 

regard

 

government

 

thrown


States

 
contraction
 

distress

 

commercial

 
result
 
confusion
 
United
 

summer

 

changing

 
Secretary

Treasury
 

perfected

 

scheme

 

remained

 
signed
 
September
 

removing

 

presented

 

powerful

 

effective


speech
 

Boston

 

forward

 

depicting

 

deplorable

 

leaving

 

currency

 

control

 

rejected

 
country

condition

 
business
 
injury
 

caused

 

ensued

 
battle
 

opened

 
introducing
 

present

 
leaders