Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-05-18
s p T. ECH
DANIEL WEBSTER.
1T .tIBLO'S SfLOON, IN NJ YORK
MARCH I5, 1887.
CONE COUNTRY-ONEC CONSTITU.
TION-ONE DESTINY,
fcONcLUDED FROM OUR LAsT.l


TION-ONE DESTINY
cONcLUDED FROM OUR LAsT.l
Mr.. Adams CONNIE need his administration
in March 1925. lie Ind been elected bv the
House Of Representatives, and begnn his ca.
repr as President under n strong and power.
ful opposition. From the very first day he
was warmly, even violently opposed in all his
measures; and this opposition.as we all know
continued without abatement, either in force
or asperity, through the whole term Of -four
years. Gentlemen. am not about to saw
whether this opposition was well or i'll found
cd, Just or unjust. | only state the fact o.
connected with other facts. The Bank OF th"
United States during the four years of Mr.
Adams administration, was in full operation
II was performing the fiscal duties enjoined
on il by it's charter; II had established numcr-
ous branches-wns maintaining large cir
culaiion, and trnnsacting a vast business in
Exchange. It's character, conduct. md man
n"r of administration, were all well known to
the whole country.
7 Now there are two or three things worthy
Of especial notice. One is, That during the
whole Of this heated controversy, from 1895
to 1890 the Party which was endeavoring to
produce change Of administration. brought
no charge Of political interference against the
Bank of the United States. II any thing. it
was rather favorte with the party general
ly. Certainly, the party, as party, did not
ascribe to il undue attachment to other par
tics, or TO the existing administration.
Another important fact is. that during the
whole Of the same period, those who had es.
pouscd the cnuse Of Gen. Jackson. and who
sought 10 bring about revolution under his
name, did not propose the destruction Of the
Bank, or its discontinuance, as one Of the OBJ
jects which were to he accomplished by :hc
proposed revolution. They did not tell the
country that the Bank was unconstitutional;
they did not declare it unnecessary; they did
not propose to get along without II, when
they should come into power themselves. If
individuals entcrtnined any snch purpose, they
kept them much to themselves. The party ,as n
party. avowcd none such. third fact, wor-
thy Of all notice, is, that, during this period,
there was no complaint about the state Of tho
currency, either by the country, generally, or
by the party then in opposition.
Tn March, 1899, Gen. Jackson was inangu-
rated. lie came in on professions Of Reform.
lie announced reform Of all abuses to he the
great and leading object Of his future admin
istraton;and in his inaugural address he point
cd ont the main subjects Of this reform. But
the Bank was not one Of them.-lt was not
said the Bank was unconstitutional. 1t was
not said it was unnecessary. or useless. II
was not said that il had failed To do all that
had been hoped or expected from it,D regard
to the currency.
In March, 1890. then, the Bank stood well,
very well, with the new administration. II
was regarded, 90 far RS appears, as entirely
constitutional free from political or party taint,
and highly useful. 1t had. as vet, found no
place in the catalogue Of abuses to be reform
ed.
But, gentlemen, nine months wrought a
wonderful change. New lights broke forth,
before these months had rolled away, and the
President in his message to Congress- in Dec.
lS2D, held very different language, and mani
tested very different purposes.
Although the Bank bad then five or six
years Of its charter unexpired. he vet called
the attention of Congress, very pointedly, to
the subject, and dccared:- I,
]. That the constitutionality Of the Bank
was we'll doubted by many; h
9. That its utility or cxpcdiency was also
we'll doubted; A
3. That all must admit that il had failed in
and "a
a. That the true Bank for tho use of the
Government Mt Of the United S'ntes, would he
Bank which should be founded on the rev.
nues and credit of the Government itself
These propositions appeared to me. at the
in,e, az very extraordinary, and the last one |
a startling. A Bank. founded on the reven.
10 and credit Of the Government, and man
ged and administered bv the execn,ive,was a
conception, which I had supposed No man
oding the Chief Executive Power in his
wn hands would venture to put forth. -
But the question now is, what had wrought
his great change of feeling md of purpose in
egard to the Bank? What events had oc-
urred between March and December, That
hould have caused the Bank, so constitution c
J. so useful, go peaceful, md so safe an in !
fi'ution, in tho first OF these months. to start
p IN the character Of a monster. and become I
D horrid and dangerous, in the lasi?
Gentlemen, let us see what the events I
ere which had intcrvcned. G
Gen. Jackson was elected in December v
'2s. His term was To begin IN March. 1s- v
J. a session Of Congress took place, there =
re. between his election and the commence d
ont Of his administration. il
Now, Gentlemen. the truth il, that during
is scssion,and a little before the commence IL
ent Of the new administration, a disposition Il
ns manifested bv political men to interfere p
Nh the management of the Bank. Members u
Congress undertook ~ nominate or rc. c
m,nend individuals os Directors in the "
'nnches. or offices, Of the Bank. They W
ere kind enough sometimes. TO make ont Al
hole lists. or tickets, and send them to Phi d.