The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1843-10-23
Correspondence Of The Bg6a'o Daily Gusette.J


That the establishment of National Bank is one
Of the promi emf articles in the creed of the po
lticaLfriends Of Mr. Clay forming what is called the
'Whg party proper" sa fact which no ole, pro-
badly, pretends to dispute.
In defence OF their continued attachment to, and
advocacy ofa Bank Of the United States the friends Of
Mr.. Clay appeal to the political revolution of 1910,
and assert that by the election of General Harrison
large majority Of the people of the Union expressed
themselves in favor of the re-charter of that nsttu
ton.
Let us refer back to the election of $780, and ex-
anime whether the issues then made, and the circun-
stances under which the election conducted,
Justify such inference on the part of Mr. Clay
his political friends.
General Harrison was not elected to the Presiden.
sy by the Wing party by the advocates of United
States Bank. The great opposition party, first or
ganized in 1888 and reaching the zenith of its power
in 1910, was composed of various, and, to some
tent dscordant materials. All who dissatisfied
with the existing state Of thngs-all who, suffering
under the embarrassments of The period looked and
looked in vain TO the government for relief joined
together, and rose together TO effect change of men
and change OF policy.
A Democratic Administration had held the reins
OF power for period Of nearly twelve years. Dur
ing that time the people had enjoyed what seemed to
be unexamPed prosperity, but which was speedily
followed by the necessary consequence of Overtradng
and inflated paper currency extreme depression and
embarrassment. Those who suffered from the con-
sequences of mercantile gambling speculations
(and few were not directly indirectly to be
bered among the victims) looked to the government
for relief.
Such being the state Of feelings among large por-
ton Of the people, who eagerly sought for any change
which might relieve them from the embarrassment
under which they abored il was an easy task TO in
duce vast majority to vote for General Harrison as
the candidate of the GREAT OPPOSITION PARTY
To this must add the generous enthusiasm which
leads every warm-hearted people to cast their suf
frages in favor of one who has brayey fought the
battles Of his country and shed blood in the defence
Of her liberties.
This was the whole secret Of the matter. The
] people suffered and they wanted a change. Under
the existing administration they found relief, and
they determined to try new The military ar
dor Of many was excited, and they resolved TO choose
hero for their President
/ But although the majority Of the great opposition
party were not in favor Of a government bank-a
segment Of that psrty-a segment too, which, though
the least in numbers, appeared TO rule the whole, and
! IN whose name the campaign coDducted-fhe
! Wing party proper certainly was the advocate Of
such institution. What line Of policy they deter
mined, or at least professed to pursue be best
sscertained by reference to their great apostle
/ Henry Clay.
When Mr.. Clay brought forward his plan for fifty
million Bank in the Senate in 1888, he made use Of
the following language;
81 should regret TO see Bank established, unless
it ioas clearly called for BY public opinion believe it
IS now desired by majority of the people Of the u.
>. But oil mat there does not exist perhaps
elusive evidence. Let us iCait until demonstrations Of
their ioiH shall be clearly given and let US all submit
and, for one, shall most cheefy, 10 their decision,
iOhateper Il may be. "-Reported in Nat Integencer,
May y, 1888
Mr. Clay here clearly agrees to postpone the ques-
ton o. bank, until the people should give unequi-
vocal demonstrations in its favor.
The great opposition party, composed il was OF
various elements, determined to select candidate
for the Presidency by convention to which dele
gates should be sent from all the States The Ma
tonal Convention was accordingly held at Harris.
burg. Mr.. Clay was the favorte candidate of the
wings proper, or bank men, Foremost in the lists as
the champion and defender Of that institution during
a series Of years-stsndng at the head Of his parti-
GUAR partyof great talents and distinguished re-
pufation, ne was Of course the man OF all others
most calculated TO advance the views Of those who
were, like himself committed 10 National Bank
But the advocates of Bank, not forming majority
of the people, nor Of the opposition party, Of
course in q minority at the Harrisburg Convention
and Mr. Clay was consequently not nominated for the
Il Presidency.
The majority Of the Convention, faithfully repre-.
senng large majority of the great opposition party
/ in their aversion TO National Bank, found il neces-
sary 10 look elsewhere for their candidate and in
lecfng General Harrison they chose one whose often
repeated opinions against the constilutionality Of
Bank Of the u. S. could leave no possible doubt OF
his future course that subject in the minds Of the
! well-iniormcd and intelligent gentlemen who COM
posed the National Convention.
On this branch Of our subject II may be well TO
dwell with some particularly. And first will quote
an extract from a manuscript letter now before me,
signed by Messrs. DaUid GHiane, j. G. Wrgh, O. w.
Spencer and Rufus Hodges, dated Cincinnati, Feb 10,
1870 the original of which is at your service, Mr..
Editor IL the correctness Of my quotation should be
disputed
"Your letter Of the 26th ult, addressed 10 General
Harrison has been placed in our possession with
view 10 an early answer. SO numerous are the calls
upon the General from every section of the u 81,
that his reply in person has been rendered mpract-