CHAPTER XXII.
MORE DIFFICULTIES STRAIGHTENED OUT.
Van Buren, the eighth President, was unfortunate in taking the helm as the financial cyclone struck the country. This was brought about by scarcity of funds more than anything else. Business-men would not pay their debts, and, though New York was not then so large as at present, one hundred million dollars were lost in sixty days in this way.
The government had required the payments for public lands to be made in coin, and so the Treasury had plenty of gold and silver, while business had nothing to work with. Speculation also had made a good many snobs who had sent their gold and silver abroad for foreign luxuries, also some paupers who could not do so. When a man made some money from the sale of rural lots he had his hats made abroad, and his wife had her dresses fitted in Paris at great expense. Confidence was destroyed, and the air was heavy with failures and apprehension of more failures to come.
The Canadians rebelled against England, and many of our people wanted to unite with Canada against the mother-country, but the police would not permit them to do so. General Scott was sent to the frontier to keep our people from aiding the Canadians.