his testimony as to its value, 255, 256; estimate as to state banks in 1811, 258; describes hostility of Astor to bank, 259; left, by failure to renew bank charter, at mercy of capitalists, 260; his opinion that absence of bank caused suspension of specie payments in 1815, 262; on Jefferson's proposal to issue paper money, 264; his success a vindication of Federalist finance, 266; opinion of services of second national bank, 266; declines offer of secretaryship in 1816, 266, 267; urges Madison to restore specie payment, 267; declines position as president of Bank of United States in 1822, 268; prepares statement of relative value of gold and silver, 268; writes "Considerations on Currency and Banking," 268; advocates use of specie and limited use of paper money, 268; accepts presidency of National Bank of New York, 269; his opinion of Jackson, 270; his bank involved in panic of 1837, 272; conducts resumption, 273; chairman of committee of banks, 273; submits reports, 275; declines presidency of Bank of Commerce, 276; resigns presidency of National Bank, 277; publishes "Suggestions on Banks and Currency," 277; condemns paper money, 277; declines offer of Treasury Department from Tyler, 278; in the cabinet, agrees with Republican leaders on all points except bank, 279, 280; prepares circular announcing disregard of party in appointments, 281; and condemning political influence of officials, 281; his policy opposed by Jefferson, 282; obliged to follow cabinet in policy of partisan appointments, 282; advises early preparation for campaign of 1804, 283; wishes States divided into election districts, 283; criticises annual messages of Jefferson, 283; his proposal to appoint a woman to office condemned by Jefferson, 283; suggests in vain regular cabinet consultations, 283, 284; urges payment of tribute to Tripoli rather than war, 284; opinion asked on points of constitutional law, 284; holds inherent right of United States to acquire territory, 285; disapproves of Texas annexation, 285; advises Jefferson concerning Louisiana treaty, 285, 286; attacked by Duane, for not turning out Federalists, 286; absence of favoritism in his appointments, 286, 287; supervises sale of lands, 287; acquaintance with Choteau, 278; drafts promise of protection for Astor's fur trade, 288; opposes vainly Jefferson's gunboat scheme, 289; submits plan of defense against England, 289; urges moderate tone in message, 290; devises scheme of internal improvements, 290; doubts success of a National University, 291; opposes a permanent embargo, 291; prepares Campbell's report urging resistance, 292; receives authority from Congress to enforce non-intercourse, 293; favors war, 293; submits "Notes on Political Situation," 294; opposes ordering out naval force in favor of letters of marque, 294; his appointment as secretary of state prevented by Republican