Beacon Lights of History, Volume 12: American LeadersLord, John
History
Beacon Lights of History, Volume 12: American Leaders
Lord, John
History; United States -- Biography
In consequence, Woodbury, on June 27, 1829, wrote to Ingham, Secretary
of the Treasury, making complaints against the president of the branch
bank in Portsmouth for roughness of manner, partiality in loans, and
severity in collections. The accused official was no less a man than
Jeremiah Mason, probably the greatest lawyer in New England, if not of
the whole country, the peer as well as the friend of Webster. Ingham
sent Woodbury's letter to Biddle, intimating that it was political
partiality that was complained of. Then ensued a correspondence between
Biddle and Ingham,--the former defending Mason and claiming complete
independence for the Bank as to its management, so long as it could not
be shown to be involved in political movements; and the latter accusing,
threatening to remove deposits, attempting to take away the pension
agency from the Portsmouth branch, _et cetera_. It was a stormy summer
for the Bank.
Thus things stood until November, when a letter appeared in the New York
"Courier and Inquirer," stating that President Jackson, in his
forthcoming first annual message to Congress, would come out strongly
against the Bank itself. And sure enough, the President, in his message,
astonished the whole country by a paragraph attacking the Bank, and
opposing its recharter. The part of the message about the Bank was
referred to both Houses of Congress. The committees reported in favor of
the Bank, as nothing could be said against its management. Again, in the
message of the President in 1830, he attacked the Bank, and Benton, one
of the chief supporters of Jackson in spite of their early duel,
declared in the Senate that the charter of the Bank ought not to be
renewed. Here the matter dropped for a while, as Jackson and his friends
were engrossed in electioneering schemes for the next presidential
contest, and the troubles of the cabinet on account of the Eaton scandal
had to be attended to. As already noted, they ended in its dissolution,
followed by a new and stronger cabinet, in which Ingham was succeeded as
Secretary of the Treasury by Louis McLane.
Public-domain text, read in full here on John Shaqi.
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