History of the United States of America, Volume 5 (of 9) : $b During the first administration of James MadisonAdams, Henry
History
History of the United States of America, Volume 5 (of 9) : $b During the first administration of James Madison
Adams, Henry
United States -- History -- 1801-1809; United States -- History -- 1809-1817
Under Gallatin’s teaching, Crawford bade fair to make himself, what
the South so greatly needed, a statesman who understood its interests;
but he was far in advance of his people. The society from which he
sprang was more correctly represented by Giles, who answered him in
the manner for which the Virginia senator had acquired unpleasant
notoriety. February 14 John Randolph, who with all his faults was not
so factious as to join in the scheme of the State banks, wrote to his
friend Nicholson:[271] “Giles made this morning the most unintelligible
speech on the Bank of the United States that I ever heard.” Never had
Giles taken more trouble to be judicial, candid, and temperate; no one
could have admitted with more impartiality the force of his opponent’s
arguments; but his instincts, stronger than his logic, compelled him to
vote against the Bank. The conclusion was as certain as the process was
vague.
Henry Clay, who followed on the same side, ironically complimented
the Virginia senator, who had “certainly demonstrated to the
satisfaction of all who heard him both that it was constitutional and
unconstitutional, highly proper and improper, to prolong the charter
of the Bank;” but Clay’s irony was as unfortunate as Giles’s logic. The
sarcasm thrown at Giles recoiled on Clay himself, for he passed the
rest of his life in contradicting and repenting the speech he made at
this moment, in which he took ground against the power of Congress to
create corporations. “The power to charter companies is not specified
in the grant, and, I contend, is of a nature not transferable by mere
implication. It is one of the most exalted attributes of sovereignty.”
The legislation of twenty years which enforced the opposite opinion
he swept aside in his peculiar manner. “This doctrine of precedents,
applied to the legislature, appears to me to be fraught with the most
mischievous consequences.” With more than his ordinary self-confidence,
he affirmed that the Treasury could be as well conducted without as
with the Bank; and he closed with a burst of rhetoric hardly to be
paralleled in his oratory, by holding the Bank responsible for not
preventing Great Britain from attacking the “Chesapeake,” impressing
American seamen, and issuing the Orders in Council.
Clay’s excuse for extravagances like these was neither his youth nor
his ignorance of affairs nor his obedience to instructions, nor yet a
certain want of tact which made him through life the victim of needless
mistakes, but was rather the simple repentance with which, within five
years, he threw himself on the mercy of the public, admitting that had
he foreseen the effect of his course he would have acted in a very
different way.[272] Even for Giles some apology might be made, for no
one could deny that consistency required him to vote as he did, and he
could appeal to the record in his defence. The worst offender was not
Giles or Clay, but Samuel Smith.
Public-domain text, read in full here on John Shaqi.
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