History of the United States of America, Volume 9 (of 9) : $b During the second administration of James Madison — John Shaqi
History of the United States of America, Volume 9 (of 9) : $b During the second administration of James MadisonAdams, Henry
History
History of the United States of America, Volume 9 (of 9) : $b During the second administration of James Madison
Adams, Henry
United States -- History -- 1801-1809; United States -- History -- 1809-1817
Under such circumstances, without an anxiety in regard to foreign or
domestic affairs, President Madison sent his Annual Message to Congress
December 5, 1815. It told a pleasant story of successful administration
and of rapidly growing income; but its chief historical interest
lay in the lines of future party politics that Madison more or less
unconsciously sketched. The Message proved, or seemed to prove, that
Madison’s views and wishes lay in the direction of strong government.
He advised “liberal provision” for defence; more military academies;
an improved and enlarged navy; effectual protection to manufactures;
new national roads and canals; a national university; and such an
organization of the militia as would place it promptly and effectually
under control of the national government. Madison seemed to take his
stand, beyond further possibility of change, on the system of President
Washington.
Dallas’s report echoed the tone of Alexander Hamilton. Very long,
chiefly historical, and interesting beyond the common, this Treasury
Report of 1815 recommended a scale of annual expenditure exceeding
twenty-seven millions, in place of the old scale of ten millions. The
expenditure was to be but a part of the system. A protective tariff of
customs duties was assumed to be intended by Congress, and a national
bank was urged as the only efficient means by which the government
could recover control over the currency.
Although the President was less emphatic than the secretary in holding
a national bank to be the only cure for the disorders of the currency,
he was prepared to go a step further by issuing government paper as a
national currency, and suggested that alternative in his Message. A
national bank or a national currency was an equally energetic exercise
of supreme central powers not expressly granted by the Constitution and
much disputed by theorists. Dallas’s objection to the national currency
did not relate to its inefficiency, but to the practical difficulty of
issuing paper and keeping it in issue. Either course of action implied
a recurrence to the principles of President Washington. The Executive
proposed to start afresh in 1816 from its point of departure in 1790.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account