Memoir of John Howe Peyton: in sketches by his contemporaries, together with some of his public and private letters, etc., also a sketch of Ann M. Peyton
History
Memoir of John Howe Peyton: in sketches by his contemporaries, together with some of his public and private letters, etc., also a sketch of Ann M. Peyton
Peyton, Anne Montgomery, 1802-1850; Peyton, John Howe, 1778-1847
I came into public life about the period of the election of James
Madison as President of the United States.[4] I served as a member of
the House of Delegates of Virginia the two sessions of 1808-9, 1809-10.
I was a friend to the election of Mr. Madison and a warm and zealous
advocate of the measures of his administration.
[4] FOOT NOTE.--Mr. Madison was elected President in 1809 and re-elected
in 1813.
Among the measures to which I gave my hearty support was the
establishment of the late Bank of the United States. Since that period I
have not mingled in politics. As a citizen, however, I approved
generally of the administration of James Monroe, and was opposed to the
election of his successor, John Quincy Adams.
I advocated the election of Andrew Jackson, and supported most of the
measures of his administration during his first term. I also voted
reluctantly for his re-election, I disapproved of his veto to the bill
to recharter the Bank of the United States, and the _ad captandum_
arguments used by him to justify the measure. I attributed the act then,
however, more to the feelings created by the particular time when
Congress passed the bill--it being just previous to his second election,
than to any settled hostility on his part to a United States Bank.
Shortly after his re-election, he commenced a train of measures to which
I was utterly opposed; measures of a novel and alarming character, and
which in their origin and subsequent developments, brought distress and
embarrassment upon the banks, upon the country at large, and especially
upon all our great commercial interests. I allude to his wild, violent
and undigested schemes of finance--commencing with his pet Bank system
and ending with his order in council, the Specie circular.
This warfare upon the Bank of the United States, the currency and the
commerce of the nation, reduced us in 1837 to the degradation of
witnessing a general suspension of specie payments by the banks.
These acts connected with the corrupting system of party discipline
introduced by that administration with the view of compelling private
judgement to succumb to the behests of party, completely separated me
from the administration of Andrew Jackson.
His successor who pledged himself in advance "to follow in the footsteps
of his predecessor," and who has gone a bowshot beyond him in
obstinately pressing upon a free and intelligent people; his thrice
rejected scheme of a sub-treasury--to him and his measures I have always
been strenuously opposed.
Upon those subjects which fall more legitimately within the scope of the
duties of a Virginia State Senator--in advancing and promoting the great
cause of internal improvement, and in the diffusion of light and
knowledge among our people, and in the general objects of legislation,
my interest is identified with yours.
Public-domain text, read in full here on John Shaqi.
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