Select Speeches of Daniel Webster, 1817-1845Webster, Daniel
General
Select Speeches of Daniel Webster, 1817-1845
Webster, Daniel
Speeches, addresses, etc., American
Let us retrace briefly the history of the currency question in this
country, a most important branch of the commercial question. I appeal
to all who have studied the history of the times, and of the
Constitution, whether our fathers, in framing the Constitution which
should unite us in common rights and a common glory, had not also among
their chief objects to provide a uniform system of commerce, including
a uniform system of currency for the whole country. I especially invite
the ingenuous youth of the country to go back to the history of those
times, and particularly to the Virginia resolutions of 1786, and to the
proceedings of the convention at Annapolis, and they will there find
that the prevailing motive for forming a general government was, to
secure a uniform system of commerce, of customhouse duties, and a
general regulation of the trade, external and internal, of the whole
country. It was no longer to be the commerce of New York, or of
Massachusetts, but of the United States, to be carried on under that
star-spangled banner, which was to bear to every shore, and over every
sea, the glorious motto, _E Pluribus Unum_.
At the second session, of the first Congress, the United States Bank
was established. From the incorporation of the bank to the expiration
of its charter,[1] embracing a period of great commercial and political
vicissitudes, the currency furnished by that bank was never objected
to: it, indeed, surpassed the hopes and equalled the desires of
everybody.
Of the hundreds here, possibly, who supported General Jackson, not one
dreamed that he was elected to put down established institutions and
overthrow the currency of the country. Who, among all those that, in
the honest convictions of their hearts, cried, Hurrah for Jackson!
believed or expected or desired that he would interfere with the Bank
of the United States, or destroy the circulating medium of the country?
[Here there arose a cry from the crowd, "None! None!"] I stand here
upon the fact, and defy contradiction from any quarter, that there was
no complaint then, anywhere, of the bank. There never before was a
country, of equal extent, where exchanges and circulation were carried
on so cheaply, so conveniently, and so securely. General Jackson was
inaugurated in March, 1829, and pronounced an address upon that
occasion, which I heard, as I did the oath which he took to support the
Constitution. In that address were enumerated various objects,
requiring, as he said, reform; but among them was not the Bank of the
United States, nor the currency. This was in March, 1829. In December,
1829, General Jackson came out with the declaration (than which none I
have ever heard surprised me more), that "the constitutionality of the
Bank of the United States might be well questioned," and that it had
failed to furnish a sound and uniform currency to the country.
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.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account