The party battles of the Jackson periodBowers, Claude G. (Claude Gernade)
History
The party battles of the Jackson period
Bowers, Claude G. (Claude Gernade)
Jackson, Andrew, 1767-1845; United States -- Politics and government -- 1829-1837
The debate on the Clay resolutions had scarcely begun when the daily
arrival of distress petitions furnished a diversion in the Senate. The
memorials were lugubrious recitals of wreck and ruin, and pathetic
appeals for the restoration of the deposits. Frequently presented by
committees, the bearers repaired to the gallery to give sympathetic ear
to the mournful speeches of the Senators to whom their petitions had
been entrusted. There was a marked similarity in the petitions, and an
even more striking resemblance in the speeches. The burden of both was
that the happiness of a prosperous community had been struck down by a
tyrant, and that nothing but the restoration of the deposits could end
the agony. That the action of such men as Clay, Webster, and Calhoun, in
picturing in lurid and exaggerated colors the distress of the moment,
and predicting even greater calamities, was calculated to frighten the
timid and create panic must have been understood by them. At any rate,
these petitions were part of the leaders’ plan.[702] This phase of the
fight developed with the presentation of Clay’s resolution to “inquire
into the expediency of affording temporary relief to the community from
the present pecuniary embarrassments by prolonging the payment of
revenue bonds as they fall due.” This resolution opened the way for
Clay’s first “distress speech.” And Forsyth, who was something of a
cynic in his way, saw no objection to the resolution, provided it were
amended by instructing the committee “to inquire into the extent and
causes of the alleged distress of the community, and into the propriety
of legislative interference to relieve them.” The proposal of the
amendment gave Forsyth the opportunity to present the Administration’s
opinion of the panic. He had no doubt that there was distress, but it
had been greatly exaggerated. “Whence does it arise?” he asked. “From
the conflict--the war that the Bank is waging to get the deposits back.
The deposits have been removed. The Bank stands still to see what will
follow, and it stands still, too, that its power may be felt in every
nerve and fiber of the community--and every man shall feel the necessity
of the institution.”[703]
Thus the panic speeches began. “There sits Mr. Biddle,” rather stupidly
exclaimed one Senator, presenting a petition, “in the presidency of the
Bank, as calm as a summer’s morning, with his directors around him,
receiving his salary, with everything moving on harmoniously; and has
this strike reached him? No, sir. The blow has fallen on the friends of
the President and the country.”[704] Thus did one Opposition leader
rejoice in the serenity of the Bank and its president in the midst of
the distress of his country.
Public-domain text, read in full here on John Shaqi.
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