Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850Benton, Thomas Hart
History
Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850
Benton, Thomas Hart
United States -- Politics and government -- 1815-1861
In the month of April preceding, when leaving Washington to return
to Missouri, I told the President there would be another suspension,
headed by the Bank of the United States, before we met again: at my
return in November it was his first expression to remind me of that
conversation; and to say it was the second time I had foreseen these
suspensions, and warned him of them. He then jocularly said, don't
predict so any more. I answered I should not; for it was the last
time this Bank would suspend.
Still dominating over the moneyed systems of the South and West,
this former colossal institution was yet able to carry along with
her nearly all the banks of one-half of the Union: and using her
irredeemable paper against the solid currency of the New York and
other Northern banks, and selling fictitious bills on Europe, she
was able to run them hard for specie--curtail their operations--and
make panic and distress in the money market. At the same time
by making an imposing exhibition of her assets, arranging a
reciprocal use of their notes with other suspended banks, keeping
up an apparent par value for her notes and stocks by fictitious
and collusive sales and purchases, and above all, by her political
connection with the powerful opposition--she was enabled to keep
the field as a bank, and as a political power: and as such to act
an effective part in the ensuing presidential election. She even
pretended to have become stronger since the time when Mr. Biddle
left her so prosperous; and at the next exposition of her affairs
to the Pennsylvania legislature (Jan. 1, 1840), returned her assets
at $74,603,142; her liabilities at $36,959,539, and her surplus at
$37,643,603. This surplus, after paying all liabilities, showed the
stock to be worth a premium of $2,643,603. And all this duly sworn
to.
CHAPTER XXXIX.
FIRST SESSION TWENTY-SIXTH CONGRESS: MEMBERS: ORGANIZATION:
POLITICAL MAP OF THE HOUSE.
_Members of the Senate_.
NEW HAMPSHIRE.--Henry Hubbard, Franklin Pierce.
MAINE.--John Ruggles, Reuel Williams.
MASSACHUSETTS.--John Davis. Daniel Webster.
VERMONT.--Sam'l Prentiss, Sam'l S. Phelps.
RHODE ISLAND.--Nehemiah R. Knight, N. F. Dixon.
CONNECTICUT.--Thaddeus Betts, Perry Smith.
NEW YORK.--Silas Wright, N. P. Tallmadge.
NEW JERSEY.--Sam'l L. Southard, Garret D. Wall.
PENNSYLVANIA.--James Buchanan, Daniel Sturgeon.
DELAWARE.--Thomas Clayton.
MARYLAND.--John S. Spence, Wm. D. Merrick.
VIRGINIA.--William H. Roane.
NORTH CAROLINA.--Bedford Brown, R. Strange.
SOUTH CAROLINA.--John C. Calhoun, Wm. Campbell Preston.
GEORGIA.--Wilson Lumpkin, Alfred Cuthbert.
KENTUCKY.--Henry Clay, John J. Crittenden.
TENNESSEE.--Hugh L. White, Alex. Anderson.
OHIO.--William Allen, Benjamin Tappan.
INDIANA.--Oliver H. Smith, Albert S. White.
MISSISSIPPI.--Robert J. Walker, John Henderson.
LOUISIANA.--Robert C. Nicholas, Alexander
Mouton.
ILLINOIS.--John M. Robinson, Richard M.
Young.
Public-domain text, read in full here on John Shaqi.
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