Benton, Thomas Hart, 1782-1858; Legislators -- United States -- Biography
The third bill to be taken up and passed was that providing for the
distribution of the public lands revenue, and thus indirectly for
assuming the debts of the states. Tyler, in his message, had
characteristically stated that, though it would be wholly
unconstitutional for the federal government to assume the debts of the
states, yet it would be highly proper for it to give the latter money
wherewith to pay them. Clay had always been an enthusiastic advocate of
a distribution bill; and accordingly one was now passed and signed with
the least possible delay. It was an absolutely indefensible measure. The
treasury was empty, and loan and tax bills were pending at the very
moment, in order to supply money for the actual running of the
government. As Benton pointed out, Congress had been called together (a
special session having been summoned by Harrison before his death) to
raise revenue, and the first thing done was to squander it. The
distribution took place when the treasury reports showed a deficit of
sixteen millions of dollars. The bill was pushed through mainly by the
states which had repudiated their debts in whole or in part; and as
these debts were largely owed abroad, many prominent foreign
banking-houses and individuals took an active part in lobbying for the
bill. Benton was emphatically right in his opposition to the measure,
but he was very wrong in some of the grounds he took. Thus he inveighed
vigorously against the foreign capitalists who had come to help push the
bill through Congress; but he did not have anything to say against the
scoundrelly dishonesty displayed by certain states towards their
creditors, which had forced these capitalists into the endeavor to
protect themselves. He also incidentally condemned the original
assumption by the national government of the debts of the states, at the
time of the formation of the Constitution, which was an absolute
necessity; and his constitutional views throughout seem rather strained.
But he was right beyond cavil on the main point. It was criminal folly
to give the states the impression that they would be allowed to create
debts over which Congress could have no control, yet which Congress in
the end would give them the money to pay. To reward a state for
repudiating a debt by giving her the wherewithal to pay it was a direct
and unequivocal encouragement of dishonesty. In every respect the bill
was wholly improper; and Benton's attitude towards it and towards
similar schemes was incomparably better than the position of Clay,
Webster, and the other Whigs.
Both the bankrupt bill and the distribution bill were repealed very
shortly; the latter before it had time to take effect. This was an
emphatic indorsement by the public of Benton's views, and a humiliating
rebuke to the Whig authors of the measures. Indeed, the whole
legislation of the session was almost absolutely fruitless in its
results.
Public-domain text, read in full here on John Shaqi.
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