Benton, Thomas Hart, 1782-1858; Legislators -- United States -- Biography
The president vetoed it, but stated that he was ready to approve any
similar bill that should be free from the objections he named. Clay
could not resist reading Tyler a lecture on his misconduct, during the
course of a speech in the Senate; but the Whigs generally smothered
their resentment, and set about preparing something which the president
would sign, and this time concluded that they would humor him to the top
of his bent, even by choosing a title as ridiculous as he wished; so
they styled their bill one to establish a "Fiscal Corporation." Benton
held the title up to well-deserved derision, and showed that, though
there had been quite an elaborate effort to disguise the form of the
measure, and to make it purport to establish a bank that should have the
properties of a treasury, yet that in reality it was simply a revival of
the old scheme under another name. The Whigs swallowed the sneers of
their opponents as best they could, and passed their bill.
The president again interposed his veto. An intrigue was going on among
a few unimportant congressmen and obscure office-holders to form a new
party with Tyler at its head; and the latter willingly entered into the
plan, his mind, which was not robust at the best, being completely
dazzled by his sudden elevation and his wild hopes that he could
continue to keep the place which he had reached. He had given the Whigs
reason to expect that he would sign the bill, and had taken none of his
cabinet into his confidence. So, when his veto came in, it raised a
perfect whirlwind of wrath and bitter disappointment. His cabinet all
resigned, except Webster, who stayed to finish the treaty with Great
Britain; and the Whigs formally read him out of the party. The Democrats
looked on with huge enjoyment, and patted Tyler on the back, for they
could see that he was bringing their foes to ruin; but nevertheless they
despised him heartily, and abandoned him wholly when he had served their
turn. Left without any support among the regulars of either side, and
his own proposed third party turning out a still-born abortion, he
simply played out his puny part until his term ended, and then dropped
noiselessly out of sight. It is only the position he filled, and not in
the least his ability, for either good or bad, in filling it, that
prevents his name from sinking into merciful oblivion.
There was yet one more brief spasm over the bank, however; the president
sending in a plan for a "Fiscal Agent," to be called a Board of
Exchequer. Congress contemptuously refused to pay any attention to the
proposition, Benton showing its utter unworthiness in an excellent
speech, one of the best that he made on the whole financial question.
Public-domain text, read in full here on John Shaqi.
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