Benton, Thomas Hart, 1782-1858; Legislators -- United States -- Biography
To such a community [the American body politic]--in an appeal on a
great question of constitutional law to the understandings of such a
people--declamation, passion, epithets, opprobrious language, will
stand for nothing. They will float harmless and unheeded through the
empty air, and strike in vain upon the ear of a sober and
dispassionate tribunal. Indignation, real or affected; wrath,
however hot; fury, however enraged; asseverations, however violent;
denunciation, however furious, will avail nothing. Facts, inexorable
facts, are all that will be attended to; reason, calm and
self-possessed, is all that will be listened to.
The description of the mass of Jacksonian voters as forming "a sober and
dispassionate tribunal" is an artistic touch of fancy quite unique, but
admirably characteristic of Benton, whose statements always rose
vigorously to the necessities of the occasion.
Webster, in an effort to make the best of untoward circumstances,
brought in a bill to re-charter the Bank for a short period, at the same
time doing away with some of the features that were objectionable in the
old charter. This bill might have passed, had it not been opposed by the
extreme Bank men, including Clay and Calhoun. In the course of the
debate over it Benton delivered a very elaborate and carefully studied
speech in favor of hard money and a currency of the precious metals; a
speech which is to this day well worth careful reading. Some of his
financial theories were crude and confused; but on the main question he
was perfectly sound. Both he and Jackson deserve great credit for having
done much to impress the popular mind with the benefit of hard, that is
to say honest, money. Benton was the strongest hard-money man then in
public life, being, indeed, popularly nicknamed "Old Bullion." He
thoroughly appreciated that a metallic currency was of more vital
importance to the laboring men and to men of small capital generally
than to any of the richer classes. A metallic currency is always surer
and safer than a paper currency; where it exists a laboring man
dependent on his wages need fear less than any other member of the
community the evils of bad banking. Benton's idea of the danger to the
masses from "the money power" was exaggerated; but in advocating a sound
gold currency he took the surest way to overcome any possible dangerous
tendency. A craze for "soft," or dishonest, money--a greenback movement,
or one for short weight silver dollars--works more to the disadvantage
of the whole mass of the people than even to that of the capitalists; it
is a move directly in the interests of "the money power," which its
loud-mouthed advocates are ostensibly opposing in the interests of
democracy.
Public-domain text, read in full here on John Shaqi.
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