judge of the election, qualifications and returns of its own members, the House disregarded the decision of the governor and council; and, deferring to the representative principle, made the decision turn, not upon the conduct of the officers holding the election, but upon the rights of the voters. the body of the party and elect him: and Mr. This strenuous contest was not terminated until the 10th of March-nearly one hundred days from the time of its commencement. The five democratic members were then admitted to their seats. In the mean time the election for speaker had been brought on by a vote of 118 to 110- the democracy having succeeded in bringing on the election after a total exhaustion of every parliamentary manoeuvre to keep it off. Mr. John W. Jones, of Virginia, was the democratic nominee: Mr. Jno. Bell, of Tennessee, was nominated on the part of the whigs. The whole vote given in was 235, making 118 necessary to a choice. Of these, Mr. Jones received 118: Mr. Bell, 102. Twenty votes were scattered, of which 11, on the whig side, went to Mr. Dawson of Georgia; and 9 on the democratic side were thrown upon three southern members. Had any five of these nine voted for Mr. Jones, it would have elected him: while the eleven given to Mr. Dawson would not have effected the election of Mr. Bell. It was clear the democracy had the majority, for the contested election from New Jersey having been sent to a committee, and neither set of the contestants allowed to vote, the question became purely and simply one of party: but there was a fraction in each party which did not go with the party to which it belonged: and hence, with a ma- It was the same with the whig party. A jority in the House to bring on the election, fraction of its members refused to support the and a majority voting in it, the democratic regular candidate of the party; and after many nominee lacked five of the number requisite to fruitless trials to elect him, he was abandoned elect him. The contest was continued through-Mr. Robert M. T. Hunter, of Virginia, taken five successive ballotings without any better re-up, and eventually elected. He had voted with sult for Mr. Jones, and worse for Mr. Bell; and the whig party in the New Jersey election case it became evident that there was a fraction of each party determined to control the election. It became a question with the democratic party what to do? The fraction which did not go with the party were the friends of Mr. Calhoun, and although always professing democratically had long acted with the whigs, and had just returned to the body of the party against which they had been acting. The election was in their hands, and they gave it to be known that if one of their number was taken, they would vote with among the scattering in the votes for speaker; and was finally elected by the full whig vote, and a few of the scattering from the democratic ranks. He was one of the small band of Mr. Calhoun's friends; so that that gentleman succeeded in governing the whig election of speaker, after failing to govern that of the democracy. In looking over the names of the candidates for speaker it will be seen that the whole were Southern men-no Northern man being at any time put in nomination, or voted for. And this circumstance illustrates a pervading system of action between the two sections from the foundation of the government-the southern going for the honors, the northern for the benefits of the government. And each has succeeded, but with the difference of a success in a solid and in an empty pursuit. The North has become rich upon the benefits of the government: the South has grown lean upon its honors. This arduous and protracted contest for speaker, and where the issue involved the vital party question of the organization of the House, and where every member classified himself by a deliberate and persevering series of votes, becomes important in a political classification point of view, and is here presented in detail as the political map of the House-taking the first vote as showing the character of the whole. 1. Members voting for Mr. Jones: 113. Judson Allen, Hugh J. Anderson, Charles G. Atherton. Linn Banks, William Beatty, Andrew Beirne, Julius W. Blackwell, Linn Boyd, David P. Brewster, Aaron V. Brown, Albert G. Brown, Edmund Burke, Sampson H. Butler, William 0. Butler, Jesse A. Bynum, John Carr, James Carroll, Zadok Casey, Reuben Chapman, Nathan Clifford, Walter Coles, Henry W. Connor, Robert Craig, Isaac E. Crary, Edward Cross, Amasa Dana, Thomas Davee, John Davis, John W. Davis, William Doan, Andrew W. Doig, George C. Dromgoole, Alexander Duncan, Nehemiah H. Earl, Ira A. Eastman, John Ely, John Fine, Isaac Fletcher, John G. Floyd, Joseph Fornance, John Galbraith, James Gerry, Robert H. Hammond, Augustus C. Hand, John Hastings, Micajah T. Hawkins, John Hill of North Carolina, Solomon Hillen jr., Joel Holleman. Enos Hook, Tilghman A. Howard, David Hubbard, Thomas B. Jackson, John Jameson, Joseph Johnson, Cave Johnson, Nathaniel Jones, George M. Keim, Gouverneur Kemble, Daniel P. Leadbetter, Isaac Leet, Stephen B. Leonard, Dixon H. Lewis, Joshua A. Lowell, William Lucas, Abraham McLellan, George McCulloch, James J. McKay, Meredith Mallory, Albert G. Marchand, William Medill, John Miller, James D. L. Montanya, William Montgomery, Samuel W. Morris, Peter Newhard, Isaac Parrish, William Parmenter, Virgil D. Parris, Lemuel Paynter, David Petríkin, Francis W. Pickens, John H. Prentiss, William S. Ramsey, John Reynolds, R. Barnwell Rhett, Francis E. Rives, Thomas Robinson jr., Edward Rodgers, Green B. Samuels, Tristram Shaw, Charles Shepard, Albert Smith, John Smith, Thomas Smith, David A. Starkweather, Lewis Steenrod, Theron R. Strong, Henry Swearingen, George Sweeny, Jonathan Taylor, Francis Thomas, Philip F. Thomas, Jacob Thompson, Hopkins VOL. II-11 L. Turney, Aaron Vanderpoel, David D. Wagner, 2. Members voting for Mr. Bell: 102. H. Anderson, Landaff W. Andrews, Daniel D. John Quincy Adams, John W. Allen, Simeon Barnard, Richard Biddle, William K. Bond, John M. Botts, George N. Briggs, John H. Brockway, Anson Brown, William B. Calhoun, William B. Campbell, William B. Carter, Thomas W. Chinn, Thomas C. Chittenden, John C. Clark, James Cooper, Thomas Corwin, George W. Crabb, Robt. B. Cranston, John W. Crockett, Edward Curtis, Caleb Cushing, Edward Davies, Garret Davis, William C. Dawson, Edmund Deberry, John Dennis, James Dellet, John Edwards, George Evans, Horace Everett, Millard Fillmore, Rice Garland, Seth M. Gates, Meredith P. Gentry, Joshua R. Giddings, William L. Goggin, Patrick G. Goode, James Graham, Francis Granger, Willis Green, William J. Graves, Moses H. Grinnell, Hiland Hall, William S. Hastings, Richard Hawes, Thomas HenHiram P. Hunt, Francis James, Daniel Jenifer, ry, John Hill of Virginia, Ogden Hoffman, Charles Johnston, William Cost Johnson, Abbott Lawrence, Levi Lincoln, Richard P. Marvin, Samson Mason, Charles F. Mercer, Charles F. Mitchell, James Monroe, Christopher Morgan, Calvary Morris, Charles Naylor, Charles Ogle, Thomas B. Osborne, Rufus Palen, Luther C. Peck, John Pope, George H. Proffit, Benjamin Randall, Joseph F. Randolph, James Rariden, Kenneth Rayner, John Reed, Joseph Ridgway, David Russell, Leverett Saltonstall, John Sergeant, William Simonton, William Slade, TruJohn T. Stuart, John Taliaferro, Joseph L. Tilman Smith, Edward Stanly, William L. Storrs, linghast, George W. Toland, Philip Triplett, Joseph Trumbull, Joseph R. Underwood, Peter Thomas W. Williams, Lewis Williams, Joseph J. Wagner, Edward D. White, John White, L. Williams, Christopher H. Williams, Sherrod Williams, Henry A. Wise. 3. Scattering: 20. The following named members voted for William C. Dawson, of Georgia. Julius C. Alford, John Bell, Edward J. Black, Richard W. Habersham, George W. Hopkins, Hiram P. Hunt, William Cost Johnson, Thomas B. King, Eugenius A. Nisbet, Waddy Thomp son jr., Lott Warren. The following named members voted for Dixon H. Lewis, of Alabama: John Campbell, Mark A. Cooper, John K. Griffin, John W. Jones, Walter T. Colquitt. The following named members voted for Francis W. Pickens, of South Carolina : Charles Fisher, Isaac E. Holmes, Robert M. T. Hunter, James Rogers, Thomas B. Sumter. James Garland voted for George W. Hopkins, of Virginia. Charles Ogle voted for Robert M. T. Hunter, ly an injury to individual creditors, but it is a of Virginia. CHAPTER XL. FIRST SESSION OF THE TWENTY-SIXTH CONGRESS: PRESIDENT'S MESSAGE. THE President met with firmness the new suspension of the banks of the southern and western half of the Union, headed by the Bank of the United States. Far from yielding to it he persevered in the recommendation of his great measures, found in their conduct new reasons for the divorce of Bank and State, and plainly reminded the delinquent institutions with a total want of the reasons for stopping payment which they had alleged two years before. He said: "It now appears that there are other motives than a want of public confidence under which the banks seek to justify themselves in a refusal to meet their obligations. Scarcely were the country and government relieved, in a degree, from the difficulties occasioned by the general suspension of 1837, when a partial one, occurring within thirty months of the former, produced new and serious embarrassments, though it had no palliation in such circumstances as were alleged in justification of that which had previously taken place. There was nothing in the condition of the country to endanger a wellmanaged banking institution; commerce was deranged by no foreign war; every branch of manufacturing industry was crowned with rich rewards; and the more than usual abundance of our harvests, after supplying our domestic wants, had left our granaries and storehouses filled with a surplus for exportation. It is in the midst of this, that an irredeemable and depreciated paper currency is entailed upon the people by a large portion of the banks. They are not driven to it by the exhibition of a loss of public confidence; or of a sudden pressure from their depositors or note-holders, but they excuse themselves by alleging that the current of business, and exchange with foreign countries, which draws the precious metals from their vaults, would require, in order to meet it, a larger curtailment of their loans to a comparatively small portion of the community, than it will be convenient for them to bear, or perhaps safe for the banks to exact. The plea has ceased to be one of necessity. Convenience and policy are now deemed sufficient to warrant these institutions in disregarding their solemn obligations. Such conduct is not mere wrong to the whole community, from whose liberality they hold most valuable privilegeswhose rights they violate, whose business they derange, and the value of whose property they render unstable and insecure. It must be evident that this new ground for bank suspensions, in reference to which their action is not only disconnected with, but wholly independent of, that of the public, gives a character to their suspensions more alarming than any which they exhibited before, and greatly increases the impropriety of relying on the banks in the transactions of the government." The President also exposed the dangerous nature of the whole banking system from its chain of connection and mutual dependence of one upon another, so as to make the misfortune or criminality of one the misfortune of all. Our country banks were connected with those of New York and Philadelphia: they again with the Bank of England. So that a financial crisis commencing in London extends immediately to our great Atlantic cities; and thence throughout the States to the most petty institutions of the most remote villages and counties: so that the lever which raised or sunk our country banks was in New York and Philadelphia, while they themselves were worked by a lever in London; thereby subjecting our system to the vicissitudes of English banking, and especially while we had a national bank, which, by a law of its nature, would connect itself with the Bank of England. All this was well shown by the President, and improved into a reason for disconnecting ourselves from a moneyed system, which, in addition to its own inherent vices and fallibilities, was also subject to the vices, fallibilities, and even inimical designs of another, and a foreign system-belonging to a power, always our competitor in trade and manufactures-sometimes our enemy in open war. "Distant banks may fail, without seriously affecting those in our principal commercial cities; but the failure of the latter is felt at the extremities of the Union. The suspension at New York, in 1837, was every where, with very few exceptions, followed, as soon as it was known; that recently at Philadelphia immediately affected the banks of the South and West in a similar manner. This dependence of our whole banking system on the institutions in a few large cities, is not found in the laws of their organization, but in those of trade and exchange. The banks at that centre to which currency flows, and where it is required in payments for merchandise, hold the power of controlling those in regions whence it comes, while the latter possess no means of restraining them; so that the value of individual property, and the prosperity of trade, through the whole interior of the country, are made to depend on the good or bad management of the banking institutions in the great seats of trade on the seaboard. But this chain of dependence does not stop here. It does not terminate at Philadelphia or New York. It reaches across the ocean, and ends in London, the centre of the credit system. The same laws of trade, which give to the banks in our principal cities power over the whole banking system of the United States, subject the former, in their turn, to the money power in Great Britain. It is not denied that the sus pension of the New York banks in 1837, which was followed in quick succession throughout the Union, was partly produced by an application of that power; and it is now alleged, in extenuation of the present condition of so large a por tion of our banks, that their embarrassments have arisen from the same cause. From this influence they cannot now entirely escape, for it has its origin in the credit currencies of the two countries; it is strengthened by the current of trade and exchange, which centres in London, and is rendered almost irresistible by the large debts contracted there by our merchants, our banks, and our States. It is thus that an introduction of a new bank into the most distant of our villages, places the business of that village within the influence of the money power in England. It is thus that every new debt which we contract in that country, seriously affects our own currency, and extends over the pursuits of our citizens its powerful influence. We cannot escape from this by making new banks, great or small, State or National. The same chains which bind those now existing to the centre of this system of paper credit, must equally fetter every similar institution we create. It is only by the extent to which this system has been pushed of late, that we have been made fully aware of its irresistible tendency to subject our own banks and currency to a vast controlling power in a foreign land; and it adds a new argument to those which illustrate their precarious situation. Endangered in the first place by their own mismanagement, and again by the conduct of every institution which connects them with the centre of trade in our own country, they are yet subjected, beyond all this, to the effect of whatever measures, policy, necessity, or caprice, may induce those who control the credits of England to resort to. Is an argument required beyond the exposition of these facts, to show the impropriety of using our banking institutions as depositories of the public money? Can we venture not only to encounter the risk of their individual and mutual mismanagement, but, at the same time, to place our foreign and domestic policy entirely under the control of a foreign moneyed interest? To do so is to impair the independence of our government, as the present credit system has already impaired the independence of our banks. It is to submit all its important operations, whether of peace or war, to be controlled or thwarted at first by our own banks, and then by a power abroad greater than themselves. I cannot bring myself to depict the humiliation to which this government and people might be sooner or later reduced, if the means for defending their rights are to be made dependent upon those who may have the most powerful of motives to impair them." These were sagacious views, clearly and strongly presented, and new to the public. Few had contemplated the evils of our paper system, and the folly and danger of depending upon it for currency, under this extended and comprehensive aspect; but all saw it as soon as it was presented; and this actual dependence of our banks upon that of England became a new reason for the governmental dissolution of all connection with them. Happily they were working that dissolution themselves, and producing that disconnection by their delinquencies which they were able to prevent Congress from decreeing. An existing act of Congress forbid the employment of any non-specie paying bank as a government depository, and equally forbid the use of its paper. They expected to coerce the government to do both: it did neither: and the disconnection became complete, even before Congress enacted it. The President had recommended, in his first annual message, the passage of a pre-emption act in the settlement of the public lands, and of a graduation act to reduce the price of the lands according to their qualities, governed by the length of time they had been in market. The former of these recommendations had been acted upon, and became law; and the President had now the satisfaction to communicate its beneficial operation. "On a former occasion your attention was invited to various considerations in support of a pre-emption law in behalf of the settlers on the public lands; and also of a law graduating the prices for such lands as had long been in the market unsold, in consequence of their inferior quality. The execution of the act which was passed on the first subject has been attended with the happiest consequences, in quieting titles, and securing improvements to the industrious; and it has also, to a very gratifying extent, been exempt from the frauds which were practised under previous pre-emption laws. It has, at the same time, as was anticipated, contributed liberally during the present year to the receipts of the Treasury. The passage of a graduation law, with the guards before recommended, would also, I am persuaded, add considerably to the revenue for several years, and prove in other respects just and beneficial. Your early consideration of the subject is, therefore, once more earnestly requested." The opposition in Congress, who blamed the administration for the origin and conduct of the war with the Florida Indians, had succeeded in getting through Congress an appropriation for a negotiation with this tribe, and a resolve requesting the President to negotiate. He did so—with no other effect than to give an opportunity for renewed treachery and massacre. The message said: part of the whig members in each House, which exhausted both the powers of debate, and the rules and acts of parliamentary warfare. Even after the bill had passed through all its forms-had been engrossed for the third reading, and actually been read a third time and was waiting for the call of the vote, with a fixed majority shown to be in its favor-the warfare continued upon it, with no other view than to excite the people against it: for its passage in the Senate was certain. It was at this last moment that Mr. Clay delivered one of his impassioned and glowing speeches against it. "Mr. President, it is no less the duty of the exact state of the body to which he is to minisstatesman than the physician, to ascertain the ter before he ventures to prescribe any healing remedy. It is with no pleasure, but with pro“In conformity with the expressed wishes of found regret, that I survey the present condition Congress, an attempt was made in the spring to known a period of such universal and intense disof our country. I have rarely, I think never, terminate the Florida war by negotiation. It is to be regretted that these humane intentions tress. The general government is in debt, and its should have been frustrated, and that the efforts existing revenue is inadequate to meet its ordito bring these unhappy difficulties to a satis-nary expenditure. The States are in debt, some factory conclusion should have failed. But, after of them largely in debt, insomuch that they entering into solemn engagements with the Com- have been compelled to resort to the ruinous manding General, the Indians, without any pro-interest upon prior loans; and the people are expedient of contracting new loans to meet the vocation, recommenced their acts of treachery and murder. The renewal of hostilities in that Territory renders it necessary that I should recommend to your favorable consideration the measure proposed by the Secretary at War (the armed occupation of the Territory)." With all foreign powers the message had nothing but what was friendly and desirable to communicate. Nearly every question of dissension and dispute had been settled under the administration of his predecessor. The accumulated wrongs of thirty years to the property and persons of our citizens, had been redressed under President Jackson. He left the foreign world in peace and friendship with his country; and his successor maintained the amicable relations so happily established. CHAPTER XLI. DIVORCE OF BANK AND STATE; DIVORCE DE- THIS measure, so long and earnestly contested, surrounded with difficulties; greatly embar- |