as one of its leading supporters, and at times its
chief reliance. Early in 1833, as a member of the Ways and Means
Committee, he made a minority report unfavorable to the Bank of the
United States. During the entire contest between the bank and President
Jackson, caused by the removal of the deposits in October, 1833, Mr.
Polk, as chairman of the Ways and Means Committee, supported the
Executive. He was elected Speaker of the House of Representatives in
December, 1835, and held that office till 1839. It was his fortune to
preside over the House at a period when party feelings were excited to
an unusual degree, and notwithstanding the fact that during the first
session more appeals were taken from his decisions than were ever known
before, he was uniformly sustained by the House, and frequently by
leading members of the Whig party. He gave to the Administration of
Martin Van Buren the same unhesitating support he had accorded to that
of President Jackson. On leaving Congress he became the candidate of the
Democrats of Tennessee for governor, and was elected by over 2,500
majority. He was an unsuccessful candidate for governor again in 1841
and 1843. In 1839 he was nominated by the legislatures of Tennessee and
other States for Vice-President of the United States, but Richard M.
Johnson, of Kentucky, was the choice of the great body of the Democratic
party, and was accordingly nominated. On May 27, 1844, Mr. Polk was
nominated for President of the United States by the national Democratic
convention at Baltimore, and on November 12 was elected, receiving about
40,000 majority on the popular vote, and 170 electoral votes to 105 that
were cast for Henry Clay. He was inaugurated March 4, 1845. Among the
important events of his Administration were the establishment of the
United States Naval Academy; the consummation of the annexation of
Texas; the admission of Texas, Iowa, and Wisconsin as States; the war
with Mexico, resulting in a treaty of peace, by which the United States
acquired New Mexico and Upper California; the treaty with Great Britain
settling the Oregon boundary; the establishment of the "warehouse
system;" the reenactment of the independent-treasury system; the passage
of the act establishing the Smithsonian Institution; the treaty with New
Granada, the thirty-fifth article of which secured for citizens of the
United States the right of way across the Isthmus of Panama; and the
creation of the Department of the I