FREE BOOKS

Author's List




PREV.   NEXT  
|<   459   460   461   462   463   464   465   466   467   468   469   470   471   472   473   474   475   476   477   478   479   480   481   482   483  
484   485   486   487   488   489   490   491   492   493   494   495   496   497   498   499   500   501   502   503   504   505   506   507   508   >>   >|  
should change their votes. But it was observed that this pill would be peculiarly bitter to the Southern States, and that some concomitant measure should be adopted to sweeten it a little to them. There had before been propositions to fix the seat of government either at Philadelphia, or at Georgetown on the Potomac; and it was thought that by giving it to Philadelphia for ten years, and to Georgetown permanently afterwards, this might, as an anodyne, calm in some degree the ferment which might be excited by the other measure alone. So two of the Potomac members (White and Lee, but White with a revulsion of stomach almost convulsive,) agreed to change their votes, and Hamilton undertook to carry the other point. In doing this, the influence he had established over the eastern members, with the agency of Robert Morris with those of the middle States, effected his side of the engagement; and so the Assumption was passed, and twenty millions of stock divided among favored States, and thrown in as a pabulum to the stock-jobbing herd. This added to the number of votaries to the Treasury, and made its chief the master of every vote in the legislature, which might give to the government the direction suited to his political views. I know well, and so must be understood, that nothing like a majority in Congress had yielded to this corruption. Far from it. But a division, not very unequal, had already taken place in the honest part of that body, between the parties styled republican and federal. The latter being monarchists in principle, adhered to Hamilton of course, as their leader in that principle, and this mercenary phalanx added to them, insured him always a majority in both Houses: so that the whole action of the legislature was now under the direction of the Treasury. Still the machine was not complete. The effect of the funding system, and of the Assumption, would be temporary; it would be lost with the loss of the individual members whom it had enriched, and some engine of influence more permanent must be contrived, while these myrmidons were yet in place to carry it through all opposition. This engine was the Bank of the United States. All that history is known, so I shall say nothing about it. While the government remained at Philadelphia, a selection of members of both Houses were constantly kept as directors, who, on every question interesting to that institution, or to the views of the federal head, voted at the
PREV.   NEXT  
|<   459   460   461   462   463   464   465   466   467   468   469   470   471   472   473   474   475   476   477   478   479   480   481   482   483  
484   485   486   487   488   489   490   491   492   493   494   495   496   497   498   499   500   501   502   503   504   505   506   507   508   >>   >|  



Top keywords:

States

 

members

 

Philadelphia

 

government

 

Assumption

 

Houses

 
change
 
engine
 

influence

 

direction


majority

 
legislature
 

federal

 

Treasury

 
principle
 

Hamilton

 

measure

 
Georgetown
 

Potomac

 

remained


styled

 

republican

 

adhered

 
monarchists
 

unequal

 
directors
 

institution

 

division

 

interesting

 

leader


honest

 

constantly

 

selection

 

parties

 

insured

 

United

 

corruption

 

enriched

 

individual

 

history


permanent
 

contrived

 

myrmidons

 

opposition

 

action

 

phalanx

 

machine

 

system

 

question

 

temporary