all men.

The next important movement in Congress was in reference to the charter
of the newly proposed second United States Bank, and in this the great
influence of Clay was felt. He was in favor of it, as a necessity, in
view of the miserable state of the finances, the suspension of specie
payments, and the multiplication of State banks. In the earlier part of
his career, in 1811, he had opposed a recharter of Hamilton's National
Bank as a dangerous money-corporation, and withal unconstitutional on
the ground that the general government had no power to charter
companies. All this was in accordance with Western democracy, ever
jealous of the money-power, and the theorizing proclivities of
Jefferson, who pretended to hate everything which was supported in the
old country. But with advancing light and the experience of depreciated
currency from the multiplication of State banks, Clay had changed his
views, exposing himself to the charge of inconsistency; which, however,
he met with engaging candor, claiming rather credit for his ability and
willingness to see the change of public needs. He now therefore
supported the bill of Calhoun, which created a national bank with a
capital of thirty-five million dollars, substantially such as was
proposed by Hamilton. The charter was finally given in April, 1816, to
run for twenty years.

Doubtless such a great money-corporation--great for those times--did
wield a political influence, and it might have been better if the Bank
had been chartered with a smaller capital. It would have created fewer
enemies, and might have escaped the future wrath of General Jackson.
Webster at first opposed the bill of Calhoun; but when it was afterwards
seen that the Bank as created as an advantage to the country, he became
one of its strongest supporters. Webster was strongly conservative by
nature; but when anything was established, like Lord Thurlow he ceased
all opposition, especially if it worked well.

In 1816 James Monroe was elected President, and Clay expected to be made
Secretary of State, as a step to the presidency, which he now ardently
desired. But he was disappointed, John Quincy Adams being chosen by
Monroe as Secretary of State. Monroe offered to Clay the mission to
England and the Department of War, both of which he declined, preferring
the speakership, to which he was almost unanimously re-elected. Here
Clay brought his influence to bear, in opposition to the views of the
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