FREE BOOKS

Author's List




PREV.   NEXT  
|<   96   97   98   99   100   101   102   103   104   105   106   107   108   109   110   111   112   113   114   115   116   117   118   119   120  
121   122   123   124   125   126   127   128   129   130   131   132   133   134   135   136   137   138   139   140   141   142   143   144   145   >>   >|  
stility. Benton, the foremost of expansionists before Tyler became President, was also ready to compromise the dispute. This meant that Calhoun, Webster, and Benton would unite their influence to defeat the foreign policy of the President if it were not modified to suit their views. But the new leadership embraced a group of able and bold men: John A. Dix, of New York; Caleb Cushing, a Whig recruit from Massachusetts; James M. Mason, of Virginia; Robert Barnwell Rhett, William L. Yancey, and Jefferson Davis, of the lower South; and David Atchison, Stephen A. Douglas, Lewis Cass, and William Allen, of the Northwest,--all ardent expansionists and "big Americans" who would not readily suffer the defeat of the party program. During the summer and autumn of 1845 their policy had been worked out in detail and discussed among the men who were to be responsible for its execution. In domestic affairs their scheme embraced the settlement of the long-disputed financial policy in a new Independent or Sub-Treasury Bill which Secretary Walker was preparing. The Tariff of 1842, which had offended the Democratic South, was also to be reformed, and Walker had written the new schedules which Congress was to enact in due time. In order to secure the necessary Western support for these Southern purposes, the old internal improvements program was revived in an enlarged rivers and harbors bill. This was a big plan and the Democratic majorities in House and Senate were very narrow. The outlook was anything but encouraging, with Webster, Calhoun, and Benton likely to be in opposition on every point. But Congress passed the Sub-Treasury Bill, by which most of the financial measures of the preceding administrations since 1833, resting on the mere orders of President or Secretary of the Treasury, were legalized. It was in the main the same law which Van Buren had labored so long to secure, but which the Whigs had repealed in 1841. The money of the Government was henceforth to be kept in certain designated sub-treasuries in leading cities like New York, Baltimore, and New Orleans, and drawn upon by the Secretaries of the Treasury when needed. There was thus to be no national bank; and the state banks were to continue issuing their paper, which was to be the money of the people. Gold and silver, coined by the government mint at Philadelphia, were seldom demanded in ordinary business transactions, though coin or bullion still remained the redempt
PREV.   NEXT  
|<   96   97   98   99   100   101   102   103   104   105   106   107   108   109   110   111   112   113   114   115   116   117   118   119   120  
121   122   123   124   125   126   127   128   129   130   131   132   133   134   135   136   137   138   139   140   141   142   143   144   145   >>   >|  



Top keywords:

Treasury

 

policy

 
President
 
Benton
 
program
 

William

 

secure

 

financial

 

Walker

 

Secretary


Congress
 

Democratic

 

Webster

 
expansionists
 

Calhoun

 

defeat

 
embraced
 

preceding

 

measures

 

administrations


resting

 

legalized

 

labored

 

orders

 

passed

 

majorities

 

Senate

 

enlarged

 

rivers

 

harbors


narrow

 

outlook

 

repealed

 

foremost

 

opposition

 

encouraging

 
stility
 

coined

 
silver
 

government


people

 

continue

 

issuing

 

Philadelphia

 

seldom

 

bullion

 

remained

 

redempt

 

demanded

 

ordinary