The Middle Period, 1817-1858. John William Burgess
Objections to the Bank Bill—Mr. Clay's Support of the Bank Bill—Passage of the Bank Bill by the House of Representatives—The Passage of the Bank Bill by the Senate—The United States Bank of 1816 a Southern Measure—The Tariff Bill Framed by the Committee on Ways and Means—The Tariff Bill Reported—The Character of the Tariff Bill—Mr. Calhoun's Speech upon the Tariff Bill—The Passage of the Tariff Bill—The Army and Navy Bills—The Bill for National Improvements—Mr. Calhoun's Advocacy of this Bill—The Opposition to the Internal Improvements Bill—Passage of the Bill by Congress—Veto of the Bill by the President—The Failure of Congress to Override the Veto.
It is no part of my task to relate the events of the War of 1812–15. That has already been sufficiently done in the preceding volume of this series. I take up the threads of the narrative at the beginning of the year 1816, and my problem in this chapter will be to expound the acts and policies of the Fourteenth Congress in the light of the experiences of that War.
| General character of the acts of the Fourteenth Congress. |
Those acts and policies were shaped and adopted under the influence of those experiences, and this influence was so predominant, at the moment, in the minds of the leading men in the Government and throughout the country as to exclude, or at least to overbalance, all other influences. This is especially manifest in the attitude of the statesmen of the slave-holding Commonwealths, and most especially in the attitude of their great leader, Mr. Calhoun, who was the chief champion of some of the most national measures voted by that Congress. A clear appreciation of his views and his acts at that period of his career will enable us far better than anything else to understand the terrible seriousness of the slavery question, which subsequently drove him into lines of thought and action so widely divergent from those upon which he set out in early life.
| Madison's message of December 5th, 1815. |
It was the President himself, however, one of the chief founders of the "States' rights" party, Mr. Madison, who set the direction toward centralization in the Congressional legislation of 1815–17. In his annual message of December 5th, 1815, he recommended the increase and better organization of the army and the navy, the enlargement of the existing Military Academy and the founding of such academies in the different sections of the country, the creation of a national currency, the protection of manufactures, the construction of roads and canals, and the establishment of a national university.
This is a very different political creed from that promulgated by President Jefferson when the Republican party first gained possession of the Government at Washington. Then, decrease in all the elements of power in the hands of the central Government, and careful maintenance of all the rights and powers of the "States," were recommended and urged upon the attention of the national lawgivers.
| Change in the principles of the Republican party. |
From a "States'-sovereignty" party in 1801, the Republican party had manifestly become a strong national party in 1816; that is, if we are to take the two Presidential messages, to which we have referred, as containing the political principles of that party at these two periods of its existence.
As the Congress of 1801 showed itself, in its legislation, to be in substantial accord with President Jefferson's views and sentiments, so did the Congress of 1815 manifest, in its legislation, the same general harmony with the views and sentiments of President Madison. In order that the latter part of this statement may be set down as an established fact of history, we will review with some particularity the two cardinal acts of this Congress—the United States Bank Act and the Tariff Act.
| The United States Bank Act of 1816. |
So soon as the reading of President Madison's message before the House of Representatives was completed, that body resolved to refer that part of the message which related to the establishment of an uniform national currency to a select committee. The committee chosen was composed of Mr. Calhoun, Mr. Macon, Mr. Pleasants, Mr. Tucker, Mr. Robertson, Mr. Hopkinson, and Mr. Pickering. The first five of these gentlemen were from Commonwealths south of the Pennsylvania line, and only two, therefore, from what began now to be called the "non-slave-holding States." In other words, it was a Southern committee, and the great South Carolinian was its chairman. It is, therefore, just to regard the bill which this committee brought in, and the arguments with which they supported it, as containing the views and the sentiments of the leading Southern Republicans in the House.
| Report of the Bank Bill by Mr. Calhoun. |
This committee came speedily to the conclusion that the nationalization of the monetary system was the most pressing need of the country, and within a month from the date of the appointment of its members the chairman of the committee reported a bill for the creation of an United States Bank, a mammoth national banking corporation, which should have a capital of thirty-five millions of dollars; in which the central Government should own one-fifth of the stock and be represented by one-fifth of the directors; the president of which should always be selected from among the Government's directors; the demand notes and bills of which should be received in all payments to the United States; and the chartered privileges of which should be made a monopoly for twenty years.
| Mr. Calhoun's argument in favor of the Bill. |
In his great argument in support of the bill, delivered on February 26th, Mr. Calhoun dismissed at the outset any consideration of the constitutionality of the bill. That is, he simply assumed that Congress had the power to pass the bill, and declared that the public mind was entirely made up and settled upon that point.
Only five years before this, even the national-minded Clay had pronounced the dictum that Congress had no power to grant a national bank charter, and the fact that Congress then declined to grant such a charter is good evidence that the majority of the people of the country held the same view. There can be little question that the Republican party, down to 1812, regarded the establishment of an United States bank by Congress as an usurpation of power not granted by the Constitution.
Five years constitute a short period of time for the accomplishment of so important a change in the public opinion. Five years of ordinary experience would not have produced it. It was, without doubt, the strain brought upon the finances of the country by the necessities of the War that had developed a powerful national opinion upon the subject