Sources.

Historical

accounts.

General conditions.

Constitu

tional

questions.

many others of the greatest American writers and thinkers passed their boyhood, to attain man's estate and take up their life work during the thirties.

BIBLIOGRAPHICAL NOTES

For a general course the opinions of Judge Marshall afford satisfactory constitutional assignments, disregarding the opinions of other judges. See Constitutional Decisions (ed. by J. P. Cotton, Jr.) or the following references: Chisholm v. Georgia (1793): 2 Dallas, 419. Marbury v. Madison (1803): 1 Cranch, 137; Thayer, J. B., Cases, 107-114. United States v. Judge Peters (1809): 5 Cranch, 115; Marshall, Writings, 119–125. Fletcher v. Peck (1810): 6 Cranch, 87; Thayer, Cases, 114-123. Gibbons v. Ogden (1824): 9 Wheaton, 184. Martin v. Hunter's Lessee (1816): 1 Wheaton, 304; Marshall, Writings, 525-555Dartmouth College v. Woodward (1819): 4 Wheaton, 518; Marshall, Writings, 188-210. McCulloch v. Maryland (1819): 4 Wheaton, 316; Marshall, Writings, 160-187. Cohens v. Virginia (1821): 6 Wheaton, 264; Marshall, Writings, 221-261. Osborn et al. v. The Bank of the United States (1824): 9 Wheaton, 738; Marshall, Writings, 315-342. Travelers' impressions of the United States are perhaps more valuable for this period than any other. Early Western Travels, edited by R. G. Thwaites, contains a mine of supplementary reading. Paulding, J. K., Letters from the South, and Tudor, W., Letters from the Eastern States, are among the best on those sections. Callender, G. S., Economic History, 359-373 (Transportation), and 487-561 (Tariff), contains usable selections. The Works of H. Clay, V, 461-480, and D. Webster, III, 94-149, contain important speeches on the tariff. Where the Annals of Congress are available, the debates of the 14th Congress are suitable, especially 1 sess., 684-688 (Speech of John Randolph on the tariff). See also Taussig, F. W., State Papers and Speeches on the Tariff, 252-385.

Adams, H., Administrations of Jefferson and Madison, IX, 175-242. Schouler, J., United States, II, 505–516. Turner, F. J., Rise of the New West, 10-67.

Babcock, American Nationality, 290-309. Cooley, Judge T. M., and others, Constitutional History of the United States as seen

in the Development of American Law. Farrand, The First Hayburn Case (Am. Hist. Review, XIII, 281-285). Thayer, J. B., Marshall. Story, J., Commentaries, secs. 1033-1044; 1259-1281; 1374-1397; 1685-1688. Turner, F. J., New West, 299-306.

Bretz, J. P., Postal Extension into the West (Am. Hist. Assoc., TransportaReport, 1909, 143). Hulbert, A. B., Historic Highways of America tion. (especially, Cumberland Road, Great American Canals, Portage Paths, Waterways of Westward Expansion). McMaster, United States, IV, 381-429. Monette, J. W., Progress of Navigation (Miss. Hist. Soc., Publications, VII, 479). Richardson, Messages, II, 142–183 (veto message of Monroe). Turner, New West, 96-111.

Boggess, A. C., Settlement of Illinois. Brigham, A. P., Geographic Migration. Influences, ch. V. Callender, G. S., Economic History, 313-320, 597-610. Faust, A. B., German Element, I, chs. XIII, XIV. Hinsdale, B. A., Old Northwest, 295-328, 368-392. Matthews, L. H., Expansion of New England, 178-224.

Stanwood, E., American Tariff Controversies, I, III-157. The tariff. Stevens, W. P., Foreign Trade of the United States, 1820-1840 (Journal of Pol. Econ., VIII, 348-452). Turner, New West, 224

245.

Commons, J. C., Documentary History of American Industrial Cotton. Society, II (U. B. Phillips), 165-299. Hammond, M. B., The Cotton Industry (Am. Econ. Assoc., Publications, new series, no. 1).

Fish, C. R., Civil Service, 79-104. Murdock, J. S., First Na- Politics. tional Nominating Convention (Am. Hist. Review, II, 680-682). Walton, J. S., Nominating Conventions in Pennsylvania (Am. Hist. Review, II, 262-278).

The Fourteenth Congress.

The currency.

CHAPTER X

POLITICS DURING THE PERIOD OF TRANSITION, 1815 TO 1829

THE Fourteenth Congress, which met in December, 1815, was one of the most talented ever elected. Only about the year 1850, when as at this time the leaders of a passing generation served side by side with those rising into power, has there been another such aggregation of talent. As the elections in most states had been held in the dark days of the fall of 1814, a large number of Federalists had been chosen; they numbered 65 out of 182 in the House and 14 out of 36 in the Senate. With Jeremiah Mason, Rufus King, and Robert Goodloe Harper in the Senate, and Webster and Pickering in the House, they could match their representation in any Congress for ability. Among the Republicans were Macon, Randolph, and William Pinkney of the older generation; and, of the younger generation, Calhoun, Lowndes, R. M. Johnson, McLean of Ohio, and Henry Clay, the Speaker. The youthful element were in control, and they went blithely to work to heal the wounds of the war, and to solve the newly arísing problems.

The most pressing question was that of the currency. Specie was extremely rare; in Boston only New England bank notes were at par; those of New York were at fourteen per cent discount; those of Baltimore and Philadelphia, at sixteen per cent, and those of the western banks at a still lower rate. These rates varied from time to time and from place to place; notes valuable at home declined as they were taken away, for their value depended

on personal knowledge of the banks and their directors. The government found itself embarrassed even more seriously than were the private interests, for it collected money in one place that must be spent at another, and these inequalities caused it the utmost inconvenience. The Secretary of the Treasury, Dallas, had recommended in 1814 a new national bank, and it was even then evident that a majority could be secured in its favor, in spite of Republican repugnance to a measure so distinctly Hamiltonian.

Its establishment, however, was delayed by a difference of opinion as to its form. Calhoun wished a distinctly government bank, chartered in the District of Columbia, and so free from any question as to its constitutionality. Webster wished a bank entirely private in ownership and management. Dallas's plan, as he finally presented it, was for a bank modeled very closely on that of Hamilton. In such form it passed the Fourteenth Congress. The capital was to be $35,000,000, one fifth in cash, the remainder payable in United States securities. One fifth was to be subscribed by the United States, which was to have the appointment of five of the twenty-five directors. It was hoped to have the shares widely held, and therefore their par value was fixed at $100 instead of $400 as in the case of the first National Bank. The Bank was to establish branches in the several states under certain conditions, was to receive government deposits unless the Secretary of the Treasury could show Congress satisfactory reasons why this should not be done, and was to transfer government money from place to place without charge. It could issue notes, convertible into specie, to the full amount of its capital. The charter was to run until March 3, 1836, and the corporation was to pay a bonus of $1,500,000 to the government. Webster secured the passage of a joint resolution requiring that, after February 20, 1817, all government dues be collected in gold and silver, "the legal currency of the United States, or in treasury notes,

The second

Bank of the

United

States.

Opposition to Bank.

The tariff of 1816.

notes of the Bank of the United States," or "in notes of banks payable and paid on demand" in specie.

These measures and other favoring circumstances relieved the government, which on February 1, 1817, resumed the payment of its obligations in specie. Business, however, did not at once recover. The National Bank was at first badly managed, recklessly extending credit until, in 1819, it was on the verge of ruin. Langdon Cheves was then made president, and by dint of rigid economy and contraction of loans saved it, after a stormy period, during which the whole country was racked by a financial crisis. Its safety, however, was gained at the expense of unpopularity, due to the belief that Cheves sacrificed private interests to the Bank and so precipitated the crisis of 1819. Maryland, Ohio, and other states attempted to subject its branches to heavy taxes, and were prevented only by the decisions of the Supreme Court declaring such action unconstitutional. This exemption, giving the Bank's branches a decided advantage over the state banks, added to the local opposition to this great national financial institution.

In the meantime Congress was considering the question of the revenue. The doubled war duties would soon expire, and the manufacturers petitioned Congress to save them from the overwhelming competition of English goods that they expected when this took place. Madison recommended a limited and temporary protection, and Dallas proposed a definite scheme. In spite of opposition from the Federalists representing the commercial interests, and of numbers of the old-school Republicans headed by Randolph, the bill passed much as Dallas proposed it. Upon products of certain wellestablished industries, such as carriages, hats, firearms, shoes, and paper, the duty was made practically prohibitive, on the ground that domestic competition would keep prices down, and the market could thus be preserved for Americans with out distressing the consumer. On cottons, woolens, and iron