This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 Excerpt: ...consisted of National Republicans and that part of the Democratic party who believed that Presidents Jackson and Van Buren had departed from the Jeffersonian faith of the sovereignty of the states as embodied in the Virginia-Kentucky Resolutions. The Whig party had taken no position as a party on the subjects of bank, ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 Excerpt: ...consisted of National Republicans and that part of the Democratic party who believed that Presidents Jackson and Van Buren had departed from the Jeffersonian faith of the sovereignty of the states as embodied in the Virginia-Kentucky Resolutions. The Whig party had taken no position as a party on the subjects of bank, tariff, and internal improvements. In the canvass of 1840 the leaders of the Whigs, however, including Clay and Webster, either opposed these measures or refrained from advocating them. The States'-rights Whigs, with Tyler at their head, nevertheless held to their old faith, and when Clay, as the Whig leader in Congress, revived the old issues, the new president refused to follow him, and thus lost the support of his party. the last administration. This left the government without any system of protecting and managing its funds; but it was the purpose of Congress to provide some plan at once. Trouble arose over the selection of a system. Henry Clay, who was by common consent the leader of the party, fell back on the national bank plan and proposed to create a new bank patterned after the old United States Bank of Philadelphia. His bill, creating this bank, passed both houses; but the president sent it back with his veto. A second bill, changed to meet the president's wishes or to force his approval, favored by Clay and the Whig following, was passed. This bill was also vetoed. The party, with Clay at its head, had made the creation of a new bank part of its policy, and there was so much indignation felt at the president's course that all of his cabinet, except Daniel Webster, secretary of state, resigned their places. A plan proposed by the president did not get the support of Congress, and throughout his administration the control and preserv...
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