He was quite right, but,
after the bank was well established, he supported it as Lord Thurlow
promised to do in regard to the dissenter's religion. Indeed, Mr. Webster
ultimately so far lost his original dislike to this bank that he became one
of its warmest adherents. The plan was defective, but the scheme, on the
whole, worked better than had been expected.
Immediately after the passage of the bank bill, Mr. Calhoun introduced a
bill requiring the revenue to be collected in lawful money of the United
States. A sharp debate ensued, and the bill was lost. Mr. Webster at once
offered resolutions requiring all government dues to be paid in coin, in
Treasury notes, or in notes of the Bank of the United States. He supported
these resolutions, thus daringly put forward just after the principle they
involved had been voted down, in a speech of singular power, clear,
convincing, and full of information and illustration. He elaborated the
ideas contained in his previous remarks on the currency, displaying with
great force the evils of irredeemable paper, and the absolute necessity of
a sound currency based on specie payments.
Pages:
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95