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Harper's Encyclopedia of United States History (ed. Benson Lossing) 2 2 Browse Search
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Harper's Encyclopedia of United States History (ed. Benson Lossing), Bank of the United States. (search)
were that it had failed in the fulfilment of the promises of its creation — namely, to establish a uniform and sound currency for the whole nation; and, also, that such an institution was not authorized by the national Constitution. Again, in his annual messages in 1830 and 1831, he attacked the bank, and renewed his objections. At the close of 1831 the proper officers of the bank petitioned, for the first time, for the renewal of its charter. The petition was presented in the Senate Jan. 9, 1832, and on March 13 a select committee, to whom it was referred, reported in favor of renewing the charter for fifteen years. Long debates ensued, and finally a bill for rechartering the bank passed both Houses of Congress — the Senate on June 11, by 28 against 20, and the House of Representatives. July 3, by a vote of 107 against 85. The President vetoed it, and as it failed to receive the constitutional vote of two-thirds of both Houses, the bank charter expired by limitation in 1836.
Harper's Encyclopedia of United States History (ed. Benson Lossing), United States of America. (search)
n of the Liberator at Boston......1831 Twenty-second Congress, first session, convenes......Dec. 5, 1831 National Republican party hold a national convention at Baltimore, Md., and nominate Henry Clay, of Kentucky, for President, and John Sergeant, of Pennsylvania, for Vice-President; number of delegates, 155......Dec. 12, 1831 [This party advocated higher tariff and internal improvements.] Memorial for the renewal of the charter of the National Bank presented to Congress......Jan. 9, 1832 William L. Marcy, of New York, while urging the Senate to confirm Martin Van Buren as minister to England, says, They see nothing wrong in the rule that to the victors belong the spoils of the enemy ......Jan. 25, 1832 Henry Clay advocates the American system of protection in the Senate, supported by the Senators from Delaware, Maine, Massachusetts, New Jersey, Ohio, Pennsylvania, and Rhode Island......January–February, 1832 Democratic (first so-called) National Convention meets