Meanwhile Mr. Lincoln
had attended one special session of the Legislature in July, 1837.
The session was called to take some action with regard to the financial condition of the State
The Bank of the United States
and the New York and Philadelphia Banks
had suspended specie payments.
This action had precipitated general ruin among business men and interests over the entire country.
The called session of the Legislature was intended to save the Illinois
banks from impending dissolution.
retained his position on the Committee
on Finance, and had lost none of his enthusiasm over the glorious prospects of internal improvements.
The Legislature, instead of abridging, only extended the already colossal proportions of the great system.
In this they paid no heed to the governor whose head seems to have been significantly clear on the folly of the enterprise.
In 1838 Mr. Lincoln
was again elected to the Legislature.
At this session, as the nominee of the Whig party, he received thirty-eight votes for Speaker.
Wm. L. D. Ewing
, his successful competitor, the Democratic
candidate, received forty-three votes, and was elected.
Besides retaining his place on the Finance Committee, Lincoln
was assigned to the Committee
The enthusiasm and zeal of the friends of internal improvements began to flag now in view of the fact that the bonds issued were beginning to find their true level in point of value.
, together with others of kindred views, tried to bolster the “system” up; but soon the discouraging fact became