[10] A month or two after his arrival Van Buren wrote Hamilton that his place was decidedly the most agreeable he had ever held, but added: "Money—money is the thing." His house was splendid and in a delightful situation; but it cost him £500. His carriage cost him £310, and his servants with their board $2,600.
[11] In estimating the popular vote in 1828, Delaware and South Carolina are excluded, their electors having been chosen by the legislature. In Georgia in that year there was no opposition to Jackson. In 1832 no popular vote is included for South Carolina or for Alabama. In Mississippi and Missouri there was no opposition to Jackson. In 1829, upon Van Buren's recommendation when governor, the system in New York of choosing electors by districts, which had been in force in the election of 1838, was abolished; and there was adopted the present system of choosing all the electors by the popular vote of the whole State.
[12] The Treasurer's statement for August, 1837, gave eighty-four deposit banks. But of these, nine had less than $5000 each on deposit, six from $5000 to $10,000, and eight from $10,000 to $20,000. Fourteen had from $50,000 to $100,000 each. Only twenty-nine had more than $100,000 each. It is not unfair to speak of the deposits as being substantially in fifty banks.
The enormous land sales at the Southwest had placed a most disproportionate amount of money in banks in that part of the country. John Quincy Adams seemed, but with little reason, to consider this an intentional discrimination against the North. It is quite probable that, if the deposits had been in one national bank, the peculiarly excessive strain at that point would have been modified. But this was no great factor in the crisis.
[13] I cannot refrain from noticing here the curious fact that Dr. Von Holst, after a contemptuous picture of Van Buren as a mere verbose, coarse-grained politician given to scheming and duplicity, was not surprised at his meeting in so lofty a spirit this really great trial. For surely here, if anywhere, the essential fibre of the man would be discovered. I must also express my regret that this writer, to whom Americans owe very much, should have been content (although in this he has but joined some other historians of American politics) to accept mere campaign or partisan rumors which when directed against other men, have gone unnoticed, but against Van Buren have become the basis for emphatic disparagement and contumely. Even Mackenzie, the publisher of the purloined letters, writing his pamphlet with the most obvious and reckless venom, is quoted by this learned historian as respectable authority. Van Buren had refused during nearly a year to pardon Mackenzie from prison for his unlawful use of American territory to prepare armed raids on Canada. Sir Francis B. Head's opinion was doubtless somewhat colored; but he was not entirely without justification in applying to Mackenzie the words: "He lies out of every pore in his skin. Whether he be sleeping or waking, on foot or on horseback, together with his neighbors or writing for a newspaper, a multitudinous swarm of lies, visible, palpable, and tangible, are buzzing and settling about him like flies around a horse in August." (Narrative of Sir F. B. Head, London, 1839.)
[14] The reference was to commercial paper and not to bank-notes. But both had been active characteristics of American speculation.
[15] The depositories now authorized for the proceeds of the internal revenue secured the government by a deposit of the bonds of the latter, which the depositories must of course purchase and own. (U. S. Rev. Stats. § 5153.)
[16] I cannot refrain in this revised edition to note that England, although not always a ready scholar, has in later years learned a farseeing wisdom which in colonial administration makes her the teacher of the world. The modern policy of deference to local sentiment and of finding her own advantage in the independent prosperity of the colony, has bound continents, islands, races, religions, to the English empire, and brought from them wealth to England, as the old rule of force never did.
[17] It should be remembered that several great expenses of the White House were then and are now met by special and additional appropriations.
[18] I must again complain of the curious though unintended unfairness of Professor Von Holst (Const. Hist. of the U. S. 1828-1846, Chicago, 1879, p. 663). He treats this letter with great contempt. He assumes indeed that Van Buren's declaration for annexation would have given him the nomination; and admits that Van Buren declared himself "decidedly opposed to annexation." After this sufficient proof of courage, for Van Buren could at least have simply promised to adopt the vote of Congress on the main question, it was not very sensible to declare "disgusting" Van Buren's efforts "to creep through the thorny hedge which shut him off from the party nomination." Professor Von Holst's "disgust" seems particularly directed against the passage here annotated where, after his strong argument against annexation, he declared that he would not be influenced by sectional feeling, and would obey the wishes of a Congress chosen with reference to the question. Few, I think, will consider this promise with reference to such a question, either cowardly or "disgusting," made, as it was, by a candidate for the presidency, of a democratic republic, after clearly and firmly declaring his own views in advance of the congressional elections.