Mr. Clay himself stated "the average depression in the value of property under that state of things which existed before the Tariff of 1842 came to the rescue of the country, at fifty per cent." And hence it was that Protection was made the chief issue of the Presidential campaign of 1840, which eventuated in the election of Harrison and Tyler, and in the Tariff Act of August 30, 1842, which revived our trade and industries, and brought back to the land a full measure of prosperity. With those disasters fresh in the minds of the people, Protection continued to be a leading issue in the succeeding Presidential campaign of 1844—but coupled with the Texas-annexation issue. In that campaign Henry Clay was the candidate of the Whig party and James K. Polk of the Democratic party. Polk was an ardent believer in the annexation policy and stood upon a platform declaring for the "re-occupation of Oregon and the re-annexation of Texas at the earliest practicable moment"—as if the prefix "re" legitimatized the claim in either case; Clay, on the other hand, held that we had "fairly alienated our title to Texas by solemn National compacts, to the fulfilment of which we stand bound by good faith and National honor;" that "Annexation and War with Mexico are identical," and that he was "not willing to involve this country in a foreign War for the object of acquiring Texas."
[In his letter of April 17, 1844, published in the National Intelligencer.]
[In his letter of April 17, 1844, published in the National Intelligencer.]
[In his letter of April 17, 1844, published in the National Intelligencer.]
As to the Tariff issue also, Clay was the acknowledged champion of the American system of Protection, while Polk was opposed to it, and was supported by the entire Free-trade sentiment, whether North or South.
As the campaign progressed, it became evident that Clay would be elected. Then occurred some of those fatalities which have more than once, in the history of Presidential campaigns, overturned the most reasonable expectations and defeated the popular will. Mr. Clay committed a blunder and Mr. Polk an equivocation—to use the mildest possible term. Mr. Clay was induced by Southern friends to write a letter—[Published in the North Alabamian, Aug. 16, 1844.]—in which, after stating that "far from having any personal objection to the annexation of Texas, I should be glad to see it—without dishonor, without War, with the common consent of the Union, and upon just and fair terms," he added: "I do not think that the subject of Slavery ought to affect the question, one way or the other." Mr. Polk, on the other hand, wrote a letter in which he declared it to be "the duty of the Government to extend, as far as it may be practicable to do so, by its revenue laws and all other means within its power, fair and just Protection to all the great interests of the whole Union, embracing Agriculture, Manufactures, the Mechanic Arts, Commerce and Navigation." This was supplemented by a letter (August 8, 1844) from Judge Wilson McCandless of Pennsylvania, strongly upholding the Protective principle, claiming that Clay in his Compromise Tariff Bill had abandoned it, and that Polk and Dallas had "at heart the true interests of Pennsylvania." Clay, thus betrayed by the treachery of Southern friends, was greatly weakened, while Polk, by his beguiling letter, backed by the false interpretation put upon it by powerful friends in the North, made the North believe him a better Protectionist than Clay.
Polk was elected, and rewarded the misplaced confidence by making Robert J. Walker his Secretary of the Treasury, and, largely through that great Free Trader's exertions, secured a repeal by Congress of the Protective Tariff of 1842 and the enactment of the ruinous Free Trade Tariff of 1846. Had Clay carried New York, his election was secure. As it happened, Polk had a plurality in New York of but 5,106 in an immense vote, and that slim plurality was given to him by the Abolitionists throwing away some 15,000 on Birney. And thus also it curiously happened that it was the Abolition vote which secured the election of the candidate who favored immediate annexation and the extension of the Slave Power!
Emboldened and apparently sustained by the result of the election, the Slave Power could not await the inauguration of Mr. Polk, but proceeded at once, under whip and spur, to drive the Texas annexation scheme through Congress; and two days before the 4th of March, 1845, an Act consenting to the admission of the Republic of Texas as a State of the Union was approved by President Tyler.
In that Act it was provided that "New States of convenient size, not exceeding four in number, in addition to the said State of Texas, and having sufficient population, may hereafter, by the consent of said State, be formed out of the territory thereof, which shall be entitled to admission under the provisions of the Federal Constitution; and such States as may be formed out of that portion of said territory lying south of thirty-six degrees thirty minutes north latitude, commonly known as the Missouri Compromise line, shall be admitted into the Union with or without Slavery, as the people of each State asking admission may desire. And in such State or States as shall be formed out of said territory north of said Missouri Compromise line, Slavery or involuntary servitude (except for crime) shall be prohibited." As has been lucidly stated by another,—[Greeley's History]—"while seeming to curtail and circumscribe Slavery north of the above parallel (that of 36 30' north latitude), this measure really extended it northward to that parallel, which it had not yet approached, under the flag of Texas, within hundreds of miles. But the chief end of this sham Compromise was the involving of Congress in an indirect indorsement of the claim of Texas to the entire left bank of the Rio Grande, from its mouth to its source; and this was effected."
Texas quickly consented to the Act of annexation, and in December, 1845, a Joint Resolution formally admitting her as a State of the Union, reported by Stephen A. Douglas, was duly passed.