Thirty Years' View (Vol. I of 2). Benton Thomas Hart

– ships of the line, and frigates – with a collection of materials for future use – and the limitation of our naval policy to the object of commercial protection. He did not even include coast defence, his experience having shown him that the men on shore could defend the land. In a word, he recommended a naval policy; and that was the same which the republicans of 1798 had adopted, and which Virginia made obligatory upon her senators in 1800; and which, under the blaze of shining victories, had yielded to the blind, and aimless, and endless operation of building and rotting peaceful ships of war. He said:

      "In time of peace, we have need of no more ships of war than are requisite to the protection of our commerce. Those not wanted for this object must lay in the harbors, where, without proper covering, they rapidly decay; and, even under the best precautions for their preservation, must soon become useless. Such is already the case with many of our finest vessels; which, though unfinished, will now require immense sums of money to be restored to the condition in which they were, when committed to their proper element. On this subject there can be but little doubt that our best policy would be, to discontinue the building of ships of the first and second class, and look rather to the possession of ample materials, prepared for the emergencies of war, than to the number of vessels which we can float in a season of peace, as the index of our naval power."

      This was written twenty years ago, and by a President who saw what he described – many of our finest ships going to decay before they were finished – demanding repairs before they had sailed – and costing millions for which there was no return. We have been going on at the same rate ever since – building, and rotting, and sinking millions; but little to show for forty years of ship-carpentry; and that little nothing to do but to cruise where there is nothing to catch, and to carry out ministers to foreign courts who are not quite equal to the Franklins, Adamses and Jeffersons – the Pinckneys, Rufus Kings, and Marshalls – the Clays, Gallatins and Bayards – that went out in common merchant vessels. Mr. Jefferson told me that this would be the case twenty-five years ago when naval glory overturned national policy, and when a navy board was created to facilitate ship-construction. But this is a subject which will require a chapter of its own, and is only incidentally mentioned now to remark that we have no policy with respect to a navy, and ought to have one – that there is no middle point between defence and conquest – and no sequence to a conquering navy but wars with the world, – and the debt, taxes, pension list, and pauper list of Great Britain.

      The inutility of a Bank of the United States as a furnisher of a sound and uniform currency, and of questionable origin under our constitution, was thus stated:

      "The charter of the Bank of the United States expires in 1836, and its stockholders will most probably apply for a renewal of their privileges. In order to avoid the evils resulting from precipitancy in a measure involving such important principles, and such deep pecuniary interests, I feel that I cannot, in justice to the parties interested, too soon present it to the deliberate consideration of the legislature and the people. Both the constitutionality and the expediency of the law creating this bank, are well questioned by a large portion of our fellow-citizens; and it must be admitted by all, that it has failed in the great end of establishing a uniform and sound currency."

      This is the clause which party spirit, and bank tactics, perverted at the time (and which has gone into history), into an attack upon the bank – a war upon the bank – with a bad motive attributed for a war so wanton. At the same time nothing could be more fair, and just, and more in consonance with the constitution which requires the President to make the legislative recommendations which he believes to be proper. It was notice to all concerned – the bank on one side, and the people on the other – that there would be questions, and of high import – constitutionality and expediency – if the present corporators, at the expiration of their charter, should apply for a renewal of their privileges. It was an intimation against the institution, not against its administrators, to whom a compliment was paid in another part of the same message, in ascribing to the help of their "judicious arrangement" the averting of the mercantile pressure which might otherwise have resulted from the sudden withdrawal of the twelve and a half millions which had just been taken from the bank and applied to the payment of the public debt. But of this hereafter. The receipts and expenditures were stated, respectively, for the preceding year, and estimated for the current year, the former at a fraction over twenty-four and a half millions – the latter a fraction over twenty-six millions – with large balances in the treasury, exhibiting the constant financial paradox, so difficult to be understood, of permanent annual balances with an even, or even deficient revenue. The passage of the message is in these words:

      "The balance in the treasury on the 1st of January, 1829, was five millions nine hundred and seventy-two thousand four hundred and thirty-five dollars and eighty-one cents. The receipts of the current year are estimated at twenty-four millions, six hundred and two thousand, two hundred and thirty dollars, and the expenditures for the same time at twenty-six millions one hundred and sixty-four thousand five hundred and ninety-five dollars; leaving a balance in the treasury on the 1st of January next, of four millions four hundred and ten thousand and seventy dollars, eighty-one cents."

      Other recommendations contained the sound democratic doctrines – speedy and entire extinction of the public debt – reduction of custom-house duties – equal and fair incidental protection to the great national interests (agriculture, manufactures and commerce) – the disconnection of politics and tariffs – and the duty of retrenchment by discontinuing and abolishing all useless offices. In a word, it was a message of the old republican school, in which President Jackson had been bred; and from which he had never departed; and which encouraged the young disciples of democracy, and consoled the old surviving fathers of that school.

      CHAPTER XLII.

      THE RECOVERY OF THE DIRECT TRADE WITH THE BRITISH WEST INDIA ISLANDS

      The recovery of this trade had been a large object with the American government from the time of its establishment. As British colonies we enjoyed it before the Revolution; as revolted colonies we lost it; and as an independent nation we sought to obtain it again. The position of these islands, so near to our ports and shores – the character of the exports they received from us, being almost entirely the product of our farms and forests, and their large amount, always considerable, and of late some four millions of dollars per annum – the tropical productions which we received in return, and the large employment it gave to our navigation – all combined to give a cherished value to this branch of foreign trade, and to stimulate our government to the greatest exertions to obtain and secure its enjoyment; and with the advantage of being carried on by our own vessels. But these were objects not easily attainable, and never accomplished until the administration of President Jackson. All powers are jealous of alien intercourse with their colonies, and have a natural desire to retain colonial trade in their own hands, both for commercial and political reasons; and have a perfect right to do so if they please. Partial and conditional admission to trade with their colonies, or total exclusion from them, is in the discretion of the mother country; and any participation in their trade by virtue of treaty stipulations or legislative enactment, is the result of concession – generally founded in a sense of self-interest, or at best in a calculation of mutual advantage. No less than six negotiations (besides several attempts at "concerted legislation") had been carried on between the United States and Great Britain on this subject; and all, until the second year of General Jackson's administration, resulting in nothing more than limited concessions for a year, or for short terms; and sometimes coupled with conditions which nullified the privilege. It was a primary object of concern with General Washington's administration; and a knowledge of the action then had upon it elucidates both the value of the trade, the difficulty of getting admission to its participation, and the right of Great Britain to admit or deny its enjoyment to others. General Washington had practical knowledge on the subject. He had seen it enjoyed, and lost – enjoyed as British subjects, lost as revolted colonies and independent states – and knew its value, both from the use and the loss, and was most anxious to recover it. It was almost the first thing, in our foreign relations, to which he put his hand on becoming President; and literally did he put his hand to it. For as early as the 14th of October, 1789 – just six months after his inauguration – in a letter of unofficial instructions to Mr. Gouverneur Morris, then in Europe, written with his