Chapter CXXVII: Mr. Tyler's Second Annual Message

The prominent topics of the message were the state of our affairs with Great Britain and Mexico--with the former in relation to Oregon, the latter in relation to Texas. In the same breath in which the President announced the happy results of the Ashburton treaty, he was forced to go on and show the improvidence of that treaty on our part, in not exacting a settlement of the questions which concerned the interests of the United States, while settling those which lay near to the interests of Great Britain. The Oregon territorial boundary was one of these omitted American subjects; but though passed over by the government in the negotiations, it was forced upon its attention by the people. A stream of emigration was pouring into that territory, and their presence on the banks of the Columbia caused the attention of both governments to be drawn to the question of titles and boundaries; and Mr. Tyler introduced it accordingly to Congress.

"A question of much importance still remains to be adjusted
between them. The territorial limits of the two countries in
relation to what is commonly known as the Oregon Territory,
still remains in dispute. The United States would be at all
times indisposed to aggrandize themselves at the expense of any
other nation; but while they would be restrained by principles
of honor, which should govern the conduct of nations as well
as that of individuals, from setting up a demand for territory
which does not belong to them, they would as unwillingly consent
to a surrender of their rights. After the most rigid, and, as
far as practicable, unbiassed examination of the subject, the
United States have always contended that their rights appertain
to the entire region of country lying on the Pacific, and
embraced within 42° and 54° 40' of north latitude. This claim
being controverted by Great Britain, those who have preceded
the present Executive--actuated, no doubt, by an earnest
desire to adjust the matter upon terms mutually satisfactory
to both countries--have caused to be submitted to the British
Government propositions for settlement and final adjustment,
which, however, have not proved heretofore acceptable to it.
Our Minister at London has, under instructions, again brought
the subject to the consideration of that Government; and while
nothing will be done to compromit the rights or honor of the
United States, every proper expedient will be resorted to, in
order to bring the negotiation now in the progress of resumption
to a speedy and happy termination."

This passage, while letting it be seen that we were already engaged in a serious controversy with Great Britain--engaged in it almost before the ink was dry which had celebrated the peace mission which was to settle all questions--also committed a serious mistake in point of fact, and which being taken up as a party watchword, became a difficult and delicate point of management at home: it was the line of 54 degrees 40 minutes north for our northern boundary on the Pacific. The message says that the United States have always contended for that line. That is an error. From the beginning of the dispute, the United States government had proposed the parallel of 49 degrees, as being the continuation of the dividing line on this side of the Rocky Mountains, and governed by the same law--the decision of the commissaries appointed by the British and French under the tenth article of the treaty of Utrecht to establish boundaries between them on the continent of North America. President Jefferson offered that line in 1807--which was immediately after the return of Messrs. Lewis and Clark from their meritorious expedition, and as soon as it was seen that a question of boundary was to arise in that quarter with Great Britain. President Monroe made the same offer in 1818, and also in 1824. Mr. Adams renewed it in 1826: so that, so far from having always claimed to 54-40, the United States had always offered the parallel of 49. As to 54-40, no American statesman had ever thought of originating a title there. It was a Russian point of demarcation on the coast and islands--not a continental line at all--first assigned to the Russian Fur Company by the Emperor Paul, and afterwards yielded to Russia by the United States and Great Britain, separately, in separating their respective claims on the north-west of America. She was allowed to come south to that point on the coast and islands, not penetrating the interior of the continent--leaving the rest for Great Britain and the United States to settle as they could. It was proposed at the time that the three powers should settle together--in a tripartite treaty: but the Emperor Alexander, like a wise man, contented himself with settling his own boundary, without mixing himself in the dispute between the United States and Great Britain. This he did about the year 1820: and it was long afterwards, and by those who knew but little of this establishment of a southern limit for the Russian Fur Company, that this point established in their charter, and afterwards agreed to by the United States and Great Britain, was taken up as the northern boundary for the United States. It was a great error in Mr. Tyler to put this Russian limit in his message for our line; and, being taken up by party spirit, and put into one of those mushroom political creeds, called "platforms" (wherewith this latter generation has been so plentifully cursed), it came near involving the United States in war.

The prospective war with Mexico on the subject of Texas was thus shadowed forth:

"I communicate herewith certain despatches received from our
Minister at Mexico, and also a correspondence which has recently
occurred between the envoy from that republic and the Secretary
of State. It must be regarded as not a little extraordinary
that the government of Mexico, in anticipation of a public
discussion, which it has been pleased to infer, from newspaper
publications, as likely to take place in Congress, relating to
the annexation of Texas to the United States, should have so far
anticipated the result of such discussion as to have announced
its determination to visit any such anticipated decision by
a formal declaration of war against the United States. If
designed to prevent Congress from introducing that question as
a fit subject for its calm deliberation and final judgment, the
Executive has no reason to doubt that it will entirely fail of
its object. The representatives of a brave and patriotic people
will suffer no apprehension of future consequences to embarrass
them in the course of their proposed deliberations. Nor will the
Executive Department of the government fail, for any such cause,
to discharge its whole duty to the country."

At the time of communicating this information to Congress, the President was far advanced in a treaty with Texas for her annexation to the United States--an event which would be war itself with Mexico, without any declaration on her part, or our part--she being then at war with Texas as a revolted province, and endeavoring to reclaim her to her former subjection. Still prepossessed with his idea of a national currency of paper money, in preference to gold and silver, the President recurs to his previous recommendation for an Exchequer bank--regrets its rejection by Congress,--vaunts its utility--and thinks that it would still aid, in a modified form, in restoring the currency to a sound and healthy state.

"In view of the disordered condition of the currency at the
time, and the high rates of exchange between different parts of
the country, I felt it to be incumbent on me to present to the
consideration of your predecessors a proposition conflicting in
no degree with the constitution or the rights of the States,
and having the sanction--not in detail, but in principle--of
some of the eminent men who had preceded me in the executive
office. That proposition contemplated the issuing of treasury
notes of denominations not less than five, nor more than one
hundred dollars, to be employed in payment of the obligations
of the government in lieu of gold and silver, at the option of
the public creditor, and to an amount not exceeding $15,000,000.
It was proposed to make them receivable every where, and to
establish at various points depositories of gold and silver,
to be held in trust for the redemption of such notes, so as
to insure their convertibility into specie. No doubt was
entertained that such notes would have maintained a par value
with gold and silver--thus furnishing a paper currency of equal
value over the Union, thereby meeting the just expectations of
the people, and fulfilling the duties of a parental government.
Whether the depositories should be permitted to sell or purchase
bills under very limited restrictions, together with all its
other details, was submitted to the wisdom of Congress, and was
regarded as of secondary importance. I thought then, and think
now, that such an arrangement would have been attended with the
happiest results. The whole matter of the currency would have
been placed where, by the constitution, it was designed to be
placed--under the immediate supervision and control of Congress.
The action of the government would have been independent of
all corporations; and the same eye which rests unceasingly on
the specie currency, and guards it against adulteration, would
also have rested on the paper currency, to control and regulate
its issues, and protect it against depreciation. Under all the
responsibilities attached to the station which I occupy, and
in redemption of a pledge given to the last Congress, at the
close of its first session, I submitted the suggestion to its
consideration at two consecutive sessions. The recommendation,
however, met with no favor at its hands. While I am free to
admit that the necessities of the times have since become
greatly ameliorated, and that there is good reason to hope that
the country is safely and rapidly emerging from the difficulties
and embarrassments which every where surrounded it in 1841,
yet I cannot but think that its restoration to a sound and
healthy condition would be greatly expedited by a resort to the
expedient in a modified form."

Such were still the sighings and longings of Mr. Tyler for a national currency of paper money. They were his valedictory to that delusive cheat. Before he had an opportunity to present another annual message, the Independent Treasury System, and the revived gold currency had done their office--had given ease and safety to the government finances, had restored prosperity and confidence to the community, and placed the country in a condition to dispense with all small money paper currency--all under twenty dollars--if it only had the wisdom to do so.