Diary of Charles Francis Adams, volume 8
1838-04-11
Morning rainy and continued so all day. I went out to make purchases for Quincy and was detained in this until late so that I had very little time after I reached the Office to do much work. Calls from various tenants but no letters from Washington. The New York Banks seem determined to begin the work of resumption notwithstanding the resistance of Mr. Biddle. On the other hand, there seem to be indications of breaking in the Administration party. Mr. Hamer of Ohio has made a step which may or may not lead to consequences. Both parties appear excessively embarrassed.1 And in the mean time the country suffers. Home late. Afternoon coins. Evening at home reading that melancholy volume of Walter Scott.
Thomas Lyon Hamer, U.S. representative from Ohio and a Democrat, had announced to the House that considering that “the business, commerce, circulation, and exchanges ... are in a deranged and embarrassed condition; and considering, also, that a part of the Bank of the United States have expressed a desire to resume specie payments at an early period,” he intended to introduce a resolution “That if the banks, or a portion of them, do thus resume it will be the duty of the General Government ... to aid such banks ... in regaining public confidence, and to sustain them in their laudable efforts to fulfil their obligations ... to restore to the people a sound circulating medium.” In the same issue, the Administration paper carried an editorial of “authorized” explanation that there was no intent on the part of the mover to indicate any change of position, nor any intent of the “party in power” to be hostile to such action if taken by banks or to throw “unnecessary obstacles in their way.” Further explanations were offered, when the resolution was introduced, that there was no intent to attack Administration policy nor to embarrass it (Washington Globe, 7 April, p. 3, cols. 3, 5; 9 April, p. 2, col. 7 - p. 3, col. 1).