Diary of Charles Francis Adams, volume 5
1834-02-05
Mild but cloudy. I went to the Office and passed my time in reading the debate in the Senate between Mr. Webster and Mr. Wright.1 This is of some consequence as it lays open the future operation of parties. The former is driven to the Wall and now takes his course while the latter daringly proclaims that the party he represents will persevere to the end. Now comes the tug of war.
Attended a meeting of the Proprietors of the Middlesex Canal being the annual one for the choice of officers. Nothing new excepting the substitution of Abbott Lawrence as a Director in the place of J. B. Joy deceased. Walk with my Wife to order some things for a dinner I propose to give, tomorrow.
Afternoon at home. Began Mr. Gallatin’s Essay upon Banks and Currency which requires very fixed attention to comprehend, yet which conveys a great amount of valuable information.2 Terence. Evening quiet. Patronage.
The speeches in the Senate on the New York Resolution relating to Deposits by Silas Wright Jr., of New York, and Daniel Webster were printed in the National Intelligencer on 31 Jan. (p. 3, cols. 1–3) and 1 Feb. (p. 2, cols. 1–6).
Albert Gallatin’s influential essay first appeared in Dec. 1830 and March 1831 in the American Quarterly Review. It was afterward revised and expanded and published as Considerations on the Currency and Banking System of the United States, Phila., 1831. For an earlier reading by CFA, see vol. 4:36.