Albert Gallatin
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AMERICAN STATESMEN
EDITED BY
JOHN T. MORSE, JR.
IN THIRTY-TWO VOLUMES VOL. XIII.
THE JEFFERSONIAN DEMOCRACY
ALBERT GALLATIN
American Statesmen
STANDARD LIBRARY EDITION
HOUGHTON, MIFFLIN & CO.
American Statesmen
ALBERT GALLATIN
BY
JOHN AUSTIN STEVENS
BOSTON AND NEW YORK
HOUGHTON, MIFFLIN AND COMPANY
The Riverside Press, Cambridge
Copyright, 1883 and 1898,
BY HOUGHTON, MIFFLIN & CO.
_All rights reserved._
PREFACE
Every generation demands that history shall be rewritten. This is not
alone because it requires that the work should be adapted to its own
point of view, but because it is instinctively seeking those lines which
connect the problems and lessons of the past with its own questions and
circumstances. If it were not for the existence of lines of this kind,
history might be entertaining, but would have little real value. The
more numerous they are between the present and any earlier period, the
more valuable is, for us, the history of that period. Such
considerations establish an especial interest just at present in the
life of Gallatin.
The Monroe Doctrine has recently been the pivot of American
statesmanship. With that doctrine Mr. Gallatin had much to do, both as
minister to France and envoy to Great Britain. Indeed, in 1818, some
years before the declaration of that doctrine, when the Spanish colonies
of South America were in revolt, he declared that the United States
would not even aid France in a mediation. Later, in May, 1823, six
months before the famous message of President Monroe, Mr. Gallatin had
already uttered its idea; when about leaving Paris, on his return from
the French mission, he said to Chateaubriand, the French minister of
foreign affairs (May 13, 1823): "The United States would undoubtedly
preserve their neutrality, provided it were respected, and avoid any
interference with the politics of Europe.... On the other hand, they
would not suffer others to interfere against the emancipation of
America." With characteristic vanity Canning said that it was he himself
who "called the new world into existence to redress the balance of the
old." Yet precisely this had already for a long while been a cardinal
point of the policy of the United States. So early as 1808, Jefferson,
alluding to the disturbed condition of the Spanish colonies, said: "We
consider their interest and ours as the same, and that the object of
both must be to exclude all European influence in this hemisphere."
Matters of equal interest are involved in the study of Mr. Gallatin's
actions and opinions in matters of finance. Every one knows that he
ranks among the distinguished financiers of the world, and problems
which he had to consider are still agitating the present generation. He
was opposed alike to a national debt and to paper money. Had the
metallic basis of the United States been adequate, he would have
accepted no other circulating medium, and would have consented to the
use of paper money only for purposes of exchange and remittance. In 1830
he urged the restriction of paper money to notes of one hundred dollars
each, which were to be issued by the government. Obviously these must be
used chiefly for transmitting funds, and would be of little use for the
daily transactions of the people. Yet even this concession was due to
the fact that the United States was then a debtor country, and so late
as 1839, as Mr. Gallatin said, "specie was a foreign product." For
subsidiary money he favored silver coins at eighty-five per cent. of the
dollar value, a sufficient alloy to hold them in the country. Silver was
then the circulating medium of the world, the people's pocket money, and
gold was the basis and the solvent of foreign exchanges.
Great interest attaches to the application of some other of Gallatin's
financial principles to more modern problems; and a careful study of his
papers may fairly enable us to form a few conclusions. It may be safely
said that he would not have favored a national bank currency based on
government bonds. This, however, would not have been because of any
objection to the currency itself, but because the scheme would insure
the continuance of a national debt. He was too practical, also, not to
see that the ultimate security is the faith of the government, and that
no filtering of that responsibility through private banks could do
otherwise than injure it. Further, it is reasonably safe to say that he
would favor the withdrawal both of national bank notes and of United
States notes, the greenbacks so-called; and that he would consent to the
use of paper only in the form of certificates directly representing the
precious metals, gold and silver; also that he would limit the use of
silver to its actual handling by the people in daily transactions. He
would feel safe to disregard the fluctuations of the intrinsic value of
silver, when used in this limited way as a subordinate currency, on the
ground that the stamp of the United States was sufficient for conferring
the needed value, when the obligation was only to maintain the parity,
not of the silver, but of the coin, with gold. He understood that, in
the case of a currency which is merely subordinate, parity arises from
the guaranty of the government, and not from the quality of the coin;
and that only such excess of any subordinate currency as is not needed
for use in daily affairs can be presented for redemption. This
principle, well understood by him, is recognized in European systems,
wherein the minimum of circulation is recognized as a maximum limit of
uncovered issues of paper. The circulation of silver, or of
certificates based upon it, comes within the same rule.
At the time of the publication of this volume objection was taken to the
author's statement that, until the publication of Gallatin's writings,
his fame as a statesman and political leader was a mere tradition. Yet
in point of fact, not only is his name hardly mentioned by the early
biographers of Jefferson, Madison, and J. Q. Adams, but even by the
later writers in this very Series, his work, varied and important as it
was, has been given but scant notice. The historians of the United
States, and those who have made a specialty of the study of political
parties, have been alike indifferent or derelict in their investigations
to such a degree that it required months of original research in the
annals of Congress to ascertain Gallatin's actual relations towards the
Federalist party which he helped to overthrow, and towards the
Republican party which he did so much to found, and of which he became
the ablest champion, in Congress by debate, and in the cabinet by
administration.
Invited by the publishers of the Statesmen Series to bring this study
"up to date," the author has found no important changes to make in his
work as he first prepared it. In the original investigation every source
of information was carefully explored, and no new sources have since
then been discovered. Mr. Gallatin's writings, carefully preserved in
originals and copies, and well arranged, supplied the details; while the
family traditions, with which the author was familiar, indicated the
objects to be obtained. But so wide was the general field of Mr.
Gallatin's career, so varied were his interests in all that pertained to
humanity, philanthropy, and science, and so extensive were his relations
with the leaders of European and American thought and action, that the
subject could only be treated on the broadest basis. With this apology
this study of one of the most interesting characters of American life is
again commended to the indulgence of the American people.
NEWPORT, April, 1898.
CONTENTS
CHAP. PAGE
I. EARLY LIFE 1
II. PENNSYLVANIA Legislature 32
III. UNITED STATES SENATE 56
IV. THE WHISKEY INSURRECTION 67
V. MEMBER OF CONGRESS 97
VI. SECRETARY OF THE TREASURY 170
VII. IN THE CABINET 279
VIII. IN DIPLOMACY 301
IX. CANDIDATE FOR THE VICE-PRESIDENCY 355
X. SOCIETY--LITERATURE--SCIENCE 361
INDEX 391
ILLUSTRATIONS
ALBERT GALLATIN _Frontispiece_
From the original painting by Gilbert Stuart, in the
possession of Frederic W. Stevens, Esq., New York, N. Y.
Autograph from the Chamberlain collection, Boston
Public Library.
The vignette of "Friendship Hill," Mr. Gallatin's
home at New Geneva, Pa., is from a photograph.
Page
ROBERT GOODLOE HARPER _facing_ 98
From a painting by St. Memin, in the possession of
Harper's granddaughter, Mrs. William C. Pennington,
Baltimore, Md.
Autograph from a MS. in the New York Public
Library, Lenox Building.
ALEXANDER J. DALLAS _facing_ 236
From the original painting by Gilbert Stuart, in the
possession of Mrs. W. H. Emory, Washington, D. C.
Autograph from the Chamberlain collection, Boston
Public Library.
JAMES A. BAYARD _facing_ 312
From a painting by Wertmueller, owned by the late
Thomas F. Bayard, Wilmington, Del.
Autograph from the Chamberlain collection, Boston
Public Library.
ALBERT GALLATIN
CHAPTER I
EARLY LIFE
Of all European-born citizens who have risen to fame in the political
service of the United States, Albert Gallatin is the most distinguished.
His merit in legislation, administration, and diplomacy is generally
recognized, and he is venerated by men of science on both continents.
Not, however, until the publication of his writings was the extent of
his influence upon the political life and growth of the country other
than a vague tradition. Independence and nationality were achieved by
the Revolution, in which he bore a slight and unimportant part; his
place in history is not, therefore, among the founders of the Republic,
but foremost in the rank of those early American statesmen, to whom it
fell to interpret and administer the organic laws which the founders
declared and the people ratified in the Constitution of the United
States. A study of his life shows that, from the time of the peace until
his death, his influence, either by direct action or indirect counsel,
may be traced through the history of the country.
The son of Jean Gallatin and his wife, Sophie Albertine Rollaz, he was
born in the city of Geneva on January 29, 1761, and was baptized by the
name of Abraham Alfonse Albert Gallatin. The name Abraham he received
from his grandfather, but it was early dropped, and he was always known
by his matronymic Albert. The Gallatin family held great influence in
the Swiss Republic, and from the organization of the State contributed
numerous members to its magistracy; others adopted the military
profession, and served after the manner of their country in the Swiss
contingents of foreign armies. The immediate relatives of Albert
Gallatin were concerned in trade. Abraham, his grandfather, and Jean,
his father, were partners. The latter dying in 1765, his widow assumed
his share in the business. She died in March, 1770, leaving two
children,--Albert, then nine years of age, and an invalid daughter who
died a few years later. The loss to the orphan boy was lessened, if not