Albert Gallatin
urges specific appropriations by Congress and absence of departmental
discretion, 187;
urges reduction, both of debt and of taxes, 188;
unable to work with other departments because of Jefferson's habits,
188;
lack of elasticity in his plans, 189;
embarrassed by complications in department, 189;
his first report to Congress, 190;
denies existence of any surplus, 190;
explains plan for extinction of debt by 1817, 191;
given authority by Congress, 192;
table showing success of his measures, 192;
in spite of Louisiana purchase, reduces debt by one third, 192, 194;
dissatisfied with financial terms of Louisiana purchase, 193;
novelty of his distinction between place of payment of interest and
principal, 195;
arranges that Louisiana debt shall not retard payment of old debt, 196,
197;
his report of 1805, 107;
proposes funding of outstanding obligations in 1807, 198;
reports a full Treasury on occasion of threatened war with England,
198;
discusses application of surplus to war expenses, 199;
suggests methods of war taxation, 200;
prefers war to embargo, 201;
draws the embargo bill, 201;
discusses its financial effect, 201, 202;
confident attitude as to war loans, 202;
his policy supported by Jefferson, 203;
realizes that war will prevent reduction of debt, 203, 204;
relies on customs, tonnage dues, and land sales for revenue, 204;
reports deficiency owing to embargo, 204;
forced to borrow, 204;
reviews situation in 1811 with satisfaction, 205, 206;
asks for increase of revenue in case of war, 206;
proposes war loans, 207;
and interest-bearing treasury notes, 207;
insists on actual increased receipts, not apparent measures, 207, 208;
on necessity of upholding credit, 209;
receives authority from Congress, 209;
submits war budget, 209, 210;
his last annual statement in 1812, 211;
reports need of new loans, 212;
his personal friends, Parish, Girard, and Astor, save government credit,
213, 214;
fails to negotiate loan at par, 214;
failure of his hopes to extinguish debt, 215;
his policy vindicated by successors, 215;
charged with sacrificing defenses of country to reduction of debt, 216;
attempted defense of his course by "Democratic Review," 216;
his determination to follow financial principles and not a partisan
course, 216, 218;
does not invent new sources of revenue, 218;
his estimates follow those of Hamilton, 219;
estimates permanent revenue, 220;
unable to abandon internal revenue, 220;
does not protest against its abolition by Congress, 221;
does not alter estimates in spite of increase of revenue, 221;
proposes additional tax to meet war with Tripoli, 222;
applies surplus as far as possible to Louisiana purchase, 222;
political effect of his success during Jefferson's first term, 223;
in 1805 raises estimate of permanent revenue, 223;
impresses economy upon other departments, 223;
prepares scheme of internal improvements, 224;
after Chesapeake affair recommends borrowing, 224;
and doubling duties in case of war, 225;
receipts during his second term, 226;
his warning of diminished resources in future ignored by Jefferson,
226;
estimates for 1809, 228;
points out necessity of submitting to war or loss of foreign trade,
228, 229;
promises not to use internal taxes, 229;
reports diminished income and deficiency in 1809, 230;
declares for a strict enforcement or abandonment of embargo, 230;
disgusted at refusal of Congress to recharter United States Bank, 231;
tenders resignation to Madison, 231;
obliged to remain for lack of possible successor, 231;
continues to advocate increased customs, 232;
points out that, had his recommendations been followed in 1809, there
would have been a large surplus, 232, 233;
forces Congress to choose between a bank or internal taxes, 233, 234;
himself proposes internal taxes, 234;
his last report predicts deficiency and asks a loan, 235;
his recommendations of internal taxes disregarded, 235;
his previous use of Hamilton's internal taxes, 235;
his suggestions followed in 1813, 236;
connection with sale of public lands, 238;
unable fully to utilize this resource, 239;
earliest public advocate of free trade, 240;
later in career becomes leader of cause, 241;
his part in convention of 1831, 241;
draws memorial to Congress, 242;
his views followed in tariff of 1846, 242;
opposed to protection, 242;
violently attacked by Clay, who apologizes, 242;
introduces reforms in annual report, 245;
tries to induce Congress and departments to adopt scheme of minute
appropriations, 245, 246;
carries system into his own household, 246;
effects of his methods, 247;
on Jefferson's dislike of banks, 251;
his report of 1809 on Hamilton's bank, 252, 253;
suggests its renewal, with modifications, 253, 254;
his testimony as to its value, 255, 256;
estimate as to state banks in 1811, 258;
describes hostility of Astor to bank, 259;
left, by failure to renew bank charter, at mercy of capitalists, 260;
his opinion that absence of bank caused suspension of specie payments
in 1815, 262;
on Jefferson's proposal to issue paper money, 264;
his success a vindication of Federalist finance, 266;
opinion of services of second national bank, 266;
declines offer of secretaryship in 1816, 266, 267;
urges Madison to restore specie payment, 267;
declines position as president of Bank of United States in 1822, 268;
prepares statement of relative value of gold and silver, 268;
writes "Considerations on Currency and Banking," 268;
advocates use of specie and limited use of paper money, 268;
accepts presidency of National Bank of New York, 269;
his opinion of Jackson, 270;
his bank involved in panic of 1837, 272;
conducts resumption, 273;
chairman of committee of banks, 273;
submits reports, 275;
declines presidency of Bank of Commerce, 276;
resigns presidency of National Bank, 277;
publishes "Suggestions on Banks and Currency," 277;
condemns paper money, 277;
declines offer of Treasury Department from Tyler, 278;
in the cabinet, agrees with Republican leaders on all points except
bank, 279, 280;
prepares circular announcing disregard of party in appointments, 281;
and condemning political influence of officials, 281;
his policy opposed by Jefferson, 282;
obliged to follow cabinet in policy of partisan appointments, 282;
advises early preparation for campaign of 1804, 283;
wishes States divided into election districts, 283;
criticises annual messages of Jefferson, 283;
his proposal to appoint a woman to office condemned by Jefferson, 283;
suggests in vain regular cabinet consultations, 283, 284;
urges payment of tribute to Tripoli rather than war, 284;
opinion asked on points of constitutional law, 284;
holds inherent right of United States to acquire territory, 285;
disapproves of Texas annexation, 285;
advises Jefferson concerning Louisiana treaty, 285, 286;
attacked by Duane, for not turning out Federalists, 286;
absence of favoritism in his appointments, 286, 287;
supervises sale of lands, 287;
acquaintance with Choteau, 278;
drafts promise of protection for Astor's fur trade, 288;
opposes vainly Jefferson's gunboat scheme, 289;
submits plan of defense against England, 289;
urges moderate tone in message, 290;
devises scheme of internal improvements, 290;
doubts success of a National University, 291;
opposes a permanent embargo, 291;
prepares Campbell's report urging resistance, 292;
receives authority from Congress to enforce non-intercourse, 293;
favors war, 293;
submits "Notes on Political Situation," 294;
opposes ordering out naval force in favor of letters of marque, 294;
his appointment as secretary of state prevented by Republican
opponents in Senate, 294, 295;
continues to advise Madison, 295;
his measures meet opposition in Senate, 295;
deserted by Madison in his attempt to secure re-chartering of bank,
296;
tenders resignation, 296;
bitterly attacked in "Aurora," 297;
accused of dominating Madison and of corruption, 297, 298;
considered by Jefferson ablest man in administration except Madison,
298;
unable to command support in Congress, submits to war policy, 298,
299;
asks leave of absence and appointment as minister to Russia, 299;
attempts made to alienate him from Jefferson and Madison, 299;
his high regard for Jefferson, 300;
continued good terms with Madison, 300.
_Minister to Russia; Treaty of Ghent._
His voyage with Bayard, 301;
visits Gottenburg and Copenhagen, 301;
at St. Petersburg meets J. Q. Adams, 302;
his knowledge of history, 302;
lack of diplomatic experience as compared with Adams, 302;
contrast in character with Adams, 303;
considers peace necessary because of inefficiency in conduct of war,
303;
abandons his former opposition to a navy, 303;
low opinion of English diplomacy, 304;
view of necessity of an English renunciation of impressment, 305;
writes to Barings, 305;
receives Baring's reply, 306, 307;
explains case to Romanzoff, 307;
assured by Moreau of imperial sympathy, 308;
warned by him of England's purposes, 308;
writes to Monroe asking instructions, 308, 309;
informs Baring of inability to negotiate except through Russia, 309;
writes to Moreau, 309, 310;
instructs Dallas as to duties in London, 310;
receives news of refusal of Senate to confirm his nomination, 310;
contemplates visit to London, 311;
hears that British government proposes to treat directly, 311;
unable to return home, 312;
journey to Amsterdam, 312;
not at first included in second commission, but later added, 312;
visits London, 313;
learns of arrival of Clay and Russell, 313;
urges Lafayette to mediate, 313;
wishes to change place of negotiation from Gottenburg, 314;
urges Crawford to secure interposition of emperor, 315;
receives letter from Lafayette through Humboldt, promising aid, 315;
makes official appeal to emperor, 315;
learns of refusal of England to admit intervention, 316;
warns Monroe of English preparations, 316;
visits Paris, 316;
meets British commissioners at Ghent, 316;
notifies Monroe of determination of England to dismember United States
and attack New Orleans, 317, 318;
despairs of peace, 318;
draws reply of commissioners rejecting British demands, 319;
explains reasons for willingness to discuss Indian article, 319, 320;
condemns burning of public buildings at Washington, 320;
expresses confidence in American securities, 320;
has difficulty in mediating between Clay and Adams on fisheries and
Mississippi navigation, 322, 323;
proposes engagement to abandon use of savages in future war, 323;
the credit of treaty due to him, 324;
his diplomatic skill, 324;
wins European admiration, 325;
visits Geneva, 325, 326;
sees Napoleon during Hundred Days, 326;
appointed minister to France, 326;
with Clay and Adams negotiates commercial convention, 326, 327;
friendly attitude of Castlereagh toward, 326;
on value of abolition of discriminating duties, 327;
returns to New York, 327;
withholds acceptance of French mission, 327;
describes to Jefferson European opinion of United States, 327;
describes condition of France after Revolution, 327, 328;
does not consider republican form of government suitable everywhere,
328;
weary of politics, declines nomination to Congress, 329;
declines French mission on ground of poverty, 329;
finally yields to Monroe's requests, 329;
refuses offer of Treasury Department, his reasons, 330;