Auction Date:2012 May 16 @ 18:00 (UTC-05:00 : EST/CDT)
Location:5 Rt 101A Suite 5, Amherst, New Hampshire, 03031, United States
ALS - Autograph Letter Signed
ANS - Autograph Note Signed
AQS - Autograph Quotation Signed
AMQS - Autograph Musical Quotation Signed
DS - Document Signed
FDC - First Day Cover
Inscribed - “Personalized”
ISP - Inscribed Signed Photograph
LS - Letter Signed
SP - Signed Photograph
TLS - Typed Letter Signed
Third-person ALS, one page, 8 x 10, July 4, 1841. Letter reads, in full: “H. Clays respects to Miss Maury, with his thanks for the testimony she has communicated to him in respect to Mr. Madison's opinions as to a Nat. bank. What caught her eye, as to Mr. River's statement relative to them, regarded Mr. Jefferson & not Mr. Madison." Intersecting folds, some light toning and show-through from tape and mounting remnants on reverse, and a few light stains, otherwise fine condition.
Clay’s letter regarding the Second National Bank of the United States was to Sarah Mytton Maury, an English author who wrote several books on American politics. The First Bank of the United States had been chartered with the strong support of the Federalist party, over the vocal objections of Thomas Jefferson, James Madison, and other members of the Democratic-Republican party. Jefferson and Madison opposed increasing federal power and believed a national bank was unconstitutional and would impinge on property ownership. During the War of 1812, Congress reauthorized the National Bank to finance the war; President Madison vetoed it, but later came to recognize the importance of strengthening the American financial system and supported the National Bank when Congress approved its charter in 1816.
Clay supported the creation of the Second National Bank, and spoke in its favor the 1816 congressional debate. An attempt was made in congress in 1832 to extend the bank’s charter, but President Andrew Jackson vetoed the bill. Some suggested the move was a political ploy in Jackson’s presidential election campaign against Clay. Soon thereafter, Jackson removed all government deposits from the bank, hastening its decline. Efforts to obtain a recharter, backed by Henry Clay, failed and the bank lost its charter in 1836. It went bankrupt five years later in 1841, likely prompting this exchange with Mytton.
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5 Rt 101A Suite 5, Amherst, New Hampshire, 03031, United States
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