Clay, Henry, 1777-1852 to Nathaniel P. Tallmadge
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Gilder Lehrman Collection #: GLC05097 Author/Creator: Clay, Henry, 1777-1852 Place Written: Lexington, Kentucky Type: Autograph letter signed Date: 12 April 1839 Pagination: 2 p. : Height: 25.4 cm, Width: 20.4 cm Order a Copy
Expresses his agreement with a speech that Tallmadge gave recently concerning the three great systems of policy; internal improvements, the tariff, and the Bank of United States. Writes about state banks and whether or not they can supply sound, stable currency of uniform value. Remarks that he believes the banks established in New York are able to do this. Notes that if the state banks can accomplish this, there will be no need of a Bank of the United States. Confesses that he has reservations about whether or not this is possible since there are so many states in the Union with so many different banks. " I think it would not be right to commit ourselves against the employment of such an Agency [Bank of the United States], if the establishment, in the public judgment, should become indispensable hereafter." Mentions their success in an election in Connecticut. Addressed from Ashland, Clay's home in Kentucky.
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