6 May 1819
adams-john10 Neal MillikanBank of the United StatesPanic of 1819War of 1812
104

6. V:30. Thermometer this morning at 84. Mr Crawford had summoned a meeting of the Commissioners of the sinking fund, at one O’Clock; which I attended; with the Attorney General Mr Wirt. Two Resolutions were past; one to redeem 27 per Cent of the Louisiana Loan, and to apply the residue of the ten Millions of Dollars appropriated by Law for the annual redemption of the Public Debt, after provision for the interest payable in the year, to the purchase of three per Cent Stocks— There was a desultory discussion of various questions relating to these payments; and conversation upon various other topics; a violent thunder gust having detained us there, a half an hour, after the business of the Meeting was finished. Wirt was groaning about the pressure of the Banks upon the People; and from the manner in which he spoke I conjectured that he had feeling of his own in the affair— The transactions of the Baltimore Branch Bank, are still in confusion, and not likely to be soon adjusted. Crawford had a National Advocate which he was reading, and he remarked with great apparent satisfaction, that the recent Elections in the State of New York, had, as he said blown up De Witt Clinton. The Election of Governor in that State will not take place till the next year; but the elections to the Legislature appear to be going against his friends and supporters. Crawford and Wirt both gave it as their opinion that this would put Clinton down, never to rise again—which will depend very much upon circumstances. De Witt Clinton’s political fortunes have been more marked with starts of good and evil Fortune than those of any other man in the Union. He has been taken up, and lain aside, at least half a dozen times; and was never more low and discredited in public opinion than immediately before he was elected Governor of New-York without Opposition. He is in fact a man of great talents, and has magnificent purposes of public service— He has comprehensive views, and great designs— But with these high and honourable materials of ambition he employs those of a baser sort; the Charlatanery of popular enticement— He affects to be a man of universal science; and smatters in agriculture, the arts, manufactures, antiquities, and every thing that smacks of combination, and vote-making— He has been labouring all his life, in combinations and Coalitions; and political intriguing with individuals and with parties. He began his political life as a furious republican, and rose with the downfall of the federal party in New-York.— He then made common cause with Burr and his partizans, afterwards quarreled with them and then coalesced with them again— Till the commencement of the late War with England he had continued however through all his changes an ardent republican; but no sooner was that War declared than he veered about, thrust himself forward as head of a Peace party— Negotiated for and obtained the support of the federalists, as a Candidate for the Presidency in opposition to the re-election of Mr Madison in 1812 and had agents travelling about the Country, and bargaining with individuals of influence, to obtain their support to secure his election— George Blake the District Attorney at Boston, told me last September, that in 1812 Clinton’s Ambassador, came to him, and explicitly assured him that as Mr Clinton was a Candidate for the 105Presidency with a fair prospect of being elected, his, Blake’s continuance in his Office, would depend upon the part he should take in the Election— That if Mr Clinton should succeed he would of course favour those who favoured him— He did the same with others; and the New-England federalists actually gave him their support. This manoeuvre however did not succeed. His forecast failed him, in regard to the effect and result of the War; and his versatility threw him back instead of advancing him in the progress of his ambition. At the close of the War he was so unpopular that he was removed from the Office of Mayor of New York, and turned over to private life: but only two years afterwards Tompkins the Governor of New-York, being transferred to the Vice-Presidency of the Union, a sudden and unaccountable coalition of all the parties in New-York, fixed upon De Witt Clinton, and he was elected Governor without opposition. Since then his public measures have been generally good; and his Speeches to the Legislature of the State have been much admired; but his appointments to office have not given satisfaction. The last year he lost much of his influence in the Legislature; and he will probably lose more by the issue of those now made. The chance is against him for his own re-election the next year— But ups and downs are the natural characters of such a man’s history. His abilities rank him among the first men in the Union—he is the most eminent though not the ablest man in the State of New-York; and as he is yet not more than fifty years old, another fall will by no means be decisive of his fate for life. Crawford however, obviously considers him now, as a rival removed; and evidently reckons upon the support of New-York for himself at the proper time. That he had electioneering intelligences with some of the New-York Members of the late Congress, at the last Session was manifest; and he spoke this day of the men of political consideration in New-York, with an intimate knowledge of all their party views, bearings and connections. He spoke too in a tone, that shewed a confidence that all Clinton’s losses in that State would be his gains. I returned to my Office after the meeting was over, and finished at last the draft of a despatch to R. Rush upon the suspended Article— In the Evening Mr Bailey called with Mr and Mrs B. Whitman of Boston, who are here on a travelling visit— Mrs. Whitman was formerly Mrs Jos: Blake, and first known to me as Miss Black— I did not know she was married to Whitman, until she was thus introduced this day— Professor Ware of Cambridge also visited us.

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