ALS signed “H. Clay,” one page, lightly-lined, 8 x 10, July 18, 1841. Letter to Willis Hall Esq. In full: “Thanks, my dear Sir, for the opinion in the McLeod case. We have not yet emerged from our Bank difficulties. Some entertain hopes of a compromise, so as to admit of an efficient bank. Nous verrons [French for “we will see”]. In the Senate we have a majority for a Bankrupt law. It is not so certain in the House.” Clay’s olive green wax seal used to seal this letter was cut from the integral address leaf (no longer present) and affixed onto a blank are–the seal is complete with his monogrammed “HC.” In fine condition, with multiple intersecting folds, and light toning around the seal.
Not only had the nation “not yet emerged from our Bank difficulties,” but things were about to get more complicated. After thanking New York’s attorney general for his opinion in the case of Alexander McLeod, a Canadian accused of killing an American sailor during the Upper Canada Revolt, Clay references “bank difficulties” that, ten days later, lead the US Senate to pass a bill (proposed by Clay) to create a federal bank. President John Tyler, a Democrat opposed to the Whig proposal, vetoed the bill as unconstitutional. On September 9, 1841, a second bill to reestablish a national bank also was vetoed by Tyler as being unconstitutional. Tyler’s Cabinet, except Daniel Webster, resigned in protest. Interesting 19th century fiduciary intrigue! Pre-certified PSA/DNA and RRAuction COA.
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