Speech of Mr. Benton, of Missouri, on the Bill to Separate the Government from the Banks

The debate in Congress over The Independent Treasury Bill was underway, and Mr. Benton stood in the Senate on Wednesday, March 14, 1838, to present the Speech of Mr. Benton, of Missouri, on the Bill to Separate the Government from the Banks. The divorce of government from the banks was an issue which Benton was a staunch supporter of, and which created much discord between the political parties. After the presidential election of 1824, Benton and Jackson put their personal differences behind them and joined forces. Benton became the senatorial leader for the Democratic Party and argued vigorously against the Bank of the United States. Jackson was censured by the Senate in 1834 for canceling the Bank's charter. Benton was an unflagging advocate for "hard money", that is gold coin (specie) or bullion as money—as opposed to paper money "backed" by gold as in a "gold standard". "Soft" (i.e. paper or credit) currency, in his opinion, favored rich urban Easterners at the expense of the small farmers and tradespeople of the West. He proposed a law requiring payment for federal land in hard currency only, which was defeated in Congress but later enshrined in an executive order, the Specie Circular, by Jackson (1836). His position on currency earned him the nickname Old Bullion.

The speech is contained in a booklet, without covers, that measures approximately 5 ¾ x 9 inches. The booklet has 24 pages of double column text. The pages are slightly tanned with occasional light foxing. The text, although in a small font size, is clear and easily read. The booklet is in good condition.

The illustrations accompanying this description show the first page of text and a typical 2-page spread of text from later in the booklet.

Thomas Hart Benton (March 14, 1782 – April 10, 1858), nicknamed "Old Bullion", was a U.S. Senator from Missouri and a staunch advocate of westward expansion of the United States. He served in the Senate from 1821 to 1851, becoming the first member of that body to serve five terms. Benton was an architect and champion of westward expansion by the United States, a cause that became known as Manifest Destiny.