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This desirable result was, it will be seen, greatly promoted by the liberal and confiding provisions of the act of Congress of the last session, by which our ports were upon the reception and annunciation by the President of the required assurance on the part of Great Britain forthwith opened to her vessels before the arrangement could be carried into effect on her part, pursuing in this act of prospective legislation a similar course to that adopted by Great Britain in abolishing, by her act of Parliament in 1825, a restriction then existing and permitting our vessels to clear from the colonies on their return voyages for any foreign country whatever before British vessels had been relieved from the restriction imposed by our law of returning directly from the United States to the colonies, a restriction which she required and expected that we should abolish.
In 1825, when only coin was a legal tender, and when there was only one department in the Bank, the Bank had reduced its reserve to 1,027,000 L., and was within an ace of stopping payment. But the danger to the depositing banks is not the sole or the principal consequence of this mode of keeping the London reserve.
In August, 1825, the aged grandmother met with an accident in stepping on the point of a rusty nail, which shortly afterwards resulted in her death. She was a woman of great piety, and before she died sent for each of her grandchildren to whom she was devoted and besought them to lead a Christian life.
I have not got a million yet, but I am in comfortable circumstances, so to speak. Twenty-five years ago I had not a dollar in the world. I did everything, but could not succeed in anything. In November, 1825, I was absolutely penniless, and one of my comrades, Dick Merton, who was as badly off as myself, made a proposition to me to go to California.
The record of that life expressed in bold stands thus: 1767 Born May Eleventh. 1776 Post-rider between Boston and Quincy. 1778 -At school in Paris. 1780 At school in Leyden. 1781 Private Secretary to Minister to Russia. 1787 -Graduated at Harvard. 1794 Minister at The Hague. 1797 Married Louise Catherine Johnson, of Maryland. 1797 Minister at Berlin. 1802 Member of Massachusetts State Senate. 1803 United States Senator. 1806 Professor of Rhetoric and Oratory at Harvard 1809 Minister to Russia. 1811 Nominated and confirmed by Senate as Judge of Supreme Court of the United States; declined. 1814 Commissioner at Ghent to treat for peace with Great Britain. 1815 Minister to Great Britain. 1817 Secretary of State. 1825 Elected President of the United States. 1830 Elected a Member of Congress, and represented the district for seventeen years. 1848 Stricken with paralysis February Twenty-first in the Capitol, and died the second day after.
On board H.I.M.'s ship Piranga, November 12th, 1825, JA's SHEPHERD. The denial by the Brazilian Administration of the accounts and receipts thus acknowledged by Captain Shepherd, and the absence of any ministerial communication on the subject, forms an unworthy imputation on the memory of a gallant officer, who a short time afterwards nobly died in action in the cause of Brazil.
It appeared, however, after the adjournment that the evidence of such approbation had not been attached to it. Whether the act may be considered in force under such circumstances is a point on which it belongs not to me to decide. To remove all doubt on the subject, I submit to the consideration of Congress the propriety of passing a declaratory act to that effect. WASHINGTON, February 28, 1825.
A vast load had been taken off his mind; the perilous enterprise of the day had been accomplished without loss of life; and his spontaneous act was thankfulness and gratitude. The suspension of the remaining fifteen chains was accomplished without difficulty. The last was raised and fixed on the 9th of July, 1825, when the entire line was completed.
The work was seriously taken up again in 1824 and 1825 by Mr. Huskisson, and in 1842 by Sir Robert Peel. In 1845 the duty was removed from four hundred and thirty articles, partly raw materials, partly manufactures. But the most serious struggle in the movement for free trade was that for the repeal of the corn laws.
The Federalists, from 1801 to 1825, were useful to the country only as an Opposition, just as the present Tory party in England can be only serviceable in its capacity of critic and holdback.
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