AND THE WHIG COALITION 343 



as hostile to free speech, gave a distinct moral advan- 

 tage to the Abolitionists. The spirit of slavery, how- 

 ever, was true to its own barbarous instincts when it 

 rejected this prudent counsel. 



In the spring of 1838 Mr. Tyler was returned to 

 the Virginia legislature, and in the following winter 

 his friends put him forward for reelection to the United 

 States Senate. In the memorable contest that ensued, 

 in which William Rives was his principal competitor, 

 the result was a complete deadlock, so that the legis- 

 lature adjourned without making a choice. 



Meanwhile the financial crisis of 1837 the most 

 severe that has ever been known in this country had 

 wrecked the administration of President Van Buren. 

 It was believed at the time that this frightful tempest 

 in the commercial world was wholly or chiefly due to 

 Jackson's assaults upon the United States Bank, and 

 this opinion has been so confidently stated as a fact, 

 and so often reiterated, that it has come to be one of 

 the commonplaces of history. Yet, like many other 

 commonplace assertions in history, it is only partially 

 true. The causes of the panic of 1837 lay deeper than 

 any acts of any administration. The seeds of distress 

 had been so plentifully sown that an abundant crop 

 must have been garnered about that time, no matter 

 whether a Whig or a Democrat were occupant of the 

 White House, no matter whether the public funds were 

 deposited in one great bank or in fifty small ones. 

 Since 1820 the increase of the country in wealth and 

 population, and the rapidity of expansion westward, 

 had been wonderful. Tennessee had nearly doubled 

 in population, Ohio had more than doubled, Indiana 

 had more than trebled, Mississippi had increased four- 



