WILLIAM HENRY HARRISON. ICI 



declared. New York, Philadelphia, Boston, Baltimore, Albany, 

 and many others followed suit. The banks ceased their pay- 

 ments in specie. Even the mammoth bank of the United 

 States bent to the fierce tempest and imitated the example of 

 the rest. One sentiment pervaded all classes: the anticipation 

 of universal ruin, and individual beggary. All works were 

 stopped. A Bill was passed suspending the payment of the 

 fourth installation of the surplus revenue to the States until 

 the 1st day of January, 1839. Bills were passed authorising the 

 issue of treasury notes, for the extension of the payment of 

 revenue bonds for a short period, authorising the warehousing 

 in bond of imported goods for a term of three years, organ- 

 ising a sub-treasury system, whereby the nation should 

 become its own banker, but this last Bill w T as postponed. 



When the Congress re-assembled on the 4th of December, 

 the Sub-Treasury Bill was ultimately rejected in 1838. During 

 this year the banks generally resumed specie in payments, the 

 effects of the commercial catastrophe were rapidly subsiding, 

 and the harvest was abundant. 



A convention for fixing the boundaries of the United 

 States and Texas was concluded at Washington, on the 25th 

 of April. Great dismay was created in the commercial 

 world towards the close of the year by the suspension of 

 specie payments on the part of all the principal banks. 



Negotiations were opened respecting the boundaries of 

 the United States and the British provinces. 



The first Transatlantic trip was done in 1832, by an 

 American steamer. 



In November, the time of the election of a new President 

 being arrived, William Henry Harrison was elected to the 

 post, and John Tyler, of Virginia, as Vice-President. 



WILLIAM HENRY HARRISON, 1841. 



William Henry Harrison, the ninth President of the 

 United States, entered on duty in March, 1841 ; but his 

 inaugural address was the only act of his administration, 

 having died on the 4th of April, within one month of his 

 inauguration. He was the first President who died in office. 



General Harrison was in the sixty-ninth year of his age. 



The funeral took place on the 7th of April. The order 

 of the ceremony was very imposing ; the procession extended 

 over two miles, and was the longest ever witnessed in 

 Washington. A sentiment of the profoundest grief pervaded 



