Westward extension, 1841-1850, by George Pierce Garrison.

62

WESTWARD EXTENSION

[I84I

for such an agreement in one of the rejected amendments to the bill, which had provided for subordinate "agencies" in the states which should be allowed to deal in exchange and to exercise certain
other banking functions, and which might be convertible into offices of discount and deposit where
the states did not expressly dissent.' This provision was so modified by the president as to make
the establishment of such branches dependent on
state consent, and to withhold from them the privilege of discount.
The Whigs held a caucus and decided to use as
the foundation of a new bill one already on the
House docket, which had been reported from the
special committee on the currency. The caucus
appointed Senator Berrien and Congressman Sergeant to see the president and endeavor to conform
the bill to his views as reported by Stuart. How
far the effort was honestly made remains uncertain;
it seems to have gone no further than to meet his
objection to local discounts, leaving out of account
the more weighty question of constitutionality.
Webster and Ewing were appointed by the president to confer with Berrien and Sergeant; and a
cabinet meeting was held, August i8, 1841, to discuss
the matter. Finally, on the i9th, the subject was
taken up in the House; and a bill embodying what
was claimed to be an agreement that had been
reached was introduced as a substitute for the
Tyler, Tylers, II., 76-79.