Chapter 38

SEWARD ELECTED GOVERNOR

1836-1838

The overwhelming defeat of the Whigs, in 1836, left a single rift in the dark cloud through which gleamed a ray of substantial hope. It was plain to the most cautious business man that if banking had been highly remunerative, with the United States Bank controlling government deposits, it must become more productive after Jackson had transferred these deposits to state institutions; and what was plain to the conservative banker, was equally patent to the reckless speculator. The legislatures of 1834 and 1835, therefore, became noted as well as notorious for the large number of bank charters granted. As the months passed, increased demands for liberal loans created an increasing demand for additional banks, and the greater the demand the greater the strife for charters. Under the restraining law of the State, abundant provision had been made for a fair distribution of bank stocks; but the dominant party, quick to take an advantage helpful to its friends, carefully selected commissioners who would distribute it only among their political followers. At first it went to merchants or capitalists in the locality of the bank; but gradually, Albany politicians began to participate, and then, prominent state officers, judges, legislators and their relatives and confidential friends, many of whom resold the stock at a premium of twenty to twenty-five per cent. before the first payment had been made. Thus, the distribution of stock became a public scandal, deplored in the messages of the Governor and assailed by the press. "The unclean drippings of venal legislation," the New York _Evening Post_ called it. But no remedy was applied. The Governor, in spite of his regrets, signed every charter the Legislature granted, and the commissioners, as if ignorant of the provisions to secure a fair distribution of the stock, continued to evade the law with boldness and great facility.

Members of the Democratic party in New York City, who believed that banking, like any other business, ought to be open to competition, had organised an equal rights party in 1834 to oppose all monopolies, and the bank restraining law in particular. Several meetings were held during the summer. Finally, in October, both factions of Tammany Hall attempted forcibly to control its proceedings, and, in the contest, the lights were extinguished. The Equal Righters promptly relighted them with loco-foco or friction matches and continued the meeting. From this circumstance they were called Locofocos, a name which the Whigs soon applied to the whole Democratic party.

The Equal Rights party was not long-lived. Two years spanned its activity, and four or five thousand votes measured its strength; but, while it lasted, it was earnest and the exponent of good principles. In 1836, these people held a state convention at Utica, issued a declaration of principles, and nominated a state and congressional ticket. In New York City, the centre of their activity, Frederick A. Tallmadge was put up for state senator and Edward Curtis for Congress, two reputable Whigs; and, to aid them, the Whig party fused successfully with the Equal Righters, electing their whole ticket. This victory was the one ray of hope that came to the Whigs out of the contest of 1836. It proved that some people were uneasy and resentful.

But other Whig victories were soon to follow. Reference has already been made to the unprecedented prosperity that characterised the year 1836. This era of expansion and speculative enterprises, which began with the transfer of government deposits, continued at high pressure under the influence of the newly chartered banks. With such a money plethora, schemes and projects expanded and inflated, until success seemed to turn the heads of the whole population. So wild was the passion for new enterprises, that one had only to announce a scheme to find people ready to take shares in it. Two per cent. a month did not deter borrowers who expected to make one hundred per cent. before the end of the year. In vain did the Governor inveigh against this "unregulated spirit of speculation." As the year advanced, men grew more reckless, until stocks and shares were quickly purchased at any price without the slightest care as to the risk taken.

The beginning of the end of this epoch of insane speculation was felt, early in the spring of 1837, by a money pressure of unexampled severity. Scarcely had its effect reached the interior counties, before every bank in the country suspended specie payments. Then confidence gave way, and tens of thousands of people, who had been wealthy or in comfortable circumstances, waked up to the awful realisation of their bankruptcy and ruin. The panic of 1837 reached the proportions of a national calamity. Most men did not then know the reason for the crash, and the knowledge of those who did, brought little comfort. But, gradually, the country recognised that the prosperity of a nation is not increased in proportion to the quantity of paper money issued, unless such currency be maintained at its full value, convertible, at pleasure, into hard cash--the money standard of the world.

It so happened that the Legislature had not adjourned when the crash came, and, without a moment's delay, it suspended for one year the section of the Safety Fund act forbidding banks to issue notes after refusing to pay them in coin on demand; but it refused to suspend the act, passed in March, 1835, prohibiting the issue or circulation of bills under the denomination of five dollars. This left the people without small bills, and, as New York banks dared not issue them, necessity forced into circulation foreign bills, issued by solvent and insolvent banks, the losses from which fell largely upon the poorer classes who could not discriminate between the genuine and the spurious. So great was the inconvenience and loss suffered by the continuance of this act, that the people petitioned the Governor to call an extra session of the Legislature for its repeal; but Marcy declined, for the reason that the Legislature had already refused to give the banks the desired authority. Thus, the citizens of New York, staggering under a panic common to the whole country, were compelled to suffer the additional hardships of an irredeemable, and, for the most part, worthless currency, known as "shin-plasters."

In the midst of these "hard times," occurred the election in November, 1837. The New York municipal election, held in the preceding spring and resulting, with the help of the Equal Righters, in the choice of a Whig mayor, had prepared the way for a surprise; yet no one imagined that a political revolution was imminent. But the suffering people were angry, and, like a whirlwind, the Whigs swept nearly every county in the State. Of one hundred and twenty-eight assemblymen, they elected one hundred and one, and six of the eight senators. It happened, too, that as the triennial election of sheriffs and clerks occurred this year, the choice of these officers swelled the triumph into a victory that made it the harder to overthrow. In a moment, the election of 1837 had given the Whigs a powerful leverage in local contests, enabling them to build up a party that could be disciplined as well as organised. To add to their strength, the Legislature, when it convened, in January, 1838, proceeded to take the "spoils." Luther Bradish was chosen speaker, Orville L. Holley surveyor-general, and Gamaliel L. Barstow state treasurer. It also suspended for two years the act prohibiting banks from issuing small bills, passed a general banking law, and almost unanimously voted four millions for enlarging the Erie canal.

Although the spring elections of 1838 showed a decided falling off in the Whig vote, hopes of carrying the State in November were so well founded that Whig candidates for governor appeared in plenty. Looking back upon the contest from a distance, especially with the present knowledge of his superlative fitness for high place, it seems strange that William H. Seward should not have had an open way in the convention. But Francis Granger had also won the admiration of his party by twice leading a forlorn hope. Amidst crushing defeat he had never shown weariness, and his happy disposition kept him in friendly touch with his party. The Chenango people were especially ardent in his support. Twice he had forced their canal project through a hostile Assembly, and they did not forget that, in the hour of triumph, Seward opposed it. Besides, Granger had distinguished himself in Congress, resisting the policy of Jackson and Van Buren with forceful argument and ready tact. He was certainly a man to be proud of, and his admirers insisted with great pertinacity that he should now be the nominee for governor.

There was another formidable candidate in the field. Luther Bradish had proved an unusually able speaker, courteous in deportment, and firm and resolute in his rulings at a time of considerable political excitement. He had entered the Assembly from Franklin in 1828, and, having early embraced anti-Masonry with Weed, Granger, and Seward, was, with them, a leader in the organisation of the Whig party. The northern counties insisted that his freedom from party controversies made him peculiarly available, and, while the supporters of other candidates were quarrelling, it was their intention, if possible, to nominate him. Seward and Granger were eager for the nomination, but neither seems to have encouraged the ill-will which their followers exhibited. Indeed, Seward evidenced a disposition to withdraw; and he would doubtless have done so, had not his friends, and those of Granger, thought it better to let a convention decide. As the campaign grew older, the canvass proceeded with asperity. Granger's adherents accused Seward of an unjust conspiracy to destroy him, and of having canvassed the State, personally or by agents, to secure the prize even at the cost of a party division. They charged him with oppressing the settlers in Chautauqua, with editing the Albany _Journal_, with regulating the Bank of the United States, and controlling the movements of Henry Clay. "I am already so wearied of it," Seward wrote, "that, if left to myself, I should withdraw instantly and forever. I am ill-fitted for competition with brethren and friends. But with a clear conscience and greater magnanimity than there is manifested toward me, I shall go safely through all this storm."[291]

[Footnote 291: F.W. Seward, _Life of W.H. Seward_, Vol. 1, p. 366.]

The confidence disclosed in the closing sentence was due largely to his confidence in Thurlow Weed. The editor of the Albany _Journal_ seriously desired to take no part in the choice of delegates, since his personal and political relations with all the candidates were intimate and confidential; but he had known Granger longer than the others, and, if controlled by personal friendship, he must have favoured the Ontario candidate. Weed, however, believed that Seward's nomination would awaken greater enthusiasm, especially among young men, thus giving the ticket its best chance of success. At the last moment, therefore, he declared in favour of the Auburn statesman.

The sequel showed that his help came none too soon. Four informal ballots were taken, and, on the following day the formal and final one. The first gave Seward 52, Granger 39, and Bradish 29, with 4 for Edwards of New York. This was supposed to be Granger's limit. On the second ballot, Bradish's friends transferred thirteen votes to him, making Seward 60, Granger 52, Bradish 10, and Edwards 3. If this was a surprise to the friends of Seward, the third ballot was a tremendous shock, for Seward fell off to 59, and Granger got 60. Bradish had 8. Then Weed went to work. Though he had understood that Granger, except in a few counties, had little strength, the last ballot plainly showed him to be the popular candidate; and during an intermission between the third and fourth ballots, the _Journal's_ editor exhibited an influence few men in the State have ever exercised. The convention was made up of the strongest and most independent men in the party. Nearly all had held seats in the state or national legislature, or had occupied other important office. Experience had taught them to act upon their own convictions. The delegates interested in the Chenango Valley canal were especially obstinate and formidable. "Weed," said one of them, "tell me to do anything else; tell me to jump out of the window and break my neck, and I will do it to oblige you; but don't ask me to desert Granger!"[292] Yet the quiet, good-natured Weed, his hand softly purring the knee of his listener as he talked--never excited, never vehement, but sympathetic, logical, prophetic--had his way. The fourth ballot gave Seward 67, Granger 48, Bradish 8. The work was done. When the convention reassembled the next morning, on motion of a warm supporter of Granger, the nomination was made unanimous, and Bradish was named for lieutenant-governor by acclamation.

[Footnote 292: F.W. Seward, _Life of W.H. Seward_, Vol. 1, p. 373.]

Much disappointment was exhibited by Granger's friends, especially the old anti-Mason farmers who were inclined to reproach Weed with disloyalty. Granger himself stoically accepted defeat and zealously supported the ticket. He had said to a departing delegate, "if either Mr. Seward or Mr. Bradish attain a majority at the informal ballot, my friends must give the successful competitor their united support."[293] How heartily Seward would have responded under like circumstances is evidenced by his action when a premature report went forth of Granger's selection. Being informed of it, Seward at once told his friends that Auburn must be the first to ratify, and immediately set to work preparing resolutions for the meeting.

[Footnote 293: _Ibid._, p. 374.]

Thurlow Weed was pre-eminently a practical politician. He believed in taking advantage of every opportunity to strengthen his own party and weaken the adversary, and he troubled himself little about the means employed. He preferred to continue the want of small bills for another year rather than allow the opposite party to benefit by a repeal of the obnoxious law; he approved Van Buren's course in the infamous Fellows-Allen controversy; and, had he been governor in place of John Jay in 1800, the existing Legislature would undoubtedly have been reconvened in extra session, and presidential electors chosen favourable to his own party, as Hamilton wanted. But, at the bottom of his nature, there was bed-rock principle from which no pressure could swerve him. He could exclaim with Emerson, "I will say those things which I have meditated for their own sake and not for the first time with a view to that occasion." In these words is the secret of his relation to the Whig party. He asked no office, and he gave only the ripe fruit of his meditative life. It is not to be supposed that, in 1838, he saw in the young man at Auburn the astute United States Senator of the fifties; or the still greater secretary of state of the Civil War; but he had seen enough of Seward to discern the qualities of mind and heart that lifted him onto heights which extended his horizon beyond that of most men, enabling him to keep his bearing in the midst of great excitement, and, finally, in the presence of war itself. Seward saw fewer things, perhaps, than the more active and eloquent Granger, but Weed knew that he saw more deeply.[294]

[Footnote 294: "Apart from politics, I liked Seward, though not blind to his faults. His natural instincts were humane and progressive. He hated slavery and all its belongings, though a seeming necessity constrained him to write, in 1838, to this intensely pro-slavery city, a pro-slavery letter, which was at war with his real, or at least with his subsequent convictions. Though of Democratic parentage, he had been an Adams man, an anti-Mason, and was now thoroughly a Whig. The policy of more extensive and vigorous internal improvement had no more zealous champion. By nature, genial and averse to pomp, ceremony, and formality, few public men of his early prime were better calculated to attract and fascinate young men of his own party, and holding views accordant on most points with his.... Weed was of coarser mould and fibre than Seward--tall, robust, dark-featured, shrewd, resolute, and not over-scrupulous--keen-sighted, though not far-seeing."--Horace Greeley, _Recollections of a Busy Life_, pp. 311, 312.]

The Democratic state convention assembled at Herkimer on September 12, and unanimously renominated William L. Marcy and John Tracy. Marcy had made an able governor for three consecutive terms. His declaration that "to the victors belong the spoils" had not impaired his influence, since all parties practised, if they did not preach it; and, although he stultified himself by practically recommending and finally approving the construction of the Chenango canal, which he bitterly opposed as comptroller, he had lost no friends. Canal building was in accord with the spirit of the times. A year later, he had recommended an enlargement of the Erie canal; but when he discovered that the Chenango project would cost two millions instead of one, and the Erie enlargement twelve millions instead of six, he protested against further improvements until the Legislature provided means for paying interest on the money already borrowed. He clearly saw that the "unregulated spirit of speculation" would lead to ruin; and, to counteract it, he appealed to the Legislature, seeking to influence the distribution of bank stock along lines set forth in the law. But Marcy failed to enforce his precepts with the veto. In refusing, also, to reassemble the Legislature, for the repeal of the Small Bills act, the passage of which he had recommended in 1835, he gave the _Evening Post_ opportunity to assail him as "a weak, cringing, indecisive man, the mere tool of a monopoly junto--their convenient instrument."

Marcy held office under difficult conditions. The panic, coming in the summer of 1837, was enough to shatter the nerves of any executive; but, to the panic, was now added the Canadian rebellion which occurred in the autumn of 1837. Though not much of a rebellion, William L. McKenzie's appeal for aid to the friends of liberty aroused hundreds of sympathetic Americans living along the border. Navy Island, above the Falls of Niagara, was made the headquarters of a provisional government, from which McKenzie issued a proclamation offering a reward for the capture of the governor-general of Canada and promising three hundred acres of land to each recruit.

The Canadian authorities effectually guarded the border, and destroyed the _Caroline_, presumably an insurgent steamer, lying at Schlosser's dock on the American side. In the conflict, one member of the crew was killed, and several wounded. The steamer proved to be an American vessel, owned by New York parties, and its destruction greatly increased the indignation against Canada; but Governor Marcy did not hesitate to call upon the people to refrain from unlawful acts within the territory of the United States; and, to enforce his proclamation, supplied General Scott, now in command of the Canadian frontier, with a force of militia. The American troops quickly forced the abandonment of Navy Island, scattered the insurgents and their allies to secret retreats, and broke up the guerrilla warfare. The loss of life among the patriots, due to their audacity and incompetent leadership, was considerable, and the treatment of prisoners harsh and in some instances inhuman. Many young men of intelligence and character were banished for life to Van Dieman's Land, McKenzie was thrown into a Canadian dungeon, and, among others, Van Schoulty, a brave young officer and refugee from Poland, who led an unsuccessful attack upon Prescott, was executed. Small as was the uprising, it created an intense dislike of Marcy among the friends of those who participated in it.

Still another political splinter was festering in Marcy's side. Several leading Democrats, who had sustained Jackson in his war upon the United States Bank, and in his removal of the deposits, refused to adopt Van Buren's sub-treasury scheme, proposed to the extra session of Congress, convened in September, 1837. This measure meant the disuse of banks as fiscal agents of the government, and the collection, safekeeping, and disbursement of public moneys by treasury officials. The banks, of course, opposed it; and thousands who had shouted, "Down with the United States Bank," changed their cry to "Down with Van Buren and the sub-treasury scheme." Among those opposing it, in New York, Nathaniel P. Tallmadge, a Democratic United States senator, took the lead, calling a state convention to meet at Syracuse. This convention immediately burned its bridges. It denounced Van Buren, it opposed Marcy, and it indorsed Seward. Behind it were bank officers and stockholders who were to lose the privilege of loaning the money of the United States for their own benefit, and the harder it struck them the more liberally they paid for fireworks and for shouters.

If trouble confronted the Democrats, discouragement oppressed the Whigs. Under the direction of Gerrit Smith the Abolitionists were on the war-path, questioning Seward as to the propriety of granting fugitive slaves a fair trial by jury, of abolishing distinctions in constitutional rights founded solely on complexion, and of repealing the law authorising the importation of slaves into the State and their detention as such during a period of nine months. Seward avowed his firm faith in trial by jury and his opposition to all "human bondage," but he declined making ante-election pledges. He preferred to wait, he said, until each case came before him for decision. Seward undoubtedly took the wise course; but he did not satisfy the extremists represented by Smith, and many of the Whig leaders became panic-stricken. "The Philistines are upon us," wrote Millard Fillmore, who was canvassing the State. "I now regard all as lost irrevocably. We shall never be able to burst the withes. Thank God, I can endure it as long as they, but I am sick of our Whig party. It can never be in the ascendant."[295]

[Footnote 295: Thurlow Weed Barnes, _Life of Thurlow Weed_, Vol. 2, p. 60.]

Francis Granger was no less alarmed. He estimated the Abolitionist vote at twenty thousand, "and before the grand contest of 1840," he wrote Weed, "they will control one-fourth the votes of the State. They are engaged in it with the same honest purpose that governed the great mass of Anti-Masons."[296] The young candidate at Auburn was also in despair. "I fear the State is lost," he wrote Weed on November 4. "This conclusion was forced upon me strongly by news from the southern tier of counties, and is confirmed by an analogy in Ohio. But I will not stop to reason on the causes. Your own sagacity has doubtless often considered them earlier and more forcibly than mine."[297]

[Footnote 296: _Ibid._, p. 61.]

[Footnote 297: F.W. Seward, _Life of W.H. Seward_, Vol. 1, p. 61.]

But Horace Greeley did not share these gloomy forebodings. He was then engaged in editing the _Jeffersonian_, a weekly journal of eight pages, which had been established in February solely as a campaign newspaper. His regular business was the publication of the _New Yorker_, a journal of literature and general intelligence. During the campaign he consented to spend two days of each week at Albany making up the _Jeffersonian_, which was issued from the office of the _Evening Journal_, and he was doing this work with the indefatigable industry and marvellous ability that marked his character.

Greeley had battled for a place in the world after the manner of Thurlow Weed. He was born on a New Hampshire farm, he had worked on a Vermont farm, and for a time it seemed to him as if he must forever remain on a farm; but after a few winters of schooling he started over the Vermont hills to learn the printer's trade. A boy was not needed in Whitehall, and he pushed on to Poultney. There he found work for four years until the _Northern Spectator_ expired. Then he went back to the farm. But newspaper life in a small town had made him ambitious to try his fortunes in a city, and, journeying from one printing office to another, he finally drifted, in 1831, at the age of twenty, into New York.

Up to this time Greeley's life had resembled Weed's only in his voracious appetite for reading newspapers. He cared little for the boys about town and less for the sports of youth; he could dispense with sleep, and wasted no time thinking about what he should eat or wear; but books, and especially newspapers, were read with the avidity that a well-fed threshing machine devours a stack of wheat. He seemed to have only one ambition--the acquisition of knowledge and the career of a man of letters, and in his efforts to succeed, he ignored forms and social usages, forgot that he had a physical body to care for, and detested man-worship. Standing at last before a printer's case on Broadway, he was able to watch, almost from the beginning, the great political drama in which he was destined to play so great a part. Seward had just entered the State Senate; Weed, having recently established the _Evening Journal_, was massing the Anti-Masons and National Republicans for their last campaign; William Lloyd Garrison had issued the first number of the _Liberator_; Gerrit Smith, already in possession of his father's vast estate, still clung to the Liberian colonisation scheme; and Van Buren, not yet returned from England, was about entering upon the last stage of his phenomenally successful political career. Politicians for the first time disturbed about the tariff, the bank, and internal improvements, had come to the parting of the ways; the old order of things had ended under John Quincy Adams--the new had just commenced under Andrew Jackson. But the young compositor needed no guide-post to direct his political footsteps. In 1834, he had established the _New Yorker_ and those who read it became Whigs. His mind acted upon other minds of a certain constitution with wonderful magnetism, attracting thousands of readers by his marvellous gift of expression and the broad sympathies and clear discernments that characterised his writings. He had his own ideas about the necessity for reforms, and he seems easily to have fallen a victim to countless delusions and illusions which young visionaries and gray-headed theorists brought to him; but, in spite of remonstrances and crushing opposition, he stood resolutely for whatever awoke the strongest emotions of his nature.

Thurlow Weed had been a constant reader of the _New Yorker_. He did not know the name of its editor and had never taken the trouble to inquire, but when a cheap weekly Whig newspaper was needed for a vigorous campaign in 1838, the editor of the _New Yorker_, whoever he might be, seemed the proper man to edit and manage it. Going to New York, he called at the Ann Street office and found himself in the presence of a young man, slender, light-haired, slightly stooping, and very near-sighted, who introduced himself as Horace Greeley. At the moment, he was standing at the case, with coat off and sleeves rolled up, setting type with the ease and rapidity of an expert. "When I informed him of the object of my visit," says Weed, "he was, of course, surprised, but evidently gratified. Nor was his surprise and gratification diminished to learn that I was drawn to him without any other reason or information but such as I had derived from the columns of the _New Yorker_. He suggested the _Jeffersonian_ as the name for the new paper, and the first number appeared in February, 1838."[298]

[Footnote 298: _Autobiography of Thurlow Weed_, p. 466.]

It is one of the privileges of genius to discern the genius of others; but even Thurlow Weed could not have dreamed that he was giving opportunity to a man whose name was to rank higher than his own in history. There was a certain affinity between the intellectual nature of the two men, and they had now a common object. Both were journalists of tremendous energy, indomitable industry, and marvellous gifts; but Weed was a politician, Greeley a political preacher. Weed's influence lay in his remarkable judgment, his genius for diplomacy, and his rare gift of controlling individuals by personal appeal and by the overpowering mastery of his intellect; Greeley's supremacy grew out of his broad sympathies with the human race and his matchless ability to write. Weed's field of operations was confined largely to the State of New York and to delegates and men of influence who assemble at national conventions; Greeley preached to the whole country, sweeping along like a prairie fire and converting men to his views as easily as steel filings are attracted to the magnet. From the outset he was above dictation. He lacked judgment, and at times greatly grieved the friends who were willing to follow him through fire and flood; but once his mind was made up he surrendered his understanding, his consciousness of convictions, of duty, and of public good, to no man or set of men. "I trust we can never be enemies," he once wrote Weed, "but better anything than I should feel the weight of chains about my neck, that I should write and act with an eye to any man's pleasure, rather than to the highest good."[299]

[Footnote 299: Thurlow Weed Barnes, _Life of Thurlow Weed_, Vol. 2, p. 97.]

As the editor of the _Jeffersonian_, which now quickly won a multitude of readers, he did his work with marked ability, discussing measures calmly and forcibly, and with an influence that baffled his opponents and surprised his friends. Greeley seems never to have been an immature writer. His felicity of expression and ability to shade thought, with a power of appeal and invective that belongs to experience and mature age, came to him, as they did to Hamilton, before he was out of his teens, and whether he was right or whether he was wrong, he was always the most interesting, always the most commanding figure in American journalism in the epoch-making political controversies of his day.

The Whigs thought it a happy omen that election day, November 7, came this year on the anniversary of General Harrison's victory at Tippecanoe. As the returns came in Seward's friends grew more elated, and on Saturday, the 11th, Weed covered the entire first page of the _Evening Journal_ with the picture of an eagle, having outspread wings and bearing in its beak the word "Victory." It was the first appearance in politics of this American bird, which was destined to play a part in all future celebrations of the kind. The completed returns showed that the Whigs had elected Seward and Bradish by ten thousand four hundred and twenty-one majority,[300] five of the eight senators, and nearly two-thirds of the assemblymen. "Well, dear Seward," wrote Weed, "we are victorious; God be thanked--gratefully and devoutly thanked."[301] Seward was no less affected. "It is a fearful post I have coveted," he wrote; "I shudder at my temerity.... Indeed, I feel just now as if your zeal had been blind; but I may, perhaps, get over this. God grant, at all events, that I be spared from committing the sin of ingratitude. I hate it as the foulest in the catalogue."[302]

[Footnote 300: William H. Seward, 192,882; William L. Marcy, 182,461.--_Civil List, State of New York_ (1887), p. 166.]

[Footnote 301: F.W. Seward, _Life of W.H. Seward_, Vol. 1, p. 379.]

[Footnote 302: Thurlow Weed Barnes, _Life of Thurlow Weed_, Vol. 2, p. 61.]

Marcy seemed to accept his defeat good-naturedly. "Even before the ballot-boxes were closed," he wrote, facetiously, "I had partly persuaded myself to engage in a work for _my_ posterity, by writing the history of the rise, progress, and termination of the Regency. It will embrace the transactions of the golden days of the Republic (Empire State). It began with my entrance into public life, and terminates with my exit from it. The figures in the tableau will not be of the largest size, but the ascendancy of honest men, for such I think them to have been (_Ilium fuit_), will be interesting on account of great rarity." But, to the same friend, a few weeks later, he took a desponding view, expressing the fear that the power which had passed from the Democratic party would not return to as honest hands. His financial condition, too, caused him much uneasiness. He had given eighteen years to the State, he said, the largest portion of an active and vigorous life, and now found himself poorer than when he took office. "If my acquisitions in a pecuniary way have probably been less and my labours and exertions greater," he asks, "what compensating advantages are to be brought into the calculation to balance the account?" An office-holder rarely asks such a question until thrown out of a position; while in office, it is evident he thinks the privilege of holding it sufficient compensation; otherwise, it may be presumed, he would resign. Marcy, however, was not forgotten. Indeed, his political career had scarcely begun, since the governorship became only a stepping-stone to continued honours. Within a few months, President Van Buren appointed him, under the convention of April, 1839, to the Mexican Claims Commission, and a few years later he was to become a member of two Cabinets.