acquisition of Louisiana, he appointed Mr. Monroe minister plenipotentiary and envoy extraordinary to France, to aid Robert R. Livingston, our resident minister there, in securing that invaluable acquisition. They succeeded. He was subsequently sent to England, then to Spain, and then back to England, in diplomatic capacities.

It was on one of his missions to France that Mr. Monroe brought with him on his return his household furniture, which was subsequently purchased as a portion of that used in the President's mansion, including the supposed gold knives, forks, and spoons, which figured so largely as political capital when Mr. Van Buren was nominated for reëlection, and which have since so mysteriously disappeared.

In 1811 Mr. Monroe was again elected Governor of Virginia, which office he held until appointed by Mr. Madison Secretary of State, on the resignation of Mr. Smith, November 26, 1811. During the absence of General Armstrong, the Secretary of War, he also had charge of the Department of War. He was considered the best business man in Mr. Madison's cabinet. He was nominated by a caucus of Democratic members over Governor Tompkins, in 1816, for the presidency, running with the latter as VicePresident, receiving 183 votes over Rufus King, the Federal candidate, who obtained only 34, being those of Massachusetts, Vermont, and Delaware. Both were reëlected in 1820, Mr. Monroe receiving every electoral vote but one, out of the 9 in New Hampshire, and Tompkins all but 8 in Massachusetts.

We shall speak of his administration and events occurring during it in another place. Mr. Monroe died in New York in 1831, and, like Adams and Jefferson, on the 4th of July, our national jubilee.

53. THE ERA OF GOOD FEELING.

From the election of Mr. Jefferson to the close of Mr. Madison's administration, the contest between the anti-Democratic party and the Democracy, each in support of its principles, had been carried on with unyielding vigor. Superior talent had been called into activity on each side. The names Federalist and Republican

were unmeaning, temporary designations, applied to parties representing great and enduring principles. All were Federalists, all were Republicans. The contest related to the supremacy of principles which should control the action of Government-whether the people should rule, or be ruled-whether man should be protected in the pursuit of happiness, or forced to travel a road assumed to be best by others, whenever they had the power to dictate. Every point of controversy, when traced to its true original source, will be found concentrated here. The controversy had been long and obstinate, often productive of great violence and bitterness of feeling. The Federalists secured the aid of foreign sympathy and that of men who had dedicated their lives to the service of God, and were selected as teachers to point out the paths leading to heaven and eternal happiness. They used the name of religion in promoting the objects of politicians. Instead of charity and brotherly love, they preached death and destruction to Democrats. It is true they loved their enemies, because they loved Great Britain, but they preached hatred toward their own countrymen, often their own flesh and blood, where they did not fall down and worship the same political idol. They could see perfection where none existed, and horrid defects where they did not exist. These men, if sincere, were monomaniacs; if otherwise, were hypocrites.

Every obstacle, which human ingenuity could devise, was resorted to by the Federal party to defeat the embargo and nonintercourse measures, and to render the war destructive to our national and individual interests, and to subject us to Great Britain. For the time, England thought the Federalists their friends and willing aiders in our national degradation. She mistook the demonstrations of the noisy for the approving voice of the masses, who were honest, but misled by those professing to represent our heavenJy Father, and the true principles of Government.

The instinctive acts of Federalism had sunk that party below all possible hope of resurrection. The war had ended in New Orleans in the cheering, bright lights of glory; the Administration of Madison had won a renown which time could not affect, and the nation an elevated position, recognized by the world, which could not be questioned. Although too proud formally to admit

our claims of " free trade and sailors' rights," still Great Britain has not since attempted to violate them. The Democracy was triumphant, and the Federalists had no grounds to stand upon when competing for public favor. The rank and file had left their leaders.

It was at this point that the Federalists declared that there existed an "era of good feeling," which should induce among Democrats a forgiveness of past Federal sins, by receiving them into full fellowship, like those who had spent their lives in defending and enforcing Democratic principles. This was acceded to, when the evidence warranted the belief of sincere conviction and repentance, where they were deemed certain and conclusive. But it was apparent to all close observers that the Federal leaders cherished, at heart, the principles for which they had so long and so vigorously contended. Their national organization appeared to be disbanded, but was preserved in States where hopes of future ascendency existed. No opportunity for securing a Federalist in a particular county or district was lost. But all hope of soon controlling the national Government had disappeared. While the record of their party remained, there could be no expectation of their future success, by their own name and the avowal of their principles. Their fate was sealed. A disavowal of their principles and a change of name were necessary to future success. This was readily done, at no distant day, as we shall hereafter show. It was our good fortune to hear the eloquent Elisha Williams, of Columbia County, N. Y., in the last year of his life, pass an affectionate eulogy upon the extinct party and its principles, and feelingly denounce those who had once been proud of them, for an ignominious desertion of them, leaving him alone, in his old age, as the sole representative of both, who had the courage and manliness to openly avow them. The defence of himself, and the rebuke administered to those who had abandoned him, was a most eloquent and happy effort, although it failed to have any effect" upon those against whom it was aimed. The Federalists have never resumed their former name, new ones promising better success. The era of professed good feeling soon ended, and was succeeded by as bitter contests as were ever waged by the old Federal party when it was the strongest.

54. THE MONROE DOCTRINE.

All South, and part of North America, had long been held as Spanish and Portuguese provinces. Before Mr. Monroe became President these provinces rebelled against Spain, and set up governments of their own, which they were able to maintain if they competed with the mother-country alone. To enable them the more easily to control at home and among themselves, several European governments formed a combination, which they christened the "Holy Alliance." This alliance dictated to European governments wherever it dared, and had the power to compel obedience. While those composing it confined their acts to their own countries and to their immediate neighbors, our country neither felt alarm, nor took exception to their acts. It mattered nothing to us if they issued mandates, and others chose to obey. Our Government had no cognizance of the matter, however much it doubted the legitimacy of the whole proceeding. It was their business, But they soon turned their attention to the American Continent. Spain could not regain control over her provinces without help from Europe; and the propriety of extending aid to her soon became a subject of discussion, which our Government feared might ripen into action. These provinces, now republics, had sought to follow our precedent in establishing new governments. They naturally looked to us for countenance, if not for active support. When their governments had assumed regular form, our Government promptly recognized them as belonging to the family of nations. This added to their moral strength. Further, it was neither right nor politic for us to go. The "Holy Alliance" had interposed by force in Spain to determine who should rule there. They might go further, and attempt to dictate in the new South American states. The American feeling was aroused. Mr. Monroe, in his annual message in 1823, spoke for our people. He said:

not ours.

"The late events in Spain and Portugal show that Europe is still unsettled. Of this important fact no stronger proof can be adduced than that the allied powers have thought proper, on a principle satisfactory to themselves, to have interposed by force

in the internal concerns of Spain. To what extent such interposition may be carried, on the same principle, is a question to which all independent powers, whose governments differ from theirs, are interested, even those most remote, and surely none more so than the United States. Our policy in regard to Europe, which was adopted at an early stage of the wars which have so long agitated that quarter of the globe, nevertheless, remains the same, which is, not to interfere in the internal concerns of any of its powers; to consider the government de facto as the legitimate government for us; to cultivate friendly relations with it, and to preserve those relations by a frank, firm, and manly policy; meeting, in all instances, the just claims of every power, and submitting to injuries from none. But in regard to these continents, circumstances are eminently and conspicuously different. It is impossible that the allied powers should extend their political system to any portion of either continent without endangering our peace and happiness; nor can any one believe that our Southern brethren, if left to themselves, would adopt it of their own accord. It is equally impossible, therefore, that we should behold such interposition, in any form, with indifference."

This message and the action in Congress had the effect of preventing the interposition of the "Holy Alliance" in American affairs. The independence of these new states soon became recognized by other governments, and are now flourishing republics, and their people left free to govern themselves and pursue their own happiness in their own way. In Europe this part of the message commanded great attention. Its author and our country challenged high respect. The new states have ever been our fast friends. So important, in the public estimation, were the words we have quoted, that, to the present day, they are known and referred to as "The Monroe Doctrine."

55.-BANKS AND BANKING IN NEW YORK.

Banks of discount and deposit are a great convenience to those engaged in trade and commerce. They enable persons having good business paper to anticipate its payment. The holder sells, and the bank buys it. If the maker is good and performs