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John Tyler autograph letter signed from 1834 as U.S. Senator from Virginia and Finance Committee member, with content regarding the Bank of the United States during the ''Bank War''. A strong supporter of state banks, Tyler here attempts to collect financial information from a Richmond businessman, taking an empirical approach to his analysis of the issue. At this time in 1834, the U.S. Bank was approaching its 20-year recharter in 1836, an issue which defined the 1832 Presidential campaign. Although Tyler opposed the Bank's recharter, he also opposed President Andrew Jackson's attempt to completely undermine it by removing the Bank's federal deposits and allocating them to state banks, which was widely criticized as an abuse of Presidential power. In the end, the U.S. Bank would ultimately not be rechartered, with some blaming the resulting decentralization leading to the Panic of 1837. Datelined Richmond, 8 August 1834, letter reads in part,
''Sir: As a member of the Committee on Finance charged with certain duties during the recess of the Senate I beg permission to submit to you the following inquiries and respectfully to solicit answers. I address myself to you because of my knowledge of your intimate connection with the mercantile pursuits and interests of Richmond, and from a belief that you will readily oblige me by giving the information which I seek to obtain.''
He continues, ''1. What is the circulating money of your community - how much paper and how much or how little coin - what denominations of coin - so far as the circulation is made up of paper state from what Banks the paper emanates. Does it circulate at par with gold and silver - if below say at what discount.
2. What is the general course of trade and what is the course of exchange. How are remittances made, and at what rates are bills bought and sold on the great cities.
3. How have the rates of exchange been affected by recent measures of gov't and how are they likely to be affected by the expiration of the Bank charter.
4. Be pleasd also to state the effect produced on the course of trade in general and the general state of business, and what is the present condition of trade and business.
5. What is the effect of the late laws in regard to the introduction of gold coin into circulation.
I should be obliged to you for any other information connected with the state of things in Richmond indicating the effect produced by the recent measures of govt whether connected with the value of its real estate its manufactures or commerce which may occur to you. I also desire to know whether the Bank of the U. States has resorted to any course of measures from a spirit of hostility to the state Bankers or the reverse - and whether it has in any manner, to your knowledge, interferd in elections within your City, or in any county contiguous thereto, for the purpose of controlling them. / I have the honor to be Dr Sir / Yr Most Obt Servt / John Tyler''.
Letter runs two pages on bifolium measuring 8'' x 10'', with integral leaf addressed in Tyler's hand to Charles Ellis, Esq. of Richmond. Small holes at intersecting folds, else near fine with exceptionally bold handwriting and signature.
John Tyler Autograph Letter Signed Regarding the Bank War in 1834 -- ''…whether the Bank of the U. States has resorted to any course of measures from a spirit of hostility to the state Bankers…''
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