Washington, D.C. May 23, 1842. pp. Quarto. Very good. In a green cloth chemise. Item #WRCAM42852
Reading in part:
"In regard to Mr. Tyler's measures of nomination; I feel every disposition to support both when I can do so without a violation of principle; but I cannot approve his Exchequer project. Indeed it has but few, - very few friends in either party. As it was originally presented by the Secretary of the Treasury (Walter Forward), I considered it more dangerous if possible than a National Bank....Nothing has yet authentically transpired of the character of Lord Ashburton's negotiations. He is very pacific in his conversation; I have no doubt he sincerely desires to preserve the peace between the two countries, but we cannot yet form any decided opinion at what may be the results....One of the greatest evils under our system is the unreasonable length of the sessions of Congress. We have now been in session nearly six months and the House have not yet begun to consider the tariff question...."
Tyler's Exchequer Project was a plan presented to Congress in December 1841, which envisioned a public banking institution directed by a non-partisan Board of Control. "Lord Ashburton's negotiations," conducted with Daniel Webster, had adopted a compromise northern boundary of Maine.