Louis McLane

Louis McLane, the second of Jackson’s five Treasury Secretaries, was born in 1786 in Smyrna, Delaware and died in 1857 in Baltimore, Maryland. He was well educated and well heeled in part because his father, a Federalist federal tax collector, was friends with powerful Delaware politician James A. Bayard, in whose law office McLane apprenticed. In addition to practicing law and siring 13 children with his wife Kitty Milligan, McLane served with the Wilmington Artillery Company during the War of 1812, a unit that saw no combat.

After the War, McLane served Delaware in the House of Representatives from 1817 until 1827 and, despite being a Federalist, was named Chairman of the Ways and Means Committee. He also served two years in the Senate before resigning in 1829.

During his time in Washington, McLane became friends with William H. Crawford and Martin Van Buren. The latter affiliations led him into the camp of Andrew Jackson, who he vigorously supported in the 1828 election. Jackson lost Delaware anyway and McLane ended up with the relatively minor post, ambassador to England. After Samuel D. Ingham resigned due to the Eaton Affair, Jackson recalled him and at Van Buren’s urging nominated him for Treasury Secretary. Like Ingham, McLane sought to broker a deal on the Second Bank issue but was rebuffed by attorney general Roger B. Taney, who reminded Jackson of McLane’s Federalist background.

After he vetoed a bill that would have re-chartered the Second Bank, Jackson sought to financially eviscerate the institution by removing the government’s deposits from it. McLane refused to do so and was moved to Secretary of State, a post that he resigned in June 1834 after a bitter dispute with Van Buren. His political career in shambles, McLane moved to the nation’s burgeoning corporate sector, serving first as president of the Morris Canal and Banking Company and then as president of the Baltimore and Ohio Railroad. After a brief reprise as ambassador to England under James Polk, he retired from business in 1848.

Materials

Objects and Images Related to Andrew Jackson

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Jackson Statue, New Orleans Statue of Andrew Jackson, the triumphant warrior, in Jackson Square, New Orleans.

Coffin Handbill Mudslinging 19th century style: The coffin handbills circulated by the J. Q. Adams camp during the 1828 presidential election campaign.

The Hermitage Elevation and plan of Jackson’s plantation mansion outside of Nashville during the final year of his presidency.

Samuel D. Ingham Samuel D. Ingham, Secretary of the Treasury (March 1829 to June 1831)

Louis McLane Louis McLane, Secretary of the Treasury (August 1831 to May 1833)

William J. Duane William J. Duane, Secretary of the Treasury (May to September 1833)

Roger B. Taney Roger B. Taney, Secretary of the Treasury (September 1833 to June 1834)

Levi Woodbury Levi Woodbury, Secretary of the Treasury (July 1834 to March 1841)

Specie Circular The pitiful plight of an unemployed tradesman, his family and his creditors due to the policies of Jackson and Van Buren.

Second Bank of the US Shares Owned by Baring Brothers Certificate for shares in the Second Bank of the US owned by Baring Brothers of London, April 1830.

Unissued Second Bank of the US notes Unissued Second Bank of the US notes, Philadelphia.

<em>Boston Weekly Messenger</em> Editorial Second Bank of the United States editorial published in the Boston Weekly Messenger, April 18, 1816.

Speech on the Bank of the United States Speech on the Bank of the United States veto and its aftermath.

Report of a Committee of Directors Report of a Committee of Directors of the Second Bank of the United States, 1833 (first edition).

Political Cartoon Political cartoon: A potential Third Bank of the United States provides Jackson and Van Buren an awful affright.

Jackson Vetoes Re-Charter of the Second Bank of the US Jackson vetoes the re-charter of the Second Bank of the US, 1832.

Nicholas Biddle Nicholas Biddle, Philadelphia gentleman and banker.

First Bank of the United States Building Bank of the United States building on Third Street in Philadelphia.

Second Bank of the United States Building Postcard of the Second Bank of the United States building.