File:The student's American history (1899) (14770946401).jpg

Identifier: studentsamerican01mont (find matches)
Title: The student's American history
Year: 1899 (1890s)
Authors: Montgomery, D. H. (David Henry), 1837-1928
Subjects:
Publisher: Boston and London, Ginn & company
Contributing Library: The Library of Congress
Digitizing Sponsor: Sloan Foundation

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n created con-sternation at the North. The most that the Kansas-XebraskaAct (§ 432) had done was to throw open a certain limited ter-ritory to slavery, provided a majority of the inhabitants desiredit; but now the Supreme Court of the United States solemnlydeclared that every slave-holder at the South had the same con-stitutional right to take his negroes into any part of the publicdomain that he had to take his horses or his cattle there (§ 322^.A great number of the people of the free States became convincedthat *• party spirit had taken possession of the Court in theinterest of slavery. Seward boldly declared: We shall reor-ganize the Court, and thus reform its political sentiments. ^Many persons expressed the fear that the supreme tribunal ofthe country was preparing to affirm that negro bondage was notlocal but national. This conviction added enormously to thestrength of the newly organized Republican Party (§ 425\which pledged itself to resist all encroachments on free soil
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1857-.) THE UNION, NATIONAL DEVELOPMENT. 385 (§§ 425, 431). On the other hand, the exultant South found inthe hostile attitude of this army of Northern voters fresh justi-fication for threats of disunion. Later (1859), the Senate of the United States endorsed theDred Scott decision by a vote of 35 to 21.- This actionencouraged those who advocated slavery extension, but itirritated and alarmed the friends of freedom, and so helped towiden the breach between North and South, 436. The financial panic of 1857. — To add to the excite-ment caused by political questions, a financial panic now sweptover the country. In August (1857) the Ohio Life and TrustCompany of Cincinnati failed for $7,000,000. An investiga-tion showed that the managers had lost the entire capital instock-gambling. The failure compelled many banks in NewYork to suddenly reduce their loans; this caused a generalfinancial crash. Business was in great measure paralyzed, andwith three exceptions, the banks throughout the

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