. A history of the United States of America, its people, and its institutions. xcited a heated debate in Congress. It aroused POLKS ADMINISTRATION. 327 passionate feeling in both parties. It was defeated by asmall majority, but is of historical importance as an inci-dent in the slavery contest, which was soon to become soactive. The growing anti-slavery sentiment in the Northwas now amply represented in Congress, and was to becomethe leading feature in legislation for the next fifteen years. The Sub-Treasury System.—The system of governmenttreasuries, established in the Van Buren administratio
. A history of the United States of America, its people, and its institutions. xcited a heated debate in Congress. It aroused POLKS ADMINISTRATION. 327 passionate feeling in both parties. It was defeated by asmall majority, but is of historical importance as an inci-dent in the slavery contest, which was soon to become soactive. The growing anti-slavery sentiment in the Northwas now amply represented in Congress, and was to becomethe leading feature in legislation for the next fifteen years. The Sub-Treasury System.—The system of governmenttreasuries, established in the Van Buren administration, hadbeen abolished by the Whigs in 1841, and the governmenthad again been forced to deposit its funds in private 1846 a new and improved sub-treasury system wasadopted. This system is still in force. In the same yeara new tariff bill was passed, reducing the duties. It wasbased on the principle of tariff for revenue only, and con-tinued in effect until 1861. Gold in California.—The new country purchased fromMexico proved to be immensely more valuable than any. ^^^^- .^:zr-^^^f^^—->^-v^^j. San Francisco in 1848. one had dreamed. It contained vast stores of gold andsilver, of which the Spaniards, during their period of oc-cupancy, had found little trace. The Americans were notlong in making the discovery. Just before the treaty ofpeace was signed (January, 1848) a workman engaged in 328 THE SLAVERY CONTEST. digging a mill-race in the Sacramento Valley discovered in itsgravel deposits shining particles of gold. The news spreadrapidly. The search was extended far around, and goldwas found to be abundant. Gold was everywhere,—inthe soil, in the river sand, in the mountain rock. SanFrancisco at that time contained about four hundred inhab-itants. When the news reached this town it was deserted,the excited populace starting in haste for the mines. Onlyone thought existed in California, to dig a fortune from thegold-strewn soil. The Gold Fever.—When tidings of t
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Keywords: ., bookcentury1900, bookdecade1910, bookpublisherlondo, bookyear1915
