Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-03-14


elegant, chhStc, and comprehensive language; while
your modern correspondents and episte writer's by
trade, deal m vulgar and bdtiagsgate slang--whci,
Tor the sake otmorolity and for the pure classic taste
the country ought TO be discomtenanccd We hope
they viii profit by the example. Let it be a warning
TO you, telow-ctizcns, that all which glittcrs is not
gold Let this example put you your guard, make
you pause and examine facts before YOU denornce as
fyranf and usuper, the of your choice--the man
who does not hesitate to sacrifice the altar of the
public good, his good name and the unfaded Ian.
reis which he had dearly bought with blood and toll
on the field of glory
We now ask your attention to the course which has
peen pursued by the present administration the
bank question.
General Jackson turned his attention at an early
PERIOD to the banking operations of country and
ne could not fail to see the evils which must result from
thei Their effects had been powerful and disas
In many parts of the Union that he was compelled to
see and feel the necessity of radical change in our
whoie monetary system. The state of Tennessee was
saved IRON much distress by his exertions The legs
lature attempted introduce the Kentucky relief svs.
tem, winch had almost produced anarchy in that state
General Jackson demonstrated against these proceed
ngs pronouncng them inexpedient, injurious in their
tendency, and IN violation of the constitution. num-
Der OF the most respectable citizens of the state united
with Inn IN sentiment; and by their exerons Tennes-
see was saved from load of suffering under which her
sister state was nearly crushed
lhe nJudcious schemes which were practised, aided
by the operations the u Bank succeeded in de-
stroyng nearly all the local institutions in the west. In
1925 there local bank i'm operation i'm Kentucky
none in Indiana, in Illinois, none i'm Missouri but
one in Tennessee one in Mississippi and one in Ala
bama-branches of the United States Bank however
were dong an extensive business. The dangerous eff.
iects OF this system were soon felt The wise and
Judicious men of the alarmed at the immense
power conferred on an irresponsible monied corpora
Ton they saw It's operations uncontrolled by counter
acting institutions, and they that they were ire
sstbe or would soon beconeso None Were more saga
cious IN discovering the danger of their situation than
the people of Tennessee; who from the previous his
tory OF banking operations in that state may rea-
sonaby suppose were greatly influenced by the opni-
ons and sentiments of General Jackson In an address
which was published at Nashville in June 1929 the
crisis is pronounced dangerous one "NIaons" says
the address, Share been loaned single bank-he crush
Of 1919 must ouertake u.s."
1t was evident to the people of Tennessee that the
natural tendency of that overshadowing institution
to obtain an absolute control the currency of the
country-and through that the fortunes and ber-
ties of the people.
They convinced that its LONGER continuance
would be dangerous to the peace and prosperity of the
country-therefore it "resored b the general asen-
oily Tennessee, January 9Th, 1880, that their senator's
an congress be Instructed and their representatives be re-
qested 10 uOte against re-chntering the Bakofe United
Statesr'
The president in his message had already called the
attention OF congress to that subject. He said that
both the constttuonaity and the erpediency of the lao
creating this bank, justly questioned and that il had
failed IN the great end Of establishing uniform and sound
currency"
During the same congress- in Nav. 1890 his friends
brought forward and supported the following PROPOSE
lions 81 The constitution of the u States coners
no power on congress to establish a corporation with
authority TO manufacture money out of paper, and
circulate the same within the limits of the staes-2, If
such power existed iii congress, il would be unwisc
and nexpedient TO exercise it.-3 The paper money,
or banking system generally, is in its tendency ruin
Gus to the interests of labor and dangerous to the lib
critics of the people" From previous knowledge of
the state of public sentiment in Tennessee which we
have Just described, and from the incidental vote which
was given on the present occasion, we infer that the
whole Tennessee delegation would have supported and
adopted the above propositions as to the unconstu
tonallty and mexpedlency of the bank and the dam
gerous tendency of the whole system. These men
were the immediate personal friends of General Jack.
son; and may be supposed, more than any Others to
have been under the influence of his opinions and prn-
cples Let it not be said then that Jackson's hostility
to the bank originated in vndictve feelings. Such
supposltion Is totally without foundation and so
unreasonable in ITSELF that it scarcely deserves pass
ing notice.
The president thought it question of vital impor-
lance TO determine at early period whether that
mammoth institution to continue its existence be-
yond the limit of its present charter he urged the
subject upon the attention of congress- In compliance
with his invitation the subject fully discussed and
contrary to his hopes and wishes, determined in
favor OF re-charter of the bank The bill was pre-
scented for his signature the 4h 'of July 1882: that
memorable day, sacred in the annals of American lib
erty, was devoted to its mature consideraton-and on
that day the president of the United States determined
by rejecting the BILL to posterty the freedom
which their fathers had proclaimed ffty-six wears be-
fore and which they had bought by the sacrifce of
their blood and treasure He returned the bill to the
senate where 1t originated, with his objections. And
from that moment every effort has been made by the
bank and its friends to force re-charter from an
alarmed and suffering people.
But the president well satisfied in his own mind
that such result would be impossible he knew that
his consent could never be obtained and he was
well convinced that the requisite majority of congress
in of his REFUSAL could be easily secured II
was therefore, moral certainty with the president
that the bank terminate its existence on the Sd Of
March, 1885, He knew that it would become the duty
of the Secretary of the Treasury the public
moneys to some safe place of depositc before that
period He well knew, from the conduct of the bank
ITSELF that Notwithstanding the deposites may have
been safe up to the present moment yet there was no
security, that they would continue in the present
uncertain and precarous existence of that institution
Setting aside the abuses of the bank which rendered il