Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-03-28
S}8oltgman ans &s9tate 8oataar,
CEWESRRHEaIIsRs
TUESDAY, MARCH %, 1887.

tory is to be found in the conduct Of the Presi-
dent himself The remark is equally true of
some Of the worst parts OF that document -
for instance, the part upon the currency, banks,
SC. Notwithstanding the long TRADES on THE
subject which the people have been doomed 10
receive from this source tho fact is that the r.
feet Of the acts Of the late administration has
been, not only to increase the number Of banks
to moro than double the number existing a,
the commencement Of Jackson's term, but
completely to change the banking system so as
TO bring the whole within the reach and con-
.rol of political party This is the very evil
Of which jackson complained when he COM
menccd the war upon the Z. S. Bank-most
falsely complained and We cannot hardly call
charity enough 10 our aid to enable us 10 think
that the design, absolutely at the bottom Of all
the pretended patriotic anti.bank notions OF the
messages, veto and farewell address, was not
to create and scatter little "monsters" through
tho whole country, and nt last make them
mere party machines TO be used Tor the bene-
fit Of the Kings and Princes Of tho democra.
cy.' If this was not intended, most truly the
fact is that such is the effect So very plain is
it that political po,oer has been erected, that
even an original Jackson prcss-onti-bank to
the back bonc-is compelled TO fear that so
much political pouer has been placed in the
hands Of the Gcposite banks as to make them
II N 10 he of tI,o TT,,;t oil
States. Weiroat the fear as groundess one.
The opposite and equally mons,rous evil is to
be apprehondcd; the President and the banks
may be too strong for The people. BY the course
of the late Van Buren, Senate, in defeating tho
distribution of the surplus, an immense sum
must soon 60 into the hands Of these pet banks,
which were got W by Jackson-say $50, 000,-
900, by the LIST of Jan. 1888. And what
might not these banks do with this sum, for
which they pay only ticO per cent year D
What political cGeet might they not produce in
these times Of exorbitant cxtor,ion, usury and
bankruptcy, the result Of another OF Jacksons
experiments on the currcncy"7 What Sc.
curly have the people that the powerful incen-
tive, sfl-interesi, will not impel all of the eigh-
ty or ninety pets 10 be as anxious for the pros
perlty Of The party, as was the bank of Bur-
lington and the Seventh Ward Monster at n.
York Most truly the people are exposed to
the grippe Of moneysd driSiocracy-a bank ar
isiocracy-the identical thing, the idealiiy of
which frightened President Jackson and the
democracy out Of their seven senses We
say this result, if things come to such a
pass, is owing 10 the course OF Jackson, adop-
ted perhaps at the instigation of such advisers
as Van Buren, s. Benton: and this is the con-
duet OF Jackson which affords the very best
comment upon his address. For the paricu-
lar qualification OF the original Jack sonmen,
we give The following extract from the Demo-
cratic Herald, paper which supported Jack
son and Van Burcn, and is now under the
Tom Benton banner:
"Thrty State Corporations take possession
OF the Treasury ofthe United States, and their
agent, r. M. Whitney, supercedcs the Secreta.
ry in all his grand functions, and apportions
and alos the public treasure among certain
Stock Gambling Corporations, in proportion
to The fees, or salary, which these Corporations
allow him !! Talk OF q national Bank, in.
deed why these thirty corporations are inf.
nitely more corrupt-more dangerous-nnd
more powerful than dozen national banks
| The system is one OF the most detestible in
| fractions OF the Constitution, most Udious
| collision with corporation power and privlle-
| ges, which every sound maxim Of democracy
! strongly lordids. Here is the money power
I Of the United States, united 10 the money pow
or OF State Corporations TO secure power and
privileges 10 those Corporations, which nmos:
makes it matter of impossblity for the pco-
pie TO put them down. Under this system, ev-
! cry Opposite Bank becomes a sort of Satrap
TO the Central Monarch, and uses its power,
sometimes 10 defy, sometimes to Gaiter-some-
/ times TO defrGud, and sometimes 10 bride lis
master And all this in free and pure gov
| eminent. Imagine nest of some six men as.
sembled 10 realize al immense fortune, by
magnificent project, in one of the Southern
rooms of one OF your Opposite Banks. They
knock their heads together, and conclude to
! give K. Nj. Whitney" round sum for por-
! ton Of the public treasure-that W. complies
with the proposition that the secret more
ment is known only TO these six--who buy up
| the stock in advancc-wben tico millions are
suddenly transferred to this bank, and The Sir
spectators, by the rise OF the stock realise one
| hundred thousand dollars a piece. And all this
is done with the treasure of the people, which,
under the Constitution, they have confdcd the
| safe keeping Of, TO a sworn officer, called the
Secretary of the Treasury. When we extend
our view further, and ask, how these two mil
lions are disposed of by this Deposte Bank
we find that they are loaned out to stock gum
blers-and thus become a source of opprcs-
sion empovorishment, plumber and annoyance
10 the Peoplo-by enhancing the prices OF all
the necessaries of life, and creating scarcity of
! money, and with II want OF employment, and
dear living, to all the laborng classes"