Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1837-08-09
Extract from an aaticle by DR.. Cooper in th>
S. L. Journal.
TIE VERDICT OF HISTORY.

most able administration of the Bank OF the
United Sales, the paper issues Of the Safe
Banks were kept within bounds; Dances
were no: permitted to accumulate, the cur.
rency OF tho country was in as good state
as could reasonably be expected. Our pa.
per WIS every where convertible into cash,
without difficulty. The finances of Govern.
ment entrusted 10 that Bank, were managed
with chcapncss and facility, that left moth.
ing to be desired; and the whole currency
ofthe United States exortcd the appreciation
Of the best informed financiers OF Great
Britain. Nor is tito be denied by any man
who has character 10 lose, that the no.es
Of Mr.. Bddle'S Bank were several years
preferred to coin. During thirteen years,
$50 millions Of epublic money were trans.
terred to and from all parts OF the Union,
without the loss of ono cent, through the
excellent management Of that Institution.
Soon ai,er Gen. Jachson's Election, it
seems to have been determined TO control
tic Bank oc the United States and to bend
i: TO the party purposes ofthe adminislra-
ton. The first open attempt was in June,
1929, supported by Mr.. Woodbury. and Mr..
Hill, to effect the removal of Mr.. Mason,
President ofthc Branch Bank at Portsmouth,
in New Hampshire. from his office, because
he was no! friendly to Gen. Jackson's cleo.
ton and administration. This measure was
supported by the Secretary Of Treasury.
Mr.. Inghaln, who undertook to state TO the
Bank "ihc views Of the Administration in
relation to this appointment" The Pres
idea. orthc Bank with concurrence of the Di.
rec.ors,rcplcd to Mr. lnsham,that he rightly
apprchcndcd his views; bit acknowledged
no responsibility TO the Secretary Of the
Treasury touching the political conduct of
the officers Of the Bank; that being sub.
iect on which they consult no administration.
That the Bank has duties to perform toward
the country, but not toward any party, whose
pretensions it would not acknowledge or
compromise with. In the present case,
tic best mode Of satisfying all parties, was
% disregard them all.
The President. Jackson, who had rcpea.
tcdy spoken Of the bank of the Uuitcd
States, withou, objection or apprehension,
now began to formal attack upon that in.
s'itution, in his Message of 1929. This
was continued in 1880, 1881, 1882, and
every succeeding year, till by series Of
complaints against that bank, frequently
resisted by Congress, but perservingly back.
cd by the whole power and patronage Of
government, he finally prevented the renew.
al Of the character. He withdrew from the
bank the dcpositcs OF the public treasury,
against the opinion of constitutional author!.
ty. he took the money under his own CON-
mand. lie distributed those enormous sums
to various local banks dispersed over the
country, increasing through their means the
influence and patronage Of the executive:
and having thus locked up the public treas.
ure among Tie banking institutions which
he thought &. to favor, his successor may
now look for j: N vain. The banks thus
favored, have stopped paymen' even agains:
the government, Who's deposits they hold,
and laugh to scorn the public creditor. 4,
this moment June, Julv) it is generally ru-
morcd, and as generally believed, that the
whole system Of government would actually
have stopped, if the wise moderation and
honest public feelings of Mr.. Biddlc, had
not induced him to make advances of large
sums 10 relieve his opponents from the diff.
culties in which they were involved. In.
deed, throughout the whole Of his remarka-
be controversy with Gen. Jackson, the ad-
mrablc miliness and moderation Of Mr..
Biddle, exhibited a striking contrast to the
violent inycctives Of tie President Of the
Union.
Gen. Jackson's opponents address him
thus.
Sir,--You attempted to bend The bank Of
the United States to tie party purposes Of
your administration. The directors resisted
the attempt. Then and not before, you
became the pcrsevering enemy o! that Inst-
tuition.
You seized dcspo;calIy on the treasury
deposi.es,I under prctencc that they were un.
saf, in the national bank: 4 prc,ence in
which you stood alone. You PROMISED to
provide the means o. L safe custody for the
public money. Where is that money!
Where is the treasury? In thu beggcr!v
repository Of empty boxes, the public treas.
urc will be sought for in vain. Say then,
where is ii! Gone, dIsspatcd, thrown away,
wantoaly wasted.
You and your pariizans promised spe-
Gle currency in place ofpaper money within
a twulve-month. From Maine to the cx-
treme South, hardly coin is 10 be seen.
promised to equalize he exchanges,
as if they needed it. You have thrown them
all i:.to ncxlricabla, unu:terablc confusion
You found a general disposition 10 main.
tain mercantile honor and punctualy.-
Van b,,.n nros,rc ted and dnrrada5 tho ,par