Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1841-03-19
GEN. JACKSON AND THE U. S. BANK

| GEN. JACKSON AND THE U. S. BANK.
After all, Gen. Jackson was right about the
United States bank. said wing and honest
man to us the other day. In saying this, our
friend only gave u,terance to the universal
opnion. Even those of the wing party who
will not follow his example of frankness, cam
net think of the course purSuedby the old man
of the Hermitage, without an involuntary adj
miration Of his extraordinary sagacIty
He was right right in denouncing the bank
as dangerous, corrupt, and mischievous IN
stitntion; right in believing that it was mis-
managed right in declaring that the deposltes
were unsafe in its possession; right IN reno
wing them to securer custody. He was right
in putting his veto on the bill that was to give
this corrup, and i'll managed institution new
charter, and to proong and extend its powers
of mischief. He was right in issuing the spe-
Gle circular, which checked the flow OIL Its
notes to the national treasury, and arrested the
mad specuations of those who bought the
public lands with its credits. In short, he was
RIGHT in every SAYING and every act of his
which concerned the United States bank. He
saw that the institution was in itself a magnitl-
cent cheat; that it was knavishy managed,
bad thing in bad hands; that it was IN effect
already bankrupt, and was posing on to a
more prodgious and public bankruptcy. Ev-
ery step that he took in regard to the bank, was
dictated by his conviction; and every step was
strictly right. In cutting the government loose
from this perncious associate, he did not be-
gin moment too early, or take single meas
ure which was too violent for the emergency
The event has shown his foresight. The
bank has gone on, laundering from one depth
of bankruptcy to another, like drunkard stag.
qerng down stairs. Slice by slice has melted
away from its enormous capital, until at length
its lhirty-fve millions are numbered with the
last years dandelions. Nor did this happen
because the institution fell into other hands, or
because different course of management was
| adopted. 1t still continued in the hands oil
Mr. Biddle; it was conducted according to the
same maxims Of finance until his recent retire
ment, and since that time has been managed
by his advice. Even yet he brings proxies T.
the meetings of its stockholders, and appoints
its directors. When Gen, jackson removed
the deposites, the managers Of the bank hat
done their best to ruin it, and were fllnglne
away its capital by millions yearly.
When the history of Gen. Jackson's admin
istration shall be written, his war upon the
bank Of the United States, as his enemies have
delighted to call it. will be recorded as much
even more to his honor, than the part he took
in the last war with Great Britain. 1t will be
set down as one of the finest examples Of kecr
hed-comprehensive sagacty, of promp
and just decision, and of unwavering courage
in civil life, that illustrates our annals.
Yet was upon Gen. Jackson's course tow
ard the bank, approved and continued as il
was by Mr.. Van Buren,, that the principal OPP
position to the administration of both was toun
ded. To admit, as many Of the wings now do
that he was right in what concerns the bank o
the United States, is TO admit that in the MAR
Gen. Jackson and Mr.. Van Buren, have pursu
ed just and beneficial policy, that the oppos
ton have been in the wrong, and that Harrl
son has been carried into the presidential seat
by the effec, Of temporary deluson.
Meantime, we cannot quite understand the
Indignation which is expended on Mr.. Biddle
They who believed him the greatest master in
finance the world contained, shower upon his
name the fercest expressions Of scorn and ha-
tired. Why is this! Who is most to blame
he, the tool of politicians. or the politicians
who worked with him? Did Mr.. BiddIe cre-
ate the delusion by which the United States
bank has been upheld so long, and endowed
with such boundless opportunities of mischief,
or was it created by the leaders of the wing
party! No man can hesitate as TO the answer.
1t was Mr.. Clay and Mr.. Webster and their
political associates who imposed this prodi-
gious cheat upon the country; it was they who
encouraged and defended the crimes, the cor
ruptons, the frauds of the banks; and they
must stand responsible to the country and to
posterity for the consequences.-N. Y. Eve.
Post.
Messrs Blair & Rives, Of the Globe, have
been reelected printers to the Senate: The
feds of the Senate, who will be in the majority
at the next session, kick up terribly at the idea
of having democrats thrust upon them, and
threaten to remove them-foree,ting that for