The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-04-23

the republic IN any form Whatever, or nndeT any
restrictions. y The Bank is, in fact, but one
Of the fruits of system at war with the genius of
all our insluions-a system founded upon po-
lilical end, the fundamental principles Of which is
n disrust Of the popular will as a safe regulator Of
political power, and whose great ultimate object
and inevitable result, should it prevail, Id the con-
sodalion Of all power in one system, in one CEN
trail government. \ II is one of the serious
evils -four present system of banking, that it ena
bles one class of socety-and that by no means
numerous one-by its control over the country, to
act in|urlously upon the interests Of all the others,
and to exercise than its Just proportion Of in
duence in political affairs. The agricultural, the
mechanical, and the laborng classes have lite or
no share in the direction of the great moneyed cor
porations, and from their habits and the nature of
their pursuits, they are incapable of forming extern
sive combinations TO act together with united force
All know that their success depends upon their own
industry and economy, and that they must not ex-
Pect to become suddenly itch by the fruits of their
toll Yet these classes of society form the great
body of the people Of the U. States; they are the
bone and slnew of the country, men who love lib
erly and desire nothing but equal rights and equal
laws, and who, moreover, hold the great mass of
our national wealth, although it is distributed in
moderate amounts among the millions Of ireemcn
who possess it. But, with overwhelming numbers
and wealth on their side, they in constant dan
ger loosng their fair influence in the government
The mischief springs from the power which the
moneyed interest derives from paper currency
which they are able 10 control; from the multitude
Of corporations, with exclusive privileges, which
they have succeeded in obtaining from the different
States, and which employed altogether for their
benefit. And unless you become more watchiul
of your States and check this spirit Of monopoly
md hirStE far ox,Iu in thn
end find that the most important powers of govern
ment have been given or hartered away, and the
control over your dearest interests has passed into
hands of these corporations. The paper money
system and It's natural associates, monopoly and
exclusive privileges, have already struck their
roots deep in the SOIL and i, will require all your
efforts to check its further growth and eradicate
the evil, The men who profit by these abuses and
desire to perpetuale them, will continue to bcsese
the halls Of legislation in the general government
as well as in the States, and will seek by every
artilice to mislead and deceive the public servants,
1t is to yourselves that you must look for safety
and the means of guarding and perpelunlng your
free Institutions
Was ever prophesy more rigidy fulfilled Look
ut "your halls Of legislation" Not only taye they
been "bcsieged" by hungry swarns Of monopo-
lists, but gGrrisoHei too often by Bank feed Law
milling to be " deceived" or rather to deceive
others, Attending their deliberations, one would
almost suppose, in many cases, by the special
pleadings in favor of Banks and Bankers, that he
was listening to the proceedings of board of Bank
directors, devlsng ways and means of perpetualing
their ill-golton power and of " vesng" it away
securely beyond the reach Of legislative enactmenis
or the sovereign power of the people
In letter to Albert Galla,in, in 1903, speaking
OF Col. HamiI,on's machine Mr. Jefferson says;
"l'hs institution (reerring to the bank of the
U. States, is of the most deadly hostility ey-
listing against the principles and form Of our con-
slilnlion. The nation is, at this iime so strong
and united in its sentiments, that it cannot be sha-
ken at this moment. But suppose series Of un-
toward events should occur, sufficient to bring into
doub, the competency ola Republican Government,
10 meet crisis of great danger, or 10 unhinge the
confidence of the people in the public func,ionares;
institution like this, penetrating, BY its branchcs,
every part Of the Union, acting by command and
in phalNny, may, in critical moment, upset the
Government. deem no Government, safe which
II under The vassaIage OF any selfconsuted au-
thorles, or any other authority than that Of the
nation, or its regular iunctionalies. What an OBJ
struclion could not this bank of the United States
with all its branch banks, be in time of war; 1t
might dictate to US the peace we should accept, or
Withdraw its aid. Ought we, then, to give further
growth TO an institution so powerful so hostile
That it is so hostile, we know: l. From knowl-
edge of the principles Of the persons composing the
body Of directors in every bank principal or branch,
and those Of most of the stockholders: 2. From
their opposition to the measures aud principles Of
the Government and to the election of those friend
ly to them: and 3. From the sentiments of the
newspapers they support. Now, while we nre
ctrpn ia l,t,, n
Of our constitution to bring this powerful enemy TO
perfect subordnatlon under its authorities"
This was done by the Roman frmness and per-
sonal power of the lllusrious Jackson. The over
whelnling corruption Of the bank in lis last srug-
gle proves It's dangerous influence, and the iusnes4
Of the prediction Of William Pitt. This celebrated
British Statesman once madc the following remark
in reference 10 this country: "Let," said he, she
.1mericans adopt the funaiRg system, and 20 into
their BANKING LNS7ITU1IONS, and
their bOastei independence wW Lc a MERE
PHANTO.M' The first was adopted through the
influence Of Gen. Hamilton, then Secretary Of the
Treasury, and the last the Americans have gone
into much deeper than any other nation. The
former, however, we have got rid Of, by the pay
ment Of the National Debt through The instrument
tally Of the hero Of New Orleans.
"Of all the roDtrirdaces for cheating the labor
ing classes of mankind, none have been more eilec-
tual than thu, which deluies them with paper mon
ey. This the most etEectual of inventions 10 fer
tifse The rich mans field By the sucat ON poor
mans brow. Ordinary tyranny, oppression, en-
cessive nSation these bear lightly on the happ
ness Of the mass Of the community compared with
fraudulent cnrrcncics, and the robberies committed
by deprecated paper. Our otCn history has recon-
ded for our instruction enough, and more than
enough, fhe demoralizing tendency, the injustice,
and iuocrnble oppression on the viriuous and well
disposed, Of degraded paper currency, authorized
by law, or in any way oountenauced by govern
mcnt"
Thus spike Daniel Webster in 1892, when he
doubtless spoke his honest sentiments Whether
he was equally honest few years after, when he
had received some $50, 900 from the Bank, is a
matter which the American people have very Justly
questioned.
In 1884, the Hon. John Davis, then Governor
OF Massachusetts, stated in his message 10 the
Legislature
"Tlat experience has long since proved that
metallic currenc, is least liable TO fluctuations. and
it is hoped that the earliest opportunity will be
seized to return 10 it, at east ns TO reciry the