The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-07-23

ed the people 10 PROVIDE ana supply Tor lhe use VI
their Chief Magistrate, and should have supplied
the DEFICIENCIES thus produced, by stools and spoons
and plates of wood. Would any one now contend
that absurdites such as these were decisions Of the
patriotic and intelligent freemen of this country at
The elections referred to- And yet these very
subjects were made matters of grave debate in
high places, and throughout the popular meetings
af the dominant party, during that canvass, and
might add hundred other topics equally novel and
absurd, TO which u leading prominence was given
by the wing orators pending that canvass. No one
will now stand up here, or elsewhere, and contend
for the force and weight of favorable popular de-
cisions upon these irrelevant, disgusting and DIS
graceful issues All these eXtravagances Of polli-
cal effort are as revolving to my mind and feelings
now as they were when beng used as means OF
popular delusion; and do not refer to them from
any pleasure | take in bringing them back TO the
memories even of those who participated in the
farce, much less those who did not but simply for
the purpose of showing gentlemen, who are now
fond of quoting the popular authority exhibited
at these elections, IN support OF their proposed
measures that their issues for that spirited and
important controversy were formed much more
with reference to in the vote, than TO meas
ures of government, which should be consequent
upon that success; and, as proof of this position,
in favor of these absurd triAes, are much more
abundant and strong than they are in favor OF the
establishment of a third National Bank.
Upon this point speak from some personal ac-
quaintancc with the facts. During the canvass re-
fcrred to, for the first time in my life, followed
the universal example and lraversed considerable
portion of my State to meet and address assemble
yes of the people upon the political topics of the
4, nnn Of nlu al lnrts N m
addresses 10 the ricemen of the State was 10 Prove
10 them that the prominent object of the party OPP
posed to me was the establishment of Il Nation
al Bank in close connection with the National
Treasury aud the National Credit; and ii was al
most rs constantly as discussed this point, that
my assumption of the fact was boldly and conf
IDENTITY denied by prominent members OF the Wing
party, in subsequent familiar conversations with
me- and was assured in the strongest aud most
earnest manner, that | was mistaken as TO what
would be the policy and measures of the party, if
successful at the elections. These conversations
were moi political disputes, but friendly and anlll-
iur interviews, and the nverments were strong and
positive that National Bank would not he meas
IRE of the party. The gentlemen TO whom al
Jude gave me credit for sincerity of belief in the po-
son attempted to establish, and | acccdcd to
them then, us do now credit for perec, sincerity
in the declarations they made TO me. They hon
esly believed that their party was not the Hank
party, and that the establishment OF a Naic ma
Bank would not be one of its party measures
They consccntiousv believed was uborlng I'M
der n radical mistake upon this point, and had the
lrankncss and candor TO tell me so but yer!
| brief firth, of lime has shown them and me which
was the mistaken party. So much for my person
| al information on this point In addition to II, ]
have the UNIVERSAL and uncontrudced report of the
dav, that while few, very few, OF the leading
! Wings, who traverscd the State, and addressed
popular assemblies in reference TO the pending con-
lest, expressed themselves in favor of Bank, or
recognized the question AS involved in the cleo
lions, many of them denied, in that bold ard pub
lie manner, that Bank was measure which they
or their party favored, and denounced IN the
s'ronges, terms their political opponents Tor chang,
Ing friendship for National Bank upon them. And
shall be said under such circumstances that the
popular decision, in Il canvass so conducted, was
in favor Of such Bank? repeat the position
cannot be sustained by facts or history
Assume, for the sake of this argument, that the
populur decision, ut tho elections of 1910, was
against the Independent Treasury, and how will II
stand, in this respect, BY the side of the proposed
subsliutc-a National Bank This substitute does
not rest under one popular condemnation simply
The old Bank 1871 reached the termination OF III
charter in 1911 The subject Of rcchnrtcr was
ugitated and the popular voice controlled the &C
tcn of the peoples representatives; the Te-chnIle
was refused; and the Bank suffered TO expire. Th'
second Bank of 1916 anticipated the Limitation o
It's charter by the period Of four years, and made
its application to Congress for a re-charter in lS3:
pending an exciting presidential election. The ma
ory of the representatives. Of the people IN boil
, Houses of Congress. favored the wishes Of thu
Bank. and passed bill for It's recha,ter for Sc
cond period of twenty years. The then Presden
of the United States, AT the time candidate 10
recollection to that high Office, returned the bill WI
; his veto, and lis passage was thus debated. li'
made his appeal against the Bank directly to TIT
people of the country, and tho Bank ana us iIlend
Joined the issue with aacrity, and manifested NJ
less reluctance than the President to go TO trial be
fore the grand inquest Of the nation, the ireemen
at the polls of election. Never was political issu
more distinctly formed; more fully argued; NOR
constantly kept before the eyes and the minds o
the people, or more clearly and tiumphantIy deci
D dcd; and never was the condemnation of the pop
I ular voice more unequivocnlly expressed thai
$ against this second Bank of the United States upo
I that OCCASION This was the second distinct Judg
e ment Of the people against a Bank OF the unlte'
5 States.
; There has been a third controversy, however
which elected third verdict of the same characte
= and tendency. In October, 1898, General Jack
son. then having entered upon his second Preslden
tial term, ordered the deposies OF the public mon
e ey to DO changed fiom the Bank OF the on'le
/. States TO the State Banks. This gave rise to IN
celebrated 'panic session of Congress- so called
and to the exciting Congressional elections oil ioo
r and 's5. A-an Presdon, Jackson and his admin
isra,ion were engaged in the trial of political lssu
$ before the people against the Bank oil the Unite
: States, and its friends and supporters. me res'o
= ration Of the deposes to the bank was Inc FORM
II the question. but all will remember, and all mus
}. admit. that the success of the Bank in The trial
It that question would have been held ana we've
n BY both the con,ending parties as equivalent 10
v rechnrtet: as step gained BY the Bank whlc
, could not have failed TO lead to that result. lienc
the desperate character Of the con'es, but agal
b the Bank fell, as signally AS in 1892, under III
e condemnation Of the people, and fell to rise n
: more ne national institution. Indeed, so clea
and conclusive were these double verdicts, that tn
: friends Of National Bank have scarcely DEBATE
- bavo mt inyolpd the action Q