Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1842-11-08
lIr. spcncer,s Confessions.


throughout the whole period, the mos: active and
effective leader OF the party in the greatest State IN
the Union. No mans opportunities ut we except
Mr. Bddle's) ever afforded such perfect access 10
the hidden workings of Hamton's great political
engine for the overthrow Of Democracy as Mr..
Spencer's. He perfectly familiar vita the do
ings of the bank, not only during, but long before
General Jackssn's administration. nr. Spencer
himself tells the country, in his letter of disclosures
and confessions, speaking Of himself and the Pre-
siden,) that they had co-Operdied az Congress on
all important occasions, and on the same committee
had conducted the memorable inresigailoR IN 1919
INTO the affairs Of the Bank Of the United States,
tcbere they had stood shoulder 10 shoulder, battling
against he frauds The corruption, and he pocer Of
that institution, on common Sr oHHds and coHSe7ldt
principles" And what did they then find, in
this early stage of the existence of the Bank
Hear Mr.. Spencer;
"JIhn years of as srisfcace the last Bank IF NE
United States Became Itlc jer than 9 u robbers is
managers Nth eTcePoRs pursued systematic scheme
cf plumber and fraud, rhich arrested by The iarega
ton II committee ef Congress"
The reader will mark that this before Mr..
Bddle's time. Mr.. Spencer expresses the convic
ton that the vices and crimes of such an instItu
ton spring from the inevitable and controlling in
hueuce which such irrespons bic moneyed corpora
tons bring bear their managers, rather than
from the character Of the latter and he makes the
inference from the positive and mmeasurable IN
uries which we now know have lowed from the eX-
favorable auspices, and was committed to the charge
of men at the time esteemed the most honorable and
trustworthy in the land
Mr. Spencer continues tie history OF the bank
after his memorable discovery, It's infancy, il had
become "A DEN OF ROBBERS" and gives thi
account Of its political operations during General
Jacksons time
CIemency now believed have beer mistakcn towards
innocent stockholders and hope that the example which
had made of the offenders would deter others from sim
q. 1.~I~ eofrftnn .
lowed proceed under restrictions designed to prevent
the recurrence of similar frauds, In fer lcas found
open trih the Gore~Hmcn Of the country-seefiHg
he reHer1l Of IT'S charter bdisng presses and EDITORS,
SqtnRGcrpg as az partisan elections, and openly
purchasing the support Of ite renal IN al directions The
moral corruption bich Jodef the Uhoe country rGS III
itself er # the most fearful magnitude. struck deep
At the roots Of public faith and private honor and Prert
rGyf0r reckless and UHb0UHdef errGrGgdnce which
the bank ise stimulated by the prefse distribution Of its
money, and the consequence y which ROc repHg in
fadriduaE sueffngS from icich bankrupt lar affords
bit slight relief and IN the degradation et the character
country by the fraudulent iasoirnces Of public corp0r
atoms and by the strmes refusal i sorercgn states 10
ftlfl their Obligations"
Every word here emphasized in italics should lie
: ghed by the people of this country. "Ia lit0
gears lCaS found open Nth the Government
+ II the counry-subAidiSiRg presses and editors,
sqHanderipg It's treasures az partisan elections, and
r opeHy purchasing the support Of The ccRat ~ all
! dircctjons."
Who could know this better than iIr. Spencer
the acknowledged leader of the party in the State
Of New York, which availcd itself of the whole
power OF the bank IN waglug that ruthless aud re-
{ lentless against General jackson Mr. Spen-
4 Ger was a partisan of all work in TIE successive
campaigns carried OH by the bank. headed by Mr.
Il Bddle, against the government. headed by General
: jackson. lie of the ablest and most in
dustrious writer's for the subsidized presses, which
a hurled unremlttinc, unsparng anathemas upon the
y venerable Chief Magistrate, who devoted himse
to arrest the moral corruption which" Mr.. Speh
/, Ger now tells US 'R0oded the ,choe coHtfyy iron
r the foul issues Of the bank. lie was one of those
,, who-when the bank "sguaHdcriRg lis frfG
: sires on party eiecijoHs,' and was agtatng til,
ii Union from end TO the other with the errors o
Je the money power-contr buted his powerful eiO
a quence to ''fke support Of the UendL IN all drec
tons, 10 get up the storm which, 1t was expected
lie would sweep tie Hero President from his station
IN and lay open the Government fortress absolut,
f conquest to the bank That Mr.. Spencer in look
n ing back THIS history, in which he was SO P7O
minent an actor. should consider 1t with the just
10 adherence which he expresses, proves that hr
is has not forgotten the vows which opened the as
Federal campaign, and that he began 1t at tn
A. right place-his own bosom. We think he Ia
It purged it of fearful weight in his late confessions
m There is another circumstance IN the bank ca
" rcer adveited to in Mr.. Spencers letter, whlc
ee should bring the reflection Of the reader mos
nd prominent act of presiden. Jackson, in relation t
he the institution, and which marked another e poe
e in the prosecutions of that venerable patriot by III
Is posltes.
no Mr. Spencer continuing his narrative, says:
"The final extinction of institution under stat
charter but managed by the individuals and the cons
qucnt inevitable exposition Of Its AFFAIRS have disclose
scenes of depavty and fraud which the whole count
Nc stands aghast Who look back at the immense
e, of public which have been ntrusted to the fidelity
he the same men, without feeling OF horror AZ the abyi
which we have escaped And who would again ventu
ce of the ma ION upon the integrity OF any body
individuals capacity when have before
of the tpp1p
We spoed public private character, resist the empt
tons which attend the control of wealth and mo
H. dinaic power How any government justify itself
thus transferring corporate individuals the functions wit
which it inusted for the welfare of the people ii
collection the preservation, and the disbursement Of 4
en- public Is the business Of the government te
through its agencies with all the responsibilities Of
he fee with the securities of oas, bonds and consa
70 check and supervision"
,or Does Mr. Spencer forge; that to the sagacity
ST. the courage OF President Jackson. in removing ii
nd deposites, and urging the sale Of tie Governmei
se stock the people indebted for the escape OF q
N treasure of the nation from the abyss Of "dcpTay
err and fraud which the Whole country stands aghas
he and at which he now expresses his "horror = II
re nation millions OF capital invested IN the ban
he and its millions in dePoslte, would all have goi
vo. with those which were spent IN spreading CORFU
. ton throughout the Understanding speculation
! overwhelming individuals and States IN bankrupt'
fol but for the forecast ana hru'nes, o. t"e 'luo
old man. who was then repaid by Mr. Spencer al
.oJ his whole party with the most merccss deuunci
ms ton and persecution ever witnessed among rs.
IL only through the press-thr0ugh speeches IN 20
rress-harangues from the stump addresses
ea pa lie meetings, was nc eached but ms own ina
est slon was lnVaucG ~ efOodcu comiit'ees' anu b
xu very chambers infested by myrmidons sent on
Insult and harass, and to 90 out and belle and "
49, duce him. And whose voice WAS heard louder
~ this hunt and halloo than Mr.. Spencer But
&C. makes some atonement, ia repentance a