Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1845-01-16

Tins in its COILS to strengthen the ranks CT its
friends by the power Of its corruptiOns
Conspicuously prominent in these scenes we behold
another personag e-another President. Then there
were two Presidents,-a President IF the people, and
President of the Bank. There open of
doubtful termination,-tLe Bank and its President
the one hand, and the people and their President on
the other. That President of the Rank remark
able individual. man of genius and learning, of
proud and generous spirit. He was dIgnifed IN his
department. and graceful in Lis carriage. There
few men Of finer personal appearance or more atrac-
tive manners In those days he was the idol Of his
party the observed of all observers. His financial
abilities formed the constant theme Of every tongue.
1t rank beresy TO doubt even, his paciy to
age the affairs Of the institution over when be pre-
sided his integrity, or bis honor.
Let pause for moment, TO consider what change
the lapse of few short years has made IN the prin
cpal features of this scene. The turmoil has subsd-
ledthe angry passions of men, aroused By that furi
Gus strife, have cooled down, and passed away but
what has been the result as TO toSe two prominent
actors The one still lives in the calm retirement Of
declining age, beloved and generated by all his
| trymen; bat the Other,-ah. where is he He has
gone down to miserable grave, cursed by the or
phan's tear and the Widows moan. Crushed beneath
the wreck of that monstrous institution, whose
and powers he had exhausted in wild and phrenzied
efforts to corrupt and break down the institutions of
his country, he fell at last overwhelmed with univers
al execraton.
mere purpose of gratifying personal party feelings
trust you viii give me credit for better motives. 1t
affords, as i conceive moral lesson which should
strike deep into the mind of every citizen. The
of pure heart and Just principle has nothing TO fear
i from tie purifying hand Of Time On the contrary,
his character shines the brighter the longer 1t is
posed to public scrutiny; but the representative of
false principle must inevitably fall with the temporary
deusion which it is based. Mr.. Biddle was prob
aby, by nature, all that his friends represented him.
! - IL Il.
properly charge the evils that resulted from its cor
rupt course, aud disastrous termination.
We are sometimes told, that the result would have
been different under honest management,-that such
institution under the control of able and faithful
managers, could be made greatly conducive TO the
public interest, and at the time would be free
from the danger of those coruptons and abuses which,
] it is now generally admitted Justly chargeable
to the old Bank of the United States. But where
could we find such men Where could man be
found, enjoying the confidence OF his party great
er degree than Mr. Biddle! Unhappily, all mankind
are fallibe, and few, and indeed the excep
lons to the general rule that all liable to be mis-
| led by strong temptations. Nor have any certain
test by which to discover such exceptions if they do
exist, except by trial and by that mode of expert
men the injury IS consummatcd before the discovery
is made 1t is manifest therefore, upon general con-
sideratons, that the safe and policy is to
such risks, especially when there is imperative
cessity for doing so, and when the failure may be at
tended with such disastrous consequences to the whole
community.
The bank question was undoubtedly the most i'm
portant and by far the most interesting in its effects
and consequences of any which during the adj
ministraton of General Jackson. II was the agita-
ton Of this question which gave the first impulse TO
the rise and progress of What has been called by our
opponents, modern democracy We care Little for APP
pellatonst is by their substantial effects that things
will be Judged by reasonable men. Modern democra-
cy is but ancient democracy revvifed and awakened
Conidng too much in lis strength and resources,
democracy had been sleeping since the termination Of
the late war; and during its slumbers, the ever wake
ful spirit Of ariSocrac encroachment had been grad
ually winding its coils around the government until
it required all the moral courage and strength of Jack
son, and that backed by largo popular majority
: cast them Off The attempt to do so convused the
country, and occasioned all the connections which
marked his administration.
;, The Bank had not attracted much of public atten-
ton in political point of vew until it was pointed
out by his paternal and warning voice. unsafe
and dangerous institution. The consequences thai
ensued, Immediately proved that he right,-and
that they vain imaginary fears that acu-
ated him in doing Setting aside the question Of
right and wrong in the commencement, to the con-
test which arose. the simple fact, that the bank pos
sessed the ability to wage such contest alum
dant evidence that it possessed all the dangerous quail
ties that had been attributed it. and that its contn
uance was incompatible with the liberty of the peo
ple end the nature and genius of political sys
j TEN.
1t was instantly perceived that moneyed power per
fecuy irresponsible TO the people, had silently grow
up in their midst which could enter the political
and wage equal or doubtful warfare with their owl
constituted authorities. They saw that all the none
ary interests Of the country were greater or les;
extent, under the control of this institution that The
prices of all articles of commerce. and all the products
of labor and fell at Its bidding and that in
word, individual prosperity no longer dependan
on industry, skill, and enterprise, but the secre
e movements of concaye Of bank directors. Sucl
powers were IS hostile TO all the principles of democ
racy, they congenial to the sentiments ant
: views of those who leaned towards aristocracy
This contest, therefore, operated decisive test o
the political principles Of those who disposed
take part in it. and the natural consequence was tina
the old party lines which had been partially broken up
were Immediately restored. section of the old fcde
raj party which had supported General Jackson from
spirit of personal hostility TO Mr. Adams went bacl
to their old camp, and many individuals who had OPP
f posed his elections but who democrats In prnci
pie, rallied to his support Thus did the modern de
mocracy form around their patriotic Chief Magistrate
and from that moment he became identified with the
principles, and dependent them alone for encour
5 agement ard support.
With an issue thus distinctly tend cred and accept
t ed, aud parties thus arrayed, General Jackson wa:
again before the people candidate for their supper
f in 1882 He had distinctly announced his uualterab
determination TO sanction, by his APPROVAL tn,
continuance of that institution, the establishment
: Of any bank of similar character. Although per
haps, other considerations may have operated thu
election of that year, extent that relating t.
the recharter of the bank the great and all absorb
e ing question The result universally looked t
test of the popular will in reference that sub
ject The decision is well known; but the bank in
stead of quietly acquiescing Immediately prepared fo
ell aiflalalo