The miners' express. (Dubuque, Iowa) 1849-1854, 1852-09-08
Wftkly Grprrss,
WEDNESDAY MoPNlNG, SEPT. 8.

WEDNESDAY MORNING, SEPT. 8.
"Why Il %Unltsd States Bank A Powerful
Engine For The Party In Powers"
This question has heen submitted to US, by
an intelligent and rejecting foreigner, " no has
not as yet taken sides upon politics. We shall
reply to his question, although we have not the
space 10 enter into that detail, necessary 10
make so important subject entirely plain and
thoroughly understood, by those who have never
given it, much study. We trust however, that
we shall make it sufficiently plain, to give the
party directly interested, very fair idea Of the
light in which a u S. Bank and all kindred
measures, are regared by the democratic party.
First, We hold that all monopolies and exclu-
sive privileges, are burd-nsome to the people,
and when granted, should be entrenched with
such guards and restraints, as at lenst to pro.
tect the people from all exercise Of power which
Goes not legitimately belong to them and re.
Ii we them from burdens which arc not contem-
plated in their organization. Monopoly is the
first great originating cause, Of the difference in
the two political parties of the country. All
questions whicl.snow agitate the parties, or that
ever have agitated them, have grown out Of this
dangerous power. 1t has proved curse to the
masses in all ages of the world. 1t increases
the power Of wealth and dimnishes that of Ia
Dor. It fosters aristocratical distinctions and
classes, and enslaves the masses. 1t covets
political power, as much as it detests the Hber-
ties Of the people. 1t corrupts its vo,srie:, as
we'll as all legislation. 1t is exacting in its de-
mands, remorseless in its com6scations, soul
s3ess in the exercise Of its functions, with an
appetite for gain which is never satisfied and a
nav for the deposit Of it's spoils, which is only
limited by the world and human existence. 1t
has encouraged usurpa.ion, tyranny and blood
shed. Kings, despots and unprincirled dema-
gogues, have rode into power upon its internal
car, and by its irresistible force have bio def
ance to the voice Of justice and humanity
War, pestilence and famine frequently follow in
ills train 1t is the productive cause for nine
teen xwentieths Of all the evils Of human gov
ernment. 1t is for the restriction Of such
mower, that the democratic party ofthis country,
has always rec~ '.horing. 1t was to protect
the country from its evils, thar r~s.--.d Mr. JEFF.
ferson, when Secretary Of State under Gen.
Washington, to bes.ow upon that adninstra.
tion at the request Of the President an elaborate
opinion upon the evils Of Omitted States Bank.
It wa. the same which induced Madison, Mon.
roe, Jackson, Van Buren and Polk, to discredit
all banking. 1t was what prompted Mr.. Clay
in 1911 fwhen democrat> to denounce the
bank with such vehemence and power.
And now we come right down to the point,
"whv is United States Bank powerful engine
for the party in powcr'' Because IT controls
an immense amount Of wealth, which is admin
istered by the party in power. Ii it desires to
extend the field of its operations, it can do so by
extending its credit, circulation. II it desires
to make lts power felt, aud its enemies, or those
whom it must use, experience the gripping pro
cess which it introduce, it contracts Its Is
sues and produces the greatest amount of dis
tress of which it is capable. This was repeat
edly done during the existence OF the Old Bank
and therefore are the frequent financial convul
sions which characterized that period, fully &c
counted for Such an institution would neces
sarily involve the necessity Of establishing var
Gus branches throughout the country and in the
several states; would involve the necessity o
a vast number Of Agents, Clerks and othe
| . ro1l inn inf n
ence in every state. Aside from this power
which would be immense and therefore th'
more dangerous, it would hold controlling in
luence over the State Banks, either to unite
them in crusade against one, or the other party
or TO obtain such an influence over their affairs
a. to distress them at pleasure and command
their reluctant aid in whatever policy it nigh
des,re to carry ont. Entrcnched with such
gigantic power, as that Of the united Bank cor
porations of the country, extending accommo
dations to- and relieving the necessities OF every
commercial and manufacturing town Of AM
importance, who can presume to form any cor
rect estimate Of tAe wide and ,oithering influ
ence OF such power, upon the elections, insti
tutions and destnies Of our country. Will m.
sane man pretend, that the money power of tn
country united and directed for the accomplish
ment ofa particular object, would fail to attai
that object! And will any man presume I
question that this power would be exerted when
ever interest should dictate? Banks are for tn
accommodation Of the people, and although bu
a small portion of the people are in reality &C
commodated by them, yet those that reap thel