Washington sentinel. [volume] (City of Washington [D.C.]) 1853-1856, 1855-08-02

We few days ago noticed the fact that the
trustees of the Bank of the United States vii
make final dividend on the Goth of September
when the concern will cease in any shape to exist
The Albany Atlas, abiding to the matter, says:
g 1t has taken fourteen years to wind up the
concern, and at the end the stockholders lose all
and the other creditors get little. The bank was
originally chartered at period of great financial
depression and distress, when the failure OF
State banks, after the war had deprived the
people of currency. The constitutional objec-
tons to its existence lost sight OF in the de-
sire to secure its advantages. The Government
became holder of the stock to the amount OF
one. fifth of the capital, and il received the de-
posts of public customs. When the question oil
its recharter came up, the exigencies which had
called it into existence had ceased, and the OBJ
jections to it subsisted. The old Democrats, who
never believed that such institution was EN-
braced in the objects of the confederation, OF
was to be endured under Democratic interpre.
tation of the Constitution, renewed their obiec.
tons to its recharter. General Jackson believed
that all the public service required could be rem
dered by an agency more purely governmental
and which would not interfere with or regulate
the monetary affairs of the people.
"The bank had assumed the function of reg
ulator' of credits of the country, and assumed &c
hold a national Jurisdiction over State banks
while its own administration was based on the
same vicious system which made the local banks
so often delusion and nuisance. How Mr.
Biddle undertook to perpetuate his character by
the purchase of presses and the liberty of poll.
ticians is well known. With as much folly as
wickedness he contended that the bank had q
right to expend the money of the institution in a
warfare and upon the government, its leading
stakeholder. The panic, the distress committee,
the suspension, the revolution, bloodless, yet,
Al. a IL a
mense speculation of the bank followed. The
energy and wisdom of Jackson and Van Buren,
were successful, and the monster was Frustrated
though in its fall brought down State credit
and cast deep stain not yet eradicated upon the
American name. But though thus defeated, il
managed TO perpetuate its infamy by new phase
Of corruption. Under the pretence of improving
the common schools and assisting the internal
improvements of Pennsylvania, the old bank was
re-chartered as State institution, upon condition
of immense largesses to the State, and after well
known expenditure of money among the members
Of the two Houses.
"But this concern could not corrupt others
without becoming corrupt itself There rs law
that regulates the intercourse of vice, and
threatens it with dreadful punishment, having
their source in mutual foulness. The old Mother
Of denominations was rotten to the bone. Patches
and paint could not conceal the internal ravages,
and after waddling about few years in bloated
vice, she rolled over and died. There were gay
young politicians that haunted the house she
lived in. Where they What did they be-
Gomez The story has a moral in it, which time
has not failed to engrave deeply the history OF
the country, where politicians may gather future
instruction. II is that accumulation Of wealth,
however great, can hold an even contest with a
free people; that corruption cannot reach the
masses; and that politicians, who ally themselves
in a contest on the side Of associated wealth and
monopoly, against ideas Of popular liberty, be.
come suspected by the people, and no talents OF
virtues can outweigh the burden Of this suspi.
cionn