The daily union. [volume] (Washington [D.C.]) 1845-1857, 1855-07-31
WASHINGTON, July 81, 1855.
From the Albany A,las, July 49,
THE UNITED STATES BANK.

The Philadelphia papers that the trustees Of
the Bank Of the United States will make their final dvi-
dend the Goth of September when the concern will
in any shape TO exist 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 originally chartered period of great
financial depression and distress when the failure the
State Bank after the war; had deprived the people of
currency The constitutional objections to its existence
were lost sight Of in the desire its advantages
The government became holder of the stock to the
amount Of oneh of the capital and IL received the de-
postes Of the custom-house and the Land Office.
When the question of its rccharer came up the ex-
gcnces which had called it into existence had ceased and
the objections to it subsisted The old democrats who
believed that such institution was embraced in
the objects of the confederation be endured I'M
der democratic Interpretation of the constitution re-
newed their objections to its recharer. Gen. jackson
believed rightly that all the public service required could
be rendered by agency purely governmental and
which would interfere with or regulate" the none
tary affairs of the people. The bank had assumed the
function off regulator Of the credits Of the country
and assumed to hold national jurisdiction over State
banks while its own administration based on the
vicious system which made the local banks SO often
dcuson and nuisance
How Mr.. Bddle undertook pepetuate his character
by the purchase of presses and the bribery of politicians
is well known With much folly wickedness he con-
tended that the bank had right expend the money of
the institution in warfare and upon the government its
leading stockhoder The panic the distress committees
the suspension, the revolution bloodess YETI the
tempt control the cotton market the immense specua
lions of the bank, followed The energy and wisdom Of
Jackson and Van Buren, successful and the MON
Frustrated; though in its fall it brought down
State credit and the deep stain, yet eradicated
upon the American name
But though thus defeated it managed TO perpeuatc its
iufamy by phase ofcorrupton. Under the preence
of improving the schools and assisting the
ternal improvements of Pennsylvania the old bank
recbarered State institution upon condition of i'm
largesses the State and after wellknown ex
pendure of money among the members the two houses
But this could not corrupt others without
ing corrupt itself There is law that regulates the inter-
of vice. aud threatens it with dreadful punishment
having their source of mental fonlness
The old mother of denominations to The bone
Patches and paint could conceal the internal rayages
and after waddng about few years bloated vice she
rolled and died
There gay young politicians that haunted the
house she lived in What they2 What did they be-
come?
The story has moral in it, which time has not failed
engrave deeply the history of the country where
politicians may gather future instruction II is, that
accumulation Of wealth. however great hold even
with free people, that corruption cannot reach
the masses; and that politicians who ally themselves in
contest on the side Of associated wealth and monopoly
against ideas of popular liberty become suspected by the
people and talents virtue outweigh the burden
of this suspicion.