Democrat and sentinel. [volume] (Ebensburg, Pa.) 1853-1866, 1855-08-01
VOL. 2. NO. Al.
from the Albany Atlas, July 1s.
The United States Bank.

Oh
The United States Bank.
The Philadelphia papers announce that the
Trustees of the Bank fof the United States
win make their fhaf dividend on the 20th of
September, when the concern VIII cease in ant
shape to exist It has taken sbdreen years
to wind up the concern ;snd at the end the
' eEhOlders @ lose ~ ard teotsr tsedisors
The bank was originally chartered. at a pc
Rod of great financial depression and distrex,
when the failure of State bank. after the wzr;
had deprived. the people Of currency. The
constitutional objections to its existancc were
lost sight of IN fhe dessre 20 sceure1ts advan-
Urges. The government Became a holder of
the stock to the amodit of oneisifih of the
Capital and it receittd' the deposits of the
Chstom House and the Land Office
When the question of its re-charter came
up, the ex;gencies which had called it into
existahceS had ceased, and the objections to It
subsisted. Tie Old Dem5crats,' who never
Believed that s1ch an institution was embrst
ced in the objects of the Confederation, or
was to be endured under a Democratic inter-
probation of the sCostitufion, renewed their
objections TO its fesehartef Gtnw' jackson
beli6vefs tightly, that al The public service
requited could be rendered BY an agency,
more purely goFernmeptA. and which would
net interfere with or &C regulate" the moneta-
ny of the people The Bank had assumed
the function Of regulator" of the credits
Of the country. and assumed to hold q nation
al jurisdiction over State banks, Whiie its own
administration was based on the Same vicious
system which made the local banks so often
delusion and nuisance -
> How Nj. Riddle undertook to perperuate
his character by the purchase Of presses and
the bribery of politicians. is well known.-l
With as much folly os wickedness he conten-
ted that the bank had right to expend the
money of the institution in warfare and
upon the government. its leading stakeholder
The panis, the distress committees, the stis-
pension, the reSolatiou, bfoodfes as yet"
the attempt to control the cotton market, the
immense speculations of the bank followed.
The energy and wisdom of jackson aud Van
Bprep Fere successful; and the monster was
prostrated;; though :ip its fall it brought down
State credit and cast the deep Stain, not yet
eradicated, upon the American name.
=, But though thus defeated, it managed to
pefpetuate its infamy by a new phrase Of cor
rup.ion Under the pretence of .s improving
the common schools and assisting the internal
Improvements of Pennsylvania = thee bank
was It-cudTtcltu az a Ctdtc i1fctttutious Atcn
condition of immense largesseB to the Stale,
and after well-known expenditure of money
among the members Of the two Houses Bat
this concern could moi corrupt others without
becoming corrupt itself There is a law that
regulates the Intercourse of vice, and threat
ems it with dreadful punishment, having their
source of mental foulness. .iss
The old Mother of Abominations was rotten
to the bone. Patches and pam. 'could NOT
conceal the internal ravages, and. after wad,
ding about few years in bloated vice. and
rolled over and died
There were gay young politicians that
haunted the house sha lived in. What are
they? What did they becomeg n
The story has moral in it. which Time
has not failed to engraye deeply On the histo-
-ry of the country. where politicians may
gather future instruction.. 1t is that aceumu-
lation of wealth. however great, can hold an
contest 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, becomes suspected
blythe people and no talents or virtue can
outweigh the bardsh of this suspicion.