The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1857-12-11
THE BANK OF rae UNITED STATES


after having encouraged the system that has
brought all this trouble on us, are beginning
to assail, once more, the Bank of the United
States. The version which they publish,
all taken from that old Troy print the New
York Evening Post are all false, and the
Post must think people in general have ve-
ry short memories.
At the time Gen. Jackson was elected there
was nota whisper against the Bank. Nobody
dreamed that any enterprise vas designed
against It. The people were in the most
profound security. They had the best cur
rency in the world, and they appreciated it,
as they ought to have done. Jackson him
SELF profoundly ignorant and obstinate as he
afterwards proved himself upon the subject,
entertained no hostile designs against it. It
was not until President Bddle refused to
use his Influence against an officer of the
branch at Hartford, who had incurred Jack
sons dispeasure, that the latter determined
to avenge himself on the Bank. He could
say nothing against its credit for it was
perfectly unassailable. In his first or second
message, he broke ground, but he was not
at that time had money man. He stated
certain objections to the charter Of the Bank,
the amount Of which was that it was too
independent of executive infiuerce-he ad-
ded that, il permitted, he would suggest
such charter as he could sign. This was
the first avowed intimation of his design
II created great alarm, for nearly every body
foresaw the ruin to the affairs of the country
that must inevitably ensue, from the des-
traction of its credit. at last the Bank came
before Congress for a re-charter, and the
bill was passed by large majority. Jackson
vetoed the bill. This was in 1881. Imme-
diately every Locofoco press from the Globe
down to the dirtiest little village sheet open
ed upon it. All the dirty, low, red-mouthed,
ranting Locofocos of the whole land, ronred
against It. 1t was assailed on all hands, by
oil the bribed hirelings Of the most proAigate
Administration that this nation had ever be-
held. The stock understanding that all the
engines of the Government were directed
against their credit, directed Mr.. Biddle to
employ portion of their money in their de-
fence TO about half dozen editors, he
extended large accommodations. A commit
Tee overhauled the Bank. They found its
credit inexpugnable. They could not, they
dared not, say that it was not. lis stock, in
spite of the war waged upon it, still comman-
ded 1870. In proof ofits credit, foreigners,
to large extent, had taken this stock. 1t
was in demand every where But the COM
mittee reported that these editors had recei-
we'd Recommendations. That was inexcusa-
BILE. For men to defend their property, and
to spend their own money in doing so, against
a man who was squandering the money Of
government bv hundreds of thousands, in
the war against them, was atrocious. But
the worst thing against the Bank was, that n
large number of Englishmen, men of wealth,
owned its stock. "British gold" barked the
big watch dog of the Kitchen press "Brit-
ish gold," snarled five hundred village news
paper ours in the villages and by-places of
the land. "British gold!" roared the dema-
gogue at the cross roads. "British gold!'
responded the rowdy in the doggery. And
so this overwhelming proof of the credit of
the Bank was tortured into an accusation
against Biddle. The election of 1882 came
on! Jackson was re elected. He chose to
consider this re election MS n proof that the
people approved of his outrages upon the
Bank. He resolved to remove the deposites.
The Secretary of the Treasury alone has the
power TO do that. Secretary Duane refused,
alleging that they were safe, and that the law
did not allow them to be removed unless
they were in danger 81 take the responsible
ity," said sold Hickory" and he turned Du
ane out and appointed Taney TO do the job,
on the spot. Ten millions were found in the
Bank. They were taken out, and distributed
among three hundred pets. These pets were
constantly stimulated by letters from the
Treasury to expand their issues to the great.
est possible extent, that the people might
not feel the loss Of the Bank of the United
States. They obeyed, bursted and scattered
the deposits to. the winds. Jackson took
them out of the United States Bank, because
II fell in with his plans of vengeance on Bid
die. He neither knew nor cared whether
they we're safe in the Bank. We have heard
his sagacity much commended Of late. This
was rare proof of It certainly!
With all his efforts, and that OF his banded
cohorts, Jackson never was able to injure
the credit Of the Bank. He could kill 1t, but
he could not beat il. No institution ever
stood such war upon its credit. II wound
up in 1887, fairly dschnrging every obiga-
ton. As Bank of the United States it
was above all financial reproach. IL was
only when II was chartered by the State of
PENNSYLVANIA, as State institution, that il
failed.-Richmond Wing.
rW- The following is the statement Of
the Providence (R. I.) banks to November
10th: Circulation, $l,s4s,4ls; deposit, s2,-
sIl9i7; loans, sls,5s3,39O; specie, $751;
37l.'
tsY- Jones says that it's all folly for his
friends to tell him that he musen't enlarge