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


brought all this trouble on US, are beginning
to assnil, 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 We.
ry short memories. 40
At the time Gen. Jackson was elected there
was nota whisper against the Bank. Nobody
dreamed that any enterprise was designed
agninst II. Tho people were in the most
profound security. They had the best cur
rsncy in the world. and they appreciated Il,
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 ngainstit. It
was not until President Biddle refused to
use his influence against an officer of the
branch at Hartford, who had incurred Jack
sons dIspk'nssse, tastth Is:ser determined
to avenge himself on the Bank. He could
say nothing against its credit, for Il was
perfectly unassnilable. 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 inAuerce--he ad-
ded that, II permitted, he would suggest
such charter as he could sign. This was
the first avowed intimation of his design -
It created great alarmAf for nearly every body
foresaw the ruin to the affairs of the country
that must inevitably ensue, from the des-
truction of its credit. At last the Bank came
before Congress for re-charter, and the
bill was passed by a 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 uponit. All the dirty, low, red-mouthed,
ranting Locofocos of the whole land, roared
against it. It was assailed on all hands, BY
oil the brbed hirelings Of the most profligate
Administration that this nation had ever be-
held. The stockholders finding that oil 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. Acommt-
tee overhanled the Bank. They found its
credit nexpugnable. They could not, they
dared not, say that It was not. It's stock, iu
spite ofthe war waged upon It, stll commnn.
ded 1870. In proof ofits credit, foreigners
to large extent, had taken this stock. II
wns in demand every where. But the CON-
mittee reported that these editors hud recei.
we'd accommodations. That was inexcusa.
ble. For men to defend their property, and
TO spend their own money IN doing so, agans,
man who was squandering the money Of
government BY hundreds of thousands, in
the war against them, was atrocious. But
the worst thing against the Bank was, that Q
large number of Englishmen, men of wealth
owned its stock. "British gold!" barked the
/ big watch dog of the Kitchen press! "Brit.
, ish gold," snared five hundred village news.
paper curs in the villnges and by-places o.
: the land. "British gold" roared the dema.
3 gogue nt the cross roads. "Brtish goId!'
8 responded the rowdy in the doggery. And
: so this overwhelming proof of the credit o.
the Bank was tortured into mn accusation
against Bddle. The election of 1899 came
| on! Jackson was re elected. He chose tc
consider this reelection us a proof that thu
|. people approved of his outrages upon tht
|, 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
, Gid not allow them to be removed unles.
, they were in danger. "Ttakc 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 tn,
, Bank. They were taken out, and distributed
D among three hundred pets. These pets wer,
constantly stimulated by letters from tn,
Treasury to expand their issues to the great
est possible extent that the people nigh
h not feel the loss Of the Bank of the United
$ States. They obeyed, bursted and scattered
the deposits to the winds. Jackson tool
them out of the United States Bank, becaHs,
n it fell in with his plans Of vengeance on Bid
: die. He neither knew nor cared whethe
they were safe in the Bank. We have heart
. his sagacity much commended of late. Thi
was rare proof of il certainly!
8 With all his efforts, and that of his bande
cohorts, Jackson never was able to injur
!. the credit Of the Bank. He could kill II, bu
Q he could not bent il. No institution eve
. stood such war upon its credit. 1t woun
/. up in 1887, fairly discharging every obligu
J. ton. As Bank of the United States
: was above all financial reproach. 1t wa
y only when il was chartered by the State @
!. Pennsylvania, as State institution, that
g failed.-Richmond Wing.
n az The following is the statement @
the Providence (R. I.) banks to Novembe
10th; Circulation, Sl,s4s,4ls; deposit, %
is sli,2l7; loans, 8ls,5ss,ssO; specie, 1851
a 37l,' psih y 7o 'taya " '5o
y E Jones says that it's oil folly for hi
B. friends to tell him that he musen't enlarg
his debts, when he Is doing all he can I
% contract them.
e. WHAT AN OH HUSBAND is WoRrH-I
g the Circuit Court of Bedford county, Va