The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-11-04
-Geherai Jasssen on the isa a.ks.

sames K. Polk upon the banking system aud
those abuses which are nseparabiy connect.
ed Whit, for The purpose Of educating and
informing theljudements of the masses upon
The great question OF currency which is now
justly claiming a prom ineni position in the
affairs OF This country. To-day we give the
views OF banking OF that great apostle of de
mocracy, Andrew JACKSON, on the subject
Hear whatdhe old Hero says in bis farewell
address 10 'his ro,nirymen:-Rsn RsnnsYlra,lian.
-H"ihe severe ieseoes ofrexperence will, 1
doubt not, be sufficient TO prevent Congress
from again charIefng such monopoly, Gas
the Bank Of he United States,) even il the con-
stitu,ion did not prevent au insuperabIe OBJ
lection TO it. But you must remember my
fellow citizens, that eternal vigilance by The
people is The price of liberty; anc that you
must pay the price If you wish TO secure the
blessing. 1t behooves you, therefore, 10 be
watchiul in your States, as well as in the
Federal Government. The power which the
moned inleres, can exercise, when concen-
rated under a single head, and with our
present system Of currency, was sufficiently
demonstrated ia the struggle made by the
bank OF the US Defeated in the General
,.as -l~s- Of ;...;suvr, any,
politicians will now resort 10 the States, and
endeavor 10 obtain there The same oiganiza-
ton which thew. failed 10 perpeuete in the
Union; and with specous and deceiliul plans
OF public advantages, and State interests, and
State pride, they will endeavor 10 establish,
in the different States, one monied iaslhuuon
with overefown capital, and exclusive prvi.
leges sufficient 10 enable il to control The op
erstions of the other banks Such an ips,i.
luton will be preguant win The same evils
produced By The .Bauk Of the United States,
ai'ho"sh its sphere of action is more con.
lined; and in lhe STATE in which il is charter.
ed, The mouey power will be able to embody
its whole strength, and 10 move together with
undivided forces 10 accomplish any object il
may wish 10 obtain. You have already had
abundant evidence Of lis power to innic, ia-
jury upon the agricultural, mechanical and
laboring classes of society; and over hose
whose engagements in trade or speculation
render them dependent on bank facilities,
The dominion Of the Stale monopoly will be
abolished, and their obedience unlimited
With such bank, and paper currency, The
money power would IN lew years govern
The State and couirol its measures; and II a
sufficient number oil SAFES can he induced
10 create such establishments, the time will
soon come When il will again lake The field
against the United States, and succeed in
periecling aud perpcluaIing its organ izalion
by charter from Congress.
at is one ol The serious evils of our pres
ent system OF banking, that il enables one
class OF socieiy-and that by no means q M.
merous one-by lis control over the currency,
10 act inlurionsiy upon the interests of all
the others, and 10 exercise more than its pro.
portion of influence in political affairs. The
agricn Iural, the mechanical and the labor.
ing classes, have liule OF no share in The di-
recIon OF the great moneyed corporations !;
and from their habits and the nature OF their
pursuits, they are incapable OF forming ex.
tensive combinations TO act together with
united force. Snch concert oil action may
sometimes he produced in single city, or
j" small district Of country, by means of
personol communications with each other;
hnt they have no regular or ac,ve corfespon.
dence with those who are engaged in simi.
lar pursuits in distant places; lhey have but
little patronage TO give 10 the press, and ex
ercise but small share of influence over il
they have 10 crowd or dependents about
them, who hope 10 grow rich without labor,
by thei. cauhtenance and favor, and who
are, therefore, always ready 10 execute their
wishes. The planter, The farmer, The me-
chanlc, and lhe laborer, all know lha: their
success depends upon their own industry
and economy, and that they must not expecl
to become suddenly rich by The fruits oI
their soil. Yet these classes of society form
The great body OF. the people of the United
States; they are the bone and siuew of the
country; men who love liberty and desire
nothing but equal laws, and who moreover,
| hold the great mass of our national wealth
although ii Is distributed in moderate amounts
among the millions of freemen who possess
it. But with overwhelming numbers and
wealth on their side, they are in constant dan.
ger Of losing their fair influence in The gov.
eminent, and with difficulty MAINTAIN ,beil
fjusl rights againsi the i0cessanl efforts daily
made 10 encroach upon Them.
"The mischief springs from the power
which the moneyed interest derives from 8
paper currency which they are able 10 con
uol. from the multitude Of corporations with
exclusive privileges, which they have sue
ceeded in establishing in The different States
and which are employed altogether for lhpi
benefit; and unless you become more watch
ful in yonr Sales, aud check this spirit q
monopoly and thirst for exclusive privileges
you will, ia Tie end, find that the most i'm
power of government have been gwen o
parted away, and ihe control over your d,ar
est interests has passed inio The hands o
these corporations. a... .
ag "fhe paper money system, and its naiu
raj associates, monopoly and exclusive priv
ileges, have already struck their roots ueeI