The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1858-09-24
COLLECTION OF THE REVENUE.
[From the Richmond whil

e"ceP''oh 10 our arllcie OF The 9th upon this
subject. 1t says, in substance, shat were il
true that the United States Bank could col
lect the revenues at S4,o0O,00O less than the
sub treasury system, still the 100000
would be we'll expended in preserving the
country from the Bank. 1t then goes on to
say "the one preserves the other violates the
constitution" Here the whole question, ar
gued by the acutest minds that the country
afforded, is assumed. To enter INTO defence
OF the constltutionality of the Bank, would
be to reopen discussion which proved end
less in its day, and which, as we see no hope
OF its being restored until the necessity Of
such an institution shall have enforced re-
storaton, we shall not now enter upon, II
is sufficient to say that the charter Of the
first bank of the United States was passed
by the old Federal party and signed by
Washington-that il was passed by major
ity of votes during Madison's Administra-
ton, when the Republican party was in the
ascendant, and was vetoed by the President.
That the new bank was established in 1916,
by an overwhelming vote of the Republican
party, such men as Lowndes and Calhoun,
of South Carolina, and james Barbour, of
Virginia voting for il. That it was recon-
mended by President Madison, who certainly
understood somewhat of constitutional law
and that the bill was signed by him. That
when it came up for recharter in 1881, il
had a very large majority in its favor, in
Congress where Jackson had the almost un.
controlled ascendency. That Jackson him
ted States ,oas unconstitutional, for he de-
clared, in his veto vessage, that he could
furnish the plan of such bank as he could
sign consistently with his principles That
the question had been decided in favor of the
constitutionality of the bank by Chief Jus.
tice Marshall, who was thought to know
something of constitutional law in his day,
and majority of the Justices then present.
That the South Carolina delegation, with
hCDullc ~ tuciI ucuu, NOttu iot
OF the charter, and that the latter made the
ablest of all his speeches in opposition to
the removal Of the deposits. That Mr. Cal.
houn also opposed the removal of the depos-
its, and would, no doubt. have voted for the
recharter, had lie been in the Senate at the
time. ..., ..
The fact is, that NOBODY in the whole Uni
ted States, in Congress or out Of it, thought
about putting down the bank Of the United
States, until Jackson started the idea in his
first or second annual message. If it was
subsequently run down, II was purely from
Jackson's popularity. The question of con-
stitutionality had long been considered set
tied. And it was settled by the votes of
both the great parties, by the decision of the
Supreme Court, and by the opinions of the
wisest and ablest men in the whole coun-
try.
"The one" says the Democrat, "secures
to trade-so far as the range of the inhu-
ence goes, the kindly influence of natural
laws"
"I'he other subjects it to artificial stimu-
liant and anon to indiscriminate men, wrestling |
from it all that associated capital can, and re-
gardless Of consequences, so they conti-
butte to make the rich richer aud the poor
poorer" '
Surely, the Democrat must be perpetra-
ting grave joke upon its readers. The
mercantile and monetary condition OF the
was never so prosperous as il was,
and had been for years, before the removal
of the deposits in 1888. That may be said
to have put finishing stroke to the Bink OF
lhe United States. II ceased, indeed, to be
a bank of the United States, from that mo.
ment. AS soon as that moment arrived
banks sprung up like mushrooms all over tho
country. In 1888 there were less than three
iurdred. In 1887 there were considerably
m ore than seven hundred. Last year there
we're considerably more than fifteen hundred.
As soon MS the old bank vetoed in 1871 went
,ut of existence, a number OF new banks
to The increase in late years,
sprung up. At each Of these three periods
hey flooded the country with irredeemable
,bipplasters. AT each Of these three periods,
here was q crash which proslratcj all credit,
,nnihilated all industry, ruined hundreds Of
thousands, and set the prosperity OF the
country back at least half of century.-
The Democrat mistakes causes, while il de-
cribes effects with sufficient accuracy. 1t {
yns the mani of United States Bank, TO-
either with the want Of sufficient tariff,
hat did all this mischief The last crash {
would have come ten years sooner, had not I
be discoveries in California put it off, q
mother crash will come just as soon as ihe I
ountry RECEIVERS, If the present system is }
ontnued. HF
The Democra, says "the one (meaning the e
ank) subordinates the power and policy of a
he government to the caprices OF huge
liparchy of monied men," We are sorry TO
90 the Democrat repeating The slang Of The
emrrogues, whose advice has twice brought
10 county TO the verge of ruin The Uni
ID States Bank did not interfere in politics
was broken down because II refused 10 do
.. II had no power TO control the Govern s.
,ent. as any man can see by glance at its I
,pL .,ao,ant IA ntfamntad Ia do sn | %