New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-24
classes of the nation. instead

| COMMERCIAL classes OF the na0On, instead
of the producing and laboring classes,
who form the great body of people in this
country. 1t may not be generally known
that scheme of this kind has been on
foot for some time. According to the New
York Journal Of Commerce, a proposition
was actually made more than a year ago
to start an immense bank in the city
OF New York, to act as a bank
Of redemption and clearance for banks
throughout the country. The sub.
jec' has already been presented to
Congress by Hon. Freeman Clarke, a
New York member OF Congress. but in
a manner that has been scarcely pb.
served. 1t is thought it will certainly
come before Congress AZ an early day. As
the idea is to make this bank the bank of
banks. it seems highly probable the Democ.
racy may entertain the purpose Of finally
establishing United States Bank. with
similar powers 20 the one broken up by
Presiden. Jackson. That was an institu-
ton. as jackson correctly thought. dan.
gerous to the liberties of the people. be.
cause it was a combination Of banking
and commerciai interests throughout the
country to control the money Of the gov.
eminent, and determine the election Of
President and members OF Congress. The
Herald being bank organ with Demo.
cratic tendencies, perhaps i. can tell the
people something about this huge scheme
to revive class rule in this country under
Democratic auspices. We do not ask
this. however, to increase the financial |
and Republican muddle that. according
20 Its own story. surrounds Oug contem. |
porary. and deprives it OF the power TO
see things as they :eall, are. And this (
brings us right down to its assertion |
that
The Repubfico. maintained the opposite
doctrine. and contended for the wisdom Of
The national banking system, which identi.
ties the banks and the government, because
It prevented the control of government by
the people.
The Herald has certainly missta.ed the
REPUBLICAN in the above extract. We
have never contended Tor any principle
that was calculated 20 take the contro, of
the government from the people: and
when We say ''the people" we mean some
thing more than class. We hare always
been enough Of Democrat to supper.
men in the presidential chair trying to do
their duty TO the people at large;
men who could not be used to further
class or sectional interest. when they
came in contact with the federal interest.
President jackson was eminently man
Of this kind, and in this respect he diff
Tered materially from the Calhoun school
Of Democrats. Yet We are inclined to !
think the Herald, If it was compelled to
make choice between these Two apostles
If Democracy. would side with the great
South Carolina chieftain, instead of the
nan who successfully throttled nullihca- I
ion, put down the great bank power and
paved the way for the establishment of
he Independent treasury system that the I
Herald pretends to admire so much. +
There is no Inconsistency in admitting
hat the independent treasury system Of
hat day was an improvement over the
ystem that had previously prevailed: and
he assertion that the REPUBLICAN has
yer denounced that system is simply an.
thes dodge of our contemporary 30 de- {.
GIVE the people. g