The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-09-11
ANDREW JACKSON AND THE DE-
MOCRACY OF 1879.

The Republicans have dared to invoke
the old hero as witness in favor of their
conduct aud against ours, and we have
perhaps neglected to tear the mask from
their faces; but it is never too late to
do right. We present, therefore, to our
readers the essence Of Jackson's views
on paper money and banks. In his
eighth annual message he said:
"The lessons taught by the Bank Of
the United States can not we'll be lost on
the American people, They will take
care never again to place 80 tremendous
power in irresponsible hands, aud it
will be fortunate, if they seriously con-
slider the consequences, which are likely
to result on smaller scale from the ia.
cility with which corporate powers are
granted by their State Governments"
Here the principal of opposition to
both National or State Banks, to be au-
thorized to issue paper currency for the
country, is distinctly and firmly an.
announced.
In his veto message July 18, 1882,
Jackson said:
"The Government is the only proper
judge where Its agents should reside
and keep their offices. \
1t can not, therefore, be necessary or
proper to authorize the Bank to locate
branches where it pleases to perform the
public service. X The principal laid
down by the Supreme Court comedies
that Congress can not establish a bank
for private speculation and gain, but ou-
ly as a means of executing the delegated
powers of the Federal Government. By
the same principal, bank branch can
not, constituionally, be established for
other than public purposes"
Can there be more emphatic decla-
ration against the creation and mainte-
nance of our present National Banking
system2 In the same message he
writes:
Banking, like farming, manufacture
ingor any other occupation or profession,
is business, the right to follow which
is not originally derived from the laws"
Here the true freedom of banking is
announced, but it does not contain the
right to issue paper money; nor the crea'
ton of any credit for bankers by act of
Congress. Jackson follows this same
train of thought up in the same message
by these words;
"Many of our rich men have not been
content with protection and equal bene-
fits, but have besought us to make them
richer by act of Congress, By attempt
ing to crafty their desires we have, in
the results Of our legislation, arrayed
section against section, interest against
interest, and man against man, ia fear
fu commotion, which threatens to shake
the foundations Of our Union"
Mark the graphic language of this pas
sage and ponder on what follows:
"If we can not, at once, in justice to
interests vested under improvident leg
islatlon, make our Government what 1t
ought TO be, we can at least take stand
against all new grants or monopolies and
exclusive privileges; against any prosti
tutlon OF our Government to the ad,
the many"
Who has the hardihood to say, in the
face OF this passage, that Jackson. were
he alive to-day, would not cooperate
with the Democracy in its opnositfon In
the renewal Of the charters Of onr Ma.
tional Banks, and to their further issnes
Of paper money!
The old hero quotes approyinglv In
his protest, April II, 1884 the following
from proceedings Of the Ohio Lerislas
ture: