The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1879-01-23
SPEECH OF


before the 9Th of
January Convention at CO.
lumbus.
At the conclusion of the welcoming
address, General Ewing arose and
to the first toast on the list,
&c The next President of the United
States," as follows:
"We are met to commemorate tho
public life of one who, next to Jeffer-
son, best represented the fundamental
idea of Democratic Goverment-'equal
rights to all,speclal privileges to none.'
Our Republic at its birth cast off the
more obyieus devices of government
by which aristocracies through all
time have subjugated the masses. Or
ders of nobility, laws of primegeni-
ture and entail, life tenures of politi-
cal Office, exemption of classes or in
terests from taxation-all were swept
away. But in Washington's first
term our forefathers unfortunately
here q scion of the Bank
Of England, incorp GRATED as the Bank
of the United States,' and sold to that
private corporation the sovereign pow
er to make money, and thus to rule
tho business of the people by chang
ing at pleasure the values of their Ia
Dor and property. Hamilton and the
lovers of strong Government favor
ed the banks; so did Madison and
most of the State Rights Republicans !;
and Washington, too, who sat peer
less above all party classification. The
instinct of Jefferson alone
saw and condemned in 1t the evil
principle of an alliance between the
and a class, and the sur.
render of sovereign prerogative to .
favored few, which would in time
breed a money aristocrscy such as has
ever sat behind all thrones aud chairs
of State, and enriching itself by the
subtle devices of power, brought the
masses to poverty and the nation to
decay.
Renewed in 1916 without serious
except from Jefferson, who
maintained that the Gen.
eral Government alone should issue
the paper currency, the bank reached
the end of it's second lease of power
in the last term Of Andrew Jackson.
by the fathers of the Re-
public; its constitutionality settled by
the Supreme Court; its power and its
capital swollen four-fold; sustained
by the press, by the great commercial
and manufacturing interests, by all the
Wing party, and by a powerful wing
of the Democracy-a renewal of it's
charter seemed q foregone conclusion.
Every consideration Of party concord
and of Administrator success appeal.
cd to Jackson to let the bank alone.
A weak man, or a strong but selfish
man, or one who saw no evil princi-
pie in bank money and Government
alliance with the bank, would have
favored or acquiesced in a renewal OF
its life. But dismissing Duane from
his Cabinet-driving from his party
Rives. Wise, Tallmadge, Williams, the
Grahams, the Strongs, and other pow
erful leaders-amid = storm of denun.
citation from the giants of the Senate
Old Hickory struck down the bank,
and vindicated the vital principle OF
Democracy that the Government
should have no private corporation
for a mistress to share or usurp its
sovereign power.
This memorable conflict is often
spoken of as fight for hard money
against soft money! for mint drops
against rags by men who have learn.
ed by rote the catchwords of the con.
test, but never learned its purpose.
Said Jackson, in his farewell address
The corporations which create the
paper money can not be relied on ia
keep the circulating medium uniform
in amount Aud in his message in
1929 he said: Il submit to the wisdom
of the Legislature whether . national
system, founded on the credit of the
Government and it's revenues, might
not be devised which would avoid all
constitutional difficulties, and at the
same time secure all tho advantages
that were expected to result from the
present bank So that Jackson meant
to accomplish by his contest with the
banks just the purpose of the memor'
able declaration Of Jefferson: Bank
paper must be suppressed, and the cir
culation restored 10 the nation tC
whom it belongs
Near half century has passed, ant
the people are confronted with the
same question, greatly magnifed il
dimensions and importance. We hay
now a confed dcration of two thousani
United States banks instead of one
with a capital of over $500, O,O0O,O 900 in
stead of $35,OOO,OOO, and with loan
of nearly $1,000, 100000. They arr
the arms of Briarean money power
reaching every quarter of our land
and holding every business man ant
business interest in their grasp. In
stead of being the handmade of tn
Government, they are its rulers. Th
representative Of the Treasury De
partment timidly crouches in q sea
in their Clearing house while they in
solently nullify the laws. From 18G
until 1876 they fastened on us serie
of finance measures which have doub
led the burdens and woes Of the wal
spawned hundreds of millionairea
and broken more hearts than woul'
pave Broadway from Central Park t
the Battery. To complete the wor
of degradation and subjugation of th
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