The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-08-25
The First Battle with Corporations,

AAEJ years dSO TIC OAuk "a TIC
United States was mighty power in
finance and politics. Mr.. Biddle, its
President, was ambitious Of still-greater
influence, and he desired to spread it oil
over the Union, through agencies which
he established. He succeeded in gath
ering around him many of the foremost
leaders Of that time, and, when the re-
newal of the charter was proposed, ma
iorities in both houses Of Congress
promptly passed the bill.
Gen. jackson had openly and formally
opposed the renewal, and he, therefore,
vetoed the bill. Not satisfied with this
signal disapproval Of that measure, he
determined to crush out the bank; and,
soon after his reelection in 1882, he
removed the public deposits from that
institution AMI put them II certain State
banks.
This act brought down upon him tho
most violent opposition, and the great
trio Calhoun, Clay and Webster, for
the first time, We're cordially united
against the administration. "A resolu-
ton severely censuring the President,
and declaring this act to be unconstitu-
tional, was carried through the Senate !;
but in after Years i wes expunged from
the journal Of that body.
This was the first memorable contest
against corporate power. The President
stood heroically against the seductions.
the social and political influences, the
wealth and the menaces which the bank
was able to command. Mr.. Duane,
Secretary Of the Treasury, resigned his
ONCE rather than execute the order to
remove the deposits. Other friends de-
serted Old Hickory, but he did not
move a hairs breadth from his original
purpose. His courage increased, or,
rather, it was more signally manifested
as the opposition became fiercer.
jackson knew what power the bank
had exercised outside of its legitimate
sphere, and he believed another charter
would enlarge its capacity for evil.
Therefore he took the responsibility,
which after half century can hardly be
appreciated, of comprising its over
throw. And he succeeded, as he did in
most Of his undertakings.
The people rallied around the Presi-
dent. They sustained him against the
great corporation, as they did against
the nullifiers, after he had threatened to
hang Calhoun rs high Us Hannah il he
persisted in his reasonable designs
against the Union. He had fought their
battles calamity and VIGOROUSLY, aud
their gratitude was great.
In the midst Of the struggle Gen.
.VOaEcnv, E..n 80 Al -
Of Jefferson, his great exemplar, which
is illustrated in the following extract:
The ambition which leads me on is
an anxious desire and q fixed determine
ton to return to the people, unimpaired,
the sacred trust they have confided in
my charge; to persuade my
countrymen, 30 far as may, that it is
not in splendid Government, sup
ported by powerful monopolies and
aristocratic establishments, that they
will find happiness, or their liberties
protected, but in plain system, void Of
pomp, protecting all, and granting IA
vors to none. 1t il such Government
that the genius Of our people requires. =
These truths made lasting Impress
ion and until the decentralization incl
dent to great civil war corporate power
was restrained within proper limits. Its
strides within the last twelve years, pro-
tected. strengthened and encouraged by
Grant aud Hayes, and by corruption in
Congress-, have been gigantic. Step by
step, corporations have seized upon the
avenues leading to possession of the
Government. They put one President
in by fraud, and another by the scandal
GUS use Of money. The present admin
istration is virtually composed Of monop-
olists and the champions Of corporate
power.
The contest between the people who
are oppressed and the corporations that
impose the burdens cannot forever be
postponed. 1t is FASTENED by new ag-
gressions. The greatest of opportunities
il offered to leader tit to conduct this
grand cause Of the many against the
few. We have faith that he will he
faupI Ne1, YarE Gam