The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-11-02
WILD CAT AND THE PANIC OF ~.


We will commence investigation during
the administration Of President Jackson
At that time there was National bank
which as a monied institution was entirely
safe and responsible. In this bank the
public monies were deposited. President
Jackson went into Office embittered against
this bank because he thought the managers
Of it opposed his election. He ordered the
funds belonging to the Government TO be
removed from this National bank and had
them deposited in irresponsible State
banks. This National bank was furnish
ing the people with sound currency from
Maize to Louisiana, which were then con-
sidered the extensive limits CT the Union.
Congress in 1882 passed the act recharter-
ing this bank and It was vetoed by the
Democratic President and his action was
erdorsSd by q large majority Of the leaders
Of the Democratic party.
During Jackson's administration in 1882
a portion oil the Democratic party headed
by John O. Calhoun attempted the high
handed measure Of multiplying the laws OF
Congress. 1t is true that the President
suppressed this movement and swore "by
the Eternal the Union must and shall be
preserved" and he should have due credit
Tor this, for 1t covers a multitude Of his
political sins.
As result Of President Jackson's veto.
ing, the National bank, State banks
sprarg up all over the United States, many
Of them partskiug Of the wildcat in their
character, const quently suspended and
broken banks soon became the order Of the
day. Tho reault Of all this was the terrible
money panic q 1887 and general financial
distress throughout the whole country.
Thousands Of wealthy business men were
irretrleyably ruined by this crash.
A THREE MILLION STEAL.
Il was during the Democratic admins.
ration oiMaltin Van Buren, that the larg-
est robbery known 10 the history OF our
government was perpetrated. Samuel
Smsrtwcod stole three millions
President Polk administration, which has
thecredit oil being one Of the bestDemocralic
administrations known 10 our history, was
nevertheless attended with blundels. It
wGs during this administration that the
Oregon question was settled. The Presi-
dent and his RdheIents claimed that The
northern boundary Of Oregon should be
nity four degrees and forty minutes Of
orth lititnde, and adopted it as their ulli.
matum. They were constantly uttering
i.,lr refrain, "lif:y four, forty or fight" but
no sooner did they learn that Queen Vic.
toria VAS manning her war ships than they
became ss gentle as sucking d YES and &C
quiesCed in the settlement Of the northern
boundary OF Oregon ct iorty-nine degrees
and thirty minutes north latitude, thus
suddenly seeding five degrees and ten
MINUTES and tamely yielding 10 the British
government this amount OF territory. do
not ascrine the fault so much 10 the settle
mept as 10 the braggadocio and bluster Of
the President and his party in the incipi.
ency OF the negotiations relating to it.
They laid claims to territory that they could
not sustain by eny principle Of interna.
tional law.
l will psss on 10 the administration OF
FfaDklin Pierce. 1t was during this sd.
minis!ration that the Kansas Nebraska bill
became law, and the Missouri compro.
mise las repealed, which wss the open.
ing OF q pandora's box that scattered o kind
q political plague through the whole
United States.
TREASON IN the WHITE uoUsE-RrspoSsIBI-