Democratic Northwest. [volume] (Napoleon, Ohio) 1869-1894, 1886-08-19

numerous persons connected by minor and
tless conspicuous agencies and employments
4 with the banking system; nothing of the
thousands of depositors; nothing of the nu.
merous expectants who anxiously await the
hour when bank favors will be rneted out to
them, in reward for their clamorous support;
/ nothing of the long train of obscure and indi-
rect dependents. have said snothing of the
| influence which this system exerts over the
| numerous persons connected with other In
stitutions and companies, Incorporated
| throughout the country for purposes of in
ternal Improvement and other objects, by
| means of loans to and stocks held in those
institutions and companies. OF this vast, in
definite multitude I have said nothing:
and vet it seems that, without these,
/ the stockholders, borrowers, cashiers, CLERKS
and lawyers alone amount, at the low
est possible estimate, TO the number of
| two hundred and forty-five thousand men,
while the entire voting population of the
Union can not exceed sixteen hundred thou
sand persons.
And now ask, what man, who has a dollar
| of property, an arm to labor, or a wish to be
free, can behold this colossal power stand
| frowning on him without feeling the terror
of Its presence? Do you suppose that such a
power can exist in such a country this,
amidst tae furious collision of conflicting
being seized upon and perverted by ambition ?
II this be your opinion, II you can not think
| that there is in ambition ana avarice an in-
nate tendency to coalesce for q common OBJ
| iect, ask you TO look back for the last six
years and forward to the time to come. What
measure of practical legislation. apart from
the abstract principles upon which the two
parties stand, now divides them? The tariff,
internal improvements, notification, these
| questions all repose among the things that
have been. And yet the arlstocracy convulse
the land with their struggles for power. Ask
| them what law, if they had this power, they
| would repeal or modify, and If they answer
You, and that sincerely, they will tell you none.
Ask them what measure. in such an event,
they would propose, what law enact, and they
will tell you, a law to charter National
Bank. And why are they q party in favor
of q National Bank? 1t is because National
Bank is in favor of them. Why are the local
banks in favor of this party2 1t is because
this party are also in favor Of local banks.
Howis it that these banks are in favor Of a
National Bank9 1t is because they are all
parts of the same system, and because such
an addition would strengthen and perpetuate
that system. How does it happen that the
Federal party and the banking system har-
monize in every particular? II is because one
could not subslst without the othe other; be-
cause one nature is common to both; because
one are aristocrats, the other aristocraJic.
Bank charters are privileges conferred upon
money, and which give it, as stock, q produce
tive quality over and above that of all other
property. These privileges result from the
Legislative exercise of political power, and
| the banks, therefore. become: by the necessi-
ties of their nature, partisans in the struggle
| to acquire that power, in order to guard them
selves against the loss of favors, daily for
feited by abuse. Banks are politicians, be-
| cause they live upon political gratuities. and
| ii has not been among trs smallest of these
gratuities that they have hitherto enjoyed
the temporary use of all the revenues of
the Federal and State Governments of the
Union.
Thus far, feIlow-citizens, have sought to
illustrate the natural affiniLies by which the
Federal party and the banking system tend
| to unite against the democracy of numbers.
And now shall point your attention to the
last instance, and peculiar manner, in which
this union was openly formed and proclaimed
| to the world. You can not have forgotten
that, about the time when the recharter of
the Bank Of the United States began first to
| be agitated, the most distinguished leader of
| the opposition expressed and published q
think it was in the city of Cincinnati) a very
mbiguous opinion upon that question. Soon
| Alt6E t0AB fEesluoQb -JdCkSO2 BaEBcSLeQ Alb
opinion unfavorable TO the bank; and now
mark what followed. In an instant the same
| lesder. he who had. in 1911, pronounced q like
bank unconstitutional and dangerous to
public liberty, not only unfurled his flag in
its cause. but drew after MIN the whole body
of his party and the entire rabbie of the local
banks. Thus was the whole banking system
embodied In the hands of political party. of
which 10 has been the firm and steady sup
port from that day to this. Good faith has
been mutually observed. The system has
been liberal and true TO the politicians, and
the politicians grateful TO the system and
courageous In the conflict for Its life.
Jackson said No, and in o moment the
whole aristocracy of the county, in all the
ecstasy of anew discovery, cried out yes; the
Bank of the United States is necessary to reg
ulate the currency. by checking the increase
of local banks and the excesses of those that
already exist. The local banks themselves
chimed in the cry and petitioned in favor of
thai regulator, whose President had declared
he could crush them at will. But why demand
a resnlator3 Why such q regulator as this?
By SO doing the local banks said to the peo-
pie of the States: We have been chartered by
your people-our privileges are great; it il in
our nature to abuse them; to defraud you,
who have not the power to check our rapac-
ity and protect yourselves; and, therefore,
the Federal Government must place a master
over as. Most honest confessioni Most PEN
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