The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1892-07-15
SHALL WE TRY 1T AGAIN.

The Herald, i'll recent article on the
use of campaign funds, refers to the pc
culiar character of the Harrison campaign
of 1910, which was kept up with great
vigor for nearly year. 1t is stated as
an evidence of it's spontaneousness that
men readily left their business in the day
time to engage in political meetings and
celebrations. There are yet many living
who can attest to the truth of the almost
universal giving up of business to poll
tics, for the reason mainly that there was
little else to do, and the revolution in the
Government which followed showed the
intensity of the public feeling. Very in
nocently the cause of that great "commo-
tion-motion," in the language of the
popular song of that day, is quietly left
out of sight, lest some of the Democratic
masses should learn something which
would enlighten their eyes upon the
beauties of Jackson an-Buren Demo
cracy, which are becoming popular in
these days. The autocratic power of
Jackson, so much vaunted then, but
power now deprecated as of great dan
ger to the people, caused the removal of
the Government deposits from the Uni
ted States Bank to State banks, styled
deposit banks, but more generally known
as pet banks from their management
by friends of the administration. These
funds of the Government were mainly
used for speculative purposes, and there
ensued period of prosperity, as it was
called, which demanded the charter of a
multitude of banks throughout the coun-
try, with little or no capital, to make
money easy, and loans to everybody.
The Free Silver advocates, Greenbackers,
and those who wish return to State
bank issues, all of which make up the
larger portion of the Democratic masses
clamoring for more or an easy currency,
appear resolved to enter upon the same
wild, impolitic schemes which will end
only to ruin to the masses with the
building up or fortunes and monopolies
by the shrewd, cunning, and those who
are already millionaires.
The lesson to be learned is that reac-
ton followed the initiation period, to an
almost universal bankruptcy of the coun-
| try in 1887, when the worst failures were
the pet or Government banks. Pros
pective cities throughout the West, no
less than speculative schemes in the
East, came to an end as in a flash, and
multitudes of young men who went out
to make fortunes in merchandising were
forced to the land to get their bread.
hO VIM AOu uOb anu JULIET
currency, so plentiful, became worthless,
and it was long time before such banks
as were solvent were able to resume
specie payments. When men talk of
hard times they know little of the straits
to which the working classes were reduc-
ed at the time. So universal was bank
ruptcy and so difficult to get relief from
insolvency that the reaction was neces-
sarily slow. The crash came Immediate
ly after the Inauguration of Mr.. Van
Buren, as President, and although he was
in no way responsible for the disasters
which fell upon the country, unless as
executor under the will of Gen. Jackson,
his administration was forced to bear
all the responsibilities therefor, notwith-
standing the famous saying of jackson /:
81 take the responsibility" The people
bore up under their burdens as we'll as
they could, and were ready to devote all
their energies for the election of his sue
cessoT, the unanimity of which was one
the mostremarkable in the history of the
country. The question now recurs, are
we ready for repetition of like disas-
trous rehabilitation Journal.