The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-05

Ill.
but the partisans of the bank In con-
gress were not idle. This part of the
message was referred in both houses
IN 'he house the committee on ways
and means, which until 1888 was bindly
IN favor OF the bank, made long report
arguing that the constitutionality of the
bank was settled by the decision of the
supreme court and by prescription.
II defended the history and ex-
pediency of the bank and ended
by declaring the vague hint
which the president had given Of
a substitute to be very dangerous and
inexpedient.
In the senate the committee on
finance also reported in favor of the
bank. But an examination of Biddle.
which was appended to the report, con.
ta'hed the answer to n question which
mad been put with a view to enable its
president TO exhibit the institution as
great just and benelicent HAS thc
bank at any time oppressed any of the
state banks?' Never" And. rs If
that were not enough, Mr.. Biddle went
on 10 say: There are very few banks
which might not have been destroyed
by an exertion Of the power of the
bank. None have been injured; many
nave been saved, and more have been
ana are constantly relieved, where it is
i"uhu that they are solvent but are suf-
ler'hg under Il temporary difficulty"
AS Benton remarks, This was proving
/ a nd
was Il power entirely too large to be
trusted to any man with a heart in his
bosom-much less TO II corporation with
out soul.
The house also. in May, 1890, tabled
by - TO GO resolutions that the house
would not re-charter the bank, and also
by % to a. series of resolutions call
ing Tor comprehensive report of the
proceedings of the bank. The bank,
forsooth in the minds of it's supporters,
was such bcnetcent and over-rulng
financial providence that it was almost
blaspheiny for even its chief stakeholder
the government-to inquire into it's nj.
FAIRS. AS result of this action of
congress the stock rose to 1870
But the great democratic party which,
by the admirable management of Jack
son and his supporters. was being re-
crnited and organized out of the popular
wing OF the old republican party, was
not yet in condition TO take positive
atr.on, and so the question lapsed for
Il time. In bic message Of 1880 Jackson.
true to his plan of keeping prominent
issues before the people, inserted another
paragraph on the subject of the bank
and proposed a new bank as IL branch
of the treasury department" The plan
was only suggestion, naturally some
what vague, bnt II approaches the sub
treasury idea (which has been in sue
q ~ hal ,A.t,s.
and shows plainly that jackson was still
I STRIVING to cmancipate the treasury from
the control of a private corporation of
'iinanciers." But little notice was taken
of this part of The message in the session
of 1S30-31. In the house, on test
question to refer to the committee of
ways and means, or to a select commit
tee the banks supporters won--l0S to
81. In the senate, however Thomas II.
Benton, whom Missouri sent TO represent
her for thirty consecutive years, began
that determined attack ON paper credit
money. which earned for him the proud
nickname Of odd Bullion" Benton was
JacksonS able lieutenant in the senate.
rs Polk was in the house, fancy in the
cabinet, Blair in the press, and being de-
voted to democratic principles and to
their great lender as perfect embod-
ment of them, and having ike him an
unbounded confidence in the plain peo-
pie" they We're able TO plan aud carry
out such campaign that routed the
forces of plutocracy ut every point.
Benton offered joint resolution in
the senate February .. 1890 that the
charter of the Bank of the United States
be renewed" He knew perfectly well
that it would be voted down, hut it gave
him the opportunity Of delivering great
speech, which was printed all over the
( country and set the masses to thinking
! N a in n 81
ion, the evils of government partnership
/ in private financial enterprises, using
the outrageous proceedings of the Bank
of England during the Napoleonc wars
to point his moral, and made scathing
attack on the branch drafts and
race horse bills" and pictured wildly
the evils of monopoly and the danger of
the arrogant and oppressive money
/ power. But. as he expected, the discus
| son was shut off after his speech by
/ the friends of the bank. An effort Of
! the secretary of war to remove tho
pension funds from the New York branch
| wae checked by the romonstrance of
Riddle. and Jackson, seeing that with
! the present congress il was impossible
! TO do anything. concluded his message
! of December, 1881, with the following
straightforward manly words concern
! lug the bank: Entertaining the opinions
! heretofore expressed in relation TO the
! lSNnk nl 1le lllAtu tNluNtS. as III plts-
Ont organized, | felt it my duty, in my
! former messages, frankly to disclose
them in order that the attention of the
| legislature and the people might be sea
sonably directed TO that important sub
iect Having thus conscien-
jiously discharged constitutional duty,
/ ! deem it proper on this occasion, with
out IL more particular reference TO the
views of the subject then expressed. TO
leave it for the present TO the ihyesti,
CATION Of an enlightened people and
/ their representatives.
But jackson had not only brought this
question to the consideration of an en-
4 lghtened people, he had been able TO
/ frighten the bank from its lair, force it
! forth and make il fight in the open.
| The issue could no longer be confused.
An opposition party aftcrward known as
he leadership OF the gifted but unsteady
Henry Clay. .Incksons dearest foe. This
party, whose mcmhers consisted of the
fragments Of the old Federalist party.
,..yotber with tho least democratic of