Greenbrier independent. [volume] (Lewisburg, Va. [W. Va.]) 1859-1980, 1896-10-22
A Leaf from History.
HOW ANDREW JACKSON HANDLED
NICK BIDDLE.

States. He was one of the braves
and truest men the public life Of ou
country has known. His sympa
thies were with the people. III,
would consent to no law or construc
ton of law which impaired thei
rights, or permitted any class of mer
to secure an advantage over the peo
pie. Then, as now the people were
substantially at the mercy of the
money power. In the year 1915
Congress has chartered the United
States bank. Its headquarters were
in Philadelphia. It's charter ran fol
twenty years. The capital of the
bank is S35, 100000. This bank wa:
chartered to aid the government in
its monetary operations and in order
to facilitate the business of the gov.
ernment. There was no United
States treasury such as we have now
but all the public moneys of the
United States were required by law
to be kept in this bank. 1t had
branches everywhere, and they were
repositories of government funds
This bank and its branches issued
their own paper money. The law
authorized the issue of $500 in pa
per for every dollar of capital in the
bank, with scarcely any restraint
against the issue of 500 of paper
for every dollar of stock. AS mat.
ter of fact, this was often doue.-
Nicholas Biddle, of Philadelphia,
was president of this bank. He was
the money king of that day far
more absolutely than J. Pierpont
Morgan, of New York, is now in
our day. He was practically the
dictator in all money operations of
the country. He was a Democrat
and man of great ability, who had
supported Jackson in 1928 when
first elected President. He lived in
a marble palace on the bank of the
Delaware, fifteen miles from Phila-
delphia, and was regarded as the
wealthiest and most powerful man
of the country. When he travelled
from Philadelphia to Washington,
New York Baltimore or any other
part of the country thousands con-
gregated on the roadsides and at the
towns and villages to see him.
Jackson had observed the work.
ings of the bank and that instead of
being help to the government, it
was the most dictatorial, tyrannical
influence in the country. 1t nomi-
mated, elected and defeated at will
in all parts of the country, and had
its hands in every convention and
used the public moneys for that pur-
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a patriot.
Such practices were not only dis
honest, but were hateful to nim.-
The charter of the bank was to ex-
pire in 1896. Before the second
Of Jackson in 1882.
Biddle, the great political
and financial boss, called i'm state
upon Jackson to confer with him
upon the extension of the charter of
the bank. He knew that Jackson
was hostile to many of the practices
of the bank, and would probably op-
pose its charter. He told "Old
that merchants, business
men, traders and all classes of peo-
pie were indebted to his bank and its
branches in all parts of the country
and that these banks could control the
the elections in every State in the
Union, and could either renominate
or defeat the nomination or election
Of Jackson himself.
This statement aroused the lion i'm
the heart of the old hickory Presi-
dent, and he replied Well, Mr..
If your bank and you can
make and unmake Presidents, Gov
ernors, Congressman and United
States Senators, and I am ready to
admit that what you say is true,
that it is damned sight too much
power for any one or an institution
to hold, and I'll tell you now that,
by the Eternal, If you bribe Con.
gress to recharter your bank, | will
veto the new charter"
Then the great, rascally money
king set his head to defeat the elec-
ton of the greatest Democrat ever
born. He and his branch banks be-
gan to purhase the leading Demo-
cratic newspapers of the country,
and bribe the most influential ora
tors in the party. Seeing the whole
sale bribery going on, Mr.. Jackson
said TO MIR. Duane, secretary " Mr..
Duane, l don't want you TO put any
more government money in that
bank. 1t will blow up. Its man.
agement is corrupt, and it is no
longer safe" But Mr.. Duane was a
man, a banker in sympathy
with the money conspiracy of the
time. He replied to Jackson that he
could not obey that order. Then
" Old Hickory" without further
removed him and APP
pointed Roger B. Taney i'm his place.
The whole organized power of the
country was against Jackson. The
great Democratic newspapers which
had supported Jackson's first election
and many Of the great Democratic
orators likewise, said they would
like to keep the party together but
could not support Jackson in his
fight against the bank. Their prin-
ciples and consciences would not al
low them. They held honest
money" meetings and "honest
Democratic conventions" all over
the land. A big "honest money"
meeting and barbecue was held in
Philadelphia, at which 80, 900 people
were fed at the expense of the bank.
There were 800 "honest Demo-
cratic" vice-presidents Of the meet
ing who had voted for Jackson the
first time, but they could not, in JUS
tice to themselves and the Demo-
cratic party, do so again. 1t looked
for time as if the immense infiu-
ence of the bank and money con-
spiracy would beat "Old Hickory"
But 1t soon became apparent that
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