Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-08-30
AS JACKSON REGARDED 1T.

4N c@AOAAOOAN IL
The goldbug howlers who are parading
themselves just now in the interest of the
money power which is really the nation
al banking power, and talking about pre-
serving. the principles promulgated by
Jefferson and defended by jackson,
should read carefully the following taken
from Jackson's farewell address. If he
were alive today, who doubts that he
would exclaim: "'By the eternals, you
goldbugs cease the use of my name in
your efforts to enslave my people,"
But when the charter for the Bank of
the United States was obtained from con-
gresS 1t perfected the schemes of the pa
per money system and gave its advocates
the position they have struggled to OBJ
tain from the commencement of the fed
eral government down to the present
hour. The immense capital. the peculiar
privileges bestowed upon 1t, enabled it
to exercise a despotic sway over the 9TH
er banks In every part of the country.
From its superior strength 1t could Sc
riously inture, IL not destroy, the bust
ness of any one of them which might in
cur its resentment; and 1t openly claimed
for itself the power of regulating the cur
rency throughout the United States. In
other Words,it asserted (and undoubtedly
posSessed) the power to make money
plenty or scarce at its pleasure al any
controlling the issues of other banks and
permitting an expansion or compelling
general contraction of the circulating
medium according to its own will The
other banking institutions were sensible
of Its strength, and they soon generally
became it's obedient Instruments, ready
at all times to execute its mandates; and
with the banks necessarily went also that
numerous class of persons in our COM
mercial cities, who depend altogether on
bank credits for their solvency and
means of business and who are, there-
fore, obliged, for their own safety, to pros
pitiate the favor of the money power by
distinguished zeal and devotion in its SER
vice. The result of all this ill-advised leg
islation, which established this great
monopoly, was to concentrate the whole
monied power of the union, with its
boundless means of corruption and its
numerous dependents, under the direc-
zion and command of one acknowledged
head-thus organizing this particular in
terest as one body, and securing to 1t
unity and concert of action throughout
the United States and enabling 1t to
bring forward, upon any occasion, its en-
tire and undivided strength to support
or defent any measure of the govern
ment. In the hands of this formidable
power, thus perfectly organized, was also
placed the unlimited dominion over the
amount of circulating medium, giving IL
the power to regulate the value OF prop .
erty and the fruits of labor in every quar-
ter of the union, and to bestow prosperity
or bring ruin upon any city or section OF
the country as might best comport with
it's own interest or policy.
1--WE are not left to conjecture how the
moneyed power, thus organized and with
such weapon in its hands, would be
likely to use 1t. The distress and alarm
which pervaded and agitated the whole
country when the Bank of the United
States waged war upon the people in or
der to compel them to submit to it's de-
mands, cannot yet be forgotten. The
ruthless and unsparing temper with
which whole cities and communities were
oppressed, individuals impoverished and
ruined and a scene of cheerful prosperity
suddenly changed into one of gloom and
dependency, ought to be indelibly inn
pressed on the memory of the people of
the United States. If such was its power
in time of peace, what would 1t not have
been in season of war with an enemy
at your doors? No nation but the free
men of the United States could have
come out victorious from such contest;
yet, If you had not conquered, the gov
eminent would have passed from the
hands of the many into the hands of the
few, and this organized money power,
from its secret conclave, would have die
tated the choice of your highest officers,
and compelled you to make peace or war
as best suited their own wishes. The
forms of your government might, for
time, have remained, but it's living spirit
would have departed from it."
The individual who cannot plainly see
in the above is, the same power now en-
gagged in war on the people simply has
a clouded reason and will not see.