The National tribune., 1900-11-08

the Nation a sound currency; it had been
honorably managed, and had the conf
dence of commerce. The Government de-
posits had been reported safe in its keep
ing by Congressional Committee. 1t
had also proved valuable to the public, for
dollar was of equal value in all the
States. But an evil whisper in the ear Of
President jackson that its influence had
been used on the wrong side was enough.
Jackson, without making any judicious in
vestigation of the financial merits, insert
ed words of threatening import into a
message to Congress.
The renewal of the charter soon became
political issue; the war was waged with
fury on both sides. The bank was de-
nOunced as monopoly, as money power,
as political engine-an ally of the rich
against the poor. This was talked until
Jackson talked himself into believing it,
and at length directed the Secretary of the
Treasury, VIM. ]. Duane, to remove the
Government deposits from the bank Prob
ably this was against the law, and when
the Secretary refused, giving this as his
reason, he was dismissed, and Roger Il.
fancy was put in his place.
The bill for the renewal of the charter
passed, but the President vetoed it; 1t
failed to carry a two-thirds vote, and the
bank fell. The Government deposits were
distributed, with more or less political faV-
oritism, among State banks, whereby was
instituted a reckless speculation, notably
in public lands.
DAYS OF FINANCIAL UNCERTAINTY.
Wildcat banks multiplied, and many
well remember the inconvenience of travel
or of merchantable money. What was
good to-day was worthless tomorrow or
the discount SO great one never knew what
amount would be required for any venture
of travel or purchase. Jackson became
alarmed and his edict went forth that
nothing but gold or silver should be taken
for taxes or other debts of the Govern
ment. From this followed the tremen-
dous crash of 1887, with the universal sus-
pensions of cash payments and general de-
mOraliZation of commerce and industry,
affecting chiefly the poorer classes, whose
championship Jackson had assumed when
he attacked the bank. The Senate passed
a resolution of censure, which some years
after was erased from the record, when
a majority of friends of Jackson We're in
the Senate.
His next attack was against the Gamer
lean system" of high tariff, and Inter
nal improvements" and he used the veto
power against numGer of bills appro-
priating money for internal improvements.
He believed that Congress had too much
money to spend; it made them extravagant
and wasteful, and nobody was benefited
but the manufacturers, and thus he OBJ
tanned the support of the majority of the
people, and he was elected in 1892 for a
second term. All the States dissatisfied
by the American SYSTEM" except South
Carolina, voted for Jackson. Within two
weeks after the election South Carolina
issued an ordinance to nullify certain acts
of the Congress of the United States pur-
porting to be laws laying duties and i'm
posts on the importation of foreign COM
modities." The State authorities forbade
her citizens to obey it or pay the duties.
Jackson did not like the tariff law, but
he had sworn to enforce it while it was
law, and he had no thought of yielding
to notification.
He sent a naval force to occupy Charles
ton Harbor, and collect the duties from
any vessels entering It. He sent word to
the people of South Carolina that he in
tended to enforce the law at all hazards,
and that blood would flow if they should
resist All men knew Jackson, and the
warning was taken. This ended the great
Notification Act.
Notwithstanding the political broils, the
strong friendships made and bitter hatreds
engendered during Jackson's Administra-
ton, it was marked by a wonderful ad-
yancement along the lines Of national i'm
proyementS.
DuIIHS JOuu NSuluty AudmS Aululu-
tration in 1927 two short lines of rails
were laid at Quincy, near Boston, and AL
bany, and the Baltimore & Ohio Railroad
was chartered in Maryland, though it was
then intended to use horsepower upon all
these. In 1928 the first trip of an Eng
lish locomotive was made on a PennSyl-
vania Railroad near Mauch Chunk. In
Jackson's Administration the new system
of the Stephensons was introduced into
tho ITnitad Stafne This Huac in 1 SDI Tho
Americans went Immediately to work to
make their own locomotives. The first
successful one was built in 1888.
OF course the introduction of the loco
motive changed the whole trend of bust
ness. The people now found an easy way
TO move over this extensive country, and
with rapid travel they began to act, move,
speak and think in n new way. Before
1885 there were 10 railroads built or build
ing: before the end of Jackson's second
term there were 800 miles of railroad
in operation and more building. 1t reached
the West and changed the life of the peo-
pie. 1t opened up new countries to set
tiers, and made towns, villages and cities
possible.
Anthracite coal, in 1886, began to be
used in steamboats, and railroads. The
screw propeller took the place of side
wheel steamers in 1886, and was intro
duced by John Ericsson.
Ocean navigation was successfully be-
gan in 1898, when the Sirius" and Great
Western" crossed the Atlantic from Eng
land to the United States.
Mccormick took out his patent for a
| reaping machine in 1884. Colts revolver
was patented in 1885. With this came a
great change in firearms.
In 1886 the manufacture of friction
matches stopped the flint-and-tinder busi-
| ness, or borrowing the live brand from the
next neighbor.
When the first steamboat appeared at
Fort Dearborn, in 1888, there was no city
of Chicago there.
The National debt was paid off in 1885,
and for the first time the Federal Govern
ment found that it was receiving more
| money than it could use. 1t was divided
among the States, and the construction OF
railroads and canals went on.
Arkansas and Michigan came into the
| Union in 1867. The number of States
had now doubled. Public schools had beer
established in most of the States, and the
public school system had become reeog
nized as part of American life.
| In foreign affairs the Federal Govern
ment was able to take firmer stand thar
| ever before. Since the days of JohI
Adams the Government had been endeay
oring to obtain payment from France fol
injuries done to American commerce
Jackson recommended to Congress thai