The Montgomery advertiser., 1902-01-11
NEEDS A NEW JACKSON
JuDGE pUNNE TELLS CHICAGO
 DEMOCRATS OF NECESSITY.
Sees a Bank Monopoly-Govern- ment Institution Impending, He Says, and Another "old
 Hickory" Required.
Chicago Tribune.

Before 500 members of the local and State Democracy at the annual Jackson Day banquet last night m the ,nd Sasrnat .l,at House, Judge E. F. Dunne declared that conditions were ripening which would need another Andrew Jackson TOT their solution. Of these conditions, ne saio' the tendency in financial circles to es- tablish another banking monopoly was the most alarming. .,
 ''The British are in New Orleans again he said, and the most gigantic and for- midable monopoly of modern umes.a and threatening the weli-being and per- petuity of this republic
 For these reasons" the Judge 9de- clared. we need another Jackson. Judge Dunne the first speaker, was tn- troduced by Mayor Harrison, who refer red to the success of the gathering de- spite predictions that 1t would be a faii- ure, As a preface to his formal speech the Judge complimented Mayor Harrison on his traction message and declared the Mayors stand to be correctly taken. This brought out great applause from his auditors.
 The Judge then took up the discussion Jackson" First pointing out that Jack sons name was connected permanently with two acts-the expulsion of the Brit ish from New Orleans and the overthrow
 
 that the British were again in New Or- leans and the United States Bank was again attempting formation.
 Turns to Bank Monopoly.
 After discussing the new invasion of the British, by which term he described the acts of the British in buying military supplies ito aid Great Britain in carry ing on it's infamous war for the extinc~ ton of two young republics with which this country is at peace,' Judge Dunne turned his attention to what he termed a revival of the banking monopoly. He said:
 We need another Andrew Jackson, not only to drive the British from New Orr leans. but again to protect this country from the corrupting influences and over
 in 1882 the United States Bank had a virtual monopoly of the banking indus try of the United States. It was the de- the agent of the government in the pay ment of pensions. Its charter, obtained by the most crafty and adroit financiers of that time. gave the bank such privi- leges and advantages that no other bank or combination of banks, could success fully compete with 1t.
 Bank Intrencbed in Power.
 "When General Jackson was nominated for the Presidency, the bank was well intrenched. It could ard did command the eloquence of Calhoun, Clay, and Web ster. It's directors and stockholders were leaders of society and what Is known as the better classes were all in favor Of the recharter of the bank. To oppose the scheme of the bank was distinctly Gnfashionable.
 But there was an iron-willed, incor- ruptible, rude and unfashionable man in the Presidents chair. named Andrew Jackson. This man did not believe. in monopoly or special privileges, and had a Brutis-like conception of patriotism He promptly vetoed the rechartering law, and on the. issue joined by that veto between Jackson and the bank he went to the country.
 50 complete was the triumph of the public conscience over official prostitu- tion and corruption that no man or set of men have since had the temerity to advocate the creation of a bank with Q monopoly of public revenues until the year 1901. It is not only seriously but forciblv advocated, and that. too, by into deeds, and make theories actuali- ties.
 Broached by Railroad Man.
 About two months ago, at a convention of bankers of this country in Milwaukee, a railroad President who had been in spired for the occasion, gently preached the suggestion for the first time since Jackson's triumph. Mir. Stickney's mod est demand requires the deposit of all government funds in the proposed arch monopoly, while it shall be utterly inde- pendent of government supervision or in spection.
 This delightfully."- daring proposition was not made to a gathering of lunatics, anarchists, or wild-eyed theorists, but to a meeting of supposed conservative bank Presidents and captains of finance and the proposition advanced by MT. Stickney was received with strong dem- onstrations of approval. Present at the time were the present Secretary of the Treasury, MT. Gage. and an ex- Comp troller of the Treasury, MT. Eckels.
 "The first of these, holding from a financial point of view the most impor- tant office in the United States. unre- servedly approved MT Stickney's scheme MT. Eckels also comments the proposal MT. Eckels would improve upon Mr. Stickney's daring scheme by tagging on it what he calls, his asset currency
 Attacks Asset Currency.
 'This scheme, as developed by MT. Eckels, is the most beautiful, unselfish, altruistic conceit ever devised by man. It is the simplest and most perfect scheme of banking ever originated by banker-for the banker. Under this airy scheme of running a bank as one would run grocery business,' without any governhent the public would have no legal fright to examine these assets They would be comnelled to take the bankers own statement in relation to the value of the assets of the bank, and we all know that bankers, like other peo- to be, both honest and dishonest.
 ''If the United States bank in 1852 could corrupt and control both houses of Congress with a capital Of only $50,- OO0 0OO what will a new United States bank be able to do in 1902 with S,O0O, OOo,-