The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-03-17

| and will be so long as men have to be
| entrusted with the powers of government.
And we get clearer view and calner
| judgment when we go for precept or ex-
| ample behind the lines of present conten-
| ton and lack beyond the memory of the
| living. When you hear men say we have
| outgrown the old trusths you may be
sure they have either gotten or expect to
| get something they have no right to,
especially if their patriotism gets noisy
The Bank of the United States was a
monopoly. 1t had the exclusive right
during the term Of its charter. to engage
| in the business of banking under federal
authority, including the issue of notes to
pass as money, without tax or security.
and the deposit of public funds without
| interest or security.
The bank was authorized to spread over
the entire country by means of
| branches, which It had established to the
number of twenty-five. These branches
! by drawing drafts each other so that
| they were in form mere transfers of
| funds and no evidences of debt, had the
! power which they freely used. to in
crease indefinitely paper which circulated
as money, for these drafts were made
| for even amounts and became practically
notes.
| The first bank was the product of Ham
| ilton's genius and like most of his crea-
tons. borrowed somewhat from the En-
| glish model. When the charter expired
there was a long contest over its renewal.
After five years Madison reluctantly sign
ed the re-charter because some agency
was needed to aid in settling the finan-
cial results of the war wiz England.
which had just closed, and nothing better
was offered. The mismana cement of this
bank had been the chief cause of the
| money troubles of the early twenties. but
it had recovered and was prosperous
when Jackson became president.
He was always a consistent opponent of
both banks. In 1896 the first represen-
tative from Tennessee. he had refused to
vote for the address approving the adj
ministration because it included the bank
Of the Joy treaty. In each of his mes
sages TO congress he expressed his dis
approval of the bank. though its charter
would not expire during his term.
Finally, to counterfeit the effect of this
the friends OF the bank, who controlled
both houses proceeded three years before
the charter. would expire to pass a bill
renewing it. This was done under Clay's
leadership and timed so TO force the
issue on the president during his second
campaign and either secure his approval
or set the business interests of the coun-
try against him.
The result was this message, July TO-
1882, the defeat OF the bill and Jackson's
reelection over Clay by a majority of
more than four to one.
The parts of the message which dealt
with the general principle of government
make up large part of the Democratic
faith and fit our present situation as if
they were written today. Here are some
of them:
1T is to be regretted that the rich and
powerful too often bend the acts of gov
eminent to their selfish purposes. Dis
tinctions in society will always exist I'M
der every just government Equality of
talents, of education. or of wealth cannot
be produced by human institutions. In
the full enjoyment of the gifts of Heaven
and the fruits of superior industry, econ
omy and virtue. every man is equally en-
titled to protection by law.
1.-The attempt to trace remote or indi-
rect benefits to the people at large from
special favors granted at their expense
is a false pretense. If hte people are
able to thrive in spite of the imposition,
credit is claimed. If they are not. then
the result is laid to other causes. Is it
possible to fool anybody into believing
he gets a benefit from being made to
pay more almost everything he has to
buy than the same makers sell the same
things for abroad? Let the farmer, for
instance try to figure out his gain from
paying an average OF "a per cent more
for wire and wire nails than the trust
sells them for to foreigners.
THE fact that those who are not in
vited to the table can never hope for
more than crumbs md have to take
chances on them.
Finally, the message laid down a hu-
name rule. without which reforms may
work hardships. Justice is sublime which
extends even to those who have thriven
by injustice. even when that injustice
has been sanctioned by unwise laws. 1t
said:
If We cannot at once. in justice to in
terests vested under improvident legisla-
ton make our government what it ought
to be- we can at least take a stand
against all new grants of monopolies
and exclusive privileges. against any
prostitution of our government to the
advancement of the few at the expense
OF the many. and in favor of compromise
and gradual reform in our code of laws
ard system of political economy.
ITO do less than this would make
every abuse perpetual. More than this
mas never been done or advocated by any
sons to Cleveland's. Ours has always
been the conservative party. Its OPP
ponents have been the radical parties
whose specious policy is one which al
ways offers shelter to numbers of in
terested schemes and corrupt enterprises
The excuses and extravaganza of
these parties, with the unfair results
which follow have always driven the
country back to Democracy for the re-
lief afforded by a return to equal rights
and diminished burdens. The time is at
hand when it will again knock at our
door All We need do is to see to il that
the party has not moved away and is at
home.
And we can afford 10 smile when the
authors Of the troubles we are called to
cure try TO lay them to US because they
had not fuzzy broken out when We took
charge, as in 1895. The people will not
he deceived They will know that it is
not the Democrats
'Jackson's victory was complete. No
like bank was ever again established.
Our present national banks are not mo-
nopolies Anybody can start one on the
same terms a all others. unlike the
old banks they are subject to state tax
alton. They cannot consolidate except