The Penn's Grove record., 1910-01-07
ST. JACKSON 81
How Andrew Jackson Benefit Eve
Taxpayer and School Chile

January 9Th is called st. Jackson
| Day, in Democratic parlance. That
day. is celebrated because it is the ami
yersary of the day Oh which General
| Jackson whipped the British so badly at
New Oaleans that they meyer afterwards
cared to modest MOI question the iIde-
pendence Of these United States. That
occurred ninety-fve years ago tomorrow.
That great act as a soldier made him
military The hero of his age and also
| President.
Andrew Jackson was the first man to
be elected from the common people and
| his greatest act while President was to
| veto the bill which Congress had passed
| to create a third central bank.
The fact that there are efforts being
made now to get Congress to pass a bill
| creating a central bank to issue notes
| to circulate as money, make a reference
to Jackson's message which killed the
| money trust of his day of g.eat educa-
tional value.
The second bank was chartered in
1916 for twenty years and expired in
1886. Nicholas Biddle, the president
of the bank, waited on President jack
son to get his opinion as to whether lie
would sign a bill for a renewal of. its
charter. He told Jackson that the
merchants and men of affairs through
all the States were, as a rule, largely
indebted to his banks, and that through
the influence of his branch banks he
could control the election of any State
in the Union. Then sup rose" Andrew
Jackson and with suppressed emotion
said, "Mr. Biddle, if that is true, and I
think it is, l tell you here and now that
if YOU can control the election of any
State in tie Union that is too much
power for one nan to have in a free
country in time of peace. And I will
tell you farther, here and now, that if
you get a new charter from Congress
for that bank, by the eternal I will
veto that charter"
After that, the money pow r started
all its batteries against Jackson's re
election in 1882.
The money of the government had
been kept in this bank for forty years.
In his second term Jackson had it taken
out and the U. S. Treasury organized
as it exists today.
When the bank expired there was 500
found in it to redeema paper circulation
of over a hundred million.
President Jackson's veto message should
be read by every citizen. In it he says:
ut is maintained by some, that the bank
is a means of executing the constitutional
power to coin money, and regulate the
value thereof Congress have established
a mint to coin money, and passed laws to
regulate the value thereof. The money
SO coined, with its value so regulated, and
such foreign coins as Congress may adopt,
are the only currency known to the con-
stitution. But if they have other power
to regulate the currency, it was conferred
to be exercised by themselves, and not
to be transferred to a corporation. If the
bank be established for that purpose,
with a charter unalterable without its
co nsent, Congress have parted with their
power for a term of years, during which
the Constitution Is a dead letter. 1t is
neither necessary nor proper to transfer
its legislative powers to such a bank, and
therefore unconstitutional"
Jackson started the plan of the govern
ment not only caring for its own money,
but he got the government out of debt
for the first time in its history. Not only
that, he ran it so economically that there
was Sc much money in the U. S. Treas
ury that it was divided among the States
and the States divided it among the
COMMITTEES for the benefit of the public
schools.
Salem county has over $4,000 of it yet.
The Clerk of the Board of Freeholders is
the treasurer and a report Of it will be
published in the county papers in a few
weeks. So you see that not only the tax
payers but every school child is reapinga
benefit to-day of President Jackson's rule
and his honest fnanciering of the govern
ment for the benefit of the people and
not in the interest of the aristoclacy OF
wealth.
In his veto message he further says;
cit is t be regretted that the rich and
powerful too often bend the acts of gov
eminent to their selfish purposes. Many
of our rich men have not been contented
with equal protection and eqnal benefits,
but have besought us to make them rich
by acts of Congress-"
protective tariff a gold standard, of &C.
count a ship subsidy, and a central bank
are working for. Jackson was so straight,
honest and trueon these questions that
he was called"Old Hickory"
These are some of the reasons why
"Freemenl cheer the hickory treeI
In storms its boughs have sheltered thee,
Ger freedoms land its branches wave
1t was planted on the Lions grave"
One of the most thrilling subjects