Evening star., 1928-04-16

that they were defending the rights Of
the people and resisting the encroach-
ments Of monopoly. At the same time
they questioned the constitutional
power of the Congress to establish
bank. The bill. however, was passed
late in the Spring Of 1892, just as the
presidential campaign was beginning,
and was promptly vetoed by the Presi-
dent In a message Of great force and
character.
The popularity of his administration
was demonstrated at the election. where
he received 219 electoral votes, against
81 for all others. Students of his career
have thought that he considered this
complete approval of his entire public
life and a complete disapproval of all
those who had ever differed with him
on any subject. But with the work he
had before him. 1t was fortunate that
he had secured such popular indorse-
ment and was we'll endowed with self
confidence. backed by an iron will
South Carolina had been very much
opposed TO the duties imposed by the
tariff law. On November "a. 1882, that
State passed its famous notification
ordinance, which undertook to set aside
the tariff within its territory. This
policy had been discussed In the Senate
In the famous debate between Webster
and Hayne in January, 1880.
At Jefferson day dinner the fol-
lowing April, President Jackson had
proposed the toast: Our Federal Union
it must be preserved" At the same
time Calhoun had argued that liberty
was Of more importance than the Union.
Without reference to his former views
on the tariff or State rights. when
this ordinance was passed. President
jackson declared: THE duty of the
EXECUTIVE is plain one. The laws will
be executed and the Union preserved BY
all the constitutional and legal means
he Is invested with
Denies Right of Secession.
He soon followed this with proclanaa-
ton denying the right OF secession, re-
futing the power Of State TO set aside
an act OF Congress. and asserting the
supremacy of the Federal Constitution
This proclamation has been regarded
as one of the best State papers If any
American President. II was thoroughly
nationalist In spirit and had a profound
effect.
While the President wGs seeking au-
thority to enforce the tariff laws Clay
secured the passage of a compromise
tariff measure. whereat South Carolina
repealed the ordinance A service Of
this nature. rather at variance with
some Of the positions he had formerly
taken and some Of the policies strongly
supported In his own party. could cil.y
have been performed by q great man.
His light on the bank was not yet
ended. His next move was an attempt
TO withdraw the public deposits. Two
Secretaries Of the Treasury refused TO
take this action. and being displaced
IN turn Tarey became Secretary Of the
Treasury long enough to transfer the
| Government funds to State banks. The
elections OF 1884 returned q majority
favorable 10 the Jackson policies, 90
the bank charter expired In 1895. OF
course. violent change Of this nature,
affecting the financial policies CT tie
Nation. was bound to have an economic
effect throughout the country.
Government funds in local banks were
used for speculation, which, as usual,
brought the reaction Of depression.
Opinions have differed concerning the
United States Bank. but no one doubts
| the great courage Of President Jackson
In opposing IL or the public approba-
ton he received in support OF his policy
A great financial contest OF such a
nature was bound TO have some de-
hASSsAat& N4sNIN 0p1al kA4lES &ll OVER k5lG
Nation. But the President had won 50
completely that two resolutions of ciiti-
essm for removing the deposits, passed
by the Senate in 1884, were expunged
from the Journal on January Is. 1887
For his successor he dictated the
nomination Of Van Buren, and saw him
elected by a good margin. He had
already made Van Buren, Vice Prcsi-
dent 70 retallate upon Calhoun. who