The result of the ill-advised legislation which established this great
monopoly was to concentrate the whole moneyed power of the Union, with
its boundless means of corruption and its numerous dependents, under the
direction and command of one acknowledged head, thus organizing this
particular interest as one body and securing to it unity and concert of
action throughout the United States, and enabling it to bring forward
upon any occasion its entire and undivided strength to support or defeat
any measure of the Government. In the hands of this formidable power,
thus perfectly organized, was also placed unlimited dominion over the
amount of the circulating medium, giving it the power to regulate the
value of property and the fruits of labor in every quarter of the Union,
and to bestow prosperity or bring ruin upon any city or section of the
country as might best comport with its own interest or policy.
We are not left to conjecture how the moneyed power, thus organized and
with such a weapon in its hands, would be likely to use it. The distress
and alarm which pervaded and agitated the whole country when the Bank
of the United States waged war upon the people in order to compel them
to submit to its demands can not yet be forgotten.
Pages:
709
710
711
712
713
714
715
716
717
718
719
720
721
722
723
724
725
726
727
728
729
730
731
732
733