Defeated in the General
Government, the same class of intriguers and politicians will now resort
to the States and endeavor to obtain there the same organization which
they failed to perpetuate in the Union; and with specious and deceitful
plans of public advantages and State interests and State pride they will
endeavor to establish in the different States one moneyed institution
with overgrown capital and exclusive privileges sufficient to enable it
to control the operations of the other banks. Such an institution will
be pregnant with the same evils produced by the Bank of the United
States, although its sphere of action is more confined, and in the State
in which it is chartered the money power will be able to embody its
whole strength and to move together with undivided force to accomplish
any object it may wish to attain. You have already had abundant evidence
of its power to inflict injury upon the agricultural, mechanical, and
laboring classes of society, and over those whose engagements in trade
or speculation render them dependent on bank facilities the dominion of
the State monopoly will be absolute and their obedience unlimited.
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