The Bank was immensely powerful and thoroughly unpopular. The antinomy would hardly strike a modern Englishman as odd, but it was anomalous in what was already a thoroughly democratic state. It was powerful because it had on its side the professional politicians, the financiers, the rich of the great cities generally--in fact, what the Press which such people control calls "the intelligence of the nation." But it was hated by the people, and it soon appeared that it was hated as bitterly by the President. Writers who sympathize with the plutocratic side in the quarrel had no difficulty in convicting Jackson of a regrettable ignorance of finance. Beyond question he had not that intimate acquaintance with the technique of usury which long use alone can give. But his instincts in such a matter were as keen and true as the instincts of the populace that supported him. By the mere health of his soul he could smell out the evil of a plutocracy. He knew that the bank was a typical monopoly, and he knew that such monopolies ever grind the faces of the poor and fill politics with corruption. And the corruption with which the Bank was filling America might have been apparent to duller eyes. The curious will find ample evidence in the records of the time, especially in the excuses of the Bank itself, the point at which insolence becomes comic being reached when it was gravely pleaded that loans on easy terms were made to members of Congress because it was in the public interest that such persons should have practical instruction in the principles of banking! Meanwhile everything was done to corner the Press. Journals favourable to the Bank were financed with loans issued on the security of their plant. Papers on the other side were, whenever possible, corrupted by the same method. As for the minor fry of politics, they were of course bought by shoals. It is seldom that such a policy, pursued with vigour and determination by a body sufficiently wealthy to stick at nothing, fails, to carry a political assembly. With Congress the Bank was completely successful. A Bill to re-charter that institution passed House and Senate by large majorities. It was immediately vetoed by the President.