History of the United States of America, Volume 1 (of 9) : $b During the first administration of Thomas JeffersonAdams, Henry
History
History of the United States of America, Volume 1 (of 9) : $b During the first administration of Thomas Jefferson
Adams, Henry
United States -- History -- 1801-1809; United States -- History -- 1809-1817
President Dwight seldom indulged in sarcasm or exaggeration such as he
showed in this instance; but he repeated only matters of notoriety in
charging some of the most democratic communities with unwillingness to
pay for good roads. If roads were to exist, they must be the result
of public or private enterprise; and if the public in certain States
would neither construct roads nor permit corporations to construct
them, the entire Union must suffer for want of communication. So
strong was the popular prejudice against paying for the privilege of
travelling on a highway that in certain States, like Rhode Island and
Georgia, turnpikes were long unknown, while in Virginia and North
Carolina the roads were little better than where the prejudice was
universal.
In this instance the economy of a simple and somewhat rude society
accounted in part for indifference; in other cases, popular prejudice
took a form less easily understood. So general was the hostility to
Banks as to offer a serious obstacle to enterprise. The popularity of
President Washington and the usefulness of his administration were
impaired by his support of a national bank and a funding system.
Jefferson’s hostility to all the machinery of capital was shared by
a great majority of the Southern people and a large minority in the
North. For seven years the New York legislature refused to charter the
first banking company in the State; and when in 1791 the charter was
obtained, and the Bank fell into Federalist hands, Aaron Burr succeeded
in obtaining banking privileges for the Manhattan Company only by
concealing them under the pretence of furnishing a supply of fresh
water to the city of New York.
Public-domain text, read in full here on John Shaqi.
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