United States -- History -- 1815-1861; United States -- Politics and government -- 1815-1861
It is probable that at the moment of his accession to power Jackson
had not thought out the relation of the democratic principle to the
Bank, but he undoubtedly felt it, and the feeling guided him to the
position which he assumed, first toward the questions of detail in the
Bank's policy and management, and then toward the general question of
its existence. The controversy between his Secretaries and the Bank's
officers, upon which Mr. Adams laid so much stress, probably
precipitated matters, but the crisis would have developed under other
circumstances had not these existed. The social and political forces
at play were bound to bring it about under one issue or another. It
may have astonished the politicians and statesmen of the East then,
and it may astonish the casual reader of American history now, that
Jackson attacked the question of the future existence of the Bank in
his first annual message, but there is nothing surprising in it to the
careful student of American history, who comprehends the development
of the democratic spirit of the West during the third decade of the
century.
[Sidenote: The Bank and the people.]
It is doubtful whether the President was correct in saying, as he did
in his message of 1829, that a large portion of the people questioned
the constitutionality and expediency of the law creating the Bank, and
it is certain that the Bank was not considered by all to have failed
in the establishment of a sound and uniform currency. It is far more
probable that the people generally acquiesced in {198} the decision of
the Court pronouncing the Bank law constitutional, and that the
majority of the people, at that moment, regarded it as good policy,
and believed that the Bank had fairly fulfilled the purpose of its
creation. The President was simply assuming that the people thought as
he did, as democratic leaders usually do. Taken in that sense there
was nothing extraordinary in what he said. He had a right to disagree
in opinion with the Court, and to say so, and to make any
recommendation to Congress which seemed wise to him, in regard to the
re-charter of the Bank. That an expiring law is constitutional is not
always a convincing argument for its re-enactment.
[Sidenote: The existence of the Bank made a political issue.]
The President's criticism occasioned an investigation into the
principle and status of the Bank, and brought the Bank question into
the politics of the day.
Public-domain text, read in full here on John Shaqi.
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