Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850Benton, Thomas Hart
History
Thirty Years' View (Vol. 2 of 2): or, A History of the Working of the American Government for Thirty Years, from 1820 to 1850
Benton, Thomas Hart
United States -- Politics and government -- 1815-1861
The resumption will take place. The masses of gold and silver
pouring into the country under the beneficent effects of General
Jackson's hard-money policy, will enable every solvent bank to
resume; a moral sense, and a fear of consequences, will compel them
to do it. The importations of specie are now enormous, and equalling
every demand, if it was not suppressed. There can be no doubt but
that the quantity of specie in the country is equal to the amount
of bank notes in circulation--that they are dollar for dollar--that
the country is better off for money at this day than it ever was
before, though shamefully deprived of the use of gold and silver by
the political and insolvent part of the banks and their confederate
politicians.
The solvent banks will resume, and Congress cannot prevent them
if it tried. They have received the aid which they need in the
$100,000,000 of gold and silver which now relieves the country, and
distresses the politicians who predicted no relief, until a national
bank was created. Of the nine hundred banks in the country, there
are many which never can resume, and which should not attempt it,
except to wind up their affairs. Many of these are rotten to the
core, and will fall to pieces the instant they are put to the specie
test. Some of them even fail now for rags; several have so failed
in Massachusetts and Ohio, to say nothing of those called wild
cats--the progeny of a general banking law in Michigan. We want a
resumption to discriminate between banks, and to save the community
from impositions.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account