2 votes

The American System: The 2nd Bank of the U.S.

Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Andrew Jackson, final warning

President Andrew Jackson's final warning to the people of the united States:

"The paper-money system and its natural associations --monopoly and exclusive privileges-- have already struck their roots too deep in the soil, and it will require all your efforts to check its further growth and to eradicate the evil. The men who profit by the abuses and desire to perpetuate them will continue to besiege the halls of legislation in the General Government as well as in the States, and will seek by every artifice to mislead and deceive the public servants. It is to yourselves that you must look for safety and the means of guarding and perpetuating your free institutions. In your hands is rightfully placed the sovereignty of the country, and to you everyone placed in authority is ultimately responsible. It is always in your power to see that the wishes of the people are carried into faithful execution, and their will, when once made known, must sooner or later be obeyed; and while the people remain, as I trust they ever will, uncorrupted and incorruptible, and continue watchful and jealous of their rights, the Government is safe, and the cause of freedom will continue to triumph over all its enemies.

"But it will require steady and persevering exertions on your part to rid yourselves of the iniquities and mischiefs of the paper system and to check the spirit of monopoly and other abuses which have sprung up with it, and of which it is the main support. So many interests are united to resist all reform on this subject that you must not hope the conflict will be a short one nor success easy. My humble efforts have not been spared during my administration of the Government to restore the constitutional currency of gold and silver, and something, I trust, has been done toward the accomplishment of this most desirable object; but enough yet remains to require all your energy and perseverance. The power, however, is in your hands, and the remedy must and will be applied if you determine upon it." ---Farewell Address, March 4, 1837. http://www.presidency.ucsb.edu/ws/?pid=67087

President Jackson called the attention of the people to the necessity of being vigilant, year after year; the necessity of constantly educating themselves --and nott wait for others, for cheer-leaders and heroes, to do the informing and the vigilance for them; to do the preserving their rights for them.

In the 1830s, as side-effect of the bank agitation and the independent treasury debate, the citizens of the United States became better informed on money and banking than in any other period during the past 230 years; showing that in other decades the people did not keep up their vigilence and their self-education. In the 1830s, 1840s, 1850s, the leading figures of the South and West did this work for the people, and prevented the restoration of the centralized banking system. Unfortunately these leading figures were mislead and lured into withdrawing from Congress, which provided the opportunity to Lincoln and crew to enact laws to establish monopolies and exclusive privileges. After the South was conquered, they were not allowed representation in Congress until re-construction of the United States was etched in stone and the whole Republic was Mexicanized and Africanized.

The Congress of the united States spent money and effort to record, to preserve, and to make available to everyone, the history of banking, but the citizens neglected exertion and perseverence. In 1-2 hour installments, learned and eloquent men read into the Record lectures on every side of the subject of money and banking, but the people refused to read these educational speeches. As the result, by the end of Andrew Jackson's century, even the people's cheer-leaders and heroes became either completely ignorant as to money, banking, and the history of money and banking, or they were outright enemy agents, leading the people in circles to nowhere.


the best speech

The full text of Henry Clay's 1811 speech, the best on the subject, in 200 years:
In 5 years Mr. Clay changed his mind

Legislative history of central banking in the United States:

During the Presidency of Andrew Jackson the account of the United States was transferred from Baring, Brother &co., to N.M. Rothschild.....

1833: President Andrew

1833: President Andrew Jackson starts removing the government's deposits from the Rothschild controlled, Second Bank of the United States and instead deposits them into banks directed by democratic bankers.

This causes the Rothschilds to panic and so they do what they do best, contract the money supply causing a depression [in 1837].


This is the story Iv'e seen repeated other places.

Free includes debt-free!

not a source

iamthewitness and Daryl Bradfor is NOT a source; he just a regurgitator who never studied history

Had you or the regurgitator studied reality ye would have known that the Rothschilds did not have much to do with the second bank (in fact they were opposed to it)
please look up the list of share-holders of the second bank

consider how many of those State pet-banks were Rothschild fronts......

Your not a source either.


Free includes debt-free!

product of public education?

Is that a major typo, or are you the product of public education ?

in any case, unlike you and your favourite regurgitator, I read up on the subject

Obsession on blame is a dead end.

No, it was a Private Education. I focused on phonetics not time limited grammatical regulations.

Sounds the same but spelt differently. Grammarians are always a day late and a dollar short. So it is with regulators.

Congress is the problem. They were given the right to borrow. In retrospect, a really stupid idea.

Strike the Root.

Free includes debt-free!

Great Quote!

Memorize it for those who would say, “The government already does it. Why Stop it?”

“Mere precedent is a DANGEROUS source of authority, and should NOT be regarded as deciding questions of constitutional power EXCEPT where the acquiescence of the people and the States can be considered as WELL SETTLED.”
July 10th, 1832

Third sentence in the Twentieth paragraph.

~Good Night, And Good Luck~