History of Banking in the United States (Vol.2): The Bank War
EAN13
9782366596779
Éditeur
LM Publishers
Date de publication
Langue
anglais
Fiches UNIMARC
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History of Banking in the United States (Vol.2): The Bank War

LM Publishers

Livre numérique

  • Aide EAN13 : 9782366596779
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This book deals with the US history of banking in the 19th century. This
volume is the continuation of the "History of banking in America - Vol.1",
which dealt with the Beginning and Development of bank system in America (from
1630 to 1832). "If Jackson intended to open a war on the Bank, it is strange
that he should have chosen a Pennsylvanian, Samuel Ingham, as Secretary of the
Treasury. It fell to the lot of that gentleman to open the war on the
institution, of which all Pennsylvanians were especially proud. After the
report of the Investigating Committee on the Bank of the United States, in
1832, he published an apology for his own action in the matters which are
about to be narrated, in which he said that, soon after he entered on the
duties of his office, he heard the President make frequent declarations in
conversation which showed that "he had imbibed strong prejudices against the
United States Bank and was distinctly opposed to the existence of that
institution," and that he (Ingham) was "appealed to as the head of the
department charged with official intercourse between the government and the
Bank for protection against what was termed the political abuses of that
establishment. It was often stated to me that the branches in Louisiana and
Kentucky had greatly abused their power for political purposes, not only in
elections for the general government, but in State elections, from whence it
was inferred that other branches had done the same elsewhere." The
specification under this last head was the above mentioned interference in
Kentucky, in 1825, which was asserted by Kendall, although, when he endeavored
to obtain corroboration for it from his informant, he failed to do so. The
"Louisville Advertiser," speaking from an inside knowledge of the management
of the old court campaign of that year, contradicted the assertion that any
aid had been given by the Bank of the United States, and the president and
seven out of eight surviving directors of the Lexington Branch published
affidavits denying that their bank had ever contributed to the funds of any
political party. This one disputed allegation of fact was made to bear a
tremendous superstructure of assertion, inference and conviction. Our
narrative will now follow the order of events in time, although the facts were
not known to the public until 1832..."
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