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July 31, 2014

Homework Help: History

Posted by Ryan on Tuesday, November 10, 2009 at 7:50pm.

These two following paragraphs are from a primary source from the internet called the Bank War Statement. It's an excerpt from Jackson's message to Congress describing his reasons for his veto. Which one is the best to use in my paper because I can only use one.

The present corporate body, denominated the president, directors and company of the Bank of the Us., will have existed at the time this act is intended to take effect twentyu years. It enjoys an exclusive privilege of banking under the authority of the General government, a monopoly of its favor and support, and as a necessary consequence, almost a monopoly of the foreign and domestic exchange. The powers, privileges, and favors bestowed upon it in the original charter, by increasing the value of stock far above its par value, operated as a gratutity of many millions to the stockholders.

Experience should teach us wisdom. Most of the difficulties our government now encounters and most of the dangers which impend over our union have sprung from an abandonmnet of the legitimate objects of government by our national legislation, and the adoption of such principles as are embodied in this act. Many of our rich men have not been content with equal protection and equal benefits, but have besought us to make them richer by act of Congress. By attempting to gratify their desires we have in the results of our legislation arrayed section against section, interst against interest, and man against man, in a fearful commotion which threatens to shake the foundations of our Union. If we can not at once, in justice to interests vested under improvident legislation, make our government what it ought to be, we can at least take a stand against all new grants of monopolies and exclusive privileges, against any prostitution of our government to the advancement of the few at the expense of the many, and in favor of compromise and gradual reform in our code of laws and system of political economy.

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