"That we are overdone with banking institutions which
have banished the precious metals and substituted a more fluctuating and
unsafe medium, that these have withdrawn capital from useful improvements and
employments to nourish idleness, that the wars of the world have swollen our
commerce beyond the wholesome limits of exchanging our own productions for
our own wants, and that, for the emolument of a small proportion of our
society who prefer these demoralizing pursuits to labors useful to the whole,
the peace of the whole is endangered and all our present difficulties
produced, are evils more easily to be deplored than remedied."
Thomas Jefferson, 14 March 1810
And the rememdy was not found for this corruption of the banking system cited
by Jefferson until the coming of 'Old Hickory,' who although with Jefferson
is reviled by the oligarchs and statists of today, nevertheless brought
reform and relief to the general public, with whom they never lost their
faith and confidence.
The Banks must be restrained, and the financial system reformed, with balance
restored to the economy, before there can be any sustainable recovery.
There was intraday commentary here.
"In the full enjoyment of the gifts of Heaven and the
fruits of superior industry, economy, and virtue, every man is equally
entitled to protection by law; but when the laws undertake to add to these
natural and just advantages artificial distinctions, to grant titles,
gratuities, and exclusive privileges, to make the rich richer and the potent
more powerful, the humble members of society — the farmers, mechanics, and
laborers — who have neither the time nor the means of securing like favors to
themselves, have a right to complain of the injustice of their government.
There are no necessary evils in government. Its evils exist only in its
abuses. If it would confine itself to equal protection, and, as Heaven does
its rains, shower its favors alike on the high and the low, the rich and the
poor, it would be an unqualified blessing."
Andrew Jackson, Veto of the Second Bank of the United States
Have a pleasant evening.
Related: Franklin
Roosevelt on Andrew Jackson
