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Editorial
October 12, 1833
New Hampshire Statesman And State Journal
Concord, Merrimack County, New Hampshire
What is this article about?
An editorial defends the Bank of the United States against President Andrew Jackson's accusations in his manifesto on removing deposits, claiming the Bank's loans to editors are false and that the actual defaulters are Jackson's allies Kendall and Blair.
OCR Quality
98%
Excellent
Full Text
"The fact that the Bank controls, and in some cases substantially owns, and by its money supports some of the leading presses of the country, is now more clearly established. Editors to whom it loaned extravagant sums in 1831 and 1832, on unusual time and nominal security, have since turned out to be insolvent."
The foregoing is one of the many passages contained in the President's Manifesto against the Bank, on the removal of the Deposites, which deserves particular comment. It is one of its prominent falsehoods, not even possessing the merit of originality; for it has been hawked about by the collar presses as too palpably false to deserve even contradiction, until it has become as stale as it is false; and now we find it endorsed by Andrew Jackson.
It has never appeared, nor is it believed an instance can be cited, in which the Bank, during the period stated by the President, has lost a cent by a printer, publisher, or editor of a newspaper. There was a time when the Bank loaned money to Kendall and Blair, two prominent members of the Kitchen Cabinet. These men failed to meet their paper, and are now defaulters to the Bank, in a large amount. These are the men whose security proved insufficient, and who have since turned out insolvent. They have, notwithstanding, been taken into the service of the President, pampered with the people's money, and employed to cry down the Bank. Yet, it is possible the President never imagined their press is 'substantially owned by the Bank, or supported by its money.'
In reading such declarations one can scarcely bring himself to believe that responsibility belongs either to the man or to the office he fills. It looks more like the invention of some designing knave, intended for an imposition upon an unsuspecting old man, with a view to make him appear ridiculous or contemptible.
The foregoing is one of the many passages contained in the President's Manifesto against the Bank, on the removal of the Deposites, which deserves particular comment. It is one of its prominent falsehoods, not even possessing the merit of originality; for it has been hawked about by the collar presses as too palpably false to deserve even contradiction, until it has become as stale as it is false; and now we find it endorsed by Andrew Jackson.
It has never appeared, nor is it believed an instance can be cited, in which the Bank, during the period stated by the President, has lost a cent by a printer, publisher, or editor of a newspaper. There was a time when the Bank loaned money to Kendall and Blair, two prominent members of the Kitchen Cabinet. These men failed to meet their paper, and are now defaulters to the Bank, in a large amount. These are the men whose security proved insufficient, and who have since turned out insolvent. They have, notwithstanding, been taken into the service of the President, pampered with the people's money, and employed to cry down the Bank. Yet, it is possible the President never imagined their press is 'substantially owned by the Bank, or supported by its money.'
In reading such declarations one can scarcely bring himself to believe that responsibility belongs either to the man or to the office he fills. It looks more like the invention of some designing knave, intended for an imposition upon an unsuspecting old man, with a view to make him appear ridiculous or contemptible.
What sub-type of article is it?
Partisan Politics
Economic Policy
What keywords are associated?
Bank Of The United States
Andrew Jackson
Removal Of Deposits
Kitchen Cabinet
Kendall And Blair
Press Loans
Political Falsehoods
What entities or persons were involved?
Andrew Jackson
Bank
Kendall
Blair
Kitchen Cabinet
Editorial Details
Primary Topic
Defense Of The Bank Against Jackson's Manifesto On Deposit Removal
Stance / Tone
Strongly Pro Bank And Anti Jackson
Key Figures
Andrew Jackson
Bank
Kendall
Blair
Kitchen Cabinet
Key Arguments
Jackson's Claim That The Bank Controls Or Supports Leading Presses Is A Prominent Falsehood
The Bank Has Not Lost Money To Any Printer, Publisher, Or Editor During The Stated Period
The Actual Defaulters To The Bank Are Kendall And Blair, Members Of Jackson's Kitchen Cabinet
Kendall And Blair Were Loaned Money By The Bank And Failed To Repay
Jackson Employs These Defaulters To Attack The Bank Using Public Funds
The Accusation May Be An Imposition On Jackson By Designing Individuals