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Editorial
October 9, 1832
The Rhode Island Republican
Newport, Newport County, Rhode Island
What is this article about?
Editorial criticizes the national bank as part of Henry Clay's 'American System,' highlighting minimal U.S. government ownership compared to British nobility's majority stake, warning of risks to American liberty in potential future wars. Published in Rochester Republican.
Clipping
OCR Quality
98%
Excellent
Full Text
The Clay "System."
With what propriety can that be termed a "National" Bank. in which the American Government owns less stock than the European nobility ? The United States have but seven millions, while over eight millions are already owned by British Earls and Knights-by the Priests and Generals of a nation which has in two wars ineffectually struggled to destroy American freedom! In what a predicament would this Republic be placed, should it in future conflicts be dependant for loans on a Bank whose British stockholders might perhaps be leading their red-coat legions to subvert our liberties! And yet the "Mammoth Bank" is now a part of Clay's misnamed American System!-
Rochester (N. Y. ) Republican
With what propriety can that be termed a "National" Bank. in which the American Government owns less stock than the European nobility ? The United States have but seven millions, while over eight millions are already owned by British Earls and Knights-by the Priests and Generals of a nation which has in two wars ineffectually struggled to destroy American freedom! In what a predicament would this Republic be placed, should it in future conflicts be dependant for loans on a Bank whose British stockholders might perhaps be leading their red-coat legions to subvert our liberties! And yet the "Mammoth Bank" is now a part of Clay's misnamed American System!-
Rochester (N. Y. ) Republican
What sub-type of article is it?
Economic Policy
Foreign Affairs
Partisan Politics
What keywords are associated?
National Bank
British Ownership
Clay's System
American Freedom
Foreign Influence
What entities or persons were involved?
Henry Clay
British Earls And Knights
United States Government
Rochester Republican
Editorial Details
Primary Topic
Criticism Of National Bank And British Ownership In Clay's American System
Stance / Tone
Strongly Critical Of Foreign Influence In American Banking
Key Figures
Henry Clay
British Earls And Knights
United States Government
Rochester Republican
Key Arguments
American Government Owns Less Stock In The National Bank Than European Nobility
Over Eight Million Dollars Owned By British Interests
Risk Of Dependence On Bank With British Stockholders In Future Conflicts
Bank Is Part Of Clay's Misnamed American System