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Editorial
August 12, 1833
The Daily Cincinnati Republican, And Commercial Register
Cincinnati, Hamilton County, Ohio
What is this article about?
An editorial from the Globe criticizes the Bank of the United States for corrupt loans totaling around $90,000 to printers and public figures using public deposits, accuses Bank supporters in the Intelligencer of hypocrisy in opposing deposit withdrawal, and labels the Bank as enabling stockjobbing.
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OCR Quality
98%
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Full Text
From the Globe,
The Bank hirelings of the Intelligencer have become quite cool since the exposure of their "private affairs" with that "public institution," the "Bank of the United States."
We have reason to believe, that we did less than justice to the Bank in this matter, and that the loans to the managers of its printing concern in this city, are near NINETY THOUSAND DOLLARS.
Here is the sum of ninety thousand dollars, or thereabouts, loaned to a bankrupt concern, out of the people's money!
The Bank loans out of the deposites, and it is their possession which enables it to practise this horrible corruption.
Withdraw the deposites! Why, they are withdrawn already—$90,000 by one printer—$50,000 by another—$30,000 by a third—$90,000 by one member of Congress—$50,000 by another—$30,000 by another—$10,000 by another—five, three, two or one thousand by a dozen. When the Bank Intelligencer opposes a withdrawal of the public deposites, it means a withdrawal from itself!—The Editors have $80 to $90,000 in their own hands, and it would be monstrous to withdraw it!
These men and their associates are those who talk of "gamblers" and "stockjobbers" as being the only persons who wish to withdraw the deposites! They are themselves the gamblers and stockjobbers.
To whom were entrusted the $900,000 loaned on stocks by the Bank in Philadelphia during the single month of June, and for what purpose? Was it for any other purpose than stock jobbing? No. It was the stockjobber's Bank. It loans its millions to brokers, its twenties of thousands to printers and public men, upon gambling principles or worse. But as the thief thought to escape by crying "stop thief," so these men expect to conceal their own delinquencies by charging others with gambling and stockjobbing.
Who jobbed upon the recent false news in Philadelphia about the removal of the deposites? Was it the "Cabal" of the "Kitchen Cabinet" or of those consistent gentlemen whom the Bank abuses because it cannot corrupt? We have had a look behind the veil of this infernal "sanctum sanctorum;" but the guilty need not tremble yet.
The Bank hirelings of the Intelligencer have become quite cool since the exposure of their "private affairs" with that "public institution," the "Bank of the United States."
We have reason to believe, that we did less than justice to the Bank in this matter, and that the loans to the managers of its printing concern in this city, are near NINETY THOUSAND DOLLARS.
Here is the sum of ninety thousand dollars, or thereabouts, loaned to a bankrupt concern, out of the people's money!
The Bank loans out of the deposites, and it is their possession which enables it to practise this horrible corruption.
Withdraw the deposites! Why, they are withdrawn already—$90,000 by one printer—$50,000 by another—$30,000 by a third—$90,000 by one member of Congress—$50,000 by another—$30,000 by another—$10,000 by another—five, three, two or one thousand by a dozen. When the Bank Intelligencer opposes a withdrawal of the public deposites, it means a withdrawal from itself!—The Editors have $80 to $90,000 in their own hands, and it would be monstrous to withdraw it!
These men and their associates are those who talk of "gamblers" and "stockjobbers" as being the only persons who wish to withdraw the deposites! They are themselves the gamblers and stockjobbers.
To whom were entrusted the $900,000 loaned on stocks by the Bank in Philadelphia during the single month of June, and for what purpose? Was it for any other purpose than stock jobbing? No. It was the stockjobber's Bank. It loans its millions to brokers, its twenties of thousands to printers and public men, upon gambling principles or worse. But as the thief thought to escape by crying "stop thief," so these men expect to conceal their own delinquencies by charging others with gambling and stockjobbing.
Who jobbed upon the recent false news in Philadelphia about the removal of the deposites? Was it the "Cabal" of the "Kitchen Cabinet" or of those consistent gentlemen whom the Bank abuses because it cannot corrupt? We have had a look behind the veil of this infernal "sanctum sanctorum;" but the guilty need not tremble yet.
What sub-type of article is it?
Economic Policy
Partisan Politics
What keywords are associated?
Bank Corruption
Public Deposits
Stockjobbing
Loan Scandals
Intelligencer Hypocrisy
Withdrawal Opposition
What entities or persons were involved?
Bank Of The United States
Intelligencer
Editors
Printers
Members Of Congress
Kitchen Cabinet
Editorial Details
Primary Topic
Corruption In Bank Of The United States Loans And Deposit Withdrawals
Stance / Tone
Strongly Anti Bank, Accusatory Of Corruption And Hypocrisy
Key Figures
Bank Of The United States
Intelligencer
Editors
Printers
Members Of Congress
Kitchen Cabinet
Key Arguments
Loans Of Nearly $90,000 To Bankrupt Printing Concerns Using Public Money
Bank Enables Corruption Through Control Of Deposits
Deposits Already Withdrawn By Insiders Like Printers And Congressmen
Intelligencer Opposes Withdrawal To Protect Its Own Loans
Bank Supporters Are The True Gamblers And Stockjobbers
$900,000 Loaned On Stocks In Philadelphia For Stockjobbing
Bank Loans To Brokers, Printers, And Public Men On Gambling Principles
Hypocrisy In Accusing Others Of Gambling While Engaging In It Themselves