Jackson Versus Biddle: The Struggle over the Second Bank of the United States

By George Rogers Taylor | Go to book overview

Ralph C. H. Catterall:


THE CHARGES AGAINST THE BANK

THE subject in connection with the bank which always arouses most interest is its alleged corrupt connection with politics. It may be said at once that there never has been any evidence produced to show that the bank as a national bank ever spent a dollar corruptly. Yet the accusation was repeated so often that historians have been inclined to accept as proved what was only vehemently asserted, and it begot an incurable suspicion which has endured to this day.

It is self-evident that the bank would be affected by political considerations, since from the beginning to the end of its existence it was to a large extent subject to the will and whim of politicians, and it was frequently attacked by them. Had the board of directors been composed exclusively of canonized saints, still the conciliation of politicians and political forces would have been necessary. The only question worthy of discussion is that of the bank's honesty or corruption in this situation.

Biddle in 1829 rejected as totally inadmissible any attempt to create boards on which the political parties were fairly balanced, and declared that political affiliations should not be considered in such selections. He was right in this; but it must not be supposed that the proposition of a political balance was novel, or that Jackson Democrats first suggested it, or that there was any moral obliquity in such an arrangement. When the first government directors were named, President Madison frankly selected them all from his own political party, and the private stockholders, quite certain that the bank must either be a political machine or possess a balance of parties, elected ten Republicans and ten Federalists as their members of the board. Madison and his capable and honest secretary, A. J. Dallas, then struggled successfully to secure the presidency of the bank for a Republican partisan of no particular ability or experience as a banker, and thus the disasters consequent upon the presidency of William Jones are primarily chargeable to James Madison and Alexander James Dallas.

The policy of political balance then inaugurated was religiously pursued all through the administration of William Jones, and certainly through part of that of Langdon Cheves. Writing to Biddle in 1820, John McKim urges him to assist in the election of a Republican director at Baltimore, "as you know that the Republicans are one short of their number, and the necessity of giving us our share of the Directors, as we do hold more than the half of the stock, and it having been Policy to divide the two Partys in

____________________
From The Second Bank of the United States by Ralph C. H. Catterall, copyright 1902 by the University of Chicago Press. Reprinted by permission of the publisher. This extract comprises pp. 243-284, 476 f.

-36-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Jackson Versus Biddle: The Struggle over the Second Bank of the United States
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 120

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.