The Banking Crisis and Its World Wide Echoes
A sweeping critique argues that the United States banks, insurance firms, railways, and governments are insolvent or near insolvent. It warns that a credit collapse will ripple to Britain, France, Holland, Africa, and Asia, and hallmarks of a doomed paper money system are exposed. The piece likens the Bank of the United States to a forbidden unclean spirit and calls for separating government fiscal concerns from banking. It dismisses national banks and favors depersonalized deposits and free competition, while warning of dangerous power if a single bank dominates.
MENTIONED IN THIS ARTICLE
United States
Great Britain
France
Holland
Europe
Africa
Asia
Cape of Good Hope
Calcutta
Canton
Twas
Tia
Wichelas Biddle
Philadelphia
New York
New Orleans
Bank of England
Nicholas Biddle
Middle States
Flemming
Mechanics’ Bank
Arm
Mbsoldice
Mnust
Natchez
Mobile
N. Orleans
Baltimore
Boston
Speeih
Sadei Sauk
Bank paper and government role in currency policy
The discussion argues that a national bank would mirror State banks in expansion cycles and could distort the economy. It urges keeping government funds separate from banks, preventing overissuance of notes, and using hard specie to curb inflation. It also asserts exchanges are commodities and criticizes reliance on bank paper for currency stability.
Government policy on specie payments and banking
The United States aims to separate its fiscal concerns from private finance whether state banks resume specie payments or not. If they resume, the refusal to accept their notes curbs over-issues and over-trading. If not, the public can gauge currency adequacy and adjust transactions accordingly as we argue for government operations without bank paper or credit institutions.
MENTIONED IN THIS ARTICLE
States Bank
United States Bank
Ees
Bank of the United States
Beelzebub
Prince of
England
United States
Bank of the
Congress
Pennsylvania
Themeelve
Igeatase
Petits
National Bank
District of Columbia
Treasury
Great Bank
Bank of Amsterdam
Bank
Nicholas Biddle
Reuben M. Whitney
Mr. Whitney
Mr. Biddle
Andrew Jackson
Biddle
Bank of England
New York
Union
Alabama
Mobile
Ohio
Cincinnati
New Orleans
Bloomfield
Steubenville Township
Preevent
Democratic Party
Phil
Talmadge
Washington Globe
Jackson
van Buren
Col. Benton
Globe
American Union
Messrs. McCauslen - Harper
Steubenville
Farmers’ & Mechanics’ Bank of
Jefferson County
Public notice from Bloomfield Convention dissenters on currency and banking
James Means James McKenny Jr Richard Hooker announce opposition to the Bloomfield Convention ticket. They criticize its stance for exclusive metallic currency and anti bank policies, arguing these views misrepresent Andrew Jackson and the Democratic party. They urge nominees to repudiate those doctrines to avoid harming the party.
MENTIONED IN THIS ARTICLE
Bloomfield
Jefferson County
Democratic Party
Jackson
Bank of the United States
James Means
James M'Kenny
Richard Hooker
Democratic delegate voices banking resolutions opposition
A Steubenville township delegate to the Bloomfield Convention states he did not vote for banking resolutions. He argues banks are useful with proper controls and says his stance reflects Jefferson county Democrats. He adds he concurs with the accompanying communication’s views.
MENTIONED IN THIS ARTICLE
Steubenville Township
Bloomfield
Jefferson County
Bank politics and a widened ticket in Steubenville
An editorial rebukes a hostile attack on a Steubenville bank director and denounces political meddling by bank directors. It condemns attempts to influence stockholders, claims Democratic influence blocks recharter efforts, and reports a proposed bank aligned ticket with director surrogates controlling nominations.
MENTIONED IN THIS ARTICLE
American Union
Messrs. M’ Causlen& Harper
Last Herald
F. & M. Bank of
Congress
U. S
Sam
One of the People in a Hypocritical Stance
A critique rails at a wealthy stock jobber who savors profits and fears experiments that might hurt his gains. An aristocrat, "died in the wool," hates any change that could equalize wealth and power. A Democrat, in private, lurks behind a mask of concern while pursuing self interest.
Bloomfield Convention Debate Sparks Currency Clash
The Island Creek note criticizes the Herald for allegedly supporting monetary monopolies. It accuses the editor of endorsing small notes by corporations or individuals to replace silver, aligning with Whig aims and challenging claims against shin-plasters in a dispute over currency policy.
MENTIONED IN THIS ARTICLE
American Union
Herald
Bloomfield
the Herald
Democratic Party
Island Creek
Exploring Expedition Officers Weigh Whims and Delays
The Exploring Expedition officers slated for the voyage are described as a peculiar group who dislike their ships and company and even reluctance to go. Unless the Government appeases their whims, the expedition may fail. A Providence Courier report notes a Thursday earthquake felt near Smithfield Burrillville and Thompson with a half minute duration.
MENTIONED IN THIS ARTICLE
Philo. Commercial Herald
Providence Courier
Smithfield
Burrisville
Thompson
Slatersville
Also Mentioned on This Page
the American Union
Hank Ageey
Unie
Gere
Communications
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!