The Reign of Andrew Jackson by Frederic Austin Ogg
page 124 of 194 (63%)
page 124 of 194 (63%)
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of goodwill toward the institution such as the agent manifestly
coveted. Jackson seems to have carried to Washington in 1829 a deep distrust of the Bank, and he was disposed to speak out boldly against it in his inaugural address. But he was persuaded by his friends that this would be ill-advised, and he therefore made no mention of the subject. Yet he made no effort to conceal his attitude, for he wrote to Biddle a few months after the inauguration that he did not believe that Congress had power to charter a bank outside of the District of Columbia, that he did not dislike the United States Bank more than other banks, but that ever since he had read the history of the South Sea Bubble he had been afraid of banks. After this confession the writer hardly needed to confess that he was "no economist, no financier." Most of the officers of the "mother bank" at Philadelphia and of the branches were anti-Jackson men, and Jackson's friends put the idea into his mind that the Bank had used its influence against him in the late campaign. Specific charges of partizanship were brought against Jeremiah Mason, president of the branch at Portsmouth, New Hampshire; and although an investigation showed the accusation to be groundless, Biddle's heated defense of the branch had no effect save to rouse the Jacksonians to a firmer determination to compass the downfall of the Bank. Biddle labored manfully to stem the tide. He tried to improve his personal relations with the President, and he even allowed Jackson men to gain control of several of the western branches. The effort, however, was in vain. When he thought the situation right, Biddle |
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