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To: Fai Mao
Well, a) the BUS wasn't corrupt. It had very strong, almost universal support from the small, "country" banks; 2) it was 4/5 private anyway; 3) Jackson was a oaf when it came to the bank and all along had a plan to get rid of all banks, as I showed in my book, "Banking in the American South"; 4) BOTH houses of Congress passed not one, but two Bank recharter bills and Jackson vetoed both; so, 6) with no hope of continuing, the BUS just died.

I personally didn't see anything wrong with the BUS because it always was forced to compete with ALL banks in terms of money creation. It did not, unlike the Fed, have a monopoly on money. Any bank (or insurance, or railroad company) could get a charter to print money, backed by gold or silver.

On the other hand, Jackson is innocent of causing the Panic of 1837, which was shown to be caused by the decline of silver importation.

Historians recently have begun to hate Jackson for his treatment of Indians, but up til the 1980s, libs like Arthur Schlesinger loved AJ and saw him as the forerunner to FDR. AJ ranks very low on our list in "Patriot's History of the United States," and I hate to see Trump even remotely compared to him. Knowing Lowry, it makes the comparison unfavorably.

That said, I think like Jackson, in office Trump would say to hell with Congress if they blocked efforts to protect America, build the wall, or admit Syrians.

16 posted on 11/24/2015 4:07:03 PM PST by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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To: LS

I am aware of what you are saying but the BuS did use its influence to try and defeat Jackson and in some sense validated his fears.

jackson is also somewhat hated because he is viewed as sort of a bigot’s bigot, what all bigots would aspire to be. I am not sure that is completely true but it fits the “Narrative”

You at least have to give me credit for knowing about the issue.


19 posted on 11/24/2015 4:15:15 PM PST by Fai Mao (Genius at Large)
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