476 THE IMPENDING REVOLUTION. 



whether modern Democracy and Republicanism has drifted 

 from their old time moorings. 



DEMOCRATIC PLATFORM FROM 1840 TO i860. 



( * Resolved, That Congress has no power to charter a 

 United States bank; that we believe such an institution one 

 of deadly hostility to the best interests of the country; 

 dangerous to republican institutions and the liberties of 

 the people, and calculated to place the business of the 

 country within the control of a concentrated money power, 

 above the laws and the will of the people. ' ' 



* * "I sincerely believe with you, that banks are 

 more dangerous than standing armies. * * Put down 

 the banks, and if this country cannot be carried through 

 the longest war, against her most powerful enemy, with- 

 out loading us with perpetual debt, I know nothing of my 

 countrymen. " Thomas Jefferson. 



In a letter to Mr. Gallatin, December 13, 1803, Mr. 

 Jefferson said of the old United States bank: 



u This institution is one of most deadly hostility exist- 

 ing against the principles and form of our constitution. 



"The nation is at this time strong and united in its 

 sentiments, and cannot be shaken. But suppose a series 

 of untoward events should occur, sufficient to bring into 

 doubt the competency of the government to meet a crisis 

 of great danger, an institution like this, penetrating by its 

 branches every part of the union, acting by command and 

 in phalanx, may in a critical moment upset the government. 



u / deem no government safe which is under the vas- 

 salage of any self-constituted authorities, or any other 

 authority than that of the nation or its regular functiona- 

 ries. What an obstruction could these banks be in time 

 of war! They might dictate to us the peace we should 

 accept, or withdraw their aid. 



