Pres. Andrew Jackson Warned against the Fed, a Private Central Bank


	Pres. Andrew Jackson Warned against the Fed, a Private Central Bank

blueridge

9-23-2009 9:44 PM

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tags:

fed, federal reserve banks, andrew jackson, veto message

blueridge says:

This was his Veto letter for a private central Bank bill sent to him (under the guise of patriotism) on July 4th, 1832. The Fed, in principle, is precisely what he opposed, and his historic letter tells why.

This is relevant because Congress is considering passing a bill to audit the Fed here and you can watch live Fri. Sept. 25th

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color:#cccccc;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/4613fef6-bcc5-49d5-b9f4-550e9e08b606/4512EEFE-B98B-4C0C-B577-7361E0AB4434/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://history.furman.edu/benson/alpha/www/docs/ajveto.htm" href="http://history.furman.edu/benson/alpha/www/docs/ajveto.htm" style="font-size: 11px;">history.furman.edu</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://history.furman.edu/benson/alpha/www/docs/ajveto.htm"><CENTER>VETO MESSAGE.</CENTER></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://history.furman.edu/benson/alpha/www/docs/ajveto.htm"><ADDR>WASHINGTON, <EM>July 10, 1832</EM></ADDR>
<EM>To the Senate:</EM></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://history.furman.edu/benson/alpha/www/docs/ajveto.htm"><P>
<FONT size="-1" color="red"><A name="p2">[p2]</A></FONT>
The bill "to modify and continue" the act entitled "An act to incorporate the subscribers to the Bank of the 
United States" was presented to me on the 4th July instant. Having considered it with that solemn regard 
to the principles of the Constitution which the day was calculated to inspire, and come to the conclusion 
that it ought not to become a law, I herewith return it to the Senate, in which it originated, with my 
objections.
 </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://history.furman.edu/benson/alpha/www/docs/ajveto.htm">some of the powers and privileges 
possessed by the existing bank are unauthorized by the Constitution, subversive of the rights of the States, 
and dangerous to the liberties of the people</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://history.furman.edu/benson/alpha/www/docs/ajveto.htm">The many millions which this act proposes to bestow on the stockholders of the 
existing bank must come directly or indirectly out of the earnings of the American people</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://history.furman.edu/benson/alpha/www/docs/ajveto.htm">more than a fourth part of the stock is held by foreigners and the 
residue is held by a few hundred of our own citizens, chiefly of the richest class</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4512EEFE-B98B-4C0C-B577-7361E0AB4434/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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