Jeniffer electronic book

But Jackson and his followers never even considered whether
its services and responsibilities were proportionate to its legal
privileges. The fact that any such privilege existed, the fact that any
legal association of individuals should enjoy such exceptional
opportunities, was to their minds a violation of democratic principles.
It must consequently be destroyed, no matter how much the country needed
its services, and no matter how difficult it was to establish in its
place any equally efficient institution.
The important point is, however, that the campaign against the National
Bank uncovered a latent socialism, which lay concealed behind the
rampant individualism of the pioneer Democracy. The ostensible grievance
against the Bank was the possession by a semi-public corporation of
special economic privileges; but the anti-Bank literature of the time
was filled half unconsciously with a far more fundamental complaint.
What the Western Democrats disliked and feared most of all was the
possession of any special power by men of wealth.


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