Incredible Quote from President Andrew Jackson on the Evils of Banking Appears on Internet

Lately an incredible quote from President Andrew Jackson’s 1837 farewell address has been circulating on the internet. For all those who have begun to see the evils that have befallen our nation since it was taken over by the banking oligarchy this is a MUST READ.

. . . In reviewing the conflicts which have taken place between different interests in the United States and the policy pursued since the adoption of our present form of Government, we find nothing that has produced such deep-seated evil as the course of legislation in relation to the currency. The Constitution of the United States unquestionably intended to secure to the people a circulating medium of gold and silver. But the establishment of a national bank by Congress, with the privilege of issuing paper money receivable in the payment of the public dues, and the unfortunate course of legislation in the several States upon the same subject, drove from general circulation the constitutional currency and substituted one of paper in its place.

It was not easy for men engaged in the ordinary pursuits of business, whose attention had not been particularly drawn to the subject, to foresee all the consequences of a currency exclusively of paper, and we ought not on that account to be surprised at the facility with which laws were obtained to carry into effect the paper system. Honest and even enlightened men are sometimes misled by the specious and plausible statements of the designing. But experience has now proved the mischiefs and dangers of a paper currency, and it rests with you to determine whether the proper remedy shall be applied.

The paper system being founded on public confidence and having of itself no intrinsic value, it is liable to great and sudden fluctuations, thereby rendering property insecure and the wages of labor unsteady and uncertain. The corporations which create the paper money cannot be relied upon to keep the circulating medium uniform in amount. In times of prosperity, when confidence is high, they are tempted by the prospect of gain or by the influence of those who hope to profit by it to extend their issues of paper beyond the bounds of discretion and the reasonable demands of business; and when these issues have been pushed on from day to day, until public confidence is at length shaken, then a reaction takes place, and they immediately withdraw the credits they have given, suddenly curtail their issues, and produce an unexpected and ruinous contraction of the circulating medium, which is felt by the whole community. The banks by this means save themselves, and the mischievous consequences of their imprudence or cupidity are visited upon the public. Nor does the evil stop here. These ebbs and flows in the currency and these indiscreet extensions of credit naturally engender a spirit of speculation injurious to the habits and character of the people. We have already seen its effects in the wild spirit of speculation in the public lands and various kinds of stock which within the last year or two seized upon such a multitude of our citizens and threatened to pervade all classes of society and to withdraw their attention from the sober pursuits of honest industry. It is not by encouraging this spirit that we shall best preserve public virtue and promote the true interests of our country; but if your currency continues as exclusively paper as it now is, it will foster this eager desire to amass wealth without labor; it will multiply the number of dependents on bank accommodations and bank favors; the temptation to obtain money at any sacrifice will become stronger and stronger, and inevitably lead to corruption, which will find its way into your public councils and destroy at no distant day the purity of your Government. Some of the evils which arise from this system of paper press with peculiar hardship upon the class of society least able to bear it. A portion of this currency frequently becomes depreciated or worthless, and all of it is easily counterfeited in such a manner as to require peculiar skill and much experience to distinguish the counterfeit from the genuine note. These frauds are most generally perpetrated in the smaller notes, which are used in the daily transactions of ordinary business, and the losses occasioned by them are commonly thrown upon the laboring classes of society, whose situation and pursuits put it out of their power to guard themselves from these impositions, and whose daily wages are necessary for their subsistence. It is the duty of every government so to regulate its currency as to protect this numerous class, as far as practicable, from the impositions of avarice and fraud. It is more especially the duty of the United States, where the Government is emphatically the Government of the people, and where this respectable portion of our citizens are so proudly distinguished from the laboring classes of all other nations by their independent spirit, their love of liberty, their intelligence, and their high tone of moral character. Their industry in peace is the source of our wealth and their bravery in war has covered us with glory; and the Government of the United States will but ill discharge its duties if it leaves them a prey to such dishonest impositions. Yet it is evident that their interests can not be effectually protected unless silver and gold are restored to circulation.

These views alone of the paper currency are sufficient to call for immediate reform; but there is another consideration which should still more strongly press it upon your attention.

Recent events have proved that the paper-money system of this country may be used as an engine to undermine your free institutions, and that those who desire to engross all power in the hands of the few and to govern by corruption or force are aware of its power and prepared to employ it. Your banks now furnish your only circulating medium, and money is plenty or scarce according to the quantity of notes issued by them. While they have capitals not greatly disproportioned to each other, they are competitors in business, and no one of them can exercise dominion over the rest; and although in the present state of the currency these banks may and do operate injuriously upon the habits of business, the pecuniary concerns, and the moral tone of society, yet, from their number and dispersed situation, they can not combine for the purposes of political influence, and whatever may be the dispositions of some of them their power of mischief must necessarily be confined to a narrow space and felt only in their immediate neighborhoods.

But when the charter for the Bank of the United States was obtained from Congress it perfected the schemes of the paper system and gave to its advocates the position they have struggled to obtain from the commencement of the Federal Government to the present hour. The immense capital and peculiar privileges bestowed upon it enabled it to exercise despotic sway over the other banks in every part of the country. From its superior strength it could seriously injure, if not destroy, the business of any one of them which might incur its resentment; and it openly claimed for itself the power of regulating the currency throughout the United States. In other words, it asserted (and it undoubtedly possessed) the power to make money plenty or scarce at its pleasure, at any time and in any quarter of the Union, by controlling the issues of other banks and permitting an expansion or compelling a general contraction of the circulating medium, according to its own will. The other banking institutions were sensible of its strength, and they soon generally became its obedient instruments, ready at all times to execute its mandates; and with the banks necessarily went also that numerous class of persons in our commercial cities who depend altogether on bank credits for their solvency and means of business, and who are therefore obliged, for their own safety, to propitiate the favor of the money power by distinguished zeal and devotion in its service. The result of the ill-advised legislation which established this great monopoly was to concentrate the whole moneyed power of the Union, with its boundless means of corruption and its numerous dependents, under the direction and command of one acknowledged head, thus organizing this particular interest as one body and securing to it unity and concert of action throughout the United States, and enabling it to bring forward upon any occasion its entire and undivided strength to support or defeat any measure of the Government. In the hands of this formidable power, thus perfectly organized, was also placed unlimited dominion over the amount of the circulating medium, giving it the power to regulate the value of property and the fruits of labor in every quarter of the Union, and to bestow prosperity or bring ruin upon any city or section of the country as might best comport with its own interest or policy.

We are not left to conjecture how the moneyed power, thus organized and with such a weapon in its hands, would be likely to use it. The distress and alarm which pervaded and agitated the whole country when the Bank of the United States waged war upon the people in order to compel them to submit to its demands can not yet be forgotten. The ruthless and unsparing temper with which whole cities and communities were oppressed, individuals impoverished and ruined, and a scene of cheerful prosperity suddenly changed into one of gloom and despondency ought to be indelibly impressed on the memory of the people of the United States. If such was its power in a time of peace, what would it not have been in a season of war, with an enemy at your doors? No nation but the freemen of the United States could have come out victorious from such a contest; yet, if you had not conquered, the Government would have passed from the hands of the many to the hands of the few, and this organized money power from its secret conclave would have dictated the choice of your highest officers and compelled you to make peace or war, as best suited their own wishes. The forms of your Government might for a time have remained, but its living spirit would have departed from it.

The distress and sufferings inflicted on the people by the bank are some of the fruits of that system of policy which is continually striving to enlarge the authority of the Federal Government beyond the limits fixed by the Constitution. The powers enumerated in that instrument do not confer on Congress the right to establish such a corporation as the Bank of the United States, and the evil consequences which followed may warn us of the danger of departing from the true rule of construction and of permitting temporary circumstances or the hope of better promoting the public welfare to influence in any degree our decisions upon the extent of the authority of the General Government. Let us abide by the Constitution as it is written, or amend it in the constitutional mode if it is found to be defective.

The severe lessons of experience will, I doubt not, be sufficient to prevent Congress from again chartering such a monopoly, even if the Constitution did not present an insuperable objection to it. But you must remember, my fellow-citizens, that eternal vigilance by the people is the price of liberty, and that you must pay the price if you wish to secure the blessing. It behooves you, therefore, to be watchful in your States as well as in the Federal Government. The power which the moneyed interest can exercise, when concentrated under a single head and with our present system of currency, was sufficiently demonstrated in the struggle made by the Bank of the United States. Defeated in the General Government, tho same class of intriguers and politicians will now resort to the States and endeavor to obtain there the same organization which they failed to perpetuate in the Union; and with specious and deceitful plans of public advantages and State interests and State pride they will endeavor to establish in the different States one moneyed institution with overgrown capital and exclusive privileges sufficient to enable it to control the operations of the other banks. Such an institution will be pregnant with the same evils produced by the Bank of the United States, although its sphere of action is more confined, and in the State in which it is chartered the money power will be able to embody its whole strength and to move together with undivided force to accomplish any object it may wish to attain. You have already had abundant evidence of its power to inflict injury upon the agricultural, mechanical, and laboring classes of society, and over those whose engagements in trade or speculation render them dependent on bank facilities the dominion of the State monopoly will be absolute and their obedience unlimited. With such a bank and a paper currency the money power would in a few years govern the State and control its measures, and if a sufficient number of States can be induced to create such establishments the time will soon come when it will again take the field against the United States and succeed in perfecting and perpetuating its organization by a charter from Congress.

It is one of the serious evils of our present system of banking that it enables one class of society–and that by no means a numerous one–by its control over the currency, to act injuriously upon the interests of all the others and to exercise more than its just proportion of influence in political affairs. The agricultural, the mechanical, and the laboring classes have little or no share in the direction of the great moneyed corporations, and from their habits and the nature of their pursuits they are incapable of forming extensive combinations to act together with united force. Such concert of action may sometimes be produced in a single city or in a small district of country by means of personal communications with each other, but they have no regular or active correspondence with those who are engaged in similar pursuits in distant places; they have but little patronage to give to the press, and exercise but a small share of influence over it; they have no crowd of dependents about them who hope to grow rich without labor by their countenance and favor, and who are therefore always ready to execute their wishes. The planter, the farmer, the mechanic, and the laborer all know that their success depends upon their own industry and economy, and that they must not expect to become suddenly rich by the fruits of their toil. Yet these classes of society form the great body of the people of the United States; they are the bone and sinew of the country–men who love liberty and desire nothing but equal rights and equal laws, and who, moreover, hold the great mass of our national wealth, although it is distributed in moderate amounts among the millions of freemen who possess it. But with overwhelming numbers and wealth on their side they are in constant danger of losing their fair influence in the Government, and with difficulty maintain their just rights against the incessant efforts daily made to encroach upon them. The mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges which they have succeeded in obtaining in the different States, and which are employed altogether for their benefit; and unless you become more watchful in your States and check this spirit of monopoly and thirst for exclusive privileges you will in the end find that the most important powers of Government have been given or bartered away, and the control over your dearest interests has passed into the hands of these corporations.

The paper-money system and its natural associations–monopoly and exclusive privileges–have already struck their roots too deep in the soil, and it will require all your efforts to check its further growth and to eradicate the evil. The men who profit by the abuses and desire to perpetuate them will continue to besiege the halls of legislation in the General Government as well as in the States, and will seek by every artifice to mislead and deceive the public servants. It is to yourselves that you must look for safety and the means of guarding and perpetuating your free institutions. In your hands is rightfully placed the sovereignty of the country, and to you everyone placed in authority is ultimately responsible. It is always in your power to see that the wishes of the people are carried into faithful execution, and their will, when once made known, must sooner or later be obeyed; and while the people remain, as I trust they ever will, uncorrupted and incorruptible, and continue watchful and jealous of their rights, the Government is safe, and the cause of freedom will continue to triumph over all its enemies.

But it will require steady and persevering exertions on your part to rid yourselves of the iniquities and mischiefs of the paper system and to check the spirit of monopoly and other abuses which have sprung up with it, and of which it is the main support. So many interests are united to resist all reform on this subject that you must not hope the conflict will be a short one nor success easy. My humble efforts have not been spared during my administration of the Government to restore the constitutional currency of gold and silver, and something, I trust, has been done toward the accomplishment of this most desirable object; but enough yet remains to require all your energy and perseverance. The power, however, is in your hands, and the remedy must and will be applied if you determine upon it….


6 Responses

  1. [...] Richard C. Cook Featured Writer Dandelion Salad richardccook.com January 28, [...]

    Pingback by Andrew Jackson: Farewell Address – March 4, 1837 « Dandelion Salad on January 28, 2010
  2. As hard as it would be for many progressives to swallow, i think alot of Ron Paul’s anti-govt message contains alot of merit that would be beneficial towards a different lasting progressive paradigm in the U.S.A

    The learned wisdom of ‘The Protocols of Zion’ do clearly, in a somewhat cocksure and arrogant way, spell out the mis-applied notions of consensus democracy relating to the majority of attributes awakened collectively in human nature, when subjected to political situations that recall the primordial instincts of our lower un-reasoned instincts.

    Protection from this inherent natural step of evolution ( which I don’t mean in a strictly Darwin sense) is a structural shift away from the systematic coercion and collaboration in the dominance of this aspect of nature being leveraged over whole societies by direct pyramid schemes of tyranny as blatant as what Governments and monopolized wealth are in the present day with Debt-based financiers on top.

    It seems to me, if Ron Paul’s Competing Currencies legislation, included not just gold and silver, but all items that are used and traded legitimately in an economy, as the standard of universal freedom and liberty should mandate, then the structural basis of govt. would be forever changed. For as Ricky Cook well knows, means of exchange systems are naturally all about convenience, and if an act like Ron Paul’s promoted guaranteed liberty from Govt. outlaw for all Competing Currencies, then despite what ever advantages any of these might have in the start relating to the previous environment of the monopolized private debt-interest system, true natural democracy, that of the economic sort, would be just as structurally inevitable as currently misapplied notions of democracy to human nature are at present.

    Comment by Nik on January 28, 2010
  3. paper gold?…another interesting quote…

    “In discussing the inadequacy of the present world money systems to carry on world trade, Guido Carli from Rome suggested ersatz money which would resemble paper gold which was to be presented to the world the following year. I was back in America when the announcement came. It was March 31, 1968. Most of the world reacted with amazement at the announcement that came from Europe stating that the nations of the world were ready to transact business with a new medium of exchange known as “paper gold.” But to all who follow the trend of monetary matters, the announcement was no surprise. For there was a feeling in the air that something momentous was coming.
    An editor wrote in the Financial Times,

    Something sinister is going on.

    With great interest, I followed the comments and reactions from world leaders.

    Carl Schiller, Germany’s financier, stated,

    There’s a worm in the apple somewhere.

    Pierre Paul Schweitzer seemed pleased. Schweitzer, the nephew of Albert Schweitzer, was an elite Protestant, born in Alsace-Lorraine, who had served as number three man in the bank of France, and had been elected managing director of the International Monetary Fund. Some declared that when paper gold was presented to the world on that March morning, Schweitzer declared,

    Gentlemen, we are right on schedule.

    72% of the nations in the IMF were considered under-developed. Schweitzer seemed especially dedicated to the task or policy of taking from the rich to give to the poor. This naturally made him popular with the majority in the IMF, who were elated at the prospects of acquiring some of America’s wealth regardless of the measures.”

    taken form the book by the late Dr. Cantelon The Day The Dollar Dies pg. 50

    and it translates to what? One World Government which according to these bankers will ultimately or supposedly lead to a better world? The words of Dr. Carroll Quigley…

    “I know of the operations of this network because I studied it for twenty years, and was permitted for two years in the early 1960′s to examine its papers and its secret records. I have no aversion to it, nor to most of its aims, and have for much of my life been close to it, and many of its instruments.” {pg. 64 Cantelon}

    and last but not least…

    “We are grateful to the Washington Post, the New York Times, Time magazine, and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during these years. But the world is now more sophisticated and prepared to march towards a world government which will never again know war, but only peace and prosperity for the whole of humanity. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto determination practiced in the past centuries. It is also our duty to inform the press of our convictions as to the historic future of the century.” http://en.wikipedia.org/wiki/David_Rockefeller

    Comment by Gerry on January 28, 2010
  4. All this talk about the medium of exchange-money, gold, or silver. As Richard Cook has said before, there is not enough gold in the world to go around. Besides, gold and silver can be just as controlled as paper. The creator of the universe whom we call God all through the bible pointed to the day that mankind would be delivered from the seed of the serpent. That will happen with the destruction of Babylon. What is Babylon? I say it is the medium of exchange-money. In fact, it is the very idea of the necessity of the medium of exchange in the economoy of the human race. It is how the seed of the serpent has purchased their power. Richard Cook and I disagree on this. But I say that as long as any kind of medium of exchange exists, those seeking power over the human race and know how to use it to secure that power will be ever working to do so. The very last sentence in the Book of Zacharia in the Catholic Douay Rheims bible says that the merchant shall be no more in the house of the Lord in that day. I believe that God was talking through Zacharia of the international corporations and banks. To me, Isaias Chapter 46 verses 14 through 21 is speaking about any medium of exchange. I also believe that the Apocalypse chapters 17, 18, and 19 which speaks of Babylon is speaking about the medium of exchange although I don’t know who the armies of heaven are. Anyway, we shall soon see.

    Comment by Donna Gaddis on January 29, 2010
  5. [...] C Cook’s syn på samma ämne. Cook tipsar även om detta! – Lately an incredible quote from President Andrew Jackson’s 1837 farewell address has [...]

    Pingback by Still report « KOALITION FÖR PENNINGREFORM on January 29, 2010
  6. [...] http://www.richardccook.com/2010/01/28/incredible-quote-from-president-andrew-jackson-on-the-evils-o... [...]

    Pingback by PumaLiberty on February 7, 2010
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Challenger Disaster

In January 1986 Cook became the first NASA official to testify publicly on the space agency's prior knowledge of flaws in the solid rocket booster O-ring joints that destroyed Challenger and took the lives of its seven astronauts. He told his story in the book Challenger Revealed, published in 2007. Publisher's Weekly wrote of the book: "Easily the most informative and important book on the disaster."

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What I am calling the 'Cook Plan' is to pay each resident of the U.S. a dividend, by means of vouchers for the necessities of life, in the amount of $1,000 per month per capita starting immediately as our fair share of the resources of the earth and the productivity of the modern industrial economy. The money would then be deposited in a new network of community savings banks to capitalize lending for consumers, small businesses, and family farming.

Omna Last

The Lite in the Heart can be experienced when there is enough Love awareness and a strong enough energy field for consciousness to enter deep within the Heart to the place where the Atma lives, shining more brightly than a million Suns.