Financial Oppression Quotes
He did indeed kill the Bank of the United States by exercising the Presidential Veto on the legislation renewing the Bank’s government charter. The Bank was privately owned but handled all the fiscal functions for the Government and holding the United States deposits. The Bank owners and executives were not supports of Jackson and opposed him on many issues. Jackson thought it outrageous that a private bank, not under the control of the people or the representatives of the people, should have a monopoly on the banking functions of the United States. Vetoes were very unusual then. All the presidents before Jackson together vetoed only 12 laws. Jackson himself vetoed 13 including the Bank of America.
Stamp was a banker and the 2nd richest man in England at the time. Yet he warned about aspects of banking that needed reform and regulation.
This is one of the proverbs of King Solomon of the Jews, son of King David.
Grandfather of President John F. Kennedy. Standard Oil had a monopoly on kerosene, a major fuel at the time. The company announced an extra $17 million dividend to shareholders and then raised the price of kerosene throughout the country to pay for it. Some, like Fitzgerald, saw this as a de facto regressive tax levied by a private corporation on the poor and middle class.