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William Alexander Linn, Horace Greeley Founder and Editor of The New York Tribune, Chapter 2: first experiences in New York city-the New Yorker (search)
we are to the spoils system of to-day, says Horace White, it sounds oddly to read that bank charters were granted by Whig and Democratic Legislatures only to their own partizans. Not only was this the common practise, but shares in banks, or the right to subscribe to them, were parceled out to political bosses in the several counties. There was opposition to all banks in the agricultural counties, and the laboring classes were generally hostile to paper money. A meeting in the City Hall Park, in March, 1837, called to consider the high prices of the necessaries of life, adopted a report which said: There is another great cause of high prices, so monstrous in its nature that we could hardly credit its existence were it not continually before us-we mean the curse of Paper Money. Gold and silver are produced from the earth by labor; they are, or ought to be, earned from the producer by labor. No man nor combination can by Christian means collect a sufficiency of these metals to en