Speech of James Clarke Esq of Indiana Delivered in the Convention to Amend T

Cover Speech of James Clarke Esq of Indiana Delivered in the Convention to Amend T
Speech of James Clarke Esq of Indiana Delivered in the Convention to Amend T
James Clare
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Banking, sir, modern bank- awakened energies of a free people, ing, I hold to be a device of Satan. It >ut, sir, these corporate bodies some- contains within it all the evils inherent nes tail, and when they fail, I ask you in other corporations for money making pnrposes, and also the gambling and to be a few merchants In our cities swindling principles of lotteries. These have overtraded. This community, sir, may be harsh terms, but is it not noto- reminds me of the observation that rious that... modern banking promotes " Boston is Massachusetts, and Massa- gambling'in stocks; in goods ; in western chusettsis the United States. " But how wild lands ; in town lots; and in cities was the community to be ruined ! on paper, to the detriment of lawful in- Why, a gentleman from the city, on dustry ? Banking also swindles society my right, (Mr. Biddle) says, if the banks by producing fluctuations in the value of Pennsylvania had not stopped pay- of the currency, and the refusal of the ment, they would have been stripped of banks, last May, to pay their debts, has their specie; and permit me to ask of the character of swindling.

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