Genocidal I can grant, but we are talking about bank policy here. It seems that all evidence says that the 100 years after Jackson were objectively some of the most economically dynamic for the United States, especially in comparison to Europe or any other place in the world during that period. How was the economy crippled?
It was my understanding that (and especially absent a central bank) the US economy became prone to frequent and periodic economic panics, uncontrolled periods of inflation and deflation, and general financial instability.
It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government. Equality of talents, of education, or of wealth can not be produced by human institutions. In the full enjoyment of the gifts of Heaven and the fruits of superior industry, economy, and virtue, every man is equally entitled to protection by law; but when the laws undertake to add to these natural and just advantages artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society — the farmers, mechanics, and laborers — who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their government. There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing.
pretty damn relevant today. (rent seeking, crony capitalism, lobbyists writing the bills)
