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Oh, Those Immigrants….

January 20, 2019

The first Bank of the United States was chartered in 1791.  That was a proper function of the nation, and was constitutional.  President Jefferson and other Republicans of his day (not to be confused, in any way, with modern day Republicans) were furious with the bank.  In 1811 the renewal of the bank charter will lose by one vote in the senate.

Then the War of 1812 unfolded as the United States declared war on the world’s greatest superpower.  Would you find it hard to fathom that our nation, as a result of pigheadedness, had no means to pay for military missions?

That is when wealthy immigrants provided loans and helped the nation to survive. 

Stephen Girard, a one-eyed French merchant in Philadelphia, and John Jacob Astor, a German fur trader in New York in large part financed the war.

And they then will correctly argue, following the war, that a second Bank of the United States must be created.  And it was.

Which the buffoon Andrew Jackson will then help destroy.

This timely trivia provided from John Marshall by Robert Brookhiser. (Page 157) Darn fine read.

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