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PROPERTY FROM THE FORBES COLLECTION
JACKSON, Andrew (1767-1845), President. Autograph letter signed ("Andrew Jackson"), as President, to Andrew Jackson, Jr., Washington, 31 May 1832. 3 pages, 4to, small hole due to acidic ink, edges of center crease discreetly repaired, show through.
Details
JACKSON, Andrew (1767-1845), President. Autograph letter signed ("Andrew Jackson"), as President, to Andrew Jackson, Jr., Washington, 31 May 1832. 3 pages, 4to, small hole due to acidic ink, edges of center crease discreetly repaired, show through.
"MY SON, RECOLLECT I PAY NOT INTEREST"
His first term nearly complete, and his war against the bank of the United States swelling his popularity as he faces reelection, Jackson shows contempt for politicians and bankers in this letter to his adopted son Andrew Jackson Donelson (whom Jackson and his wife Rachel referred to "Andrew Jackson, Jr."): "I too could be contented to be with you in retirement, freed from those scenes of corruption that I am surrounded with, and which I am compelled to witness, but I must be resigned to my fate, and be always ready to say 'The Lord's will be done.'" He then takes up a piece of family business--"the purchase of Sam'l & Alexander's Lotts of Land adjoining me"--but his hatred of banks is never far from the surface. "I wish you to conclude the purchase. The note for which the steed colt was sold becomes due in July next for $500. It is payable in Bank.... You will close the contract, and on his executing a Deed...you are authorized to draw upon me for fifteen hundred dollars at ten days sight which will be honored & paid by me. My son recollect I pay not interest. Therefore let Samuel make arrangements for letting it out on interest." Of all the "scenes of corruption" in Washington, Jackson hated none more than the Second Bank of the United States and its leader, Nicholas Biddle. Calling the Bank a "hydra-headed monster" Jackson put all of his political resources into destroying it, removing the governments' funds from its vaults, and breaking the power of the monied classes to influence legislation. His own rough treatment at the hands of foreclosing bankers during the Panic of 1819 embittered him forever against the world of finance.
"MY SON, RECOLLECT I PAY NOT INTEREST"
His first term nearly complete, and his war against the bank of the United States swelling his popularity as he faces reelection, Jackson shows contempt for politicians and bankers in this letter to his adopted son Andrew Jackson Donelson (whom Jackson and his wife Rachel referred to "Andrew Jackson, Jr."): "I too could be contented to be with you in retirement, freed from those scenes of corruption that I am surrounded with, and which I am compelled to witness, but I must be resigned to my fate, and be always ready to say 'The Lord's will be done.'" He then takes up a piece of family business--"the purchase of Sam'l & Alexander's Lotts of Land adjoining me"--but his hatred of banks is never far from the surface. "I wish you to conclude the purchase. The note for which the steed colt was sold becomes due in July next for $500. It is payable in Bank.... You will close the contract, and on his executing a Deed...you are authorized to draw upon me for fifteen hundred dollars at ten days sight which will be honored & paid by me. My son recollect I pay not interest. Therefore let Samuel make arrangements for letting it out on interest." Of all the "scenes of corruption" in Washington, Jackson hated none more than the Second Bank of the United States and its leader, Nicholas Biddle. Calling the Bank a "hydra-headed monster" Jackson put all of his political resources into destroying it, removing the governments' funds from its vaults, and breaking the power of the monied classes to influence legislation. His own rough treatment at the hands of foreclosing bankers during the Panic of 1819 embittered him forever against the world of finance.