Failure of State Banks
The country was plagued by economic depression as a result of the Panic of 1837. Fitzpatrick's predecessor, Governor Arthur P. Bagby introduced measures to assist the state banks but the state legislature rejected most of the measures. All the state banks were closed by Fitzpatrick.
Read more about this topic: Benjamin Fitzpatrick, Governor of Alabama
Famous quotes containing the words failure, state and/or banks:
“Human beings are compelled to live within a lie, but they can be compelled to do so only because they are in fact capable of living in this way. Therefore not only does the system alienate humanity, but at the same time alienated humanity supports this system as its own involuntary masterplan, as a degenerate image of its own degeneration, as a record of peoples own failure as individuals.”
—Václav Havel (b. 1936)
“While the State becomes inflated and hypertrophied in order to obtain a firm enough grip upon individuals, but without succeeding, the latter, without mutual relationships, tumble over one another like so many liquid molecules, encountering no central energy to retain, fix and organize them.”
—Emile Durkheim (18581917)
“Three million of such stones would be needed before the work was done. Three million stones of an average weight of 5,000 pounds, every stone cut precisely to fit into its destined place in the great pyramid. From the quarries they pulled the stones across the desert to the banks of the Nile. Never in the history of the world had so great a task been performed. Their faith gave them strength, and their joy gave them song.”
—William Faulkner (18971962)