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 of, failure, state and/or banks:
“The moment a mere numerical superiority by either states or voters in this country proceeds to ignore the needs and desires of the minority, and for their own selfish purpose or advancement, hamper or oppress that minority, or debar them in any way from equal privileges and equal rights—that moment will mark the failure of our constitutional system.”
—Franklin D. Roosevelt (1882–1945)
“The moment a mere numerical superiority by either states or voters in this country proceeds to ignore the needs and desires of the minority, and for their own selfish purpose or advancement, hamper or oppress that minority, or debar them in any way from equal privileges and equal rights—that moment will mark the failure of our constitutional system.”
—Franklin D. Roosevelt (1882–1945)
““Well, well,” he said to himself, “you are not in Belgium; let us begin our apprenticeship in earnest, and so long as we are in the woods, howl heartily with the wolves.””
—For the State of Nebraska, U.S. public relief program (1935-1943)
“I am not impressed by the Ivy League establishments. Of course they graduate the best—it’s all they’ll take, leaving to others the problem of educating the country. They will give you an education the way the banks will give you money—provided you can prove to their satisfaction that you don’t need it.”
—Peter De Vries (b. 1910)