At best, in such depression times, monetary policy is a feeble reed on which to lean. - John Kenneth Galbraith

I write with two things in mind. I want to be right with my fellow economists. After all, I've made my life as a professional economist, so I'm careful that my economics is as it should be. But I have long felt that there's no economic proposition that can't be stated in clear, accessible language. So I try to be right with my fellow economists, but I try to have an audience of any interested, intelligent person.

[W]ith sound-money and gold-standard morality transcendent, Jackson's destruction of the Bank was all but universally regarded as a villainous action. ...In more recent times, as the conventional wisdom of bankers has come... modestly into question and a heightened democratic ethos has ascribed both perception and virtue to the common man, Jackson's action has been viewed with contrasting warmth. He was... speaking for the small, energetic and aspiring folks of the new states, the new farms and the frontier.
He was, in an important respect, their accidental ally. He opposed the bank as a monopoly—a monster which, as Biddle held, had power to rival that of the state. ...[I]t was also the power of his political enemies. But he favored hard money—he was for currency consisting of gold and silver and for eschewing all paper as the instrument of the devil. In getting rid of the bank, he got... the softest [money] of all—an explosion of new banks, and avalanche of bank notes. But this, and the loans so allowed, were what his constituents most wanted. Had Andrew Jackson succeeded in establishing... hard money... his name would have been reviled by the... small, energetic and aspiring folk of the frontier. Historians, in pondering whether Jackson was right or wrong on financial matters, must allow... a third possibility... that he was confused.

I would now, however, more strongly emphasize, and especially as to the United States, the inequality in income and that it is getting worse — that the poor remain poor and the command of income by those in the top income brackets is increasing egregiously. So is the political eloquence and power by which that income is defended. This I did not foresee.