The duty of government is to leave commerce to its own capital and credit as well as all other branches of business, protecting all in their legal pursuits, granting exclusive privileges to none.

The quote "The duty of government is to leave commerce to its own capital and credit as well as all other branches of business, protecting all in their legal pursuits, granting exclusive privileges to none." by Andrew Jackson reflects his belief in limited government intervention in the economy. Jackson, the 7th President of the United States, emphasizes that commerce and business should operate freely, driven by their own capital and credit, without excessive interference from the government. His statement champions the idea of a free market where all individuals and enterprises are treated equally under the law.

This quote is rooted in Jackson’s broader political philosophy known as Jacksonian democracy, which advocated for the protection of the common man against entrenched elites. Jackson was a fierce opponent of monopolies and special privileges, particularly those granted by the federal government to institutions like the Second Bank of the United States. He believed that such favoritism distorted the economy and undermined democratic values by giving disproportionate power to the wealthy few.

By stating that government should “grant exclusive privileges to none,” Jackson makes it clear that he opposed any system that favored one business or group over another. His vision of economic fairness involved equal opportunity, where individuals could succeed through hard work and free competition, not through government-backed advantage. This sentiment was a key factor in his decision to veto the recharter of the national bank, a move that reflected his commitment to decentralization and distrust of centralized economic power.

Ultimately, Jackson’s quote expresses a foundational principle of American economic thought: that the role of government should be to protect rights and ensure fairness, not to control or direct commerce. His words continue to resonate in debates about the balance between regulation and free enterprise, and the proper limits of government in the business world.