The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1811-01-23
NO. VI.

1r great nrc snoutu oe hiuuio", anu All
the bane paper be thrown into it, and the u
nited States bank charter, and the charters OF
all the other banks, together with all the
promissory notes, hills, and bonds, belonging
to the banks, with all their books 1t the hrc
should wholly consume them, the ashes would
add mere real wealth 10 the nation than all OF
them put together. Ht'''" ia
If you we're to give the presidents and d.
rectors scorching, they might have some l.
dea Of the torment in which they had kept
thousands Of men day and night for twenty
years past This is speaking OF those SELF
digniied ar;stocracies with less solempity
than they are accustomed to, yet for this they
must blame the subject, not the writer. With
my impressions of the innate depravity OF
banks, il is impossible for me 70 feel respect
for them, and probably the shew Of respect
from the world to them is no more like real
ity, than their paper is like silver and
gold. t4aai
Lending and borrowing have been evils in
our world ever since the food. Men have
been enough disposed to be rich without la
bour, and 10 have their houses and lands IN
their pockets. There was no more need of
our government organizing abank, than there
was OF organizing and regulating fraud and
adultery. Indeed or this subject, it is best to
have no affected charity or concealment.
The national bank was organized, by the
enemies of republican institutions, to aid the
funding system, by which the soldiers of the
revolution were robbed--to aid the collec-
tion of an enormous revenue 10 support that
system--and to establish powerful aristocra-
cy of rich federalists, who, il not weH-6orn in
the first instance, might become well-born,
sf,er they had amassed fortunes by lending
shadows and receiving substances in pay
ment. Il
The direction Of the bank has not been in
REPUBLICAN hands. l8-25tssT of the stock
have been owned abroad, mostly by British
subjects, who had perfect ri sht to own and
enjoy the cmoluments till the %th OF March,
l8l ], beyond which time no rehubHcan men,
Der Of congress will. be disposed to extend
them. Federai members and federal papers
will be found on the other side of the equa-
ton.
Having expressed these opinions, let others
believe the bank to have originated in the
purcst motives and most di.nterested intelli-
genoe, but Let the legitimate effects of the
bank test the wisdom of its contrivance. -
What, in the course of 20 years have the
bank of the y. States and its branches done
to advance the safety and happiness of the
people of the United States :" They have
subjected all our business, which ought to
have been regulated by the laws of industry,
to rules of a bank have expelled eur specie,
have fostered enormous specuiations, have
drawn the representatives Of our houses and
lands into their vaults, and have finally placed
other banks and individuals in as great hor-
rour at the approaching dissolution of the u.
States bank, as iftheir own dissolution would
be the immediate consequence.
1t is important for us to know at this time,
whether this bank has been Gas in it's charter
is prssumed) "productivc Of considerable
advantages to trade and industry in general" "
In twenty years We have known nothing Of
the solidily or insoIidity of banks or of indi-
yiduals. This great bank has drawn a
veil between US and them. Let this veil be
drawn aside and we shall see more than
some could wish. We shall obtain facts infi-
nliely important to Legislators, and to common
people, and ifin the result IL shall ahIear that
a national bank may be a ndtiouai 6iesnng, con-
gress will establish o,.e, ryhich shall yisld it's
hreffs TO the rich and the hsor, TO the men,
.,,n,n and children of fLe {u;t-6 S,,f..