The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-06-28
(Tok. 8,-A--,---.No. IS.

ca themselves exceedingly improperly
believe they have done so many wears past
on some occasions--but this is not the " ay
TO seek redress for their misconduct Sir.
i nave heard OF a man who, when irritated,
IN order to obtain satisfaction, would seat
himself On a chafing. dish of hot GOALS
he mode which is proposed to punish the
directors tor their real or supposed miscon-
duct, rs equally wise in this instance.
| would not lnjure the public welfare and heap
| rum on very many innOcen ment for inju-
RES long since committed, If at all, by The Sc
directors, and which never car be revived,
Besides, this evil is gradually correcting IT
sen. When there was only the bank OF the,
u. .. OF very few others the consequence
was. that it was species OF iavortisn 10
get into the banks. aud "A privilege extend.
! ed only to particular friends.
Dut at the extent to which banks are car
RED atspresent, in rbe northern and middle
sta'es, to which the operation of the bank
Oh the Y >. is principally Continued; II is not
species OF favoritism to ob'ain bank ac-
| commodation. In the city of PHILADELPHIA
before the late alarm, produced b, agita ,ny
the question we are now discussing, every
man who Could produce good paper might
ger as much accommodation as he pleased;
and to this extent banks should always be
Carried, II once commenced. This is Il re-
medy tor tavoritism aud prevents tie bank
from being formidable as a political engine,
II we go to banking az all, let it be SO that
an good paper Can be Ccommotlated.-
When the banks compete Tor paper, It's
| then not system of favCritism IhIy RAJ
ther seek tor customers than select the m:
Such was the situation of Phisdelphia-
Nhat Is the consequence IF Con,rar, svs-
TEN in Richn end? In consequence 9 he
erection oil oank there with little pitiiut
capital, the discounts got into the hands of
few ta.ortes, and Richmond is stated by
some to- have almost become nest OF sha-
verss Those persons who are favorjtes 90
mo the back, get accommo dated with II, ge
discounts, on the strength of which hey
shave the paper OF others; but in Phil del.
phis the situation is essentially different,
IRON me redundancy of banking capital,
thus the evil OF politicai oppression and irya
tolerance to which the bank Of tie U. ). is
sad to be instrumental. is cured by the cs.
taohshInent OF other banks; but it is possi-
BILE that, to a certain extent, the undue in
fuence of banks geAerally may be revived
by putting down the bank of the u. :. add
creating want of banking Capital IN the
community IL there be a create den ant
for discounts than can be met b, the re-
naming banks, alter that of the u s. is desc
uoyed, then you revive with me remaiaipg
banks, that power OF political influence and
taVcritism which y GU are so anxious to avoid.
by the very means you axe 10 avoid It,
In perfectly well regulated state of So
ciety. 1t seems 20 ne things should DE so orr
dered, II 1t Can De effected, that Every ind,-
vlduai OF the community should obtain loans
On reasonable interest to anv extent ion.
winch he Can give ample security. In such
state OF things, an opportunity is afforded
to BRING INTO action. and to develope al the
resources OF the n.tion. to improve its apri-
culture. its manufactures ;te
and all the social arts 10 the creates, ms.
S'1le extent. Such was The safe ct Hol
land, such the state OF Eng I'D, before the
present disturbances in Euicpe-and mark
the result! Each country Polished ard inn
proved like ga deu, heir commerce ex.
tending over the world, and all the discoye
ries and arts which enrich and adorn scci
al lie, carried almost to the utmost limit
OF perfection. This state of things can be
effected IN his country only by the agency
of banks as we are every day increastnp
our population, commerce and aericu jt,,re
ctc and bring into action an increased ouan.
uty OF OBJECTS, n which money can be an.
vantageously employed a proportionabIy in
creased quantity oi circu ating medium or
OF banking capita' rs necessary 10 keep pace,
with the improvements and progress of so.
Getty IT this reasoning is just, it is surely
Improper to destroy our greatest mopied in.
stitut,on. and, consequently, Danish ir, m
circulation portion OF the circulating me-
dumi. at period when the state of the ma.
ton is capable OF employing to useful pur-
poses larger capital tban at a forne r ne
Rod. If tits apprehended that by Afford
ing this facility of borrowing monty L. the
extent have insisted on to very indivifiu
al who can give security. incau,ious men
will ruin them selves. ] answer, they vii, do
this in any state of things. To argue A.
i;ninst the use OF an institution from the ros.
sible abuse OF it, is not just mode OF rea-
soring sensUalist may destroy hinsels
by excesses in the enjoy ment of the table.
yet more temperate men will eat their din
ner That society should be deprived of
the use OF an institution from which its pru-.
dent members can obtain great advantsge.
because imprudent people will be ruined
by 1t, is 10 tax the valuable members of the
community for the benefit of the unwor-
thy.
| am informed, Mr. President h,t for
some years past, IN the state Of Fennsvl-
vania, any citizen ol that state could fbts,n.
Oh good security, from the banks, as MUCH
money as I've wanted. Sir, what astonisb
ing progress has sne made in every KIND oe
Improve ,and in every species Of wealth.
Look at the state which l have the bo,or-
! to represeD,, whose approximations a,bcon
banking Institutions have made berA-srs
| TO he extension OF such establishtBeflts =