Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1818-09-08
NATIONAL. BANK.

Al tie time when This bank was in agi-
tatlon, we attempted 10 raise our feeble
voice against ii. We regarded il as
breach ofthe constitution as one against
which every republican had lifted up his
hand i'll SO, and which he was equally
bound 10 resist III 1916. But il was i'm
vain that any remOnstrances were made :;
that republican phaianx IN congress, or
that the press denounced it; the charter
OF the bank was triumphant, and the great
charter OF our rights was tramplcd in TIE
dust. The desire Of purifying our circu-
iating medium, and OF equaiizing the ex-
Change, was too powerful for oar rights,
Tor consistency, or the constitution.
We attempted 10 show at thai time, tliat
this idea OF equalizing the exchange in all
cases By national institution, was a
fraud upon the public /; That The old bank
had not uniformly done il; that the con
lempiated bank could not effect il in every
case that 1t could not pay up every pos
sIble balance of trade between every one
city and others; for that this would be to
subject itself 10 the expense of an "inces-
SAINT transmission of specie" from one
office 10 another.
Now, what turns ont 10 be The fact p
That this argument OF lis friends vas re-
ally deluslon or a fraud that the mother
bank now refuses TO receive the notes of
It's offices, and fhev, the notes OF each
other: that there is no national circuIai-
ing medium; that notes are falling in value
IN places where they are nat issued-fhat
"a brokerage has already taken place, las
Niles says y D per cent. am told, is re-
CURED between Baltimore and Washing
Ton ciiy-ksfh rays, presume" The PHI
laaelphia Press gives us even this ini0r-
nation:
"On Friday, the day On which the Circular
was issued, notes OF the bank aud che cks upon
the bank, were paid at The bank one half in
branch notes when The branch notes were
refused ana were carried back 10 the United
States Bank where they had been received,
they were there also r,)VSfd, and the holders Of
them, who had received them from The bank
were thrown into the brokers' hands to get III .
bFanchnotes shaved. ;fany individual should
have ddred to play such tricks he wOnld he
called S,ciHdler lie would be scented ont of
honorable society, and fair dealers wOnId shun
him is d Cheat! But "a bunk may do il with
IMMUNITY and the United States Bank NAV
hope to be applauded for doing that which
perhaps no one of It's directors would dare TO
DO IN his private capacity These corpora
tons have marble hearts and most perfect
contempt for public opinion They feel their
streHgti anh they abuse 1t. They feel pouer
and forget right !"
Ills is ShdmJHtTdnsdetIOn the
s"ddeHneSS of tIle resolution Itself argues
great want Of management aud justice
IL seems 10 iOTiiiy Tie idea now afioat.
That II WAS encouragement which precipi-
tales them into the present Arrangement.
II is said, HAT The Boston branch has
torsomc time past, demanded from J to
3th per cent, discount OH The notes Of o..
iher offices, according TO the distance Of
tie offices, &c.-and that il is now CON
tcmplaied 10 fix a tariff of discounts, by
which one office may in future draw upon
anolher.-But public opinion may still he
strong enoughio deieaitlls arrangement.
But tic public seem strongly 10 be in
pressed with anidea that tie mother bank
las been precipitaied into lis present diff
i1cuiles by IFS own miscondncis. To cyi-
scerale The truth, it possible, OH this sub
ieci, we publish the following iedging
ourselves 10 give any decent reply, from
Philadelphia or elsewhere, prompt Ia
sertion. TIE subject is important, and
deserves Investigation