Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-09-03
RICHMOND. SEPTEMBER 3.


RICHMOND, SEPTEMBER 8.
TO THE EDITOR OF TIE ENQUIRER.
have read "a long article in the Natl
onal lnteiligencer, on the subject OF the
Bank of the United States which con-
iains passages that are worthy of com.
ment. shall not analyze il particularly:
bur otiera few haSiy and dcsulIory re
marks upon few points which arrest my
attention.
IL is absurd to allege that the creation
OF the National Bank, diffused over the
whole union. and possessing an immense
capital, has not had the effect of Gripping
many OF the state banks. If certain
quantity and no more of circulating me-
dunn be necessary for the purposes of the
country, and The National Bank is 10 sup
ply large proportion Of il, either in the
shape OF notes or bank credits, it follows
thai thus far at leas, il must be injurious
TO the state institutions.
The prodigious advantages from receiv.
ing the deposi,es ofalltbe revenue Of the
U.S,aies are hardly TO be calculated. They
give preference 10 The notes issued by
that bank which will probably, i'll lime,
overshadow, like the Upas tree, all the
state banks. Indeed, MIR Sergeant, The
great champion fort bank, in his speech
Oh the sc'le JdciaS question, admitted that
lie appIehcnded the destruction of ihe
state banks from the establishment of the
National Bank. Under such circumstan.
ces, II l. surely not wonderful thai the
state authorities and the directors Of The
| state banks should endeavor, by all fair
means, TO parry The evil. TO macy of The
state soVereignties their banks are as
convenient perhaps as necessary"
as The National Bank IS 10 ibe u. States.
| IL beliooveS them therefore TO give 30 their
| own the same protection, thai the Ma
| ,Ional Bank receives from lis creator.
Doubtful as il may be, Vet admitting that
Congress has a right TO establish bank,
II does not follow that the people OF the
states are TO allow the general government
the exclusive privilege OF saying tohdt they
shall receive for Their tobacc0, cotton aud
wheat, or even fortheir chickens and eggs
in short ,oi regulating all their municipal
| and individual concerns.
Ii is clear that there's, as there should b.,
good understanding between the trea
suiy department and HE Bank of the u.
States. An example worthy of imitation
| by The stale authorities and STATE banks !
| AS a matter 0i accommodations TO tie
| bank, II is but reasonable that due notice
should he given when the treasury has
| OCCASION TO transfer heavy sums from one
| point 10 another but il does not seem to
| he mailer OF right under Tie law.
| The bank may not be bound TO redeem
at one place ihenoi pay able at another,
but II will always he easy for the treasury
| 10 deposit the notes wherever iIIey are
| payable, and 10 demand transfer OF the
amount 10 any other quarter it may de
sigDate.-Nelther the treasury nor the
bank of the United States is charged with
such d design; but il is apparent that the
doctrines held by the former, and Tie
practises pursued by The latter are at war
with the existence of the slate banks.
Why were loans lavishly made at first,
and then followed by uneXamplrd cur
tailmenis? Why are HE notes oiihe bank
of the u. States almost Withdrawn from
circulation, when there is no foreign de-
mand for specie, and bills of exchange al
or below par? Why does that bank fore
go Tie advantages of dividends TO the
stockholders Why keep down lis dis
counts below IFS capital He that has
eyes must see that The directors OF that
bank are determined, like some devout
men OF old, 10 endure present penance
for future reward. Having once disposed
OF all the schismatiCs and disseHteTs the
true and universal church musl flourish,
and the faithful meet their full recon.
pense But is there no danger of the
liberty Of the subject from this vast accu-
mutation OF power? May moi the eccle
sastical overwhelm the civil government
When war RACES, and taxes cannot bc le
We'd, 10 whom will the government lool
for succorl Toa body feeling strength
aye--and who will make you feel tie ct
feels Of il too. Then comes the quiz
pro quo" You have no other resort.
have no comprehension want money
! want an extension Of charter, and olhe
privileges so oU-aud YET sOWe o
the covert friends of that bank, re bu
sy in crying om "no diyidends-no divi
deuds" against such OF the state banks 4
have the tirmness 10 aci on tie defensive
aud TO meet The bank OF the u. States il
it's own way. ClVlS.
BANK or THE UNITED STATES.
Tie expose from The National lnteIli
genccY, IN rclle 10 Mess Register, pre-
senis a clear aud Ingenious view at iht
arrangements between The Treasury an,
ibe Bank. But II is our misfortune 1