Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1821-05-08
FOR THE SPECTATOR.
Mn. WARREN,

discover in your paper, as we'll as in
other newspapers printed in this state,
many essays on the subject Of the State
Bank of Illinois.
1t must have been evident to every re-
f1ecting mind, that the peculiar embar-
easements which existed In this state, and
also over the whole union, were not ow-
ing to prodigality; but that they are the
consequence OF the circulating medium
having been in agreat degree annihilated,
which circumstance the best financiers O.
the country did not ioresee; therefore,
our legislature conceived it not only their
right, but their solemn duty, to grant re-
! liet to the people in some manner. The
question then arose, what was most ex-
! pedlent! A State Bank was proposed.
This, like all other subjects Of impor-
lance, had its friends and its enemies.
While the bill for the establishment of
the bank was before the legislature, it
was warmly discussed, for a long period,
both in and out of the house. Men high
in office and influence, as also those of a
lower order, used all their eloquence and
sophis,ry against the bill; yet no better
expediem could be devised, and the bill
passed, and is now law of the state. 1t
was then hoped and expected that the ep-
ponents to the bank would give their
cordial support, like true republicans, to
the acts of our legislature. On the con-
trary, we behold them exciting the peo-
pie to county meetings, in which to re-
monstrate, to discredit the bank, and to
stigmatize the legislature. appeal to
their own understanding, that if their po-
pularlty is sinking by not having had as
correct views of the interest and wishes
Of the people, as their imagnations led
them to believe they had when they SO
strenuously opposed the establishment
OF the bank, whether they better their
condition by attempting to brand its
friends as bankrupts. What was said of
those men who opposed the declaration
of the late war with England, who during,
its continuance were refractory to the
laws of the United States, and interposed
every obstacle in their power to its sue
cessful operations /? They were remind
ed, that whatever their opinions might
have been as to the eXpediency Of declar-
ing war, it was no longer a question of
policy. The nation was engaged in war
with one of the most powerful on earth.
Therefore, twas the imperious duty of
every true patriot to support his govern
ment. Had the friends of the war yielded
to the Vaccinations Of the enemies Of it,
confusion, anarchy, and subjugation
would have inevitably been the conse-.
quence.
The bank is chartered, and it is the
duty of every good citizen to support it,
for the character and interest Of the state
are inseparably connected Herewith.
Arehot these county meetings an af-
ter-piece in miniature of the Hartford
Convention Where are the mighty m en-
there assembled! Do not the nation view
them with contempt q
Our Legislators, viewing the situation
oftheir, constituents, as well as the whole
country, wisely decided that something
for their relief must be done, and for that
purpose chartered State Bank, on such
principles that it cannot be broken. To
have made specie paying bank was
worse than useless. No benefit could
result from it, as there is no specie in
the country, on which the state could
| bank.
Had they have followed the example
of Missouri, and declared that the state
was solvent, and therefore they would
nor give the relief, certain ruin mus
have followed, and the property Of oui
most active and enterprizing citizens
itwouh be swept from them At one tenth