The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1824-02-19

elent 10 saswer The needs Of nearly .he who's
state, IN p'osperoos times. Al present,
hhods Island can bnssi, Of such monied IN
corporsted hrms, sbout half hundred! even
Block Island has psIiiiooed for q savings
cank, We presume ss depository at ils eco
oomiesi acquisitions. Ous sister states have
multiplied them greatly, bu, no, in the same
proportion. They have sifesdy more Than
begun 90 feel the effects Of Their folly -Ye,
among us, (Nrsngs forsoo,h to ,sii) the Sc
g'"teiiog toN.wo'ks, preserved by soms
magic charm, are no, melted away; ehartss
on charter, 81 sve'y sess'on Of the Assembly,
10 granted, ss s,i spPiicsDss, h is asserted,
should be treated precisely on a f.o,ine OF
sqaainy. The question is no, the pubic
Welfare, whether general psdieney rtqo, CO
consent TO the i.vor sued fn; bat me ex
tfsvsesnt pretended right, 10 iauiy acknow.
ssdged OF the ndividusI. pseferting ,heir oe.
usion. The esuse OF backs, becomes dis.
t'nct cause from that Of the community. Aud
now csn u be Otherwise, when I'd members are
delegated to our Legislatures, Tor tbs sole
sou or h &C least exiremsly dIffisult, 10
fnd competent candidates, entirely dis,n,er.
ssted. Chsr,e's mus, not only not os refus.
ed, they puM be cedsd like wise. with equal
privileges A corporation, like a Tfivs,e
person. Is but ono body, and intiiuIed TO no
exemption more than the other, ha. been
made for limited term, for eight, for ten,
or Tor fifteen yesrs. The bsnk, Il speak not
OF those Of b istoi, Of Warren, Of Weaetiy,
or OF soy particular town, but OF ali banks in.
eisc''m,nateiy, and however situated, y sfer
having issued out bills, 10 three times The q.
mount OF specie in It's vsrl,s, snd received
valuable conside fs,ion for each bill, thinks
proper, before the expiration OF its charter,
10 dissolve. Who is then snswershie, when
shs President, Directors end Cashier decline
Naking psymen.--or when these ofscsrs, in
hct, 90 longsr exis, The eompnnen, mem.
bofs certainly are not, in q Iegai sense, for
they neve' wers bound. I, is clear therefore,
tho people, who are able, and it see ms, will
Ing to bear every ,hing, most come of he
cveotusi losers. A bank uo'e Of the highest
value fades and grows instantly deed iesf, in
the hands OF he holder. A wonderlu meta
norphose takes plsee. He, who momen,
since, was proud OF his thousands, sees, like /
Isntsius, the golden treasure glide from him
90 dream. Where then shah we find sc.
cu'i,y, the uust will not DO abused, unless
mon shall, IN their private propertie., be
Ns,ly smensbls +? I an 90 advocate 70, cotton
factories; yet 'hey add more 10 ,he stock OF
trade, than Banking establishments can do
They let nor, but hi!e money; and work up
their materials into commodities, which are . |
subject Of barrier al lesst, and employ the Gle. /
Suis'ing MEDIUM. Ys; to cotton factories, il |
l am tightly informed, . complete ipcorpors.
ton was seldom allowed, and any prsysr, for |
sxempling The estates of individuals from the !
habiiny Of debt, proved inc ffec,usL How
much stronger, is the reason for res,rsining,
in the present instance! l bsvo purposeiy !
To- borne, Nj. Simons, aov remarks on the
extfscrdinsty powsrof SUMMARY process, as |
that has been 90 sbly and unsnswcfably die. |
cusscd in the report OF the Committee, OF |
which Mr.. Dariee was chsirmsn-.-s power |
dangerous and alarming which is Fastening |
by rapid strides, to engro.s' al! property ..
mone US; as fatal ss that Of tho church, |
which Formerly swallowed up one third of |
the landed interests of Engls in Mortmsin.
But in whst msoner have We pro6ted, BY tho
lights OF intelligence, thus plain end convince
ing I Tho power reproduced, is prolonged
from year to yesr, from ,ime TO time, and !
may be, for sught I can perceive to tho COO.
.sssy, be INDUCED ill doomsdsy itself The
public spplsuded the resistance 10 an Unfair /
claim, which has ut,e,ly ruined thousands;
sndi, was Mr.. Durfee's honesty and ability
h this matter, 'is confidently said, thss 10.
sU'ed his election, Oiher immuni,ies the
banks possess, but those mentioned are The
Chief, TO which the attention Of the neat sit
ting Of our Assembly ought to be called.
VIII these evils oever admit OF any remedy
snd is the subjec, so peculiarly delics'e, that
hs who is Inte Sed IN baok stock, or he who
has inequi,sby suffered from the afbitrsry
oppression Of such institutions, shall no: be
permi,,sd to declare freely end eandidly h,s
opinion A CITIZEN.
Wiekford, Pe5. 4fh, 1924.