Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1826-06-30

halfway propositions OF some gentlemen,
who are now for giving up half the
amount due by the debtors of the bank,
and thereby endeavor to establish pre-
cedent, which at future session, would
equally justify the REIMBURSEMENT Of the
whole debt.
Do gentlemen recollect that all the
lands, town lots, and other property of
the state yes, and all its funds and re-
venue, and wha; is worse than all the
rest, It's public faith, are all pledged to
redeem the very notes tina, have been
loaned TO those debtors, in gold and sill
yer coin. 1t is nothing more nor less
than requiring the honest industrious
farming part Of the community of this
state, to pay the balance of those debts.
The whole debt must be paid somehow
or other, and whatever be the part given
10 those debtors, it inours the necessity
OF taxing the people to supply the def
Cit And sir, if you wish to make my
constituents pay other peoples debts,
you shall not have my aid. This pro-
Ject, for the present, has failed, it may,
however be attempted with better sue
cess--and | confess it has rendered me
more anxious for the present measure.
Menacori with this danger, feel dou-
bic motive Tor wishing to curtail the &C.
cumulatlng and overwhelming expenses
of the bank.
| will not say that the present bill is
upon the best plan that could be devised
but | have 10 hesitation in saying, that
il is better than the existing one. What
is ii ltproposes to vest The powers OF
the president aud directors of the bank,
in the governor, auditor of public ac-
counts, treasurer, and seCre;ar. of state,
and to constitute them body polite and
corporate, for the purpose OF winding up
the affairs oil the state bank. Ii pro-
yides that the treasurer shall perform
! the duties OF cashier and receive no pay
and that agents, with precisely the same
| powers as are now exercised by the
branch cashiers, shall be appointed in
the several counties, who shall receive
! five per cent. upon the monies collected
and paid over by them. This is the
whole expense TO be incurred by the
proposed plan. But the gentleman
from Sangamon, who intends to vote
with us while he seems TO argue against
us, and who has not betrayed any OK
lraordinary dissatisfaction at the expen-
! SEES OF tie institution, insists now, that
five per cent. is too high, and has moved
to reduce IL to Two and hall per cent.
/ HIS object seems to be 10 render the
commission SO low, as to render it diff
cult to engage suitable agents TO under
take it; and thus by his kindness, dciea,
the bill. /, however, do not concur
with him, either in his wishes or his
arguments. do no, ,hiuk FIVE per cent,
! too high, and therefore hope that the
friends OF the bill viii not consent 10
have it struck out. | shall be content
Tor the present, with saving what this
allowance would admit Of.
10 show what this would be, | beg
leave To contrast the expenses of the
present and proposed plan. regret
! that time has not enabled me 10 obtain
all The necessary Information for minute
details, but The documents before you
will support the following slatemenls:
/. The salary Of the
cashier, and incidental
expenses OF the principal
bank, for the last twelve
months, is S2,l847l
TINS sum for FIVE years,
when the bank charter is
to expire, would be 1868 IS
2. | he expenses OF
branch at Shawneetown,
for the time it has been
10 operation, 6,484 27.
The same expenses Tor
the remaining five years,
would be 6,4S4 81
8. The expenses for
the branch at Palmyra,
has been for the last five
years, ALAS OF
AT the same for the en-.
suing five years it would
be alas CT
The bank at Browns.
vile, for the last Twelve
months has been 1892 Al.
Al the same rate tor the
ensuing FIVE years, itwould
be 1862 os
The branch at Edwards
Vile, has expended for the
last six months S545 IS.
AT the same rate for
five years 10 come, It
MI L.. ssAo RI