Alabama state intelligencer., 1831-04-27

small subservieni aninlal to spring his prey Jus so with this Imperial Bank, when installed anew il its formidable and lasting power The State Banks
 spared by the sword, will be passed under the yoke | They will becoEe subordinate parts in the great ma
 chine Their place, in the scale of subordination l will be one degree below the rank of legtmat,
 branches their business, to perform the work whicl ii would be too disreputable for the legitimate
 branches to perform. This will be the fate of tht 1 State Banks, which are allowed to keep up thei
 signs, and set open their doors and thus the entir,
 m0nied power of the Union would fall into the hand
 of one single Institution, whose memorable and invi
 sible mandates, enanating from centre, would per
 wade the Union, giving, or withholding money ac cording to its own sovereign will and absolute plea
 sure To favored State to an individual, or
 class of individuals, favored by the Central power
 the golden stream of PactOfaS would flow direct. To l all such the munlficent mandates of the High Di
 rectory would come, us the iabled God made his terrestrial visit of love and desire envel0ped in | shower of gold. But to others.-to those not favor ed and to those hated,-the mandates of this same
 Directory would be as the planetary plague which hangs it's poison in the sick ar:' death to item death to all who minister to their wants What Il state of things! What a condition for confederacy of States What grounds for alarm and terrible ap- prehension, when, in confederacy of such vast ex- tent so many independent States, so many rival commercial ces so much sectional jealousy, such
 
 er-theIe should be but one monied tribunal, before which all the rival and contending elements must appear!-but one single dispenser of money. to which every citizen, every trader, merchant, every manufacturer, every planter, every corpora ton, every city. every State and the Federal Go- vemmen itself, must apply, in every emergency. for the most indispensable loan and this. in the face of the fact that in every contest for human rights the great monied institutions olthe world have unilorn- ly been found on lhe side of Kings and nobles, d. gainst the lives and liberties itle people.
 3. To hold real estate, receive rents, and retain body oltenantry This privilege is hostile to the na ture of our republican government and inconsistent with the nature and design of banking institution Republics want frceholders, not landlords and ten antsand, except the corporators ill this Bank; and in the British East India Company, there is not an incorporated body of landlords in any country upon the face of inc earth, whose laws emanae from a le gisIatve body. Banks instituted to promote trade and industry, and to aid the Government and its citizens with loans of money. The whole argument in favor of banking every argument in favor of this bank,-rests upon that idea. No one when this charter was granted, presumed to speak in favor of incorporating society of landlords, espe ciay foreign landlords, to buy lands, build houses, rent tenements, and retain tenantry. Loans of mo- ncy the object in view and the purchase of real estate Is incompatible with that object. Instead of bankers, the corporators may turn land spectators instead of having money to lend they may turn you out tenants to vote. To an application for loan, they may answer, and answer truly that they have TO money on hand and the reason may be, tliat they have laid it out in land This seems to be the case at present. A Committee of the Le- gisutute Of Pennsy has just applied for loan; the President of the Bank notling 10th to make loan to that great State for twenty years longer than tie charter has to exist expresses his regret that he cannot lend ont limited and inadequate sum. The funds of the institution, he says, will not permit it to advance more than eight millions of dollars. And why? because it has invested three millions in real estate To this power hold real estate is superad ded the means to acquire it. The Bank is now the greatest moned power in the Union in the event of the renewal of its charter, it will be the sole one. Sole dispenser of money, it will soon he the chief owner ofproperty. To unlimited means of ac- quison, would be united perpetuity of tenure; for Il corporation never dies and is free from the opc ra ton of the laws which govern the descent and dstr bntion of real estate in the hands ofindvlduals The Limitations in the charter vain and lusory. They insult the understanding and mock the credulity of foolish believers. The Bank is first limited to such acquisitions off real estate as necessary to its own accommodation then comes provlso to undo the so far it concerns purchases upon its own mortgages and execuions This is the limita- ton upon the capacity of such an institution to ac- quire real estate. As if it had any thing to do but to make loans upon mortgages, and push executions upon judgements Having all the money, il would be the sole lender; mortgages being the road to loans, all borrowers must travel that road. When birds enough are in the net, the fowler draws his string, and the heads wrung of. So when mor.- gages enough are taken the loans are called ln dis counts cease curailments are made; failures to pay ensue; writs issue; judgements and executions follow all the rnortgaeed premises are for sale at once; and the Attorney of the Bank appears at the the elbow of the marshall sole bidder. and sole pur- chaser. (To Je continued)