Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1831-11-07
$4l,G6l,8Q 35
24I,03i,067 %
&56, 1926 AZ

one months, (wIth the danger before their eyesl
the Directors increased the debt to the Bank, sin
teen millions, and III that period two Branches
were established, one at Utica, in New YORK, und
another at Burlington in Vermont. In State
ot Vermont, the 3Jth Of Scpteinbar last
there were only ttc0 Stockholders, OWNING ttceu!y-
$ene0 shares And furthermore, We are informed
by the Report OF the 3Jtn of September last IN
applications are under consideration for the cstab
.lisnment OF Br.1Iches Offices, from more thai
thTty places the UuIted states. IL Is iI!yh time
10 pause; IL is time Tor the Stockholders 10 LOOK
INTO tnc.r affairs, notwithstanding the Report oi
their COMMITTEE, 50 hsgFiiy supplementary TO the
Directors.
There arermany who perhaps will recoicc. the
conduct Of the old Bank Of the q. States, lls it is
caled) when Tire Charter by its Intuition was about
TO expire. III did not incrcnsc Its deYts, and aug
mcnt the number of its Branches, but commenced
u wholesome curtaIlnent OF its dcLl- which pro
duced little distress To the deb ors, loss to tac
RdEk.-With such example before them, rein
forced by peculiar circumstances, apply ing 10 the
present Bank, the conduct OF the Directors Of il
r>sears nexp!icable. unless motives arc ,ssiuneg
which would be done with much reluctance Bul
motives will DE assigned and when honorable mo-
tlYcS do not appear, others vii! DC ascrjed, pgr-
cularly by the opponents ofitc Bank; and not I'M
frequently does At appear, that their opinions Of
enemies come nearer to the truth til IN our
fl uds
Ii does not cgPea- % US that any iInputation o
iiIcrItity attach to the opponents of the Bank
WI IN jealousy and susPicion-Thc increase of debt
the establishment Of new Offices with the ap!ica-
tions COR thirty more uRGer ccaafIcraton, have TO
use the words of Il great man, IN dgtuL SyuiaIiHr
towards the requirement Of power and influence
that Intended to control the GovernMent.-Bat
let those who make the attempt beware of the con-
Tor their attempts will prove abortIyg
and Tunous to the institution, whose interests they
are 1--WE must IN charity SUPPOSE endeavorimE 10
promote
What, it may be remarked, has called for an
increase OF the debt from December, 1929, 10 Sep
teinbcr, 1881, Of 40 per cent? At this rate of in
crease before the Charter expires the debts due to
the Bank will exceed hundred and ten mi! ions
of dOllars-it ought to be rccolected that upon cy
cry prospect of Hon-rcnewoI OF the Charter OF The
Bank, its advocates with rsdson) have urged US
the mischief that would flow from
pressing the debtors Of the Bank for payment; the
effects upon the commercial word, with other eff
tects that the non-reucwal would produce With
oct stopping TO examine into the soldiiy Of these,
may it not he asked if these were good
arguments in December, 1929, when the delts
were forty millions, what could induce an increase
IN twenty oHC months to almost taty-scvcn mil
lionsl And does it not appear something like in
fLtudlIon to hold out the prospect oil Il further i'll
crease by the establishment Of more Branches Tnu
very cuGs-lcrdtIon OF an increase OF branches,
warrants the suspicion that iaiet angus IN Ecybu
DO the Directors OF this Bank calculate upon eu-
ding the vigilance of ali emil tened people faithful
ly represented, or OF shaking the trniess Of man
not remarkable tor surreuucring his Judgment, or
likely be surprised Ills post by sinister meant
The debt OF the Government OF the United States
is ncar.y eStnguishcd and perhaps there are some
80 visionary 10 calculate upon making the Bank
a great LeviathaH commanding the mOuicd inter
est Of this uGtlon, and giving tone is policy?
These suspicious may appear liberal, they ma he
unJUst; but the irisnJS OF the Bank, in their caln
moments must admit, that they are warranted bv
circumstances growing out of its administrations
Against these reinuris may, and 10 doubt WI
be produced the Report Of the Committee ui StOcE-
hodsTs, upon the Report Of the Directors 10 tlI.
the Committee, the less That is said the better.
From the time OF meeting t. tho ad ,ornmcut
only six hours we're Employed it reminds us of t 6
speech OF the British King TO Parliament, and the
addresses Of tho Two Houses In answer: as all are
written by hc Minister, very little any delbcra-
ton is required and rruCh time thereby saved; ID
IT the matter stopped thGro, the nation would be
very little wiser; but the opposition and tho press
sometimes rouse tho nation from the effects OF the
Ministerial opiats.
The most extraordinary circumstances in this
Report, is the manner in which operation Of the
Bank Of uitqL iwDortgnce rs passed over. Eiirsior
Is here made to the notes issued Of the Gcnoaina-
tous Of five and ten Dollars, made payable to
Ordcr: of this measure, rotce will be- here1llcr Ia
ken; at present, it may be proper to remark that in
December, 1893, the whole amount If issues in
paper by tho Bank was S527,95l ,G92 Sc; in De
ceuber, 1880, they had increased TO 5a3I,972,2 zT
90; and on the lst cf September. 1881 they
amounted to 1851 ,G23 96, tho Increase liuie
short Of eight millions! These notes are drawn ly
Tire Presidents of the Branches on the Toiiers-
Io counterfeit them is not forgery, because they
are illegally issued Hhr aI"ouat of these notes
issued contrary 10 law, is included ia the ght mil
lions above nuGet, IL not known; out about Tie
the time they came into existence the issues began
rapidly to increase.
GRAVIORA MAEENT.
P. S. Since the above rop.arks we're committed
10 paper, their author has seen s1.ue o55crxl,)ops