Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1831-12-15

preserves spnnd currency for the country at large
promotes l,f rel Interests oft!e local Banks b.
giving s1nua.l.. a. then pnrcr
iflhe nccc ify ola ranking institution be oot0
cede1 or sheWn. Gat vhirh shall ju1iciously com
hnc the power Of hc Government with priqaie en-
torprizc - believed to be most cifcncions. J ht
| Gogelpmcni would thus obtain thebcncht OF md
yldud aagacy III the genera management ii ne
Bunk. audi by means ofit4d cpostaa and 5aare IA
tie direction, possess the necessary power Tor fhe
prevention efnhuec.
Il Is not lnteldc,l to assert that the BaLk OF tie
United States as atprcsenl organized Is perfect,
on thai the essential o,ieets Of such an institution
mich, not be attained by menus ofan entirely new
one organized upon proper principles, aud with
ealunry limitations. II mns, bc admitted howey-
cr that the good arrangement of the present
Bank the accommodation II has given the Govern
rnent and tie practical brnefts IT hns rendered the
community --whethcr IT may or may not have hc'
conpllshcd all that was expected from it-end the
advantages Otis present condition. nrc crclnostan
cos ia is favor entitled 10 great weight, and gave
IT strong claims upon the consideration ofCon-
gress IN any fnnno LEGISLATION upon the subject.
Tnlh,sc muy hr ndd,d the knowledge the pre-
Gent Bank has acquired Of The business aud wants
Of thc ynrIus portions ofths extensive country,
which. bong the result oftrmc aud experience -
new institution.
1t IL tobc observed moreover TINT tho facca
ofcnpilnl actually afforded by tic prr'cnt lnstitu-
ton 10 tie agricultural, commercial, and manuiac'
turne industry al all ports of the Union could nni
be Withdrawn, even hy transferring them 10 ano-
thcr institutions, without a severe shock To each on
lhose interests and to the relations OF society gcn-
orally.
Totimilnr considerations, itrnap b. presumed, Is
to lac nacod the uniform policy Of the aevcral SlhcS
ofthe Union ofrrchuttenne thcu local institution,
with such notifications as experience mny have
dictated IN preference 10 creating new ones.
Should any objection he felt entertained on
the score Of monopoly 1t Ialed he obylated by pln-
cmg, through the lnto'R oi n aulh'ent premium,
the present institution upon the footing Of new
one, and guarding It's future operations by seh lu-
,icioua checks and limitations as experience may
have shown tpbr necessary
Thee considerations md others which will BE-
adscred 10 IN "A subsequent part Of tls rcport-thc
experience Of The Department IN thu trying pori-
ods ii It's history, md the convictions Of his own
judgment, conenlmg with those of the eminent
men who have preceded tn undersigned IN It's nd
mnsltaliou.=i ndnrr hln 10 recommend the oApe.
dcary oi re- chnrlerup Lie prrsrnt Bank nj the
proper ifnr pad with such mndiGcmions, as, with,
out inlpa ~ il usefulness Ia the Government and
the community, may bo calculated toftconmend 1t
to the appreciation of the Executive and-whnt IL
vitality mi,orfnnt-io The confidence of the people
Should Congress deem II oxpedi6nt 10 authorize
the sale ufthc Bank shares for sim not less than
cieht millions Of dollars the reimbursement Of tin
pubic debt GA IN before hcid Of Mnroh, 1881 mny be
confidently anticipated and from that period tbs
amount OF revenue applicable to that object will lir
nolonger required
(Jobf C0ufIHdrd in 0uy gryt1