Litchfield enquirer., 1831-12-29

ing it is to be considered not more, in refer ence to the axpediency of banking generally, than in regard ta the actual state of th'ngs' and to the multiplicity of State Banks alrsady in existence, and which can'neiihsr be oispsa- ced nor in other manner capiFu..susin tneir issues of paper bs the Geusral GoveFnmrns. This ia an eyilsnOt tS be submitted to !; and .the remedy af present applied, while tt pre- srrvrs . sn.snd cnrreneT far the country at large. orcInnies ifs reaI nterests of the local Ba0ks. hv risiIIe sosnl aa1sO their paper.
 If inc ilsceasilN of b6nking institution be conceded IF shown, ihaf which shall judi ciOusly conhine lhe power of the Govern n1ent with private enterprise, is believed to he most eficseions The Government would thus obtain the benefit of individual sasacity in the general management of the Bank ana by means of it's deposites and share ID tnS o'- rection. possess Ghe necessary power TOT 'ne prevention If abuse. .-'
 It is not Intended to assert that me nanN o' H the United States, as at present organ'1eu1 tl N perfect, or, that the essential objects O1z sue" an institution might not be attained ey me'"s of an entirely new one, organized upon Pro- ppr principles and with salutary limitations: 1t must be admitted, however, that the gooo management of. the present Bank; tae ac- cOmmodation it has given the GOSeFnmen'' '' and the practical benefits it has rendered. the cOmmunity-whether 1t may or may hot have accomplished all that was expected rom it and the advantages of its present cono', ton, are circumstances in its favor, entitled to great weight. and give it strong claims up' on the consideration of Congress in any iu' lure legislation upon the subject.
 To these may De added tEe knowledge the present Bank has acquired of the business ai;<l ,vants. of the various p0rtions of this ex- ten .sFs Eo4aI witch. being the result oi tint nnd expefienee, is III aflFA. .age it must necessarily pdssess 0xer aiiN lpstitution' .sasIt is to be 0heefxed; how sk4s lat the la ciIMies 0g txpIls 1Fli2lly all6fslsN by the pre-, sent institntis sficuituE eommercia' U and manuli Ing Jdtlasfky sli parts of the Union, could n6t be withdrae svenpy trans ferring then to another instit,ltlpn without ssrere shock to each of those RAteEesls and to toe relations of society Exasgs
 1O similas consideratlans nay ss ssn- sev1raI Slsfss of slae I1bfu1 q fsebartering fheif local institdiions WilIl Hz 6difications N sxs,srience may lSsixS NI |IE in prefer s.,S Y ia Eteafi.k new oile0
 .SE6l|la sIYg ohieetinne lsltcr entertain- stl on KsSI IsesSEe 0f ma60H y. t might be ob- sssled by piacing. through the means of sufficient premium. the present institution upon the footing of a new one, and guarding it's future operations by such judcious checks and limitations as experienchmay have shown to be necessary.
 These considerations. and others which will be adverted to in sa suhsequent part of this report,-the experiences of the Depart. ment in the trying periods .0fsiis. history. and the conyictions of his oMa jhdgment concurs ring with those of q esninent men who hasS preceded the nntlaisi igned in ils administra- tion,-induce him to recommendthe ,expedi- ency of rechsysefiag the present bank at the proper time; and with such lnUdiscations. as. without impairing its sefnlneseto the Go tS cad tRs fo i6s sPPFabatiohr | H Sl the Executive. and what is vitally Important, to the confidence of the people: T.
 Should Congress deem it expedisnt to au- thorize the sale of the bank sharssfv for a sum not less than eight million of dollars,. the re. inducements ofthe public drbt, ,on 0F before the Sd of March, 1888. may be confidently anticipated add, from that period. the amsunt of revenue applicable te that object, wilhbe no longer required.