Alabama state intelligencer., 1831-02-09
JUDGE CANYONS REVIEW

y rrfrrei much of fhs Msfqec af tfr Prcscn, te'ac' the Rank tle ted S'ates ,ptich roo in thr Hons oRc,re5-atref af ths Untea a'es, rena dnd idid on tie taiie, April i3, 1850.
 VIII.
 We have ID hesitation in haz1rd'ng the declaration, that if all the profits of the Bank could be fairly known, in all its various bran ches of bust1ess, taking intr view all it's op- pressops, it's tyranny over State institutions, and consequently, the interests of the people of the States, as prlctised by their yam- pyres, the Branches and the Brokers, t would as far exceed in pont of expense an! inconvenience, the good old way of transact ing this kind of business by drafts and Ills cf exchange, as drafts and bills of excAan5e are n1w said to exceed the Bank bill method of exchange.
 But an1ther reflection is suggested at this place, ifthc b,lis If one br,nci are not re- deemablc at any of the cthers, what is the difference between them anl the Stlte B Blnks, If they d1 not even know eacl other, but bv he usual temper of speculat"n, why are they to be preferred to the local institutional Is there charm in having one bunk llleI the neither, and all the others yclept the bran i1ncs' Whqt is to hnder the State hunks from 1 ing this sbusincss, ifthey hwe the same ad | vantages of the public deposits9 It is to be
 
 for banking, the only secrets of bunk, (un- less a large share of dishonesty should be 0ne,) d' mt exclusively belong tI the United States Bunk. There have been some State Bnks that have managed as well, anl sup ported as good credit as the Federl B Junk, at least, as well as the branches at Blltim1re Is there mt as much wisd pm in State L"g's- latures tn regulate these instituticns IS in . ln- gres,? C'ngrcss is composed cf men from the States, andit is fcn;llv to be hoped they d. mt quite take away all the sense belonging to those unfortunate d'hendencirS. An but says the Report, the State Legislatures llck inte- gr,tv, they are fond of an unsrund currency to "lttiact imp7rtations to the points cf great est depreciation, they are afraid of their pr pular;ty, they are afraid of distressing their constituents by ma:;ng the blnls hon est. Now, what fifth can be placed in req sNnng Ike th;s9 Whit kin or a cause must that be which requires such an inst,tutcn,- Upon w'lat times mAve we fallen, when the very creature complains of the corruption of it's maker, and claims all the pnblic virtue ot the cauntrv? The Report del ghts to draw upon cXper ence for arguments, whan d;d ever the States act thus bAscly, It is true, they have acted ign Nrantlv; fir the want of cxpe- ritnce in a new business, many evils hive re- suited; but is th,s any rsas n why they sh uld nrt Pr fit by their misf rtunes, and improve the Svstem9 If any measure of C ;lgress In, acquired any degree cf successful cpperaticr on this subject, surely the States need neve, despair. To wind mp th.s plrr of the argu- nent, We feel d'spHsed t0 aff, rd cur readers a :. small matter of amusement, and it is well, e. casirnally, to stir such a feeling in tie debate f "a question offering sn many pro: c.tcns cur highest sense of inlignaticn. Speak iny cf State !nks. anl their great ;n:Nmpetcnc, to manage the currency even If their owr States, the Report modestiy st ties, th Il "w'icn BANKS have the power rf arb trar.l, contracting and tnhanding, their issues, with ut any general C ntrr l, they exercise il more Jan yd-ous and deshotic pewter ever the hro IH9fy the community than was ever eXrr- c.sed by the most absolute government. IT such state of things, every mn in the cIm nunty holds his froherty at the mercy O l m;n neu making explorations, which have | lec ded interest to abuse their p,wer." Mer C 'ful heavens! that the Banks ofthe U. State. sh,uld hold such langu lge to the Ranks c he States! It is like the langu lge cf the w >lf who, when rising from the rep st of the lamb md observing an inn nHcent d we expiring ir lgonies, within the tllcns of d ,ulture, thank ed his God that he d!d not live by rapnc ant murder! We have saidsome whcr. in thi. long discussicn, that it is q brd rule whcl will mt work bath WAYS. We think we now | If ird the remarkable, and we trust no les. lhlppy case fer its application, and this ,se i. found in an elab7rate argument in favor Of the | e.r)hediencu If a BANK
 For the ob .ious reason tllt the State C vernments Il exac y pufsue their own truc interests, as well as the General Cavern | nrppt that ttpv have ttIIich auI ii,-lasJ mere use f,r banks than the latter, that they have tco, just as much hcpesty and intelli- l gence, that their mcnied men have as mucl, skill and experience as the Stockholders the Federal Bank will State Banks be fnaHu managed and uselully c nductcd as any ma tional institution whatever; and t sna good ar gnment to draw unfavorable C nclllsions iron, | different eXpercnc: cf the past. Evils ci that kind will correct themselves and the U. States Bank furnishes memorable instance | f this truth; fer no establishment recletl mere in its commencement, and ncne, for q season, so dreadfully threatened speedy exit. Let the General Government positively re- qlre all it's revenues to be paid in specie. ol the b Ills of specie paying banks, ana let firm and well regulated State Banks be made the places cf public deposits, and why may mt the same consequences be expected from them, as from the branches, conducted pre- c.sely up n the same plan' If, as the Com. 'nittee have declared the Bank If the Un ted States, by "., salutary agency" has enforced specie payments cn the part of numerous la- cal banks, and thereby secured d sound cur rency, why may net "salutary cnactments cn the part of Congress d, what the Bank has dcne? Dces cny enc believe that State Banks cauld not make arrangements to pay off each other's bills, and to hcnnr rec cprccal drsfs9 Will not the deposits of the public money, in various quarters ofthe Union. en,b!e them