Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1833-03-02

them. Moreover, according to Mr..
Larsh's own definition Of what he CALI
petty Banking companies, there was and
IS Something ai'usory on the face Of the
Bill now in dispute. Ifthis Bill had be-
came Law, would not the general i'm
preston Of the citizens have been that We
had authorised State Bank and Branch
es, when in fact the proposed charter on
ly contemplated uniting the State with a
certain number Of Banking companies for
Banking purposes, when neither the
stockholders nor the State, were bound
to redeem their Bank Notes, with any
more than the investments in Bank
Such has been the game played off upon
the Industrious inhabitants, by all those
inconsiderable institutions that Mr. Larsh
speaksof. These individual Banks which
have been SO ruinous to the Western
States, PLAYED off the trick by getting the
farmers to believe that the stockholders
Of these Banks were vastly rich, and all
their property, like that Of other individu-
.ls, hound for the payment Of their Notes.
But no. Here lies the deception. There
was nothing bound to pay IF their Notes,
more than pretended capital; and when
the yeomanrv Of the country anticipated
they could place their finger on IL, il was
like the Negroes Flee it was not there
Was not the Old State Bank Of Indiana and
her Branches, precisely thus situatedf II
SAY they were; and there are thousands
IF dollars Of the paper struck in these pre-
tended State Banks, now dead in the
hands Of the people, and when they call
upon the State Of Indiana to redeem it, she
states imperiously to them, she has moth
ing to do with 1t, you must look for your
,ay to the amount Of stock subscribed
md if that is gone, all is done for
,ou. The Charter IN dispute is no better
han those referred to, az It passed the
House Of Representatives., and went no
urther, than to incorporate the State
nth a number Of Banking companies, the
took subscribed alone responsible Each
t these Banking companies referred to in
he charter, were allowed a capital Of
OO,O6O dollars. 1 have proved to you
eyond doubt, that the stock-hold-
rs instantly drew their money out of
'ank for five years, leaving on the part
{ the State, (Which composed one half Of $
ne company as to money! in Bank, eigh- I
I thousand dollars; and this last men.
oned sum was left in the power Of the Dr.
sctors, to let on loans Of thirty or ninety
avs, while all the borrowers of thesel
'anks were to be hep. concealed. unIessI
Oh could by some means bring them into
curt, or obtain against them some legal
rocedure.
MIR. Larsh, in s,reetness 10 YOU, declares 4
the public, that Banks generally issue :,
'rec dollars to one in the protested CAPT
'I-but in the late charter they are ONLY :
lowed to issue two ~ one. Admit it. 8
nd what does 1t prove9 Why, it proves 5
lat each Of these nine Banks that | am e
Fought to an account for voting against, c
ouId have the right, if thew had been $
IT into action, to have issued Notes to y
e amour. of three hundred and twenty
ousand dollars, when neither Of them
I'd more than eighty thousand dollars
thin their Bank vaults. The most tri. q
Banking company to which Mr.. Larsh 4
- pointed at. or can point out to YOU, at i
f'rst outset, could have presented some =
al capital. Therefore, must believe :.
at If MIR. Larsh could bring his favorite
c)ect 70 bear. il would terminate in The =
me disastrous consequences Of the Vim +
nnes Bank and Branches. c
Permit me u make short reply to the
rmer, who published note against me :
your paper Of the 23d inst. This Far
r appears to me to have been accus
ned to the manner Of a London or d =
verpool gentleman. Ii am correct. :,
r manner of address will not sui. his \
1venience. We are not in the habit. in !,
Sc American States, of lavishing prais- Is