Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1833-02-09
such an occupation profitable. Where,

IsuCh an pationprohtable. Where
then, are we to find proper agents TO
the management Of this machine. steer
ing clear Of the two extremes of tot
much humanity and too little sensibili
tt? But IN that class Of society whic!
contributes the least to augmentsDg the
permanent wealth Of the country ane
which has contributed much to our
Out-goings aud Iitdle to our in-comings
such men and such only could the mai,
management of this concern be con
|iAed to,nnd though not disr osed to
impug" their intentions generally, YET
it cannot be denied but that their tenn
permanent and spiTft u hazardous en-
enterprise units them for the even
tenor of an agricultural life and even
for cultivating a knowledge Of its real
interests. Trade is their hobby, md
to that every other consideration must
yield.
The objectionable injustice of Dor
rowing money upon the credit and at
the risk of the producer for the bene-
TT of the carrier, the idle, or the i'm
prudent, is overlooked. When we
turn our ewes to the political effects to
be brought about, and the political
power to be concentrated by the evo-
lutions of this bank, it would by and
by manifest itselfa tax and heavy bur-
then upon industry and a tyrant and
monopoliser in trade. Throughout its
numerous and guarded sections. you
may descry its guarded steps TO the
possession and accumulation Of politi-
cal power IN the hands of stockholders
and directors. Who is to furnish its
funds? The state. Who are to be
its stockholders? Those who subscribe
money and take money out Oft. Who
ever shall be designated by its great
est debtors and the members Of the
legislature, who also may, and in all
probability will be its debtors. Thus
commodiously situated, the next step is
for this fraternity Of bankers to sus-
tain themselves in the positions they
occupy. Let US inquire ifthey cannot
create distinct interest in the state
adverse to the general good. This,
sir, is to be done by the creation Of
bank or state debtors. cemented by
one common interest and moving with
one common impulse. This will COM
mence with the busy and enterprising
traders, who in their turn will have
their host Of debtors smypathising with
the operations at head quarters, aud
it will be perfectly natural that those
who suck at the teats Of this institution,
directly and indirectly should wish its
concerns so managed as to suit their
private convenience. The cord that
is pulled or relaxed at the head is !elt
afar of as well as at the bank door,
The Withdrawal of favors that stop the
business of a bank debtor makes hard
times for the customers and debtors of
such bank debtors. Such a state Of
affairs would necessarily have its i'll
1uence with such debtors and their
friends in elections. Traders gener-
all, are wholesale debtors to banks land
they distribute the capital thus ac-
4ui. ed by retail, and the measure or
favor extended to the large dealer is
FELT through all the arteries of their
trade, and | am sure such a condition
S not the most favorable to indepen-
1ence ofconduct. And indeed, sir.
I'm not sure that if the favors Of this
proposed bank shall be fairly distribu-
ed. (Which | do not anticlpate,) that
4 majority of the people will not be
directly or indirectly affected by its
operations. Reflect a moment upon
he number ofstate debtors and debt
'rs TO be created by the operations Of
his bank. If its impartiall~ admins
cred, the account would stand about
IS follows:
State debtors for canal lands,
nd tor which the lands standin
ature of a mortgage, about 500, 900
College money loaned out up-
n mortgae, about 10000
School section money loaned
ut upon mortgage, about COG, 600
Security for stock upon mort /
ages, 5oO,OOO
Permanen mt loans to be secured
mortgages, 100000
Ifthe one tenth Of the issues
oes into the hands ofthe farmer
nd is secured by reality, it
'ouId amount to 100000
&i.S5O,OOOI
This, sir. is great sum, and who
-1,ll hor~ kho Il Of ~