Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1834-10-11

THE BANK

To uess prospect Of organization Of
- 0aok, sod the general interest il cx-
x1ooa. soodos il imposlsni that corTcet q
ufG6inD S6ouD6 Be formed in relation to
- osusss Il will punue, and the effects
u win pso1oce. We have seen nothing
e Saeking in Indiana for about fifteen
yunes. Few Of our business men have
Aodaoy isaescovfse with banks, and it Is
~ uo11kejy that many will acquire their
1Wtns~Iedge Of them, in the direction
-as1 0snagsmeot Of ba mixing concerns.
1DehD sease Of things il will not be surpri-
,osoG, tAal numbers should en.ersain ex-
,poctaoieas which can never be rallied,
aa1 dat many errors should ocksr IN the
'0asagenest Of the institution. In the
'hsPe q calling public attent'os to this
sUejsct sad Of inducing these who are
Ioeosssasd 10 investigate il, beg leave to
Oebs . lev suggestions.
LEI. Tie Bank will not be able to ac-
eo00odate but small portion of those
Who Wisb 70 borrow. We now continual.
u hsas e applications for loans at high
suooo q interest, and many who thus ap
~ cannot succeed. Business mon wish
% bonow 60 extend their business far.
0sss to enlarge their improvements OF
- 70 their real property, and not a
16w would borrow money to pay debts
a large proportion Of our citizens are
.young and eDterpTising, and capable al
least ~ their own opinions, Of managing
0seb 1ose capital than they are posses.
- n. A careful inquiry will, I fear
GNd nearly half our citizens DESTROYS oil
borrowing money from the Bank. The
Ssnse a then, Of course will be disappoint
-, and il will be well for them if they dc
~ % manage their affairs as to SUITE,
sesioasly by the disappointment.
Aso.6ss suggestion will make is, tina,
we'll aansged banks seldom or never lend
1psoey - pay old debts. lie who canno,
pay Ne old debt wall be unlikely to pa,
- NV one punctualIy, and il the Bank
eeellnse it, favoss to the same set cf men
= eso6 times, il will in general be enable
- o any thing with Their, when bad
6aos come.
Daaks will not often find il to their in
Soge0e 10 lend TO merchants, for their pa
poe 10 such cases will be returned for re-
do0ptio0, almost as soon as 1t Is issued.
The greatest number will be accom-
0s6sssd, and it is believed the country
beoe6tted the most, by Ioaning 20 per-
soos, who can calculate with certainty on
Puoeeasl payments. To farmers TO ena-
- them 10 bs'y stock and hogs to be fat
-sooed for the market from the produce Of
ebesr farms. To exporters o: produce,
and 10 horse, cattle, and hog drovcrs; to
0asu(acaurers for the purchase Of the raw
article; To contractors and improycrs for
- ~ " &hcif w0skmeG. All assese
elasBss will Keep up the circulation Of the
haDk paper among the people, will be a
- 10 make regular payments, and they
will only mood loans for short periods
Leans Of this description are calculated
- benefit the whole community equally
viii tho borrowers. Business will be in.
esoased, regularity, punctuality and W.
1ssery encouraged and promoted, and the
ia0usnce will be directly or indirectly
fb1e by all classes Oi society.
u no other person moro capable Of DIS
eusssng this subject shalt attempt il, l
my make further observations in fu-
t,sro numbcr. .ClVlS.