Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1835-01-27
NATIONAL BANK OF IRELAND.

An extremely numerous and respectable
meeting of persons interested in the proposed
Bank was held on Thursday, at the Corn Elk
change, to adopt such measures as might be
deemed advisable to forward the plan in con-
junction with local bank in Dublin.
Christopher FiZsimon, Esq, was in the chair.
Mr.. John Reynolds, secretary to the Bank,
read the prospectus and advertisement conven-
ing the meeting.
Mr. Fitzsimon expressed the qualification
which he felt at being called on TO preside over
so large and respectable an assemblage, which
was called together for the consideration of
banking details, and not for any political pur-
pose.
MIR. O'Connell here presented himself, and
was received by loud cheers. After some pre-
liminary remarks he said: What want is this,
to have bank established in Ireland-to have
separate and distinct banks in the different
towns inIreand, in which the only inquiry should
be- whether an account should be opened with
a man on account of his sovency; and whether
when bill is sought to be cashed, the parties to
il are solvent; and not what are their politics
or their religions but solely, is the bill good or
a bad one, and is il proper subject for com
mercial transaction [hear, hear!]? 1t is with
such an object that avow mysellthe support
er of the National Bank of Ireland. From such
an establishment, would exclude political pre-
ferences [hear, heart. Itmay however, be said,
that we have more than sufficient number Of
establishments of this kind in the kingdom.
confess that, feeling 1t to be my duty to investi-
gate principles of the monetary system, in the
various countries of Europe, and how they
should be based, | am convinced, that in the in
of exchange, gold is too dear an in
strument for great and commercial country
like England; and far, far too dear for poorer
and debtor country, as Ireland undoubtedly
is Seeing the mischiefs which have occurred
the mischief Of an over-issue of paper, and al
so the mischief of too limited quantity Of the
circulating medium am for safe and salu-
tary currency, which will yet be established,
and, as human institutions are ameliorated, it
will be discovered that no state does its duty for
the protection of the people which does not pro.
vide them secure instrument Of exchange for
the precious metals In such salutary state
of society the government power would have
sufficient profit in the differences between the
cheap instrument and exchanging that for the
cheap instrument. lam stating, at the outest,
what are, perhaps, abstract, but are not the less
probable, principles; am stating what are the
opinions of the best political economists who have
the subject of the cHrency:we find that
the invariable conclusions they came TO are that a
country should havea safe, and, at the same time,
an abundant circulating medium hear, hear!
That such an object cannot now be achieved
without joint stock companies, is believe, per-
fectly true Look at the effets which have been
S'ONFN
in Scotland. See how much the
country has improved in the course of few
years; and it is a country inferior to ours in ex-
tent, and beyond comparison, to ours in fertility.
See how il has increased in prosperity; from
being the most lawless, wild, and savage, it has
become most tranquil country; and as it was
before remarkable for its poverty. it is now dis
inguished for its wealth and trade find these
facts respecting Scotland concomitant with the
read of joint stock banks throughout the coun-
Try. find prosperity and tranquility both coe-
,al in Scotland with the establishment of its
banks. In Scotland they were not begun until
about sixty or seventy years after the MON, so
hat there was no rea son for supposing the |
Union there had any thing to do with the advan- |
age of the country. At the time the Scotch |
took banks commenced in the country, we see
he pros perity of the people keep peace with it
Ind they proceed pari passu the one with the
'ther (hear, hearD. am thoroughly convinced
hat this is strong practical illustration for u.s.
md this being my opinion would desire to ex-
end to Ireland that which has been found of SER
ice TO the Scotch.
SENATOR FROM DR.. ArKINsoN's DIsTRIcT.-We
Understand that VIM. r. BASKERVILLE, ESQ,