Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1835-01-26

''S gwen 10 i'S notes universal circulation re
"'em'ols ~herrsncvcr presented has increase,
' '''nla'i"n tom iour TO twenty millions hns IA
'h''a'ch domestic exchanges hy diminishing II,
'a'es nn', bv Increasing the annual amount pnr
a''se' 'n'm seven TO seventy millions, has pu ,6e,
INC sc"ernl currency, and has Joublcd the pnft, Of
thc Bank ITSELF
Neu. RTE establishment of Branches
The Bank has been reproached witt,
multiplying it Branches, in order to ex
tend ITS influence. How groundlcss the
charge Is, will be seen from the facts tia,
"rtn the last stS'cen years eight original
nfnnchcs have been established VIZ at Nashville
Watch Z, 81. LOUIS. Mobile, Portland, Burlington
Uura, md BnT 10"
And of nll these
Only those Mt Utica and Burlington were
established by the bunk in the absence of cnher
m fxfrrs@ call from the Legislatures of the
'esi'ee I'VE o'H'rs wherein they were established O,
~ 'hh "fs en'y OF the Treasury Department
~ Inc bank 'NI sought, by multiplying its of
hrcs TO exert controlling influence over pnbl,c
sentiment 1t would have oecn furnished a fair spol.
osy, IN the Numerous applications addressed 20 i,
from every quarter, To have multiplied them nlmos,
"a inhahHm. Those applications have been sos.
tunnel, IN 'n'ny instances, by men of the most exa
ted ,c1nta,ion "
They give the letters of Gen. Jackson
and Mr. Van Buren,, and Mr.. Jefferson
and Mr.. Madison, and +. =. Parbour.
concluding as follows that the Bank had
rejected
os'V''hrcc Implications pressed upon il by the
'n'm"fal' aud pcu'ons Of ost respectable cflizcns
of tue several place, ron whence the applications
| Itu,.esard "
Next are, 7hc damages on the French
Bill of Exchange.
The Committee shcw clearly that ,l,cse
damages are due t. the Bank, and that the
clamor OF the Executive on that score is en-
tIrely unjust and factious.
! :. HE ',h', therefore, which accrued TO the
s'"kh"''ers appears 10 the committee 10 be found.
Ell IN street law, md # the dirccots had waived II,
they woult have cxcricd an authority for winch
they coud no, have found a sui able auolosy 10 tbe
! stockholders. What the stockholders night them
selves Il on the score Of lbrrnity to the Govern
mcnt Is nno her question: IT, the decision of which
by the Stockholders they would undoubtedly bnye
inken INTO consideration the course of the Govern
ment to The institution
AS to the subsequent retention Of the dividends
ny We Bank The doctrine of retainer, well under
sioou ny the courts, applies as we'll 10 c)rporation
ns 10 IN individual, and when that retainer
~ avo scdly r,nle in order to procure a submls-
sion I, the courts and iures of the country. and
would have been waved, Ms is plainly minated
| IN Mr.. Bud Hes letter 10 Mr.. Woodbury.. If the
snbm' sNlon could N any other way be secured you,
c"nmnico are u"abln To see why there should be
either clam r or OH crion raised to the course pur
suedhy the ,lircrtors =
Then comes VIZ. Ehmakcr's case.
Mr.. EllnaScr,it seems, was appointed n
4 II A
requires that II Director must previously
he "A Stochholdrr-which Mr. Ellmakcr
was no, the Board of Directors did not
permit him to take n seat. The Com
mitiec merely report the facts, but the de-
clsIon IS too obviously right to require OBJ
servatIon.
The next general head is
hte'~cdWtag o'th p tu,c5
The comn'ucc pressed ,hr,r inquiries IN
every direction IN order 10 discover all AID every
interference on the pn't Of the bunk. If of any II
had been gnIty, w,h The political parl,c, of the
| country
" The way in which srch power and influence
~on1 be mo" Ik'ly to display itself on the par, oil
| the bank, wound be -
Is. In The appointment Of directors for the seve.
raj branches. with reference chiefly to their pot-
.a sentiments,
81 In an luxurious discrimination between
persons etahiIus accommodations 10 some md
refusing them TO others, bee usc of tho OK sience
Of p ticn'nr polrich preferences opinions
81 IN the granting Of large md unusual loans
o. INSULT lent do lbtiu security 10 persons sup
posed - have political 'on,cncc and extending in
'Inl ,cnclrs 10 such, not extended to otheis
ih In cfJrS Of direct bribery by tho donntiors
Of us moncy.
9th In rendering the press its sfipcndiary by be.
siowins gratnltIcs editors or making to them cx-
trhvagani loans.
6 h. In large and unusual loans and accommo in.
ions 10 members Of Congress g. other public func-
t'onares on insufficient security.
7lh. In paying for publications not necessary FOR
true exposition OF ITS CONDITION., or tn defend itself
again unjust ami Injurious charges"
And certainly nothing can be more con-
elusive than the result Of their inyestiga-
ton on these several matters.
Isl. The Appointment of Directors.
90 thI, point the committee has no reason to
bclieSo that any ohor motives have operated with
the bank than those having reference mainly 10
the interests Of the institution Tine object seems
10 have been 10 place at the board Of directors men
of ch ,rdc,er ana standing, acquainted with the cir
cnmstantes oftle citizens Composing the comm n i
~ N tho midst Of which tho Office was situated
| md of business habits.
3. An njnrlous discrimination between nppli
cants, IN granting loans, because Of political DIFF
| fcrenccs.
i The committee has carefully examined the dis
coun' cooks Of the bank and the several oranchc,
winch II VISIT d for the purpose Of asccrtanng tn,