The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-02-17

iHe1e Is no reason, other than the want Of resour
e.s aud outlets, why another Lowell may no, b
/, eteeicd on the Banks Of the Gaia sba. Here th
advantages presented by nature are superior Il
those existing IN Massachnsetts-and We, there
they have built town aud have set 10 rnapufac
tories whose united capitals already exceed ,er
millions Of dollars. Surely i: cannot be contend
ed that, IN country from whence they have /,
tendto your shores for your cotton and after work
ing II into fabrics, return it TO you for consume
uon, laden with the expenses Of these varion
tTsnspoFIations that IN sue. country, they hay.
advantages over you, who, with one hand car
pluck The cotton from your fields and with Tia,
other, can offer II 10 the customers around YOU
IL is obvious that with the smallest exerton OF
your part, ia the most ordinary state of thing
winch these roads Will produce, there will be ;
demand far exceeding The power even Of thu
Bank 10 supply.
:. Let then consider whether, under III,
charter proposed, sufficient precautions are taken
for the so!'ency Of the Bank and tie payment O
Its notes.
What are its means Of payment First, il.
cap'lal must be paid IN Specie or It's equivalent
into the vaults OF the Bank. Of those States here
subscriptions afe 'akcn--ane this capital furnish
6 It's primary means Of payment Then such
1890 - ttAouff tut ~ ~, VIVA t4e profits
and other assets which il may acquire, viii be-
supefsec'd. These are all tue securities usually
furnished by other Banks. But this Bank offers
byond all tAs, Tie liability OF the Who'll, Rail Road
capital, amounting 10 tael,e a,i,hons OF dollars.
slth al the property Of the company, and The
personal credit Of is individual stockholders. as
lar as they are bound under the charter. When
tie capnal OF tins Bank increases, its notes ar,
siiil lutluer secured b. Raj Road with double
Haeb, the entire extent from Charleston 10 tA.
tennessee keutueky AID ONO line successfully
together With all the real Estate, Deposi.ories,
Engines and materials appert4ining thereto II
'nal safely be affirmed that no BauA IN the United
Staies can o!irI equal security
But Ne soitsncy Is sill further secured by the
precautions taken TO ptesen, over banking. It's
issues are limited ono-tbifd below those allowed
other Banks. Il Is denied the privilege Of lend
'us, either upon as oan or the Rail Road slock
lnul ihfee.iolfiils q the ca yl4 Is actually paid
20, aud then 4 can ony lend 70 IL, eA,eul Vi one
hail itcanuot IRrmh the Raj Road company 10
osctcfaw--and II a, any time /. delays paving IL
own notes ~ spece, It Is liable 10 the eAorbl;an,
interest u Il ref cent u irusu4le any specu.
laIing schemes On tie part Of The officers ot The
Bans. tief ate ~ iden from acting IS Brokers,
aud the bfevlors cau receive 40 CON peusa,Iou
lot Uaasaeths business tor others with Ire BauA.
Bat there Is yet another provision which is par
ucuAriy iWPofttfl, lnasmucn a. II net only op,..
rates restraint b4l eonsu.ts tAe dignity OF
each Of ,l,e States granting the Charter. The
Act requires report. 10 bs made annually 10 ne
s,speciug LecH.atufes, not only OF the couatrion
~ lae Parent Bus, but ot al tbs Branches Ihis
-ises q salst,lsofg psyu,f a. ZACH Legislature.
40 3, re.uiun. Biauc.. o. be m each State, lhe
.as, oE ,aea eau oe ma4e e.,sclua., 10 Operate
upon li,e Naa.e oatio-4tla Wuilol, Branch,
. ueu.4 ~ dH'eIit iar auY OF The States 10 act
sraa tl~ a>.ta,taa, bot sith tia, PROVISION. not
ea,, taoct,, san be scrsd. bot can IN due course
b. eu.a.at4 ~ tl- Sog,t, Another sa.utar Of.
if, results is4n tie establishment OF a Branch
auh.u size state \ place is thcrrbv provided
y itbtu yaar traeH. at Ntlcn tho N0,cs may b. re.
4cemc4 AID IN case they are received II the
inssgrY. specie can he d,tnanlaa IL, them with.
tic tn.,s IL the S4ate-aud he soundn,,, an,
The currency thereby tested
3. Hs4p. tnus exai3!tsd the means taken IN
rasuts 4 sound currency, let US Pas, 10 the last
remaining causidtrarlou--are sufficient precsu.
done taken to cumpv. Tie Bank 10 Lave the Road
constructed
Oa this paiat, there can exist not even doubt
Before The Bank IAN Gc created, eight millions
"n~i arst be subscribed 10 the Road Then, the
Ao&d must al 80 time te sust.,udcd Tor year, or
te halter OF TIE Bank Is l,... Moreover II an
sFcnait4fc .. t'fre millions b. ug, made on the
,'ad wI;A'a ''e var, and Of T. millions within
e." wears, tht tHar;cr Is forfeited But besides
d, tits, ate Etuk cannot BE- INCREASED beyoud
l.l laa.. uaN an autoaal equivalent 10 any cor.
rmPjAtt4 ,ueEeasc shal have been first called ia
& fesI 54sf 8
% Increased beyond pdH,ns until the Road
caches Tennessee, mar havoud 2 millions until
hc road reaches kcntacky nor can il reach II
Millions until lie Road IS raa~ encitd 90 Lexington
The ksa Road fa8d, ara pot ui ohar~a OF a &c.
'afale Hoard Of Directors. aud the payment of
hrH instruments by the subscribers is secured by