Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1837-01-19

fail 10 arrive ct the cnnclusion that this purchase OF
ia nix charter is fraud the legislation oil the Stale
When al application is made 10 establish! company
with banking privileges. it is always necessary 10 coa
vince t!!c Legislature. HAT the banking cdp'ta f:os
cd 10 he embraced III the charter IS needed at 'e place
at which it is intended to he located, ana mat Inc
Eanhnr powcrs granted will DC used Gcnclicia'y.-
And the capital Is always restricted 10 III aiiou'l
il is believed will not give dangerous i'"e' "'.
corporation. If this purchase by lhc uH''su "".a
Bank b. permitted, all of these sauaty prtct"'""
uf the Legislature will be defeated. 1t The U"ite"
States Bank be allowed t!:e charter whch j.
la purchased. i; is in van that the lrg'satHte ms
Gifted III that chariot tic amount h bank capital L, ="
yc! unGtr lis provisions. Instead u ti!s "i!''u
SUM- r mammoth bank may employ ut Cu.u:uOuS s"c'
part Of its capital, as lis ambition "F It's
interest sl" prescribe. rs ua5oundrd Credit Tie w'"e
range ui lis circuiaon together with lis great caPa
"::d caa5" il Ia cluse The operations OF every 0er
brak in Columbus. One ci lis advantages would he
moncrpy Of the exchange business. Merchants wish
iig /" make rcml!lanceS to New York ant other distant
places, would obtain drafts from this bank btca;Sc III
those distant places its credit wGd in genera bc better
tilln that Of any other bank in Columbus. For these
dat It woui he paid III the nGtrS "i lh; different "hS
OF Columbus, aud Of lie other haaks OF the State cIrcu
lang IN that city, and IN this manner would IL cunilu
ally draw in and accumulate the nncs Of those Gaks-
TO this operation there would be no cpunlcrPoiSe-
Through the Bank which il has purchased, 1t w"ul Is
sne notes payable in ihadrIrai and these would be
sought after by travCirrsand Instead "i being c"ecl
they would be Dispersed tn, country: Who does
the disastrous effect of this unequal intercourse
In the quarterly, monthly: or weekly settlements
| which would be required, how would the State iIsu
tons be able ~ redeem their noes-bul BY the payment
Of their specie Their gold and silver would 0e con-
sanlly drained from them! and in SIX months pfu.
Lcrcc would compel Them 10 contract their issues within
such narrow limits, 10 rcndr! their capital unPoi:tu
Die. Every Lunk, which should be rash TO attempt
profitable business where the u States Bank has gain
cd lou;hod, would in L few months be wound tip
What it would he able 10 accomplish III Columbus, bY
the nsrunrnalty Of the Insurance bank. whose char
Ter il has purchased it would he able 10 acc"rs with
equal facility aud certainty in Macon, and AlledceIlc
and augusta an! Savannah, and every other corntr'
cial town in the Stale, by means Gl branches oil tic
Insurance Bank, which il could establish III those places
1t could PROSTATE every bank i'll the State And who ~
crrdulnuS to believe, that it would naga!"us;
refrain from the exercise VI power which II would
poSsrsso We have il, when struggling to eAlort
charter from Congress, su'lousy spread pane and
| distress over tic country, aHd with cool calculation
Gcsirned!Y reduce thousands Of unniiendng iEcn 10
beu.ary. Who would subject himself and h!s
country 10 the domination Ui this ambitious and cruel
corporations; 1t is Tremendous political engine lis
money has been employed 10 give direction to pnbi'c
opinion bias the elections uf the people, and ID con-
lrv the operations Of tic government Whose money:
The money Of foreigners! o. Engl!shmcn ANA French
r; For they constitute large proP"ItiDn OF It's SGh-
holders Let it not have time 10 shed lis balcu In"'
c!lcc the State Let il not b. allowed an orporu
uy Of employing the seductive, the dangerous powers
If corruption winch it IulIs, 10 bias the political c":Isr
o! Georgia. Let The dangerous intruder he expelled
from our State
We believe that the ordinary judicial powers Of the
government sufficient to effect Tins object line u
STATE; Bank is being not known to the laws ol GeoF,
gin 1t is the creature Of statute oi ana
has legal existence in that State. When It attempts
10 extend itss into Georgia. il has wandered from !i5
proper sphere III which alone it il possessed {" coro-
c!lruct,r 1t has here rcDr all unant,l"Z"G as
socalon aud lis various officers have ceased TO be Inc
legal representatives Of lis numerous slockhoiurrs "ie'
ltrr in any Of th. United States i'll France: or III
England. BY the of Georgia, the president and
directors Of the United States Bank chartered Ivy Tenn
syvana canot b. considered having any legal nights
in this State The individuals who are employed III
lii, actual administration Of the Insurance bdHh o!
Columbus nnihing than the agents OF corpo,
ration which has legal existence III Georgia; ana
which is therefore incapable o.! Lcegatlng any legal
powers those agents. According II the true icaH'
ing of the charter and the indisputab.r Intention "i Tie
Legislature there neither legal stocEh"iI:TS nor
legal officers this bank that has bcrn puicla*ed ana
tie individuals who have been administering lis aa!Ii
since the sale, have no valid authority Tor iht c%G'cs.
u banking powers 1t appears 10 Us that Judicial pro-
! ccrdinr should be instituted By the poprr authority,
having for lis ultimate object he annulln Of this chat
Ter; and forthwith b. I'M junction, prohibiting the eIcE
csc OF barking powers III the name ol Ills pahk, ad
under the provisions of this charter.
Should these judicial proceedings be thought incom
rctcn should they FL 10 cxpcl the nsdiouS intruder,
let other and .nuc effective measures be adopted with
ont ccIay to the banks Of the State from rum anu
10 preserve the people Of Gcor:! from The rntIng
influence, and the dcbasiag domination OF The United
! States Bank.
We hope that our remarks will not be considered as
casting rrprnachcs those who have sold This CHATTER
10 liin United States Bank They personal and
political friends, fer whom We entertain hgii rS-
rru and strong attachment. Wcare gricvcd tia! their
Judgment has differed from ours. this very important
SUBJECT but doubt that ilrir motives have been
pure and that their conduct has been honorable. Bat
affection for ieI caunol disur.h out hostility to
corrupt corrupting, and most dangerous, BECAUSE most
! powerful curporalIo;i.
.I.scsrt imiiy iua, who refuses to sell.