The North-Carolina standard., 1837-12-25
TONE OF THE U. s. BANK.

The National Gazette, paper entirely devoted
to the United States Bank and the federal aristoc-
racy says that the practice of using the old Bank
Notes will be continued for the additional reason
OF rebuklng the imsolent attempt of Mr.. Fan Bu-
rem to interfere in the administration of our State
Institutions" So, the notice of this subject taken
oy the Executive Officer of the United States,
party deeply interested is to be rebuked by the
llnuance OF a fraud on the American People. The
committee of Congress, the Representatives of
the majesty of the people, also treated as in
solent intermeddiers by the Bank Agents 1t is
very preposterous indeed to suppose that the Mo
ney King" and the Bank aristocracy will consider
otherwise than insolent, the interference of such
inferior personages as members of Congress or
The President of the United States-the mere re-
presentatives of the "serrile routen The Nation
al Gazette the organ Of Mr.. Biddle SAYS that the
Notes of the late Bank were issued by the new
bank, in the first instance, because the new bank
had not time to procure its own notes for issuing
We cannot conceive how want of time" can be
sufficient plea for issuing notes essentially can
celled for the purpose Of circulation. The U. S.
Bank OF Pennsylvania assumes powers, which the
old q. S. Bank could not exercise under its chart
er. The latter institution had power only, after
March 1896, to wind up its concerns, and had il,
not been merged in the Bank of PENNSYLVANIA
never could have thought of re-issuing its notes,
when once returned in the progress of its business
No one would have justified the Bank of North
Carolina in issuing notes of the old State Bank, on
loan, or otherwise, during the past year; and yet
the public would have been safe under such an ar
rangement, as the State Bank was bound to paw
all the notes ofthe old Bank, which might be pre
sented withinsa given time. Yet this transaction
would have been looked upon as deception, prac-
tised to mislead the public to the relative sua
ton of the Banks.
The old U. S. Bank has no power but to wird
up its concerns; consequently no higher power can
be delegated to trustee Yet Mr. Biddle as
sunes to exercise the right of issuing he notes of
Bank that does not in fact exist for the benefit
OF the U. S. Bank of Pennsylvania; saving that
the "holders will look, of course" to that Bank for
payment, and will be satisfied with that securitv.
But what right has this Bank to impose upon the
community the credit of other notes. when it can
not pay its own in specie In transactions among
individuals, man would hardly accept another as
security, who could not would not pay his debts
and yet, such is the infatuation of the community
such the success of the deceptons of the bank
presses, that notes fraudently issued, showing on
their face fasehood, circulated with alacrity.
because issued under the name and by the authori-
y of Mr.. Biddle! As this system is to be continu-
ed in order to "rebuke The President would it
not be prudent to ask how far it is to go-to what
extent The President is to be rebuked7 If the
Bank has right,to "rebuke The President by
tbs issue thus far made it has right to extend
to taarty-fre millions Of dollars; severe re-
buke, it must be confessed, to the whole country,
to be thus flooded with paper for which the fraud
ulent venders will not give one dollar in gold or
silrer, and do not say when they will.
Will the federal or whig press sustain, applaud,
approve this monstrous impostion-a fraud so
glaring, that nothing but the consciousness of an
elevation which public opinion cannot reach, could
tempt the most abandoned to commit No-many
of the opposition presses will not dare not defend
this conduct before the people. But they will.
many of them, support men who will sustain the
Bank in its war upon the government and the pros
Perit Of the country, far as to grant to it,
or to similar institution, a national charter.
Our readers will find further illustration of this
subject in another column, by our correspondent
/" HoNEsTUs.'' 44z5@gs
- X