The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1837-07-01


popularity of its own vicious principles,
'& consider the publication of plain facts as
inimical to its future operations. Let both
articles be read; and the inference must be
drawn that the Bank or its minions are afraid
OF their own statements, made under oath,
and intended for publication. Is it our
course, in stating facts, that will diminish
public confidence, or is it the excitement
such mere statement induced that will
operate against the Banki Certainly, if
the Bank of Northumberland breads an ex-
position Of its affairs, no one should touch
It's notes; and when publication Of its oscr,
statement, exhibiting the disparity between
its circulation and specie, gives offence to
ANY DIRECTOR, and calls forth such an arti-
Gle as quoted from The Register, we would
not hesitate moment in pronouilcing the
Bank either unsafe as a depository, or dam
gerous to The right offree discussion. In
order, however, ''to show with what flip
pancy opinions can be changed" and to
disabuse any wrong impressions, we here
republish the article alluded to as having
appeared in the Democrat of the 9th of
May last. We give it entire, as we neither
fear reference to any former of our acts,
nor shall we ever be ashamed Of the truth
From the Columbia Democrat of May 81.
BANK OF NORTHUMBERLAND.
The Directors of this institution, as pub
lished in our last number, have unanimous
ly resolved to stop specie payments, EXCEPT
FOR THE PURPOSES OF CHANGE This course
was rendered unavoidable, on account of
the previous adoption of a similar policy by
the other banks of the state. 1t is with
pleasure, however, that we can express an
confidence in the Bank, drawn
from the magnanimous conduct of the board
Of Directors, in pledgiug their private estates
for all Its liabilities. The names of the
Directors are VIM, M'Kelvy, ]. H. Cow
den, James Hepburn, VIM. Clyde, Peter
Richter, Abbot Green, James Merrill, J. r.
Priestly, John Taggert, James Hepburn,
VIM. Forsythe, A. Jordan, II. Frick, T.
Coryell. These gentlemen are known to
he community; g. we feel assured that no
Bank in the interior of Pennsylvania can |
produce so great combination of wealth |
md character in board of directors--such |
/ sure guarantee against losses to the holders |
If notes. We can also, as a compliment to
he Directors Of this Bank, (Which they
nay appropriate to themselves individually
f they choose,) add the simple fact, from
personal acquaintance, that there is no such |
parsonage amongst them as a
Thus much we have thought
proper to say in relation to the Bank of
Y northumberland, because at this crisis, are
,lust choose 6efaceen THE same KIND
OFEXISIING EVILS, and excite pub
ic confidence in such as we conjecture to
'e perfectly solvent, or which are rendered
aie by the obligatory pledges Of the direc-
ors. We are under no obligations to the
3ank-as we are neither drawer nor en-
Iorser on any paper which ii holds-but
he conduct ofits managers certainly deserve
ONE commentator a0hen placed in CON
acith some others.
Where, then, is solitary expression
which would indicate change in our opin-
ons in respect to the Bank of Northum-
erland, or any other moneyed monopoly?
Not sentence can be pointed out which
will even exhibit the slightest inconsistency
n our views and sentiments on the subject
lluded to. In our article of the 9th of
Nay we set down all Banks as EXISTING
WIS, and only noticed the course pursued
" the directors Of the Northumberland con-
ern as deserving some commentator ,0he,a
'Laced in contrast iCih Others In our
ast number we merely published the Banks
,On statement, without one solitary rehec-
ion on its character or operations as an in
Iividual institution, and without the most
emote intention Of misrepresenting its fl
lancial transactions. This constitutes the
'ffence which in the estimation of an edi-
or and a magistrate, entities us to the ap-
'ellation Of an "incendiary"--a hard-mean-
ng term either in its legal or ordinary ac-
eptation.
In regard 10 our course, we should deem
my further remarks unnecessary, for the
Of Ou previously expressed