The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-11-10
BANK MoNoPoLIEs.

We should very much like to know, what
the Globe and its destructive satellites mean
by the term Bank monopolies' TO our mind
it is an absurdity in terms and to every mind
acquainted with the English language, it is
perfect solecism. .ME
What is monopoly The EXCLUSIVE
privilege Of selling any eommodity--the act Of
engrossing, so as to haze the sole poUer Of sell
ling any thing"
What does Bank monopolise The ex-
elusive privilege Of loaning money! Any
individual in the country. who has dollar,
can exercise the same privilege. And what
sort of an exclusive privilege is that which is
not confined to one bank, but is equally exer-
cised by about eight hundredl Certainly not
a very exclusive one, especially as there is no
limit in the laws or constitutions Of any Of the
States, to increasing the number of banks to
infnity.
What monopoly is there in the ownership
Of stock! Every man, woman, or child, who
has dollar in the world, may invest it in
Bank stock, and share rateable proportion Of
all the srelusiue privileges and advantages Of
this aristocratic monopoly!
If there be any institution in the country TO-
tally Invested Of all erclusiUe privilege, it ap-
pears to us, it is an incorporated State Bank,
whose stock can be owned by any man, woman,
or child in the WORLD! and whose money
can be borrowed by them! And such an in
stitution the DESTRUCTIVES s,igmatize as
an odious monopoly. 1t is a greater absurdi-
ty, than to call King Solomon's matrimonial
relations, celibacy!
Banks are the natural antagonists Of all mo-
nopolies. They are the great distributors Of
wealth, which would otherwise be concentrate
ed in the hands Of few individuals, and
would control the operations Of the govern
ment. and the destinies Of the country.
Who are the usurers that grind the faces of
the poor Individuals, not corporations
NOTE sHAvERs-not BANK DIRECTORS.
MORAL ErrRcr ov BaSklNo.--A late London pa
per contains the following remarks, the Influence
of Banking on the public morals" Impressions are
thar there Is IN the main, great deal OF truth IN
these remarks
influence Of Banking on the P.6lic Morals. Bank
ing also exercises powerful influence upon the morals
OF society it intends produce honesty and punctua
ty in pecuniary engagements. Bankers, for their
interest, always have regard the moral character Of
the party with whom thoy deal they inquire whether he
be honest tricky, Industrious idle, prudent spe
culave thrifty prodga: and they will readily
make advances to Of moderate property and good
morals than to man ofasge property but Of inferior
reputation Thus, the establishment Of bank in any
place Immediately advances the pecuniary value Of
good moral character There are numerous instances
Of persons having risen from obscurity wealth only
by Of their moral character and the confidence
which that character produced in the mind Of their bank
II is not merely by way OF loan or discount that
banker such person he also speaks well Of him
to those persons who may make inquiries respectnghm
and the bankers good opinion will be the Of pro-
curing him higher degree Of credit with the parties
with whom he trades These effects are easily per-
ceivabe in country towns and, even in London, if a
house be known to have engaged in gambling or SNUG
Cling Transactions any other way have acted DIS
credaby, their bills will be taken by the bankers less
readily than those OF honorable house Of inferior pro-
perry II is thus that the bankers perform the functions
Of public conservators Of the commercial virtues From
motives Of private interest they encourage the indusr
ous the prudent, the punctua and the honest, while
they discountenance the spendthn and the gambler,
the liar and the knavc They hold out inducements
uprghness, which not dsregarded by the most
abandoned. There is many who would be
deferred from dishonesty by the frown of banker,
though he might but little for tho admonons Of
bishop