Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-29

BlNTS ON A SOUTHERN BANK Of AMERICA.
To tfee the South from Abolition influence, and the
expressions of Northern commerce, let the Legislatures
Of Virginia. North Carolina, South Carolina, Georgia,
Alabama Louisiana and Mississippi pass 1int charter
r SJuL,ra Bank Of .!ueica TIE Capital 10 be n52ut
forty saioHS. and divided IN something like the follow
ING proportions Virgins SIR millions, North Carolina
Hc0 South Carolina Georgia tTe, hsbams IKE,
Louisiana I'm aud HIsssslpp fire Each Of these States
to have one OF Branches bot the mother principal
Board 20 be Charleston Sousil Carolina, tie mos,
central point; ard each Saie to harea representative IN
that Board Each S:a'e /" hU't ,ETee.:ourths Of the
amour, of capital held and rneG 20 Il; and appoint
proper proportion If the Directors let the States
issue scrip braring SIX per interest for fourth
the amount OF cspa assigned lneG-send, and sell that
IN Europe elsewhere 10: specie. Tins w0u!G produce
Ten millions. Require lrHTIdua! subscribers to pay spe
gOuc Current bank not g. Which would prncnce
ten millions more and would b. mainly bank notes.
mixing twenty millions 10 commence wlih. The States
would To the B:mG ts-n:y millions more for winch
irsy shrald ISSUE scrphe tie snnr With the branches
respectively the Stairs issuing Il, subject 10 sale al
ANY 10 raise sa-cie TO prevent suspension Of sPe
Gle payments b" not 10 carry interest until actually
sold. NPi,acr The whole corporation, nor any branch
u scount than twice NE amount Of It's capital
STOCK 10 c,rcate any note Vi less denomination than
dollars Full reports 10 he published every quarter
.! U Ih- business Of each branch, and annual
reports be laid before the Legislatures within which
the branches s,fa D. respectively located, with tu! right
Of seGrca and examination by ,hs Legislatures.
Such an institution would enable the South send is
products To market, and consequence
import for It's ~ cnEe1mplon. The people nf the
North aye the BANKERS and factors TOR the South
with nothing bet bank credit. and prOdGcc tr cgpt
tat They growing :ch by purchasing our produce
too low an5 selling - us IN return foreign goods aHd
their own manufactures too high Bu, such Bank
would make the NORTH tributary to the South few
wears and Instead Of disturbing ur property they wOuc
have enough tn dn 10 MAXI thef bread. throw out
these Auls for the C",n~Icla Conventions and meet
:ngs which taking place any thing can De done.
mus! bc more than and words 1t old yn..
tia; no orc is 50 far fu. market he that has
thing 10 sell: but the that has no! the OF III
cartion 10 cary what he has produced 10 market. may
be said 10 De almost tar Of So is with the South.
and it the South oGiy that correct or improve its
condition.
In addition to the great advantage such bank would
confer upon the people individually. by increasing the
price OF produce. and rsSening the price y: imported
ronSs the States would derive large revenue from
6ank dividends, which. II properly applied 10 improve
upn.. would perrrg,s The Western mountains op.
postr each Of the great Southern Atlantic sesports-
Thus according the above scheme The nett income OF
Virginia part would tsceed S20J0G0.
If the above csyI.n shO0i be thought too large, less
ms ut probably more States might 6e added
But those above named may be considered as directly
interested in regen-ralIag the Commercial cegradauon
into wa:ea they have been plunged by Northern ;ac
ties and enterprise hey The great planting States
OF the South bordering the Atlantic aud Guii Of NeT'
en- and are homogeneous social intercourse political
institutions AID common suffering. common syMPs-
thy and interest bind them together, and ihey have out
common object erc, VIZ that q! selling their own
products. or exchanging them FOX hat hey want them
selves upon their terms and OF protecting their
own properly aud institutions IN their own way. ke-
collecting that the silent and active operations Of com
mece carried on by their adverseres OF the North al
crescent if not courtrracted. vii! !aecltabiy conquer
v ha, tie swoid dare not be c!awn 10 ciiest
OLD SOUTH.