Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-06-21
Alabar,a 100000 1900, 900
Louisiana 37,000,00O s.bOO,000
Mississippi 100000 5.00o,Ooo
Massachusetts 80. 900 900 10000, 900

Massachusetts, $4,000, 900 100000 900
These facts and figures speak for themselves. II
VIII not be pretended that a smally city or State,
WIN little commerce, requires rs much currency ~
those which arc larger. aud have greater commerce.
Upon what ratio will you rcgulaieitf That OF pop.
nlation OF commerce, or, what is the nearest ap-
proximaiion 10 n Just ratio. combined one Of popu-
laiion and commerce. New York has ten times the
population OF Charleston, and is entitled that pf'n-
c'ple TO eighty millions II has twenty IL has forty
tunes the commerce. and, that ratio. To three hun
dred and twenty millions: on compound ratio OF
numbers and of commerce, To twenty five times as
much. which is two hundred millions. 1t has twenty.
And 80 of all the Southern cities. New Orleans,
with one-tcnth of the trade, and sixth OF the
population OF New York, has one.Ihirl more OF
banking capital. II IL still more strki ngly shown in
tho of Philadelphia which, with one third of the
population, and less than n fifth Of the commerce OF
New \ ofk. has three times the bank caplal Not
less striking is the case OF Boston. Why has New
ork 50 far outs,ipped them both Will any one,
in the face OF these facts hold up his head aud
tribute the power and prosperity Of New York to
the banking syscml But il il TO the depositc Of
public funds that the great prosperity of New York
is owing. How much has been, average, de
posted there NJ any time Not more than three or
four millions Add THAT to the capital and currency
of that city, and how stnkingy unequal still is the
statement
do not suppose that il will be pretended that pub
lie money has any peculiarly refreshing and invg
rating quality, any moro than NO much private capi
tai. This whole notion about deposcs IL sheer
aud downright iallacy. The money Is not deposited
IN New York unless collected there. No bank is
snses to the whole amount of its dcposes u por-
ton OF IT, generally hall, remains locked up, and IL.
to that extent diminution Of currency, aud therefore
an embarrassment instead Of an aid TO commerce.
o all the e>tiavaganeirs that have been breach
ed by intelligent men. this s the greaicst--to at
tiibnIc the commercial power Of New York 10 causes
50 obviously insufficient What made Amsterdam
so long the commercial metropolis of the continent
London, Of all Europe; Glasgow, of Scoiandl
" no can tell, OF what sane would have altrbui
ed either to- my one cause The advantages OF New
ork are vast and innnmcrable. The mos, perfect
local position, enormous accumulation Of capital,
regular packets, and ships without number, and mors
than all, hcilies of inland transportation, unequal
led aud perfect by which goods imported these are
distributed all over the United States. II Now York
had not u single bank, the currency OF other States
would accumulate there more than nj any other
point. mel IN New York, u few days since, II
friend who had gone there TO obtain funds to set
on foot bank in Arkansas. ! asked MN If he wish
ed gold aud silver he said no that, Tor the greater
part, he preferred exchange on Now York. lie was
right s'r mud the fact is the most CONCLUSIVE rclu
tation Of all these fa,cies. There are means by
which the trade Of tho South. and Of much OF
The West, may be brought back to our city Of
Charleston But IL never will be done II reliance ~
placed upon every new theory, more political than
commcrolal that is started One, and the chief Of
these means ~ our great enterprise Of communica-
ting with the West by that, and similar works, this,
10 the South, great end may be attained, aud hope
and believe II viii be. | hope so, sir, from every
consideration Of interest well every feeling OF
affection. should love that venerable old city. If
ior nothing else but that il held the bones of the
Rntlcd2es, the Laurcnses, and the Pinckneys; and
now in her day Of calamity aud suffering, that feel.
ing is almost one OF devotion. But ! will not sup
port every Wild and 'mpractcabe theory, because |
am told ON any authority, that will benefit Charles.
ton, when have shadow of doubt that the effects
will be directly The reverse. called, some since,
for report showing the receipts aud expenditures
III each of the States. The Secretary has not re-
spondcd 10 the call, and must, therefore, take the
report OF s3i, the last that has been made. In that
the amount received and expended, in the several
States, were as follows, in round numbers: