Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-10-25
Miscellaneous.
From the Charleston lIercury.


! Il Adtionul 6unH not The Cause or a
Heuthy otaic 81 jElrh,tnye.-Sume Ul our
teiiu" ciiIZeus couiinc their ars sulncnl In ia
vur OF Il Nauumai Bank, 10 The single poimt
oi II, operation on Exchanges, and take it
Tor granted, iilal because exchanges were
I IN " wnoicsuInc state Tor some ,ca,s, during
tHc cNiStcncc Oi Inc late Umtcu States
B'lih-'hat This was owing solely To that
Bank, and could not have been without il.
we Dcs their attcnliUn 10 the testimony OF
i'ir. ChcHcs-ui the iuau who saved that
ba'Ih, ''tlu wh" iiavlu4 been It's prcsItlcnt,
ANA uow " holly disiutcrcslcd, Is IL witness
every Nay comp tent and To be crcducd.
mir. Ctlevcs says in the 7lh number of
"SAl':
"lhc un,iIsccrnins may suppose, that the
! lacIlItc ana advautaScsU UI exchanges, grew
! up "nn Inc establishment oI Il Dank uI ,llc
United States, aud were therefore call, l,cd
by II. 4NCither the juct, ncr Inc conclusion
; Is we'll iOuiidcd.'
Noain. he business of exchange when
u became oi magnitude, grew out OF cir
cui'lstahccs, Winch suprrvcncd The peace
WIN pfca' Brilain, an,l not from the opera
ton oi Bank oi the Cured Slalcs."
ASa'n iIc lciis us, that though, before the
war, there wa> Bank of The Uulrcd
| lh,
unIii aItcr The peace ''lnr exchange opera
'iols "l The country were few aud irregular"
.\iier pdrlcuiarIIInS tho causes which
icu TO healthy exchanges, hc SAYS:
here Is capital enough, talent cnuu.i
to afford to the count all, aud more tiIau
amy Bank oil the tinted States can afford,
III Tie DuSIncss ut exchange, If the country
be once dIscnlllraIlcd from an uusuuud cur
| rcucy.'
| Again he shys-"lt is supposed by some
lhai Tie D'ihh creates competitions, which
keeps down cAira\u"an, prCcs ofcXclIau.c.
! The very rctrrSr IS ptobably the iacl. The
| tendency al all great m0HOpUticS. i, to keep
down HE competition of individuals a1d
| smaller InsliIulluns."
Again. ''UnrcStricted competition would
| have gwen us all that we have euiuyed
! from National Bank, ANA probably IL lit
| tie more; and .Juture unrestricted c0mpetiiion
| promises la lis, without doubt, as least as
much, and probably rather more than any
| Bank of the United State, will probably
| afford"
Again. "Ihc commerce of the country.
recently has been IN ii state of convlilsion,
! aud therefore, no differences can, with ms
tlce or safety, be drawn, from any euli,ar-
rassmcnt III the recent oprratic:is Of cx-
change"
He wrote the above just after tic stop
page OF the Banks, and before, under the
operation of the divorce now existing, the
banks Had resumed and our exchanges were
restored To their p:cseut sound and healthy
state.
Again. "The Bank of tile United States
never sold exchanges below its natural o.
just markrl price"
In summing up he says-"We believe
we have sh"wn, that such Bank is un
ronstltutonal; that it can not reform the
currency, or i'll any manner suhserve ,l,a,
purpose; that it is III 'rally certain it would
not preserve its soundnrss; that it is unnc-
cessary. and thai 10th politically and conf
@erintiyH ,ciH be dangerous"
Tins is the testimony and opinion of ono
who certainly best knows The characte and
tendency Of The institution over which he
presided with such unsurpassed ability.