Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-09-10

INTO The arms even of Government Bank, upon the
pr'nc,ple that men will seek refuge from anarchy
even IN the worst form Of desp"sn. fear m,
prediction has been v,Iy nearly fulfilled. For the
chances are that any bank established under the PIE
'n'ing auspices. would be in fact 0Goyefnn,rn
Bank, Whatever II might BIZ IN form. Aud here am
reminded vi the extraordinary speech of Mr.. Clay,
IN which he maintains that the proposed organization
Of the Treasury, mak,ng II independent oi Banks.
IL IN Ltt Government Bank. Whatever other
objections may be urged aga,ns, ,hs Treasury
Scheme, II Is certainly Tree fiom This. II has not
one Of the attributes Of bank. 1t would neither
discount mites Issue bills Iimould have no iWors
la confer upon any body. unless the payment OF II
ins, deb, may be regarded. II the fact of draw.
,ng upon ~ own funds 10 pay its debts, vii, make
the Treasury Bauk, every NAN is IN banker.
Bnt TO return to the subject Of a Bunk Of
lhe unlted States. When | found ,lir Late Bank
OF the Uniled States abandoned Ia its fate by all par
ties, came 10 the conclusion thar the wiscsi
that coldhc pursued On the subject would be To lei
every other expedlcnt he fully and fairly iled be
iotc any attempt should be made 10 incorporate
another. Unless the public mind can be brought.
IN England, 10 regard such bank as n MAI io,ai
institution, supported by MI pa,lies alike, twill al.
ways be II parry engine. A party conlcs, ior the re-
htwAl al The charter Al the end OF every 100 90
wears. would be almost equal disputed succession
III monarchy. The most painful OF all processes
i the reform OF the currency, by the agency OF II
National Bank alter several ycns OF untslrainrd aud
excessive bank issues. Such The case
1870. aud snrl, would be more decidedly The
'"Ne now Sueh d'ead'"' ffnedles are MOI to b"
hse"'''iyda y Ana can scarcely see WIN patience
many oi 'oose VINO cu-"Ir,htcd WIN 8chrtaI Jack
SON III destroying the late Bank WHEN II was nhpopn'
lar now ,ontcndng ior the esiab,s hneni oi auihet.
when distress has TUNED the publ opinion avo Of
a National BANK, under the 'alh AID drlns"e "a
pe'iaiIon that IT w'll relieve them tom their Ieen-
mary e''oe''',s'nen''' Nothing could prove more
c"hclnslv'ly 'l distress Is bad ieas"nrr, ilian HAT
la -
be renewed ny '"ch an Institution. lls ~ hrs'
ONE "'"'n oe I" 'o''t'l - redundant currency
h'' us see now ms ""u'd be p"''"ined' bank
"f u ~ m''"i would probably issue NJ least lhtiy
millions OF ''s o"" h'lls' THIS would 'nc ease the
EXISTING redundancy ana OF course render II neees-
shfy lar the Sta'e banks To cutitd theI issues 50
mnchiir more hia'', II National Bank per
i"'hed ~ dn'y' hs entire opr'al On NJ htst would
be To increase Tue pressure upon tie state banks hh
through these l'ie dIsifessrs oil the people.
No'h'ne mas surprised me moe ilah that the
STATE b'nks shoaI'' ~ some quarters Oh The un'on'
TOOK 10 NaIlota' bhhk rs u means 81 relieving
them Ga the contrary, 80 H., IS lhcy afe concerned,
me y hl"hM DAM "onlu De worse iiIah an lhdeltn-
dent treasury with the specie Ieaoreas 1t Is called.
Inc pnh''c m"nles wonli be- OF course, deposited
~ the National Bank. Now we kho" that although
ne late DAMN OF ilt United states was very Nbci-
al III ITS de"hSswhh tie state Banks, they wei" con
s''h'y comparing tla' when thelt b''ls were dt-
los"'" W Wv, Wv, '''s"''' y, '"'' p'"n, n'p'"eny
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Enlistment nf , N,t,tr,l II ,ut un,l,, , j. avn.
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.,u,ply an aba ,dov,u,ni If the ne, Hnnk system
vhl,L nII all p,n,,s b,v, c,nl4 nn,J aoJ or r,,i
experience has confirmed III, sen,,n,e nh, ob
.r,,,n ,In, i, increases rho pa,,uny. AMI ,,nn,nc
al ,h. I, 40, ,n,u,, - .h,liv ~ ,,,,,,, t,o,,, ,,
h-l,,v. an IN, ,o,,,,,v ,,, III. no,,e, ~ ,h
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he 1oy.,,,,.u, iund. on general d.nn.i,e nn,,l,l
owe n sn.,kln, with, Lnund. nur In, died Inn.
a. much p.,tounp. and influence ns the ,,n,n,,,,rn,
confer
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~ '"' ~ - $500 "' ~ q" "''"'s'' w " ith