The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1838-10-16

~ a;~i ao,,,.oss ~ vo,es gives orr
"''''" ''''' rt..c nI..,.,.a,o = 5AA rooiori,v
aho,,, ooo no, oo;, from Inst
~ Wv, ,::,i :; ,h o,,o nc las,
9'''' ~ ~. a. ; M, in ,ha ,op
II, ,,. t l, ~, asian
"''' r,,J,: e,,., E,o,, boi,r ro
'7 .n moot. cha Will; mn
c, , bu, Or
J''' " ....ia.-..v---,r-.-----.
n-y,Tho present session OF the Legislature will
NOT uroboblv ex piro without having the sub ect of
hanks and ban king brought before it lJr consdera-
tion in the shane of petitions for new banks or for
the 10 charter Of some existing institutions, whose
charters are about expiring; or ncrhaps Mr Tom.
Er,ersor's bpnk at Windsor NAV be ralkcd about
sor,o I, deserves il: but the tender ne rcies Of
his tor, brotbren nav possbv To avoid family quar-.
I in,ucc than, IN treat him with more than their
s,,, cour,osv II snotn i,tle singular that after
oII fine alterations Of the tories against the banks
Tho hauks i'm the Sntc all eXcom This loco foco
conccrn NJ Windsor discharge rlcir obligations to
the neo,lr. The Vanires must hive possessed
some inlo;tfvc knowledge Of thcr friend Emerson's
hank otherwise how couII ,hey have discoursed so
oIooueully about bank corrupti0Ds2 They made
email nia.al<c in thinking th0t all The banks
like their Windsor Pet
IF we mistake not. public opinion is decidedly
IN favor of well regulated credit svsenl--consid
orn,r - poner currency indisponsahle to the pros
ne,ity or,hA State. and is rooJv as the last cleo
t;, Ir,o,,e,ro,os 70 s,s,oin - sound paper circu-
le,ing medium in oroG,rence TO the no credil-sys
tan, md hard nancy doc,,incs orlhe Loco focos
:; o,,,,r, o,.,. -, ,ho v,7r;os ,hopgb thew
Ioo + in;,od !, tho crv .sdovyn with the banks y
oro in favor If so reoulatina all new banking ins-
I,,,; ,lo, ,h, iii L,lInrs will ba e,(a And
ho,, han ,h,, Lo dana i tho i,,,or,,nt ;nou,rvp
MI, ,,,oo,ost o,u o,te,}i,o tho nrcscnt bankino
systen is mot 70 he Gurd in anv necessary deGcien
o in ,ho tcr.ors ri hanks so ,r,,cb as in the dis
hos,, Of ,,o NOR, who NAV con,roI the hanks
r,I I,r+ors arc ammo !, ,hoir nrovisors to nro-
tao, ,ho s,oo,Io !, ,ho hands orhnnest men: but
exoerienco Inns shown that such oman as controlled
rho Windsor hank can take ADVANTAGE Of them to
tho do,ri,,cn, of tl,o hill bolacrs Tho Grand de-
siIcro,u,o ihco i ,ybo, provisions can be ncorpo-
r,od into - hank charter while retaining the pres-
ont General features Of the system. that will insure
suCety. We saw. make the private property OF the
stock holders liable 10 tho amc mt of stock holden
NV eocb iudiv duaI ni least for the reaemption of
the issues of the bank One great error on the part
or hunl stock holders is their inattcnlion to the O.
lection O! bank officers an, hence it is rot unfro.
oueut that an ambitious Spectator, Ly securing
proxy votes or sumo other means gets the power
into his hands of choosing with few others, the
men for officers who, like himself wish to gain
advantages by bank facilities and thus play into
each Others hands, at the expense of The people
Thus it was with the dcpos,Do banks in Mass, and
to some extent doubtless with the Windsor bank
The deposites were regarded by the pariizans o.
the administration as pluuder belonging to them in
consideration Of their services to thai party. Adop
the plan of making stockholders Liable, aud though
lin itself alone il would he of small consequences
il would be remedy for the prevailing eNi--tha
is il would be an nducemont to the stock holder.
to attend the meetings for the choice of officers anc
for them to put honest men into office; and wher
this shall be done bank explosions will be as scare,
MS tbey now are when managed by honest men.
l. oJn or icb oil,
l., conoroniod IN, son,( lint which ,cl,s that az