Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-05-28
LYNcmnuHG, MAY 2s,isas.
NATIONAL BANK.

1t viii be seen that Mr.. Clay, IN compIlance with
The reiterated calls Of Mr.. Calhoun for his projet Ola
National Bank, has laid before the Senate, the out
lines Of such a charter rs he should deem it expe-
dent to enact, were it practicable now TO do so, ard,
Icing practicable, if he were convinced that 4 ma
lority OF the American people desired the incorpo-
ration Of such an institution. We believe that II IS
only through The fundamentally OF a National Bank
that he duties imposed upon the federal government,
by the constitution can be performed, and we have
40 doubt that a chatter may be framed which will
render ii an effective financial agent, whilst il will
guard against all the tendencies TO abuse and dan
ger, imputed TO the late Bank. Whether This be 50
OF not, it is time that the attention OF the American
people should be turned 10 the subject, that they
may decide, once and forever. whether tley desire
lts incorporation. If they do, the principles upon
viii icl it shall be based cannot be TOO maturely CON
sidcred, or TOO soon determined upon. ifthey do got,
they cannot at least complain that Mf. Clay has openly
avowed his own opinions, since it places the question
III issue before them, for their decsion-a final one,
we hope It will be, rs well for the peace rs the
prosperity OF the county. Mr.. Clay, however, does
not design to introduce any bill at present, nor here
after, rnless public opinion, uneqaivocalIy express
' ~ VI GUN " ''l' L II BibJCNl "iilh
he has submitted Is merely an expression of his o.
plnlon ofmhat should be done. aud is not designed
as the basis ofany action at this time. 1t is lorthe
people TO determine whether there shall be any action
upon ii hereafter. 1t is ior them to say IN the event Of
The defeat of Mr.. Rives's schemc.-or.s should he sue
coed in procuring lis adoption, OF It's failure to answer
the purposes whether hey will prefer
a National Bank properly organized, separated from
the political power, guarded against foreign influence,
rendered perfectly safe, and deprived of the induce
mcnts to undue expansions and sudden cuntractlons
Of its circnlation,- ora Government Buak, founded
upon the revenues oi the treasury, indissolubly we'd
ded to the political power, under lle connol oflhc
federal executive, and limited in It's issues of Z" con
tinental paper only by the discretion of HE party
for the time being in power. For one, We have no
hesitation in choosing the former; and sc believe
the people Of Virginia will do likewise.
The effort of Mr.. Buchanan to iaduce Mr.. Clay to
name some place for the location of the Mother
Bank was most ontemptibIe-sinc its only object
must have been to excite opposition to the measure
aud 5 mover, not based upon objections to the plan
itself, but growing entirely out oilocal rivalry Had
not Mr.. Clay dlScllimed amy crctaSlte preference fof
- Biddle aud the Bank" the changes would have
been rang upon the ~impolcy OF giving a charter to
the great = Non Retumer"-but as lie disclaimed
such preference, Mr.. Clay IS charged with having
deserted his " late ally" and viii having formed
a new coalition with Albert Gallatin! Indeed, Mi.
Blddlc seems now to lave become a iIvorIte with
= the patty" 4 We Should not be surprised to see HIM
c~u'o-iHed. even by the Globe and the Enquirer, and
a toucnt Of abuse poured upon the head Of Mr.. Sal
TIA, the able Secretary Of the Treasury under HE
truly Republican administrations Of Mr.. jefferson
and Nh. Madison, and, so long as they could pl Y
HIM off against Mr. Blddlc. a great Gyofite with the
Globe faction! Strange events are yet a3ead