Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1839-10-01

your vitals, by eIecting with an overwhelur.
ing majority, the supporters Of true princi.
pies, Starke, BilluPs and Evans.
BANK OF THE U. sTATEs-ls0e
we give the following curious document
without remark-- 1Olhe Directors Of the Bank
Of ths United States:
The memorial Of the subscribers, in behalfl
of themselves and their fellow citizens Of AL I
bany, respectfully sheweth--
That since the completion Of the northern
and western canals of this state, such facilities
are given to transportation, that the quantities
Of country produce brought to this market |
from the interior of this state are increased TO
an immense amount; and when to this is add |
ed the produce which viii be brought to this
market from the fertile regions Of the north
western parts Of Pennsylvania, the state Of
Ohio. and the territory of Michigan, Some idea
may be formed Of the amount Of business which
might be done in this place, was there a
sufficient monied capital located here, TO give
countenance and support to commercial enter
prise. The capital of the banks located here,
under state interpretations, Is entirely insult
cientto afford those facilities, to commercial en-
terprise iChich the business Of the place icould
1 bC0TJQUt, anu WHICH luc IlOSl CduuOuS prudence
would Justify The limited capital of our banks
forbids the extension Of our trade. Merchants
Of moderate fortune are discouraged from ia
king up their abode amongst us, from knowl-
edge that the banking capital of the place is
not adequate 10 the demands which are made
upon II for the prosecuting Of sufficiently
extensive business TO render it profitable; and
instances are not wanting, of active, intelligent
: and enterpFising merchants removing from this
place to the city Of New York, to participate
in the benefits Of an increased banking capita
or there, although their business has principally
en- been continued with the interior of this state
A. The western worlds pouring its treasures ntC
the market of Albany, but its citizens arr
doomed, with tantalized feelings, to behold ;
ep rich and profitable trade float past them to thu
m city of New York, solely ior the want of suf
M ficient banking capital located amongst them
Could the produce brought to this place b
u purchased here, such portion as is not wante'
II for home consumption might be exported di
d. rectly from here to foreign market, Gas far a
in the navigation of the Hudson would permit,
- and return cargoes, calculated for the interio
: of the country, might be imported, without tn
e expense Of trans-shipment at New York, o
I'd the profits Of the importing merchant there
a. These considerations have induced the cit
= Gems of Albany ONCE MORE to ask for the es
Enlistment of branch or Office of dlscoun
K and deposite Of the bank Of the United State
OF in this city.
he II is hoped this application aciH be fauorabl
"A receiUed as the same causes which renderi
= desirable TO the citizens of Albany to have
- branch of the United States bank establshe
e here, conclusvely ehew, that it would be
On source of profit to the parent institution. In
as deed, it is believed that a branch here woul
4, be more profitable in reference to the exIen
of business done, than several Of the branche
40 located in sea port towns. The local situatio
lg Of Albany renders it an enterpot between tn
as eastern states and the western countries; be
M tween the south and the north, and conse
quently a very extensive currency would b
gwen TO the bills issued from a branch here
ul and the nature Of the trade which would b
IN Gixen to the bills issued from branch herr
of anu a. .oo5'l5e of the trade which would
prosecuted mere, 1888 =, 49,
N der the bills of branch establishes ~.
les he circulating medium ofthe extensive rsi01
loaOse produce ioOtIld be brought TO this ma,
ket. :
Inasmuch. therefore, as the establishment
NJ branch here would not only be highly advar
D. tageous to this city, but be source of profit
the parent institution, zoe hops thai The director
Of The United States bank lciB establish an offc
ct Of discount and depoSite atlhis Mace
- ALBANY hllv tn 1900