The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1839-11-13
NEWPORT.
WEDNESDAY, NOV. I3, 1899.

The banks of Rhode Island, in a prosperous
condition. their vaults well filled with specie, and
without the plea Of necessity to paliate the act,
suspended payment, Every where else in New
England, the banks have honorably persevered
in the full discharge OF their duties to individu-
ais and TO the public Upon this state only, of
all the northeastern portion of the confederacy,
rests the odium of an iDdefensbe REFUSAL by its
monied institutions. to fulfil the obligations i'm
posed upon them by legal enactment. by moral
Injunction and by patriotic regard for the
credit and character of the state.
Uuder such circumstances. men Of all parties
embracing in their number those who were not
merely stockholders but officers of banks, look
ed to the legislature during its recent session,
for such proceedings as would compel the re-
sumption OF specie payment within an appoint
ed time. 1t was not to be believed, by those
who had heard bank presidents and directors
admit that the suspension was unnecessary and
i'll advised, that tho legislature would sustain
corporations, created by it and over which it
had reserved the power of salutary control, in
course calculated to impair their own credit,
produce serious inconvenience aud loss to the
community, and affect injuriously the honor of
the state. But alas for the land of Roger
Williams-the boasted cradle of civil and relig
ious ireedom--there was not to be found among
its legislators majority independent as 10
speak to the banks in the language of merited
rebnke. and to enjoin upon them immediate re-
sumption. Corporations with exclusive prIv-
leges granted for public utility have grown so
numerous aud powerful, rs TO be able to rule
the Legislature to which they owe their exis-
ience-to find apologisis and supporters among
its ablest members, and 10 check its wholesome
action easily and eliectually as they closed
their own vaults. Is it thus that the leaders of
party, who charge upon their opponents a de-
sign to trample on the laws and pull down the
pillars that sustain the social fabric, exemplify
their own regard for legal and moral response
bility Is it by extending partial advantages
to certain classes or associations that the prin-
and maintained Can that legislation be just
aud salutary that sanctions in corporations or in
dIvlduals such acts as tend inevitably to impair
respect for promises. weaken the force OF con-
tracts, and sap the foundations Of government
and society tselfl When public opinion every
where, at home and abroad, is deeply condemn
ing the conduct of our banks-when many of
those who favored suspension are convinced of
their error and anxious to retrieve it, il is time
that the voice Of the people should be heard.
Ii is due TO the character Of the state to make
it known, that If the banks can control the leg
isa,ure, there are virtue and power in the peo-
pie TO provide remedy for the frauds of the
one, and the slavish, shameful subserviency OF
the other. A convention should a, oucs Be
failed TO obtain fair expression Of public opin-
ion in relation TO the banks. Men Of all parties
and OF true respectability would be there aud
the results would be speedy return TO specie
payments. Against such couyenion no op-
position could be made, except among those
who believe tha, there are questions Of public
interest OF " so delicate nature" as not to bear
a full and free discussion.
AMONG rHE CHIRokEEs.-" By a
letter received last evening from Arkansas -
saws the Boonyille Enicr,nf nj The I-tb nit