True American. [volume] (New Orleans [La.]) 1835-18??, 1839-01-22

Legislture.-We understand various projects Of in
ternal improvement, in agitation, that same are al
ready bodied forth and turned into shape" by the re-
spective friends and representatives, of the sectios to ~
provided for. 1t is very desirable that sumo general
internal improvement system ba adopted beE're any |
rash is male on the subject. There arc many |
parts Of the S,ate that deserve Immediate aid in mpro
wing their navigation; and that rni roads be construct.
ell to facilitate intercourse with every section Of The
State and especially it'll the great emporium, and
market Of all the grand stapes-New Orleans. But il
section attempts to obtain means and State aid,
without allowing Others equally entitled, the
privilege it will excite discuntent I'd pears preven
any proper means from being adopted.
1t is understood general law on this subject is about
to e or is introduce in the L.. isIatue upon which
all the public works and improvements in con,em,la
ton, worth Of State aid may be engraed. II 49, they
will he most valuable regulation. the plan proposed,
it sad will not burten the state, with any additional
taxes or expenses but i'll only require the aid Of her
credit under such circu aud restrictions that
will not endanger, for moment her t'ecmnarv r"spun-
sbility. Such law will confer II lasting benefit to the
country and increase the prosperity and enhance the
character Of the State. The law aluds has been
introduced by that patriotic AMI public spirited member
Doctor Brashaer and hone will receive proper
sideration he well stured and finally adopted. Some
such plan is absolutely necessary T. ere are w on
hand severa! important works Of public Improvement
which ought, and trust will. receive the fostering
aid Of the State, through the Of the egisla
ture.
We would mention the New Orleans and Naehvll.
rail road the Alexandria and Bayou Boeuf rail road,
and the Atchoa'aya rail road objects requiring the
sprcals and immediate attention OF the Legislature.
There aso other public works projected, we'll
deserving State influence and connenance such the
Grand Gulf rail road the Baraaria and Lafpurche cas
nal &C.; all these will scveray up for support
and assistance to carry thu works their
completion, and to make them the great tloroushfares
arteries and channels through which transport all the
grand staples and hsavy articles Of commerce and daily
consumption TO rea ~ market.
What ought 10 be done? THIS is an important
question. The Legislature, even sunposng the,
can, ough. not to recharter the present sixt""r
banks Of Dur city, without, modifying their quas
Of Incorporation, as 10 prevent a recurrence
If past abuses. The Banks have all forfeited III eli
charters by their own fault, They now ask fo
a restoration Of their rights and privileges whou
, proposing to submit to any alteration in thei
charters The public good requires thu, this re-
sues, should no. be granted. What then ought lo
The Legislature should dsre yard the o pplic alton
Of the Banks. Let Banking he thrown open to any
ian, or Sc, of men, to a,v dom .sc corporation u
coroora, ions now in existence which exist h,
d by sufFerance ofthe public. Make /, lawful 70
/ Them to organize aud re-rrganize under ge era
i law. upon complying with the terms Of ihnt law
The Banks now in The city being already organi.
zed as monyed ins'i'u,'ns could file their certih
Gates with tn proper "i Ger and fix a.limi' TO thei
4 capital, extending it to the amour, now named II
their old charters, or even carry it beyond. ''h
nom inal capital Of the Banks IN this state is nov
seventy millions, while the capital paid up is b,l
fl,y.nne. Let no limit be fixed to nssnci"t ions u
capital upwards, but let one hundred thonsan,
dollars be the lowest point.
As to the bills a, present in circulation, til g,
could be easily provided for under the genrru
law. lie, the cor,orati"ns now organized be an
sweratle for their redemption and make i, imper
tive on them TO call their mites in. Ii any one
the hanks do not choose t" 70 organ za under H.
general law within a certain time, make il the du
d ~ of the state Officers to proceed against it 70
breach OF contrnc, in suspending specie payments
The very passage Of property drawn up bill
IT would soon place our banks in a position in wlic
u they would be unable njure their debtors, m,
the community, while their future operations hrn
" guarded by the influence Of con petition would b
= for the public g"nd. IL any doub, he Eel, to tn
operation Of such law upon the circulation q
Bank mice, e, II be remembered that the suffr
u ings "f the community would som be relieved b
the issue OF notes secured BY the pledge If stock
or property, for capital now rendered unavaiia III
by the course OF the Banks would, upon the enac
e men, of general Bank law, INN ediately find i,
u way into the mnrket.
d This s what ought 10 be done, and that speed
o ly, for tho real object Of the banks in getting M
ocke,l's bill throu Oh the Legislature is evden
j. to grind down, uppress and punish such ndividua
e as may have been oon"xio Gus to them during III
= past period Of suspension. We would be MOI
charitable to then, il we could BE-, hut we are con
81 PEELED To unmask them, and show to The publ
q their rcul faces.
Nep Orleans Gnd Nashville Rail Road.
80 When we prnned til" Article an the subj -ct
the general law relative TO internal improvement n,
20 in the Legislature, we were not aware ,ha, II
=, Nashville Rail Road Company had prepared al
49, we're about to submit plan for BaUk on II