Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-10-31
From The baltimore American.

BANkS.--It is unfortunate that whenever einbaf-
easements affect the financial affairs ofthe country
the blame OF the disorder should be visited pointed
ly On the Banks, US though they had produced il.
These Institutions N our view of Them bui
chimes FOR the better transaction of business aud IN
stead OF shaping the course Of things they for the
most pant subject 10 the Influences of the times, like
other poriiors of the community. To throw re-
pioaoh upon the Banks because specie il scarce,
as icasouabe ms II would be tn find fault with The
mills because they do not give forth their usual sup
plies OF flour when the harvest is scaniy, or when
the waters are low.
Can the state of the weather be changed by warm
ing cooling the bulb of thermometer Banks
may BIO considered rs the thermomeur of the
mercia atmosphere they denote It's state. but they
have liIe power 10 alter the condition of The cle
ments. Can the Banks pay foreign debt 7 lsit
their power To prevent the expectation oil specie
Are hey able 10 restrain excessive mpoit,tions,
to prohibit inortlinae purchases
These institutions nte useful not only 10 the mer-
chant, but also 10 tradesmen, arllz ms, aud shuu
to every man in the community who does business
Of any sort. coidwalner, for instance may believe
thai I've is independent OF banks that he asks ia
YOURS aud receives no profit from them. lie buys
his leather and makes IT up into boots and shoes,
which he sells his customers profit sufficient
fenunerpie him for his Ebour. lie needs no dis
couns-he sees no utility Ia Banks. But let the
tanner speak OF whom he purchases his leather
The tanner will say" | sold you leather A. six
honest man. ] was sue lhat in such line you
would he able To realize a Er return for your outlay
aud 10 uake prompt payment. But II had not
been enabled by bank discounts To obtain Gosh on
your note, could not have afforded you credit
| could not have oanied on my business upon lib
cial scale. our industry aud hobests, though well
known, would have been ofno avail. As is, howsv-
er. nol0 with tie iacllilrs which the Bank affords
me. can accommodate you-your good chaiactc,
as faithful workman is your capital you can draw
upon il,
In like manner tie city purchaser is enabled TO
pay the farmer cash Tor his wheat com. tobacco,
other produce, which he could not but for Banh Ia
cliiles, by which he realize ready money IN anti
clpaon OF sales. The merchant fit oui his ship,
and draw money upon the value ut the cargo be-
fore it reaches its place OF destluaon-and with this
M Dey he can pay the wages OF the sailors and OF The
men whom he emplovs--aIl by the aids which Banks
furnish. The useful class OF ar,izars aud othe's
who work for wages expect cash Tor Their labouf but
mrn OF Large business who make shipments TO DIS
tani countries, who carry extensive mauuihc-
turing operations cannot look for immediate returns.
How are they TO pay cash TO their journcyrnen or
wo,kmen The Banks supply the means the
surety Of values which are sufficient guaranty for
advances made, but which are not YET realized by
The trader himself in cash. Thus may the abour-
ing perceive that although personally he has
dealings with Banks IN the way OF receiving iayours,
yet those who employ him. who grant him
Communications, are enabled 10 do SO BY means Of
those institutions.
The notion of dong without Banks is 50 prepos
etous that 1t hardly calls for serious regard.
They as necessary to business as machinery
is necessary To the Mts.---To attempt doing with
out Them would be like throwing away tools
because awkward workman my sometimes
hurt himself IN handling them. The wants,
the convenience, the expansive growth Of com
merce in modern times have gwen butli TO
these institutions, The aye must 20 back and
lapse INTO us first elements before these OF
ITS own formation can iuse their bring. 1T were
well 10 expect the oak To shrink again the
to look Tor this. Banking must go on in growing
country like this: not by chartered companies u
must aud will be done by individuals. Let The evils
OF the system. wherever they known To exist, be
repressed-et the operations of Banks be subject To
any wholesome regulations which the sense OF the
community and past experience shall deem saluiary.
but let not Their good be sacrificed because eros
excuses some,nes happen.
we repeat That Ia the present emergencies the
Banks are partak,rs in the suffering like individuals.
lhr causes Of Tie revslu>Ion did not org mate with
them. II The county will - in debt 10 ioreign
nations by making eAtra purchases how can the