Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-12-30

v ifheut The violation Il The prime - es 81
i- sreisl eonnaei. the observance Of which IS indi-
PEI tide - rs cxi- tence intei lefiug In
.ui the useful snd prohisble emp ynest o. ies' ca
s,fal.5
lusiituiion. 20 framed have existed ard .nll exist
-lsrW here. giving 10 commercial intefconrsr ali re-
.exs =, facIinie- sthont indaiIne deffeeisfins
he satfeues ~ stimulating speruiaien. THUS ac-
comprising lheit egH'aaatr ends. hey la'e es'nfd
he surrst guaranty aT flcE protection ard eneout-
aertnent In Ihe s,slj viii UItile community. Among
People 80 ju.i ea,s the same re.uf, could MT
rsa IL as ~ sfnar ,nutse. The direct supfItI'-
ian Of Tire hacks he iar =. fratn tHe nature al nHf
Government = the SUITES WHO auiierize Lem. It's
To tdrf Lee isla'ufos tl.sl Inc People must naHis
laok for action IN lliaI sul Isci But the eoBiuet
Il .r Frd, al Caves IT ~ tie management 81
n. revenue has alaa pa .etfu1. lnoughisn inuar-
dIatr Influence upon lie n. u becomes our dniy 10
see that proper direction Is gwen 10 IT,. Wine The
keeping efihe pnhie ,e,enoe IN separate AMI In
de euJcn, HgeasuIS. aud Il 6ollepng Il ~ gold aud-
stef. vii have slutary btloenee On ihe system OF
;apef tttdt wh which ~ banks arr connected AMI
tbrs I'D hose that afe sound aqd well managed"
~ a. al tie sane Time, srusbiy eheen sneh a. are
othetufse by AZ once Withholding thr means oI es-
ffa.asance Afforded By the public funds aud fesran-
lag Ihem iIup excessive ssers oil nnies VINO "a they
,ua.I be constantly called upen 10 redeem.
nm aware Il las been wReJ that tiiis control
ma. he b..t aiiane,. aad eaeItcdhy means Of NJ.
.t,,,ai B.ak The constitutional objections, winch
am veil knuwn 10 entertain. would prevent me "a
any event nom pfopaster asserting IN tl"t fe'nc=
ia: hut ~ addition To th@ caun"'. alter pa,i txpe-
firace. bring myself 10 ihaa thai II IAN any longer be
extensively REGARDED - effective los such purpose
TIN Lts ofy oi Tire aic Asioaal Bsnk. through "ll
rs mutations, shows tlst II vas not so. On the CON
nary. nBs..,ler cafti1 consideration 81 the sub.
lroI b.. ilinh safely STARED that II every peliud al
hanklng excess II look lie lead that ~ lci7. AMI
1els. ~ ls23. IA ls3. and "a s3i. rs 'ssi e1fsn-
: sons. followed lay distressing toHifdetions. Itd 10
thusr 81 liz STATE insIfutiDus. Il >. clled and rad
tlrned The ldts 81 lie banking system, lat seldom
ale, ed AZ saft ., directed ibsm. Al few periods
nus "a, Faiulsty control exercised. but ~ oHeef
Il, SIR. itr contrary, exhibited Tor ruht 10 Tic
piaoe aad II, afers ards. rs measures mefe
srsfie foaatds afhsT institutions, Il "as because rs
nuHn stlct, compelled adopt them. II did not
irt lfutn ih"m ~ IfluciPle o. m form is Wea-
.urcs elnspaira ON tie spIft 81 gain. II ielt
the temptation IA oEefs.urs 1t suffered rom,
and vss fofIi, uHable - aver, lhase inevitable
Ifws 4 ifaJe ~ ~ht, hn "as lse affected tquHlis
ga lscn and At ltasl an oae occasion. Al Al tsf-
y sat. s.sriI only BY eHuaOfdin - tXtti#ors
hom ia" same iae tai a#f.autd lie N-ekcsi unsli
Hi3ou II rr,1es>eI Ia Supervise. In 1887 II faicd,
equally ~Ilh u hef-. "a r,deeutng uutts. though
lie fNo years allowed bY Hs thstttr IT that fuf.
fsn,r al o"t eNpfed. large amount Of which ~.
tatiiS ia iIr ptrseth tue Outstanding. II i true,
n at having vast eapit5l aud strengthened hs
possessed more po~r, E.; bal mhilr was ,lseli. by
ma ct,etfustauer. ed from The coutru winch all
hsu.s - q4itr ia paramount ottrct aud Indueemcut
We istt lie sauir--to make lh. most Tor lis stock
Io.drts. nj TO rgtltr the eutsues oil thr country.
Nuf is #. iar advised. bteu found IL
~ ere#ts etsrlsiss elsewhere he nsiinnal ch
aclsr YEA TO The Bnuk oil England has not proven.
led cxs,s-iye il4riadinns IN lbeir ennrIcy, aud II
ptuYrd unRilr - k,rpuit suspense Al sprcfc ply
men,'. vii I'll lasted ~ nearly qatier Il aceu,n-
~. Aud Why -h aid We eNIcG II 10 be otheI"tstl
national lus,autlpu. though DENYING us chnlr,
ton iii Trui -uutee thantf Stale b.uAs, - yet
constituted uon fbe sat"r p noiIl' Is conducted
~ men "a ailY ,Npn.rd 10 lenr faion and ~ llahlc
10 tae sn"" d'raN#rts; with Ie ,dd,ipnal dsadyan
"4r tat - magnitude "cE .snns - c&trnf al con.
iu.loa abd dl>ttr-s "heh the Encouragement Of
se'.lrr institutions could rot produce. Il Can
'oa'cei' he d"uhl d mai thr recent suspension al
tae l .Hed aia"s . 4pk al Penusy Iyau,a--ot WHICH
hr tdrels ~ .ituot IN thai St,lr sope. but Over
haH ihr twon-- had 1t, Ufgin ~ course ol busl-
"fs' G. a.n'rncHI "hlle II WIS nalinnd institution
INV thtfeIs 10 snnd frason inr suppo nv Hal til"
fa=he consequence "uutI have followed, had II
Sn drnvrd lis pawrl~ from ne GrucHl Govern
meui Ism vaig, brn lhe unurnces aud tnpuls, =
air the same IL look Ion difference ~ cunduri or
results By such creations. We Ito therefore but m
crease ihr mass 81 paper 0r'in md paper outieuty,
without checking lheir attend nj wis aud nntua-
upns' hr oAlrn ii po"cI and tie efficiency ct on
Z" @''7h "hith We give, 81 Tar from beng brut II
I ei''' "lr ~ lHdttleu positively injurious. Thcy
+ siirne lien lie thaIa al dependence Throughout the
uno" suiJecf all pai,s n"te certainly TO comrno n
DISASTER, and bud every bank mote ell ecIualy. ia
it not instance, 10 litose al our tonmeIcltl ciic~
f AMI, IN The end, Ia foreign Power. In a word,
e'onol but brrve lhh, "nh the lnii understanding
. 81 Tie epeRllons al our banking system which sN
pe'tenee has produced, pubic sentiment not Is,
opposed 10 the cre'l,on oI ausl"nal honh n' pu'po
+ ses Connected With currency and cnmne,ce. than
ior those connected "Ih hs fiscal operations OF The
I Government,
letthe commerce and currency Of the country
arc suffering evils I'm N thr operations OF the SAFE
hanks, VIM cannot and on hI uot TO be overlooked
BN their means. We lave been flooded with drlrr-
/ ciaicd paper, which evidently the design oi
: The irimrrs II The Cansrfntiln 10 prevent. when
they required Conctcssto "coin money aud rceolaDc
lhc value 81 fortgn COINS" aud hen The, forbade
The States 10 com money. emit bills Of cted, NAH
any hing but gold and SILVER lender IN payment
al debts. pass any law impanIng tie obligation
oil conttacs,' II thry did MOI guard more explicit
~ a anst the present slate ot things II was be-
cause they could not have anticipated that the few
banks thru existing were To well In extent which
wuhld oxprl 10 reat drgiec the gold aud silver.
Tor winch Thy had provided, from TIE channels oil
circulation, aud hll them with currcnoy that de-
ieais the ohlr,is hey had IN view The remedy foi
this uns' chiefly with the States from " Il, sc t.
glsatIon II has sp ung. No good that mig accrue
M particular from the exercise OF powers MOI
ob'iousy conferred on The General Government
would authutlze IT'S Interference. or Justify course
lhai might III The slightest degree, increase, at the
expense ui the States, the power OF the Federal an
I ihorurs nor do doubt tual the States will apply
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