The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-05-19

their rellcf, great measure hToug tat oil the
banks Bank credit, in form or other, real and
not ideal, they want This is the general sentiment
and feeling comprehending the mass ofthe capital and
all descriptions Of business, including common labor
with the exception of few who hopeless oftheir own
condition. invoke comfort consolation only from the
depression of all to their level The green-eyed
spirit regards the of meritonous industrious
neighbor, indeed surrounding prosperity generally,
without complacency, and without profting by exam.
pie the tools Of selfish, aspiring demagogues are
goading the destitute the vicious, well as the
ignorant and unsuspecting, TO bosterous, decamatoy
demands for the precptate and indscminate destruc
ton of institutions Of form, and substance, requiring
only discreet legislation to convert them into valuable
public agencies The prowling wolves are constantly
about the flock not to protect but to devour them
Whether we choose prolong the present institutions
ar to substitute Others care not but we evidently
cannot in the present of things, refuse
dit system or facility to those paralyzed and mporng
people whose present groans are certainly not relieved
by their aw full apprchcnsions ofth future
Upon the whole, the evident policy and purpose Of
this bill repeat as well the general tendency Of
the favonte project of some few among US is 70 de-
stroy the whole system of banking. Whilst this Oh
lect is disavowed il is badly concealed The clamer
is, that the only legitimate and usfable object Of
bank is the exclusive convenience of the people,
ngushed from those who proprietors of the
stock In the ardor of fierce hostility seems, for the
moment to be overlooked that capital pre- requisite
necessary to the creation of bank; and that if the
capitalist is not to calculate on some decided and rea
sonable advantage for himself from his instrument he
will retain his money within his own discretion and
manag cement. No banks such az those contemplated
by the anti-bank manacs of the day practicable
aainabIe and in the absence of credit ON fair legal
terms where ask again, the honest the industri
GUS and enterprsng, to obtain the temporary use Of
means for advantageous Improvement of opportun-
ties for the acquisition of independence or competence
for themselves and their families of the brokers the
money shavers or private usurcrs, where they must
pay their 10, a. and Sc per cent, for the required
means.
Let us take another view Of this subject. 1t is not
difficult to imagine that the conditions now Matching
for by few among US, if offered will be rejected by
the banks, by those from whom only new associations
spring. (for they are, at all events at liberty to
ccpt or reuse and then the consequences to the District
and neighborng country will be appalling not only
the parties themselves, to those who have any sym
pathy for them but to all who have the least humanity
left for a community under special protection.
will not attempt to describe the scene; high, low rich
poor-a will wofully experience the dreadful shock
The consequences will be similar if the subject should
be passed over without action Again, imagine the
awkward, and, perhaps deplorablc condition of bust
here, if whilst the present banking system of the
neighboring States continues that in the District is to
conform to the quxotic notions of those who
ryng fanatical crusade against it. Practical and
not theoretical experimental cnactmens rcqur-
ed Let not be Indifferent to this subject from its
supposed unimportancc. In addition TO the solemn
duty have assumed towards those people, every act
of is pregnant with interesting influences. We
ought prefer the blessings easily to be secured to the
curses of those who know control their fate When
they ask for bread let not give them stone and
epcl them with the harsh rcbuke that they their
own worst enemies"
Finally, Mr. Editor, this is subject which invites
consideration and discussion; but my other engage
ments have not permitted me to do than to turn
you few facts and hasty informal suggestions
which crowded themselves upon my mind, hoping they
may in small degree, aid the reflection Of others
better qualified for consideration and decision than
myself.
| shall claim no more Of the valuable space of your
columns unless future developments circumstances
shall require further notice.
ANOTHER CITIZEN.