Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1841-09-21
From he .N5u York Eseaiar Post.

From The Mo York Eecniag Post
Two wings met the other day on Change, one o
Pearl street merchant, and the other a person WHO
had extensive dealings IN exchanges. Both were
OF opinion that national bank was much wanted
by the country, out they had very different grounds
for their opinion.
The dealer IN exchanges told the denzcn of Pearl
street that the merchants needed the bank to supply
them with accommodations that they wanted larger
credits, more liberal discounts amper facilities for
carrying on their business and these a national
bank would supply. They had been much oppressed
under the sub treasury system, and national bank
would set them on their feet again.
" No. replied the merchant, ." il is not 1r that
purpose that the country wants a national bank we
have credit enough with the local banks money is
plenty, and good notes are readily discounted II
more credit was given IL would only prove a mis-
chief. Nosr, 1t not for the sake Of granting accom-
modations to the merchants that bank IS needed,
bat for the sake Of creating a uniform rate Of eX-
changes between different parts ofthc country"
-" Allow me" replied the person who had first
spoken, allow me. SIR, to tell you That this notion,
about thc uniform rate Of exchanges IS ai Gclus
The actual price of exchanges between different
countries and different parts Of the same country
must iluctuate with the course OF trade, and ought
be allowed 10 huctu2te, without any attempt 10
produce m artificial uniformity The hjgh and low
rate of exchange Is what equalizes tic inequalities
oftrade. EXchange may be always had at what 10
a
TEN o. selling it dearcr or cheaper than its actual
value it does HARM because il conceas tie true con-
d.ton OF trade from the merchant, who must c0n-e-
Queuily do business 1ludiold and without under
standing where he is in Danger.
Ths is the report ofan actual conversation winch
lately took place, aad il sample o tue d,cord 4nt
opinions which prevail in the wing ranks ON tae
subject of national bank. The members of tAat
party have been told by their leaders that the c3un
try needs Il bank, and many Of them believed though
they puzzled 20 tell WHY. Set them To talking
about IT, aud the reasons contradict and rcuic each
other. The truth is, that nobody wishes for m
tional bank except few party leaders, who would
be glad 80 use il S party engine, a few blind adj
hcrcnts of theirs who think "a they are bid, few
spccu aors who seuseess enough To suppose that
a bank would help TO rebuild their broken fortunes,
and a few well meaning people @. that Class who
never uucarn an old PR Idlce.
Even the uaiacky Spectators, set Of men fer
whose misiortunes we arc sincerely sorry, though
their case is as much beyond re.ci broken neck
is beyond the help Of surgery, are beginning to sus-
pect that national bank could do nothing for them.
We have I'm our eve person If this class, who lad
bought and sold, and given bonds and mortr yes,
and taken bonds ana mortgages, in i-.7 aad 1855.
till he had built up what be thought princeir for
tune, ard who had met WIKI the usual fate 1T the
spectators q tha. period. As matter Of course
he went over 70 TIE wing party aud previous T. the
lltc election elcctonecred f. Harrison, travelled
.
change of times, drew coque.t representations q
the happness and prosperity winch -wated the peo-
pie when the VIII IS should come into power, ani,
no doubt, actually persu AIDED himself that change
Of administration would make han the rich man he
thought he wls i'm lS2G. Where is the change Of
times YOU promised us =. asked one of has acq lain-
tances the other dpY.--' th. sac the crest-la4,eu
politician, a. made "a terrible mistake. tAaaglt
that new ST., of men at Washington would put back
the country where t vas in 1850, bat / see 10y er-
r1r neither they, nor anything they or any body
else can do wlll have that effect. made fool OF
myself; am heartily ashamed OF il, and sh1ll med
de with politics no more Hundreds OF this mans
class are coming to the same conclusion reluctant
w. 10 be- sure, but time and experience force ,ae
conclusion upon them
The truth IT, that the bank party is a very small
and very weak minority. and is growing weaker
every day. Thousands who have allowed them
selves to Be counted among that party, w.l aJo.ce
u their hearts the gy-bE given 80 The measure
The bank party no longer includes MAJ lrty ot
commercial men az lt once d.d-commercia men
who are in safe and prudent course OF bus ness
are afraid OF it they dread It's disturbing influences
they lock upon its benefits uncertain and It's ms
chiefs sure.
some OF the wing presses assert that the country
will not bear another veto from Mr. Tyler. 50 Tar
is this from true, that # fifty different bs prop9s-
ing a national bank IN as many different forms we're
TO be passed this session. Mr.. Eyer would gain adj
dtional popularity by every veto he should pat "p-
on them WIKI every bill sent back 10 Congress us
friends would become more numerous, and tae Iuf--
nation oi tAe people against those who are feNtng
the pat euce OF the country with their pec..c Gus
schemes. uould become stronger.