Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-05-14
THE EXTRA SESSION.

The Gazette thinks National Bank will lie charter
ed at the Extra session, without any doubt Inns de-
ponds upon the result of the elections IN seven OF eish
States not heard from, who have the power, u they
choose TO exercise it, to the country from SO great
a calamity But whether they have had time yet to
recover from The delusons of the late campaign, and to
exert themselves to arrest the startling measures OF fe
dcrasm among US, remains yet TO be seen, ana we
have fears We confess that the prediction OF the ia
zct,e NAV be verified, although shall look to the
Southern members of Congress- with much hope at
they will rally yet in time to save the old Virginia Pr
ciples of 9S from being desecrated in the Nation "a
pi,ol.
But will John Tyler sign such charter: HIS past
life, his early opinions, his speeches and his vo'es IN
Congress- all say No. but his present associates, the
language of his party presses, and the mysterious CIV
ngs forth Of his late Inaugural, point nnhappIy
TO different answer, and may well lead the Democra
CIV 10 doubt anxiousy concerning his future course
lie will soon, however, he brought 10 the tes and we
pray that he may bear it in 4 manner worthy oil srg-
MA and worthy of his own former fame.
1t will be strange spectacle, II, at the very PERIOD
when the corruption and msmanagement OF the old
Bank heing published to the world, new monster
shall be created through similar course oil mad
ness and having ruined thousands of confding Victims
end like that hereafter in rottenness and disgrace
Whoever will trace the history OF the late Bank, from
IFS very beginning through its various scenes OF wild
expansions and rulnous conlractons, down to It's
change of form in 1896 and total failure in Isl must
community has been iearuiy bad and ought not 10 he
repeated al any risk whatever. They will that 1t
has gathered up the wealth Of the country and used it
To initiate reckless spec ulaons for the benefit Of the
idle to pamper worthless favorltcs, to unsettle all
cuar business, to demoraize the people, far pos
sible 10 level with its money worshipping ma
nagers and thus to elevate the poaeer Of the purse
every other power, political, intellectual, or mora,
throughout the land And yet with this experience
before them, the Federal party clamor loudly for a
Bank as il the people had not been ground down by
such an institution hard enough already and had yet
other millions sink in the gulf which las just
swallowed up large portion Of their aborous earn
ings
But they want it, they say TO ''rcgnate eIchanges:
| assuming that exchanges never regulate them
selves and that National Bank is the only thing in
creation that answer the purpose, when such an
oThe fact" says the n. Y. Herald, 'that for few
years during the existence Of the IT, s. Bank, the
changes uniform, proves nothing but that com.
binalon OF extraordinary events tended 10 produce
greater supply Of credit, than could for years
be absorbed in the regular Of business These
created partly by the yearly payments of $lo,-
000 900 on account of the National Debt, which went
through the U. 5. Bank the fiscal agent, and the
creation of large amount of State Debts that formed
the basis of bills From the creation of the u. States
Bank in 1877 up 10 le2s the exchanges in bad
q condition they are at this moment" With spe-
Gle basis, the exchanges may he safely left the
erring regulation of the laws of trade, which have
been prevented hitherto from having their free and
healthy action by the multiplied restraints which
have been imposed on them by the short.sghted art
| fees of
We hope National Bauk will not be chartered a