The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1841-04-17

revoke or annul the same," when found in
furious to the citizens Of tie Commonwealth
upon the terms OF doing no injusiiceto the
cofporators.
These are the principal objections to the
form and details Of this bill, tha, present
themselves 10 my mind; and in addition to
these, there are others, which would render
this bill, as measure of relief, either TO the
banks or TO the public, wholly unavslling.
have retained this hill without returning it
to the Legislature, almost to the latest period
when could do SO, with the power of re-
turning it with my objections, for the pur-
pose OF ascertaining, if possible. the views
OF The most elighiened practical business
men in The community, in relation 10 its va
rlous provisions; and | speak advisedly
when say, that if this bill were to become
a law, it is questionable whether one tenth
of the banks of the Commonwealth would
accept of its provisions. Indeed | can
scarcely find among either the friends or the
foes of the banks, or among any party, not
wi,hstanding The exent of my intercourse
with the citizens of the Commonwealth
from all quarters, any intelligent person
who now believes that this bill ought to be-
come law. When il first was presented
TO mel examined i; in vain for single pro-
vision which promised either 10 give relief
TO the banks, or TO the people, and feel
strongly fortified in my convictions upon
,he subject, by the coincidence of the opin-
ions of almost all practical persons who, so
far as know have expressed opinions in
all quarters Of the Commonwealth, and en-
gagged in all pursuits of life.
The present condition of the banks &the
citizens OF Pennsylvania is calculated TO ava
ken our most earneslScserious consideration.
With an ample amount Of resources to meet
all their liabities,& with the assurance that
those resources are hourly multiplying, our
pecunary affairs are surrounded with en-
5arrassments and difficulty, and the inra-
bodings of many, for the future, seem to
afford little to cheer or encourage. do not
myself believe that there is any real ground
| for the despondency that seems generally to
prevail We meet siehl revulsion of for
tune, and without waiting to estimate its
true extent, are seized with panic and ap-
prehensiou. fear that neither the measures
adopted by the Legislature, nor the language
held by MANY Of its members, is calculated
to dispel this panic and apprehension. 1t
! is one Of the incidental evils of a govrn-
ment like ours, that not only the condition
of the public, but every action of those en-
trusied with the government. is liable to
innocent misunderstanding. or to interested
misrepresentation. The instant Sigh!
disturbance in the prosperous business of
fangenant Of ihe general laws Of trade, or
from the mismanagement of the banking
institutions of the country, or from any
combination of causes, not easily developed,
it is seized hold of, and made a theme of
partizan defamation, against those who
happen 10 differ in their political opinions
from the declaimer. Truth is too often sac
rifced TO expediency, and the welfare Of
the public made to yield to the private or
personal interests of those, who are con-
teding for power BY such means as these,
is the public mind harrassed and disturbed;
business men checked or driven from their
ayocaiions; the resources Of the country de-
preciated, and the measures designed for
the relief of the people lhwarted, and rem
! dered Iruitless. What but the operation oi
sach state of things as this, could have
produced the prevalent impression that the
great aud substantial State Of Pennsylvania,
with her rich and cultivated felds-her in.
! exhaus.ble coal mines-her numerous fur.
nsces and foundries, was on the verge o.
bankruptcy-her citizens within the very
Jaws of ruin-her business men of all kinds
langulshing on the very point of genera
} prostration and annihilation 1t is true
that the banks of Pennsylvania have sus
pended specie payments, and many of he
. citizens have, by engaging somewhat tOt
, extensively in business or speculation, be
: come considerably involved in debt and EN-
: barrassed; but her banks, with possibly on
, or two exceptions, have ample means Il
t meet all the demands upon them; and lhos
. of her citizens who are embarrassed, witt
5 few exceptions, have abundance of proper
Y ~. which may not be convertible Instant,
: into money. sufficient TO pay all their debts
d but the resources of the entire people of tn
}, State, would almost in single year, iqui
o date all the demands that can be made upo
n them from abroad. Under such circumstan
e ces as these, communities must reguat
i themselves by the same general rules c
e wisdom, prudence and economy. which ne'
er fail to exiricate individuals from simia
IS difficulties. The substantial means of tn
n people Of Pennsylvania to pay of all the