Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1841-12-14


al D 10 he hoped hat 70 MA, vet be accomplished 40
N Instant day, tia small graiual ma regular eur.
lmeni at discounts uc rag lily cniurccd against a,
Tao Customers OF tuc banks A re.um l.il.l ot SOC.
Gao payments 10y al our institutions which shall As
permanent nnl cilcciuai h.; "a doubts most ardent
" desired D. the great bcly IT the people BAT
surrounded as wc arc ~ other institutions beyond
our control. ana placed IN condition cauuoi ca
trely prevent. a becomes fuaticT 81 sfayc oousiI
/ es1u"h' whether the requirements Of thc charters
OF iae charters oiour iu.liulious shall be- rigid
4 ~ enforced. or further time allowed thcm % pre-
pare Tor resumption. A. tie pcruj VIII speedily
arrive whom the rclCi heretofore extended 90 thea
viii expire, this qacsiuu will no Golbi atiFlri u
once the calm consideration Il ihc General A,-cri.
Oily. In nrriNing al correct decisiOu, duo fc-nrI
should loo had 10 the past as Well 90 he acgI.
state oithins7--,hc cuaditri of tao bauAs ual ilc
business of lhc county Tne whole ua'ira ls yci
suffering from the hanciul effects Of oNgfirI...'
lovcT51ukns. and ilsir insCpJrdblv cpu,Jalii''' &"
dis0rdcrcd rurrvncy. Wj speculation Cu! cara
yaglnce. the natural cons lqcnocs ct 'hs 'mug'-c
accommodation sff',icd by banks whose c1rdiy
seems in have placed NO liUi; % their 5u's nave
been attended rs usual with painful fc1cUon.-
Many ofthc State Governments. ,ro, hare contrib.
utcj in no small decree 10 thc embarrassment of
the times by apt. prliioDs % works OF internal
lmpr1v cmcnt u iich could unly hc met by conirtc
tang an imucnsc f,fcicn Gcbl which bas mlicnaiiy
affected iio siaios ,f OuT iOreign exchanges ~ VIII
require time q alny the agitation @hieh mas oeen
proiuccd by these causes. Tao l,ss7ns ol eh pert
cnCc they hive taught a j. 10 Dc hcped ~ii be O.
msuhcrvd. Ia the mean iiure ~ rocupcrlii,c en-
Crgy OF The people wall te,A 70 restore a more
hcli,hGl condition Our l,-ilSs unSi feel The b.uc.
fetal effects ol such ch-fge anti u prudcHily man
AGED may suuu place themselves m al imPrcgn1h.c
position n slaalI &C remembered That the Bunk
oliue Uniio,l Sics has iiu3'scd our state banks
81
heir sIsbs,-s than m. shI Otherwise have boon rc.
quircd Tbs accommodations aH3rl,d the CO:n.
moai .eaIsh in loans Q" meet the pUlhc cNIr"ucics
BE- also cuniribuied To prevent the contraction Of
lae eiFcuaiiOn which 10 should bc their object o.
eheet Cndor existing circumstances II would seem
cNpedieni % oxIcnd the relief afforded by the act
OF The 18Th oi Mar last. hm,ieI, however q a
period which, while Il may afprl dHc time Tor r.
sumption. will precuJc the idea Of future mlu'
genre Whatever your wisdom may nm lie !, h.
essentially imPorta"i 10 the credit Of m. bank,
'nen~e'Nes' 10 ihe interest -OI the Comm luWcallh
uiu 10 restoration Of a sound currency, that care
Hibe taken hat another resumption be not sci.
lowed by another suspension Of spccic Payments
u conuoI be deucd that the reckless course OF
many ct the hlnh, throughout the county AMI cs-
pccially the lato BluL of thy Dated Sae- has had
iho cuect tot ONLY ur weakening ihc public conf
eHcc an all such Institutions bat uf creating sirons
prejudice against those whose aiius have been poJ
pcs.y managed. Il IS generally aluucl lhtt tar
whole banking system ryI aires reform. bot sound
policy dIrJIJcs th9t no harsh or Nu,glt remedy Do.
resor'c'i Co.. such restrictions should o.. imposed
rs experience has proved necessary, gnI sash r-l
-Jnlblo du'gcnUirs should b., extended as iac ual
lac Interests may r,quirc. Tho iUfeilure OF the
charters Of these institutions IN most OF the States
WIi greatly facilitate the reform which Is 80 much
ncuicd 70 is INDISPENSABLE 10 their Wholesome r..
sili.nn thai ihc stale slHull possess sIlU.1ry CON
lfo over The issue ct their up,cs. Bat this control
oarut be Ciiccu1l while the Interests OF jhc state
as q siCcN holder arc identified with Jhusc of tie
banks Whenever an entire separation 1T ,bts, 90
icrcsis can b. effected, tho iITyr wall De- more u-
dependant ~ cNaC'!Ug. 1ud t,p latter more 'l.gu,
~ avoiding penalties which Iuly Doe iuruur.J ry 70
violation ui 'hcir charters. 10 lhis hc true cd the
STATE government u Is uu less t,Io ct lgo FUdsru
Government To n,suciIi, thar government a, 1u
equal paginrT with priyai be chDjcss is o. d-'ct
t.ain aud degrade high and 5csprueiMc position
There IL m"rcJvtruO WGgraLi 10 i'sa Itdcs.l ,'Ju.
s'iiIIiun or Tie llCcI!"H OF money from rhs loppl
u be loaned uut 40 interest, through UC-. Drsi.l
agents 10 iEres 1us.hlc individual But 10 isu anal.
lci Of history hat lhe frIrarrs OF thIi msuCmcu'
'ilci 10 adHp; any Of the propositions which AcIg
siMnIled 10 invest CuagrC., with Nl7 power co.
cSraIIns corporations. A21u lsUm these J1ssler-
uiIJHs lhc iu,upcmhc objections wh.rh have ever
been entertained by large portion ct tlc Auori.
can people" either upon ac gr1uUls uf constitution
ally or OF cNpcdicury. shYulI forbid the exercise
~ Congress ui lhc power tJ incorporate bank. 90
10 establish cprqoElious either iJr fiscal or other
purposes. The opinion Fn,ius rD be- gaining rs1uId
Itai such an institution Is uuI Ud.s yUsils 4s &C.
sTIaJr "i The carrcecy and That ias fiscal alir, of
Tie nation may be conveniently managed wi'h1ut
rs scarv. IN" CuEluct oiluo late Bank %: lhn
United States, which las proved 20 rnurus Co tha
country. mi 80 cOrIuptiug aud dcmpraIliug b. o.
FHI .HaF... Ill
" strengthen This impression Al increased ,irCu-
1iiol Oft precious metals is Indispensable {,
.'Ind currency. To atilIn this object. aud o. im.
irovc tho currency throughout Ihc Cuun. 70 be-
'omcs The impCrlous duty uG each member % ibe
'oniederacy. 10y proper regulations, RICHLY snl FER
'oveTncly enforced u reform IFS bluhiug insliru-
Inus ard - enforce a speedy resumption OF specie
payments on "a durable basis
The attention OF The Legislature ia respectfully ig
sitcd 10 the several acts Ut Assembly. which G.rcci
Iha The notes Of our Silc BIuhs shall Boz received
To- plymcut of taxes and dues 20 The Commonwealth
urd which prescribe the Authority q Ilo Executive
10 relation % the dcposijrs Of The pubc revenue
iAe Elnk 81 Virginia and the EumuIs' Bank oi Nir-
fi"ln. The dCpsIurts designated hy law, have both
refused 10 receive on genera! cot.Its lhC NOTES OF
the North Western Bank OF Vir.iua and the higr.
chan!s' ana M,r,h,ui.s Bank Of Whcelmr. They
assign ~ The reason for this refusal their inability 90
make any satisfactory arrangements win the Wheel
ing Banks Cor lhc redemption 90 exchange Of their
nuies' and The loss they must consequently encounter
The failure CD The the part Of tho dcpusuu banks Co
receive these no'c7 and their depreciation n the cas-
tern portion 81 the Stale, which may De partly uiiu.
hulablo 10 That cause induced on application Go the
Executive from the sheriff of the country Of llcur.
cocithcr 10 direct hat the nare- should not De rccov
cd IN payment OF The puhic dues 90 thtI she places
OF deTosiie OF the public rcvcuso should DC changed
The correspondence uu dis subject D. herewith com