Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1841-07-01
NA.TIoNAL PANK

Comments 0R The Plan submitted 6y The
SenGte's Committee.
The Back project nov before the Ser
nate. a. reported by Iae Committee on
Finance. gives general satisfaction 10 bu.
siness men. so lar as we have bad oppor-
tRniiy TO learn their views Of IL.
In most Of lie features il is like the
last Bank Of the United States--some I'D.
dhional guards and restrictions Only being
added. the most important Of which Is
the provision requiring the publicity OF
the general condition Of The Bank, aud
rendering eli accounts. " whether individual
or otherwise. open TO the inspection Of
committees Of Congress. and the Secre-
tary Of the Treasury.
We may take il 70. granted that the
PLAZA thus suggested will be more accent
able 10 the business men Of the co0nirS
than the oae submitted from the IRE asury
Department. Whether al institution
preferable to either might not be establish,
ed on the basis Of the Public Land reye-
nue. institution thoroughly national,
and so constituted as 10 be able IN time 10
supply national currency, gradually dis
placing The is,ues OF local Banks, lis a
matter which we shall not attempt 10 dis.
cuss at present. The time for such die
cussiSn may come more OPPORTUNITY
hereafter.
With regard 10 the two plans now be.
fore Congress, x is-oot TO be denied that
the question Of power relative 10 the e..
l0blishment OF Branches in the States, in.
wolves an issue between them on an es.
sen'iai point. The question is one Of in.
terest TO commercial men because il sfscis
the Utility Of the institution 10 be created:
Il is Of interest 10 ell citizens because II
embraces 40 important constitutional doc
tripe.
A great majority Of the friends Of :
Bank conscieniiously believe, We pre-.
sumo. that Congress does possess the
power Of establishing branches ia the
States without consulting the latter Will
Il be fair ground Of compromise TO waiye
The exercise OF this power in The establish
meni Of the New Bank The National
inlelligeneer thinks So also the N. York
Express. The latter says:
Nov TO foFeeo the exercise q. the constitution.
81 power 20 establish Branches isnos 20 diseisim
/ nor 10 disoEu Thar power. If such we're The fac
the omission 70 exercise il would be a matter OF
graver dslibeTation but as long az the power
stands established By several judicial decisions
aud provided that no harm Wtl resui: 10 the
| c0unuy from is nor.exercise Is ID worth gbii,
10 give up every good, because we caanai b,
legislation, Ie-esiablish our right 90 ALL Al,
&c TO have ne Bank, because We cannot bay,
all The Dfanehes We might wish fore
The New York American takes III,
other side, and declares
We would rather, therefore Jose Bank, thar
yield principle sBd hence, We hold nndoubl
lingiy, that the expsdisni Of uying 10 get foun'
the constitutional question, BY placing The PAIeu
\ Bank 10 The DISTRICT, and askiBg TOE rsTmissinu
Of the States 10 sstnblish branehesi u NOS 60 B.
lfoanienaneed. The argument Of The Naiiona
lnielhseuesF On his subject. that non.usef q
Ia poeef Is not = surrender thereof - wbcil,
unsaiisiaetory. Moreover, u does uoi meet ID,
case contemplated = for here u u proposed u o.
the poaeF, bat only ~ pefmission of thnss y Do
aegpiding 70 The tue coasu ueiion, a. nc con
;seds have 90 Iighi either 70 giant % 70 Eiihel
ipefmission. - BsLinoyf .fussricaA.