Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-07-14

at the expiration of their charters went DOWN amid
storm OF pubic odium aud indignation, sinkins
millions OF the nat'onsl capital in the eonvulsiyc
struggles Of their dissolution aud ober,tn, for n
time every sense of the benefits they NAV have rem
dered to the country, IN the deep feeling of po,cn
hostility Of which they were the Object no avoid
the recurrence OF similar mischeIS hereafter the in
tuition now proposed To be created mus, he C,nnJ
cd on different principles. You mus, esp,c,,IIy
avoid the original SIN IN the charters of The Tue, e.
mer banks, by planting this on constitution rro,I
not liable to plausible objection, add by ,bs,.i,in
IN IT'S oTsan,zaton. iron any violation of the Sove
relgniy 81 the States, or gratuitous ocue, In S,,,
pride. You must change its character Instead -,
commercial, trading, specializing stock i,hL;n,
hank, YOU must make It what its mama ipn,,,s -
Fiscal BinS-chnrged primarily wrh thu coIIoc.
revenue but eSerting incidentally an mport,nt ,nd
sanitary influence on the general currency NJ Inc
country. In short, SIR. I would have il az ,n,,Lo
as possible, the late Bank Of the United St,tcs
"ou'u p,9h' OF the sooer suggestions ofsuch fnan.
ciers as MIR Gala'in and Mr Appleton. ,yho !,
their late publications the subject of the cnrrcn
cY, have land the country under laStn, obIiy,
to their wisdom and patriotism.
acknowledge, SIR, with pleasure, the many y,lu,
bic improvements and new securities engr,fed ,,,
on the bill now before US, by tho Serrr,,,y or az
Treasury, and by the honorable Senator fron, -
lucky. (Mr Cay.) With that distinguished Senate
heartily concur IN the exclusion from the h;II -,
the suggested application OF the i,h ms, n,pt s H.
surplus revenue oi 1885, to subscription for stock
in the bank on behalf of the States With b;n,
too, cordially concur in the propriety of cutting OH
by the restriction he proposes, the possibility of anv
transactions, OF II business character between The
Bank here and members of Congress or officers of
the Government A similar exclusion of the officers
OF the Bank-the provision for a larger publicity
IN regard TO the condition, operations and accounts
OF the Bank-tho narrower limitation than usual
Imposed ON the amount OF loans and discoun,s-nnd
last, though not least the renewabiity of notes
and other evidences OF debt discounted I
should have preferred much shorter term than on.
hundred and eighty days Tor them TO run)-aIl these
are great merits IN the original plan of the Secretary
or the amendments of the Senator from Ksntuckv
But yet one thns; remains Of infinitely higher i'm
porance, IN my humble judgment, than all the resi-.
TO conciliae the public confidence and support and
To secure TO this new institution career OF extend
ed, useful, and harmonious operation. Assert no
olious or questionable power in It's creation Do not
inpant IN 1t, at lis BIRTH principle of conestaon
and force. Let II have the free aud consentaneous
support of all the elements OF our mixed insitu
tions-of state and OF federal power harmoniousIy
blended. Thus and thus only will 1t become, what
all must wish to see It, national, and not party.
institution, shielded Ivy public opinion fro,, those
herce political storms. which married the usefulness.
and h"ally verwhemed in violent conyusions
both of its predecessors.