New-York tribune., 1841-06-12
4 NATIONAL BANK.

Tbo ave some facts connected with the history Of this
Country which, while they beyond dispute and well nsh
crnablc 10 sopistry are in danger of being forgotten
overlooked from ,hcirvely noorey Appealing as they DO
directly 10 the comnon and right reason OF the Fco
le VIC cannot consent that they be ovcraid at this time
We therefore briefly reproduce them
From the close of our Revolution in l7G2-3 10
l79-eight years-wc had no National b2n' OF ln!
cantra agency for ccctsg Exchanges and providing Cn
form Currency for the Government and People during '
;od there were very few Ranks in the Counuy-iadeeS
scarcely one-and the depreciation OF the Government OF
Continental issues had dscredicd all Paper Money wha
ever That period Loco-Foco Mlemum' and II tle
doctrine, Of Benton Gougc & Co sound, ii should have
been one of uncqualed prosperity Yet history uneq"'V
cov informs us that the direct contrary was the iac-ha
,brougheu, that period the Of convenient, adequate
C.rrencv was every where felt in the paralysis OF Enterprise
The Encouragement and decline Of Industry and the uni'r-
sal prevalence thriessucs, bankruptcy and pecumafy
suffering
Al length National Bank established; and instantly
the whole Country felt the genial impulse. As ii by magic
Industry Enterprise Commerce, started into life and ac-
,v;,v sound convenient Currency and cheap Exchanges
were the foundation OF this electric For twenty
eor ,hrough foreign and domestic Observation-Disclosures
and Wars in Europe and the Embarsoe and In
surrccons a, honc tha, Bank steadily upheld the National
Credit kept transferred and .sbuscd the Revenue with
ont the loss of dollar the cost OF cent, and Afforded
Circulating Medium of par value throughout The Inion
During the twenty years of existence, the National Debt
was steadily reduced till 1t nearly eNtingushsd
2 Rcchar,er of the Bank defeated IN 1871, through
combination political and personal hostility The House
was in it. favor and the Senate divided the CASING vote OF
h Vice President killed it. Three years from TIA" 'ay saw
tho Currency again deaauged and depcciatcd the Banks
, - INV specie for their notes, (thcugh they had found
isc,y while there was a Natcna Bank y 4 heavy Ma
,iona Debt rolling up with ghttu rapdiy Pubic as "eii
as individual credit prostrutc in short Chaos come Hgn
d Party spin, cast aside and the tested afl'oNe'
-r,o5 r Currency disorders again rcsored to. Ma
;;opa Bank was charcrcd and soon the struggling shape
1oss elements began TO resolve themselves once more INTO
form and order After temporary check caused oy ' H.
onocy of the officers first selected conduct the Ba II
was fy organized and entered upon The discharge OF Us o
mes The local Banks gradually steadily brought BACK
70 Specie Paymcu,s the National Finances once ,e AZ
sumed eal,hu aspect heavy Public Debt was funded
and steadily reduced year by until before The charter
expired every dollar had Paid. Again tn Reye-
nues of the Government, collected transferred and dsbused
in the equivalent Specie fer years-'a all about
three hundred nions-wihout the loss or the cost OF q
dollar
s. Suchwas the condition things when Gea Jackson com
menced his experiment Of improving the currency by
DESTROYING the National Bank pebc Debt reduced from
owe. one hundred millions rapidly diminishing fraction
Currency and cquabc than any other ror-
,iop Of the world has known; Spece Payments every
where maintained long Of years Exchanges UNI
form beyoad precedent and PAPER Mcdux equal in value
70 coin in every par, OF tie Country. Five years OF e>pcli
xsn from the Veto 1882 sufced change all 'h c de-
,anse.er obsrucop depreoaton bankruptcy and sener-
a distress The sun OF CURRENCY System tcag destroy
ms midnight darkness settled upon the face OF The
Country.
The magnitude OF the evil has at length wrought in part
c,c The architects National ruin are overth'own
The .teaaa., opponents Of the experiment and 'Nele"'S
s called by the People the conduct OF the Go
vernu,er, What shall they do We say un'esa'insy-
G,vE TIE CouxrRY 4 NATIONAL BANS: She needs II
expects it-desircs ii, Deliberate long and earnestly oeon
the details every mans suggestions, with firm reso-
luton that hc Bank be created shall be the best ever
made Snd that advantages shall and be iet By
,be ,vhols People But the point let there ne ne
aopb no hesitation. The dropping. uarcwased Inii<irs
the crippled Commerce the rros'ra'c En'crse the d.
,op,d Cu.rcaey ri the Country, all require National Bank