Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1841-08-19

stsndlnR The immense tTansscliona q the
hsnk IL TIE purchase o. 04ehsnge. the
losses snstaiosd wsrs merely nomiusl
While in tha line Of diserust1 the sus-
ptnded debt YES euofmous. ed proved
roosl DISASTROUS 20 Ne hank aad The e0oa-l
'TFYS lie power 81 iocsi diseosat bee. ~
fact. proved 10 Be fruitful soOFee Of "a
vofiiism snd corruption, alike destructive
to the public morals and 10 the general
veal.
TIE capital Invested IA banks Of die
eoua. IN The Uailed States. created by the
States. a. this tiaae ezcesds ESQ. ooe. 00o;
and if the diseoaniisg 81 LEGAL paper could
have prcdoesd coy Beneficial effects. The
United States ovght1O posses the SQUAD
eel currency Ia the void; bu: The reverse
is lamsnis6ly the feet.
IL The MEASURE now under consideration
Of the Objectionable character 90 which
have alludsd2 Il 10 clearly 80, unissS BY
the 10Th fsodsmenlal article Of the llth
seeiion il 10 made olhoTWise. That article
il iG the lolloWing words:
The directors Of the said corporation
shall establish one competent ONCE q dis
count and deposit 10 cay State in which
two Thousand shares shall have been sub.
seTibed, o. mSy be held. whenever. OPoa
application Of the Legislature Of such Stale.
CongresS may by Law require the came
And the said directors may also establish
one or more competent OEiees Of discount
and deposit 10 any Territory OF district Of
the Uniisd States. and in any State. with
The assem- OF such State; and when esiAb-
lished, the said Office or Offices shall be
only WiiSdrawn or removed by the said
directors prior 10 the expiration Of this
charter, with The previous assent Of Con.
gresS: ProvideS. in respect 10 any State
which shsll not, at the 6Tst session Of the
lisgiSlature thereof, held after the passage
OF THE act. by resolution, or other usual
Legislative proceeding. uneondTiionsIly as
sent OF dissent 10 the establishment Of
such once or Offices within IL. such assent
Of the said State shall be thereafter pre-
sumsdi yAnd provided, HsrpTfAslsss. Thar
whenever IL shall become necessary and
proper for carrying iai0 execution any Of
the power granted by the Constitution,
Ito establish an Office or Offices in any Of
the States WhsieVer, end the establish.
meat thereof shall be directed by law, IL
shall be the duty OF the said directors TO
establish such office or ofiees according
Ily."
II will be seen thar by this clause the
directors are invested with The fullest
power q establish brsach in sny State
which has yielded its assent; and having
once established such branch, il shall not
Afterwards be Withdrawn, except by order
LOT Congress. Such assent 10 to be iuplied.
aud TO have the force and sanction OF an
hctually expressed assent, provided in
respect 10 any State which shall not al tie
frat SssSiOa OF the legislature thereof, held
after the passage Of this act, by resolution
or other usual iegisiafiUs proceeding, IN
eoRdIffonakiy assent or dissent 10 the eslab-
Ishment Of such Office or Offices within H.
such assent Of said State shall be theresf
ter presumed. The assent or dissent il
10 be expressed Internationally at tie frat
ssssioH Of tAs EfgisIafuye. By SODls formal
lfsgtStafirs act and II not so expressed,
its assen: is to be inplied; and the diree-
tors are theTeupon invested with power.
at such time thereafter uS they may please
TO establish branches which esnno; afleF-
yards be WiihdFaVn, except by reFolve
Iof Congress. No matter What mar be
the cause which may operate With the
Legislature, Whieh either prevents Il from
SPesking or addresses iIself TO iis wisdom.
to induce delay. iis assent is to be impli.
ed. This iron rule iS TO give way TO no
leiEeumsianees-it is unbendinR aud in
dsxible. II is tie language Of the master
TO the vassal--an unconditional snswer is
claimed forthwith aud delay. postpone
ment, OF iDeapaciiy TO answer, produces
al implied assent which is ever after ire.
voeSble. Many Of the State elections
have already TAKEN place. without an y
EnoWledgs. on the part Of the People. that
such a question WaS TO come up The
Representatives nav desire q submission
Of be question TO their constituents nre.
ParatoFy to Gnsl seton upon Il. bu, thi.
high privilege is denied: uhatever nav
DO The motives and views enteFtainsd BY
the representative Of the People 10 iE.
euee delay, their assent lie 10 be presumed.
and % ever a!ieTWsFd binding. ublea-
Their dissent shall be uncondi,ionally ez.
pressed 81 their hFsl session after lbe pas.
saRe Of this bill into law. They mar.
BY iofmol resolution. declare The question
OF assept OF dissent "a Be undecided ar
Pos'Poesd; end. yet, ia opposition 10 their
~NfaNe- eeNAAtaAun 70 me EQntrafV, theff
ss'eni - to Be implied Casss isnumess.
BE might Be cited 20 manifest The ira.
iionaliiy Of such sn iafssenee. Let eos
o. iWo " addition suHes. The popal.r
srnaeh Of ,hs Legislature may express ~
dissent by 90 unanimous vote, and iir
resoiulion may b defeated By ne vote
o. The Senais, sod yet The assent is 10 be
implied. Both branches Of the Lesisis.
tuve may eOneuF Ia q resolution Of Decd.
Cd dissent. and yel the GoveFaos nav
eEell the veto pnWsg eonfsfrsd % bin ~
ne State Censiiiutiou. snd their lsei,ls.
i've seiion b dsieslsd ana set tbs ~.
fsni Of The legislative suihofity I, implied
hnd TIE directors If this conismplsiee Al.
siHuion ere authorised 10 sslabisb e
ofaneo o. branches 10 such State uhsn.
ever taqT mey had q eoaducive 20 the Ia.
lsfsfi q The siockholdefs Do Do 90 and
naFinE CAGE established u. lheg esa en.
eef 90 eifcumsianees uiihtlas II. sreept
10y Get 81 Congress. Tha Slate nav snsr.