New-York tribune., 1841-06-19

% etabl;sf Uuifor. system Of Bankruptcy the present
SESSION.. On this decisive motion ;se yoe stool
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How would Ban,,rur Law te likely to :are III Loco
Foco House
THE FISCAL BANK AS a MEASURE OF RELIEF.
Il is not perhaps possible 20 conceive ay thing tie Va:
of Legislation 30 permanently and mportaa, II
every point of yiew. the great Of National
Bank, nov pending before the Senate Of tie United states
and s, there nothing tie whole circle Of tie practical
sciences so irnpeeciy understood and about which there
great diversity OF opinion among intelligent men There
are doubt fifty thousand this c7uEry all ofwhom
have scheme p:oiec. for Naona! Bank "hich
each deems the best that could be devised and in which
,,ro Of them agree Matter itself infinitely d.
visible than are the opinions OF mankind the subjects OF
currency and banking Il j. therefore b. expected
that any plan va,eyer .rll be popular with the
o-ity OF the people theor nt; it advantages and
utility have been tested By experience For the same
son. no such measure can be carried through Congress by
the force Of party alread perceive that individuals
Of the same political party differ widely with each other
onv as to the subjects that should be embraced in the
scheme bu, also as to the effect, DO produced b. II
the present scheme OF the Secretary the Treasury adopt;
Cd il viii be because the plan and the provisions sup
posed 10 be les, objectionable than those o previous nstitu
lions Of the same nature but especially because the
situation OF the country nperiously requires measure
OF the kind.
The eject, TO be produced By adoption of this any
other plan OF similar a-ousy estimated by diff
erent classes Of persons Some appear expect that ii Will
raise the value Of real properly the rce Of la36-'a' all
kind. Of stocks will risc to their par sall-hat unlimited s
Dir abroad will be rcstored-tat the merchants oycrirade
=. much Is hey please and that the Banh ought be COM
need 10 nav their debts the sacrifice OF selling rs
oun bonds at discount in Europe raise the noney Such
pecati.ns and peculat;ons or absurd and rdc
uou. but, if it believed generally t<at such would be
The effect of passing the Bank nineteenth, Of the people
would be- opposed TO it, 1t not, people would
really seem TO suppose designed furnish immense fund
~ the public expense hie any body aPp for money
10 pas all ibeil debts But according impressions,
the effect viii certainly be facilitate the fiscal operations
of the Goyernmcnt-to equazc the exchange AID the
rency throughout the country and tha> the
sacrifices that are now radcto the value OF State
stock and the stock Of all yelmanagcd Bank and other
institutions. eventually up par-;o check the downward
tendency Of the price of real estate to keep where now
and IN most ca ;es to raise yaueand consequence
m these things the value OF labor generally bv the
restoration Of confidence and credit between the business
men of all and the capitalists These or any one Of
them are certainly sufficient inducements favor the project
The consequence Of continuing the Sub Treasury System
viii be 10 rerpctuate all the difficulties and distress that
exist for series Of years Under it no immediate
relief can be expected to any class but the contrary,
The present s,agna,ion OF business continue, and fur
bc depreciation of all kinds OF property especially OF all
e, e.,n,e is inevitable No doubt the ccuperatyc
rc of the Country would finally the obstacle but
moi until all kinds Of property had sunk much below It's
,c,,, cash value "a, it was above il in 1886 Then
g, naturally expect another initiation Of prices accompa
v another system OF fictitious credits and
tive rcpetiton Of these expansions contracon and revul-
sio,s j always to be expected ons have paper
cnrrency entirely under the management OF private corpora
lions ,hou, some powerful be devised that
mo-, snIy ha, the power but the will TO limit and control them
Subj Trcasury without entire specie currency Is an
anornalsus absurdy; paper currency unless 1t can
be controlled bv the Government. And is def
pt settled tha, the people Of this Country will not abolish
the State Banks nor dispense viii, paper currcn'y fol-
lows Of course that the Treasury ought be repealed
and Government Bank having the power regulate the
currency Of the State Banks should be established. The
project Of the Secretary appears promise fair to accom-
plsl the object all hold to be The duty OF
Congress to try the experiment.
Los, OF TEE SANso>.--A slip from the Boston Atlas
states that . passenger On board the ship Samson Captain