Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-12-31

The subject OF Banking is, at this time the most
important and exciting OF those which engage and
perplsx the public. l. may be called indeed the d4y
o. bank projecting under the boosted name of hank.
reiorm-whIst, from good or bad causes dIficuI.
ties oeset US on every side. Ignorance and preiu-
dice have, doubtless idone their parts and con,ribu
ted To throw difficulties and troubles in the way
While are, therefore, the friends OF banks as
ful and Indispensable institutions, we should eau
uOusty guard against those evils which may result
from ma. administration, either in Il bank or is
branches. In The prcSen; tisIoinied state of the
times, while embarrassment and disorder in curren
cy pervades the whole land, much, very much, dc
ponds upon the prudence aud wisdom of those " no
control the operations OF these institutions The
duty end responsibility OF looking this muster be.
longs To the Stockholders. They make selections
OF those who control and manage our banks and
never were they called upon to look more cautious
y to the character and qualifications of those whom
they select for this important trust.
In large cities, where the mother institutions arc
located, less difficulty arises in selecting men OF
skill, integrity and Inteiligence-but in smaller
towns and villages. in which most, or all of the per.
sons TO be appointed TO a D eclory are unknown 10
the stockholders, much difficulty may arise. and IN
some places Of this kind those who have the most
TACT or influence, procure the appointment of n d..
reciory, on; ol whom, President Is 10 he chosen,
Of those IN their favor interest without regard 10
qualifications or fitness. Al all times the Stockhod-
crs should guard against ImpOstions which may he
prdclsed IN tins way. u Is often rcproach cast
upon uIahCl Dlnk, tUlt men OF less than OTtIna-
~ me lEcnce or information are made Directors To
direct and supcrncni IN institution winch involves
the interest ard property Of community. Althis
time, however, when a certain class OF men, who
iniest all small towns arc growing rich by taking
advantage Of the enhancement and mIsfprurcs ~
the times and 1cqu ring the sordiJ yet effective IN.
huehce which wealth give 70 ITS most ignorant
and unPr3uclp.c posscssOr-whcn those WHO are
den0minaied, IN suc1 places, Snavers are ASSUMING
caste almn5; as distinctive rs the Gambler, and
simulated by their successful FRAUDS and ILLEGAL eK-
actions upon the embarrassed and unfortunate, are
aspiring to the full and unrestricted control Of the
Woued operations Of their community, the Stock.
holders should feel themss ives called upon, most
carefully, 70 look to 10, and that none Of this
class of men are appointed TO i the Directories OF
our banks. That they seek places Of this kind
Nth view 10 their own personal advancement, is
p1.pa''e, from the general character OF such men,
ana ne iict that no salary IS paid to a ID rector
WINE lhe Tecunary Advantages to them are great
Place them IN the commanding position OF a bank
D.hcer OF Director, and how immense y does il In.
crease the extent and facility Of thei. operations p
ih'y can then command more rapltlI-thay can
sec VINO o'c pressed, and most easily, by some con.
VVinee' OF through partner or agent, turn The ne
ccs'ilicS %! those seeking aid 10 fh.r own profit
/ II has been a'rdgcd that a mere DIrcciorsbin in
some Of ite Northern banks was worth more ib,p
tho Sherfl'y ofOur Iirgc,' counties: rendered pro.
htahie ~ me operation OF shaving and the usurous
/ CX1cions inflicted without mercy upon Tho l.s,,.
.
some OF this class arc cooperating yyh clcb o,bs,
and operating upon others, 10 urc0mpi h such a
design, and gain the asceud1ncy IN some banks. i.
at c1stlearcd w many. To the Sf0rkbodc,a NJ
the Farmers Bank would appeal, IN the name oC
the community Of Dlnvlle, % see that n ru,rc h.
not inflicted on that place by the appointment Of
Sn1yets 10 the Directory " tho Bunk located there
They have succeeded heretofore IN CpIstny in soroe
OF Their clan, but not enough 10 control the Dirse.
tory Inc design ls suspected, and Tor good rea.
sons and The arrangements nre supposed 10 he max.
Ing 70 throw that Institution into The berds al SD,
ycrs some Of them notorious and professional ST..
vers who have not one qualification fyr us manage.
. mcnt
! q charge, founded rather in prejudice than fact
mas been made, that MI Blnks arc Shaving Shops
Let gli one instance be presented 10 which Shaver
AMI Jsnrcfs have The osceudancy at the Board n
any Bank, ana such IN institution must incur IN,
. hifco ana dIs'r1si Of the community-and all Jnnk
! PARTICIPATE, however innOccntly, IN the prejudice
Whie wo admit that on honorable and iotsliio.n
? m'n may buy paper and Iodn money at usury, wa
os'eri, as general rule, founded upon oil e1peri
tneet mat as class, they arc unfeeling selfish an,
designing, 1nd could not be placed in he c,,,,o,a
lng position 0i President, Director or Officer Of ,
! "nnk without injury 10 The institution, ard IN
. inensc d.s'fcss, at a time like tho present 10 an,
]. community The State, individual Stockbo.dsr r.
ana lhc whole public are concerned in this rn,ur,
l. ana would warn the Treasurer or Goyeroor. vb,
may cast ho voice Of the State in the selret,oo q
Il Directors and the Stockholders, that az least IN on
% institution we orc threatened with designs Of Sba
. ycrs nnd Usurers, and tlut upon Their action vi
r. uepehd The success or defeat Of them
70 ONE OF THE PEOPLE.
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