Indiana State sentinel., 1841-10-26

The STATE BASK.-It was remarked 10 us day
or two since, that the bank was loser by dong
no business. and that wrong urge the
bank to do that which, IA The nature ofthiAss as Mey
eIisfeG, would not only inJure 1t, but the community
at large Our reply can be anticipated. We have
neither room nor time To write out the arguments
used m full but IN addition, will add a few re-
marks having bearing on the question. We dIs-
agreed wIih our wing friend, OF course and now
We would ask, II cur Bank does nothing, how IT
declare the dividends 1t does IL Is well known
that but very few, if any, Of the common people,
the farmers and mechanics, get discount yet
II Is well known that bankrupts, 1--WE say it advis-
edy, unless II should be contended they are SWIM
diers, and particular fasorites, gel almost any
notes under protest. And admitting tins to be
Incoueci how can the hank ex ST. while declaring
these dividends, and paying some Jour thousand
dollars and perqulsItes 10 her officers to stand be-
hind the counter. t. do what Nothingi OR TO
smoke cigars Can the bank stand thls long Or
l. Il while III state of suspension, shaumg and
doubling is profits by negotiations bills of ex-
change, which profits come cut Of the consume.
To these things VIII allude again, when we
have space.
We wish 10 show the effects, or some OF
them, consequent upon the cont nued suspension Of
our Bank ior about lour years.
The writer of the money articles in the New
York Herald, is allowed by all parties to be one of
the closest observers and calculators and to give
more correct information that subject than any
other writer for the press in this country. We
make the following extract from his article of the
Nth inst. which will show some of the inconreniea
ces of continued suspension by our bank with
glowing contrast OF those places where banks pay
specie:
There was some drawing of specie from the debt
ors banks to-day for remittance, and the amount
shipped Will not be far from $500 900. This is a
mere trlfe, however, aud Will IN no wise lncOnve
nIence the banks, which overiowing with spe-
ce and must continue 80 To be, while the specie OF
the whole CnIon IS driven here by the rredeelna-
bic currency of the South and Nest. The people
OF those sections continue 10 prefer the deprecated
paper OF iraudulenty nsolvent banks To the
cy of the constitution. The consequence Is, that
New York, having superhulty Of specie, il goes to
Europe, because 1t Is more demand there than in
States where the community reject IT in favor ot
bank rags; at the same time they complain of what
they call high rates If erchange. Nearly sjO.OOo
arrived here yesterday from New Orleaus where
The people tolerate the shnplasters.
Now bank doing nothing! Discounting
good notes gives them prof only OF per cent. !;
but while refusing to pay her own debts. she pre-
fers To share aud negotiate bills of exchange at
much larger rate which is much better for itself
Farmers, mechanics, consumers of every class,
you are paying at least l5cents every dollar you
aud expend, TO the State Bank of Indiana,
while 1t continues a state Of suspension. Ii this
were a State tax you would not submit To it with
ont a corresponding benefit. VIII you submit to it,,
with no benefit, merely because it is not called for
by the collector, but drawn indirectly from your
pockets, to make the rich richer