Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-04-21
's' fss!, THURSDAY MORNING., ApR.s. ~. 1912.

years msrule under selfish and pruhipac atministrs
ions Their representatives In Congress set themsolv,
Ia work with steady diligence and hearty devotion 10 II
store the country But this labor required both time an
energy. The adaptations which many years had pr
anecd could not IN moment be rolnstated and ha
he HE OF the amented Harrison been spared. with HI
Jealous cooperation. year would have boen but
reasonable period 10 demand Tor any cllcctual ad
vance IN the work Of renovaon but from his success
sur nothing has been met hni cold and insinccre sun
Po or open thWarng and opposition, W hc, therefore
The President Is allow ed. by hs exercise of the veto
lha' oNt Man Po"rR of our system. the ne
tle and control The will of the people, and the State
speaking through their proper Representative, how II
lhe present posture OF affairs, responsibility lustl,
nest upon the W higs IN Congressl II should h,
9orle IN mind thai the Wing party has been. IN fact
aa' one short month IN power, or since the death o
Harrison the head OF the Government has not acted nm
der the Influence Of Nhg 4ciplcs-las even ds5un
Ell Tue name at W he. and has used and using his
sllniIoal power 10 prevent the action ol The hes io
TIE rtliel 81 the country. In one word then- to,
He public debt. the arrangement OF the currency and
the distress olhc people, the Wings are not responsible
because they did not produce them, but found them on
The accession 10 power. and they would have removed
them with the operation OF the President which they
could not obtain, aud without which they could do No
thing.
Among the TOPICS which have becn and are most
fruitful oil defamation with our opponents is the
bel ui bauks, aud the amount OF hankno capital IN the
mcd States. They seek 10 hold the " hius reapnnsi
BILE ior the undue Increase and misuanaer ncn of the
Banking capital, representing them rs the advocates Of
nnsonnd and dishonest Banking institutions. Never
WAS charge less supported by proof capahl, ui
complete rciuiation. The doctrine OF The Wings has
Yer been that paper circulation was 10Th udyana
geos and necessary 10 the country because share
a the specie OF the world Is entirely inadequate in
mount to our wants. and because an entire specie crcu
laen IL. iram It's bulk and weight. announcement and
Troublesome, aud from lis constant waste by friction, Is
! 3farly diminishing III amount But they have ever
maintained that Hahing lnslinil"ns Ia supply this pa
per ctuallen should rot tie increased hey nd the nc
lnl necessities OF the eaun f-shold be created upon
irn basis ii specie aud pmpofly, aud hy wise laws
July restrained ifom eAc'ss aud nlsnanagcneni. aud
VIII thus doctrine tic practice ct the Wings Will lc
lehhi {" he''s "5resIsudtd, liGW IS /, with our oppo-
iheas 1helr the5f, as tga5lt ihr IT. lrry III ey-
elusive Land money omltney Dmlnp institutions
have been the theme Of their unccasne denuncalion
\ et huW have they acted When III possession of
power. what have they done reduce hrr theory to
practice Let us enquire Before they came into
power, II is undoubtcd HAT had gool curroncy-
Every who remember tho state OF things twelve
years aao knows this have been the fact The cnnuc
IN the condition Of the cuunlry-iho increase Of Banklnp
capital. beyond all The reasonable demands uihus,ncss
and the consequent depreciation, arose from their nd
minstlaiion OF the Government, and they stand Justly
responsible Tor the consequences IN the year 1880
there III the nit,d States $50 banks with ng
er,gatc capital of Sli5l9D.NS. In 1882 the bill To-
fecmrtcr the Bank OF the United States was yeio,d
and in ls33 the government lcp,stcs were removed
from that Iiauh aud placed with tho State Bnus thence
ufW and. the state Banks cnoycd the favor Of the Adj
mlnsuatol-Wcre applauded safe repositories OF the
revenue aud capable Of furnishing sufficient and sound
currency Tor the country urged by the then Sec
Rotary Of In Treasury In increase their leans. enlarge
then circulation, and furnish every facility which their
accommodations could furnish 10 the mercantile cunlnu
ImiY. At the same timo banks began 10 be multiplied
without necessity and beyond all eNamplc-N iihn
less than two y,als from tlc removal o the depuScs
the banks were found 10 number %" with an aggregate
capital 81 &.'3l ZJ0.t3i. Aud IN December 1857, the
number lad increased 10 10 with an aggregate author
zed capital 81 Sll0,l.1,llOi so that the Banks had
doubled and the capital more than irbIcd IN years
Now where the greatest increase IN the number and
capitals OF these Banks Was II III States under
Wing direction Or was II IN those States which
oycd the special benefit of being governed by Iocoioco
Legislatures Undoubtedly in the lattcrLct us take
as examples and proofs of tins. few States distinguish
ed during that period for their attachment 10 the Loco
oco party. Take Maine In 1880 she had i banks,
with capital Of S205O,0o IN December 1857 she
had 80 banks with capital Of s. .5}j,o0o. Take Penn
syvana. In 1879 her Banks were 81 IN number with
capital oi SlI,OlO,33 III December 1887 the number
had increased TO 30 and the authorized capital 10 80,
I9ll ,l3o. lake Alabama, which III ESQ had Banks
with capital OF &bl3,JpO and IN Doccmbr lS3I had
Banks with authorized capital Of .i5S 9, be
ng increase Of g fold in seven years the Bank cap
ial of the State Take Mississippi, Whchn $50 had one
bank with capital Of S95o,oOD in s6, II banks and
- branches with capital Of 1900 600 being in
crease oicaplta inseyen years oi1wHtoM Take Nilsson
II. W hat was the action OF tins State represented and
gorcmcdby Mr. Benfpn the very personlcalon Of hard
money who processes to hold Bank note IN abhorencc