Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-11-21
BANKING FACILITIES.

BANKING FACILITIES
I i Al Old AMI ingenious device Of ohnlcrs. Of all
s5ris Ia syen Suspicion from themselves by crying stop
7airf when they can, hy thai shift, involve an inao-
cent pars5n the consequences Of Their msiceds 81
is ii with the inn tnaiiee" correspondent u the Lynch
burg II ,ndblcln who, suppose or the saae reason
that lie b5eh oil painter Wrote TIL, IS IiDsc' IN
dereaih his bungllug cacliafe, assumes the signature
Of Matter O'faci." Speaking Of tho editor of this
paper, BY nane the wrer says, lie has been panPer
ing the specializing classes with baakag facilities.
The facilities they g1t, the more they crayed,
'nn,l they have bccome well nigh broken down with
excess IN Tor they nave proved to b. excessive ia
ciinIes for running debt. And now, whilst suffering
hc penalties Of those cAcossas Mr. roer and his broth
"or wing doctors for turning them the tender
"mere.es Of great king baok,' pointing them that
"iJr reefo And this assertion is positively made with
grave face, ''matcr o fact, though the events
oflhe las: twelve years sealed book at least as
though the writer had himself taken cjpios draught
from the o5yious cup.
1t is true that 'the wing doctors" did oppose the
posiratioo Of the National Bank Or king bank if the
term be better suited to the taste Of our opponents
But elgl Was with the expectation that the renew
al offs character would increase banking fsiltics2 G.
Ia from IT, The Wig doci'rs,' as tier speeches and
writings SHOW PrcII't2d tia; Jne Of the certain aal
m'f 10 IL dlfered 'cs the refusal to renew the
ehafeF o. LAT would be the indefinite increase Of
y" Sc cry thank facilities" with aiding to which 10
danger us excess, they ere now reproacIol by the
very men. "h1 with that warning ringing in their ears
consuamated the leucton of that institution, We do
not intend 10 repeat the minute incident. of that slrange
eyenth history" rpm the true character of which
men are no even yet unmpass!oied enough 10 render
Just verdict, but watch will be contemplated with IN
mixed anazenent by those who come after US and
who VII BE- uaiull'n'cl by the party and personal
auds Of ih' aes. Let us see only If the ml,,ers
o iaci which that history-aye, 'rccolded hs,ory
tells u. lfslys, that in 1880, there the United
States, 80 tanks, with capital of slA5OCO. O0e
In lS32, the bill recharering the
Bank 81 tn United States was vetoed by
Gea Jackson, and in 1888. The dep1ses
were removed. In 1888. the number Of
Banks had increased to 5JS with an az
greaaie capital Of 33l 100000
And in December 1887. about which
time the bubble Logan to burst they had
still farther augmented ia 100 in number
with ~ aggregate capialo 10000 900
Tans in the short period Of five years after the Ma
tona Bunk had been vetoed, AM within much shorter
period after the expiration of It's charter we see the rld
cued anl dsregadcd predictions and WARNINGS OF The
wing doctors fully realized tar as the increase of
thanking facilities" Is roncerued-and yet this Mat
ter OFact2 writer charges that very Increase upon the
Wings.
Blu h. may say that the bare fact Of 81 LARGE an in
crease Of banking iaccs,' succeeding the Bank We
to- dose nat prove that the Loco focas are responsible
Tor IT sn'e, n the first place. that increase may not have
been consequence of that veto; if was the Loco,
may not have ntdbued to it by their votes OF course
II Is MT susceptible Of mntemtticai demonstration that
the overthrow OF the Noonl Blnl lei to the rapid and
unprecedented augmentation Of the number of State
t'anks-but M sane mind, we believe doubts it, We
know, that III this State, applications for increased bank
ing iaelli'es were made TO the Legislature founded L,
some extent II not mainly, upon tlat fact and we pre-
sumo II Mas the same case elsewhere. Certainly the
two eyeats were nearly cotemp1aneons that it would
DE miraculous II there were connection bctweea
them " neither this be not, however the truth is
that the number of State Banks as we have seen more
than doubled 'ieir number and rebel their capital in
about five years. rircu instance unhalr of before IN
the annals Of the "Cred System. And by which par.
ty was II dDpel Neither, PIE eoaeede, was eniirclY
gultiess-5at the following table. which we fad made
up 10 our hand by cotcmPl rary, will show that thl
locos are about i'cicr as guilty the Whgs-and W,
hope alter looking OF it, that ''Matter OFacl" will ac
Wedge that he loco oco docto,s are rather deeper III
The mud llan their whlg brethren are in The mirc: