Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-03-03

Che zpmriluur9 1'trNi,ltam.
THURSDAY. .M3RCH 3. 1912.
Resrmpiim Lar IN Ohio-H fBects.

requiring The Bahks "I II al 0la'e 10 sl" u,
monts Oh the 9TH oil March and this IA" Is published al
length IN the " asinst'n 'ioDe' Win i@u"'u"Iy com
mcns. as The .l"a trump" q me Peep" o'" "e D""'s'
shall soon see "he'h'f i" POM u 'af', ~ MOI
triumph "i 'h' people OVER "''hs''''s' anu ""c'f ''e
same 'd'ct NI'ifl prostitutes '' swimming SHOPS VIII
n"iovorwhen the country IN embarrassment ana rum.
y mas h'S ''fh 'oi'''u'o ''a' al pa'@S "n'" are
h"l S'''"'' '' 'S'''' ''e IA 'h'"'N " u" WI
an" u" wv "'e "''''''' SHUT VIII w ~
o''' '''o "'''''o' ''"'' 7''"''9 "'''''' '
pahhn'P' nose VINO assume 'iis utterly hh'eh'oie P)
sl"n seem 10 ''t2e ''' ny "'e very ORGANIZATION Oh Tue
BANKS 'he'f IMMUNITY 10 meet promptly All de'''S upon
ih''" !" Nl"fh' Is feoghH'' 'h' h3hy sdhc'ioh'i'
Ihcy are specially permitted by The PROVISIONS o Their
Respective cnaifl, 10 ISSUE '"'e ooilafs IN paper - ''
cry ""li'fo specie III 'h'f 'aoil8-ahd ts'"rmsNlon
was granted because experience had demonstrated thai
On ordinary occs7ns' ana during le existence {" gen
eTi c'"ld'nre lie hnId'r Is amply guarantee from
loss while To The public generally II "odbca source ol
nnquestIona5le convenience But IN times like these
when universal dslfas' prevails elleeiins individuals as
well as bahs II Is manifest that these institutions, by
rfsnnIng would subject themselves To The hazard Of Re
gcrncss OF the md noteholdor and deposition to avoid
laor, who would force from them hcir specie for the
purpose of realizing the difference between specie and
paper In such times 1t never could have been cuntc-
plated that the Banks could pay, demand all their Ii
Abilities and the State Legislatures, IN leeazlng slspcn
sion, NJ, maniiestly governed by the idea which
prevailed at the period Of their incorporaon--ro vii.
that in emergencies like the present they should not he
rcqmrtd To do what, in better times, they not ex
peccd To do and what time II possible for them
To do Fit had been designed, by the trainers of the
original bank charters, that they should always be- able
10 pay out What Col Benton calls tho hard. for every
dollar Of their liabilities they acted very Inconsistent,
in not requiring Them more nearly To cquazc the propar
lion between their specie and their issues I'm auhori
zng them to issue three Of paper for one silver and
they acted On the correct presumption that under orli
nary circumstances, Incorporation would enable them 10
meet all demands which would probably be made upon
thom-and they also cntacd upon themselves hcneccs
slty, Inot the obligation of protecting them from ncv
table ruin, whenever the cmbrassncns Of the country
and the general loss of confidence should subject them 10
the necessity OF closing their vaults This may have
been radical error. We will moi say that it was not
But if was, it Is not within their power to correct
it. We must lcgislae upon things as they are, and not
as they ought 10 be. Proftnp by experience we may
hereafter correct the error into which we have fallen
But the application Of this remedial nroccss INNS, lao nc
gradual as have been the Growth of the abuses which
have demonstrated its ncc,ssi y |, ism, th ,r Of ,
day 10 correct evils which have imnercen,il, r,,, ~,