Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-06-21
THE LoCos AND THE BANKS.


Many a time has the imp1tation been cast upon
the Wings, that they the mnions of the banks
Bank hrelings'-"Bank- slaves"-"Bank- myr-
midons"-were the mildes, terms in which the I'M
putalOn was couched. And this, too by the Par
~, who had created nne-tenths of the "swindling
Shops" and taken in the aggregated were deeper
IN the mud than their neighbours in the mire. They
who know any thing of Richmond and its environs
will appreciate the truth of this rcmark-lor many
OF those who have rallied most against banks, and
were most boisterous IN charging the wings with
being the hirelings of the souess corporations
were they, who, II their own assumptions be con-
ceded, furnished by their Indebtedness the strong
est evidence in their own persons of corruption and
bank dependence.
But Virginia, altho an illustration OF the SUCCESS
OF Locoioeolsm and Binksm combined, is n very
imperfect one, compared with Alabama. In this
las' State, the reign Of Locofocosm has never for
moment been interrupted. The raseally Wings
have never been IN the ascendant there for a single
day. The Locos have had 1t all their way, and
with none TO make them afraid. Behold the results.
They have made banks ION State account) and di =
v'ded the capital among themselves! The tale is
told 10y one OF themselves, who has probably been
cheated ut of his portion by his fellows. We copy
from the Globe. "The Flag of the Union" is the
organ of Locoioeoism in the State and three fourth
Of the Alabama Legislature L0eoSi
From the Globe.
ALABAMA BANKS
The Tuscaloosa "Flng of the Union" gives. in the
following manner, the reasons why the Alabama
banks are permitted TO remain in a state Of suspen
sion, viz:
"The evil which the whole System sro ma
\ he
Of us debtors large majority IF Hopss II re
debfors Wien II - knavsn how completed, tbs tans ~
under the control Of the legislature Inc bare statement
The fact tats majority Of that body up OF int VII
dnas ndeLtedto these institutions would seem, Of s sIf
almost sufficient In account Tor every bcsets the
every idea aud hope cf reform while e<ists lac
/ with them alone"
In connerion with these facts, it should lie re.
| memhered that the entire capital of the Bank OF
Alabama was furnished by the State IN the for m
o. state stocks and now constitutes State debt.
ms capital, through loans from the bank is in he
use OF members OF the Legislature and few 9th er
specuatoIs, who find announcement to refund it, =
ne consequence is, that the people are cursed and
robbed by depreclated currency, with the prospect
OF being further robbed to the extent OF the entire
| BANK capital for the accommodation of "A few citi.
zens, whose operations with the means thus obtain
Gu nave been worse than useless to the community
New York paper complains OF the. Proprietors
of the White Sulphur, Grey Sulphur, and some
other Of the Virginia Springs, for no, informing the
public Of their accommodations, rates. &c. "There
IS disposition hereabouts (says the paper to ex
Plore in new quarters for watering places"
We, in Richmond, know very little more Of many
of the Virginia Springs than they do in New York
The proprietors Of the Hot, Red Sulphur and Dbl
relrs are those only, who do not seem disposed IA
conceal the virtues of their waters from the public
or to let them know that they are prepared to enter
tam company.