New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1843-06-16
A National Rnnk.

another 1act we dld not 1eel at uDefty 10 oie-
guise.
A National Bank.
VIII Mr. Greeley his paper whether or not It Is
Of the avowed principles Of the Wing sS to support
The establishment of a National Bank hNUtlEtit'
EcW York, June ID, 1913.
Reply TO the aboce.
We do not well see how favor or hostility to
Bank can well be regarded as principle
avowed or otherwise The principles Of the
Wings most nearly touching this subject we un-
derstand to be as follows: |. That Government
should be so organized and administered as to pro-
mote, to the greatest possible extent, the welfare
of the People; Q. That mixed Currency, CON-
posed of Specie and of Paper redeemable in and
of equal current value with Specie, is most con-
ducive to that end; 3. That this Currency, both
Its Specie and Paper, should be of uniform value
throughout the Union, andlts paper in all sections
readily convertible into Specie. These are oar
principles if you choose SO to call them; and we
believe we but express the very general conviction
of the Wing party along with our own, when we
say that these great purposes OF National utility
and benefcence can be more easily secured and
will be better subserved by a NATIONAL BANK,
than in any other way Such Bank, formed
upon careful consideration of all past errors and
defects as well as benefits, with a view TO avoid
the former and double the latter, rgidly guarded
against abuse and supervised by the Secretary OF
the Treasury and by the Finance Committees OF
Congress while in session, could 10. Cd q '''
Industry, facilitate the Exchanges, and confer
blessings on every deserving interest ana every:
class in the country. Such we bs!ieEc
dictate of our past history .'is
".e'''o = s,--country-a dictate which in
Soou sss distant hour Of reason and calmness
3 Will be heard and needed
Our own conviction-in which wo do not
choose to implicate any but those who share and
avow it with us--is, that only through the crea-
tion of National Bank can the country rid it
self Of the mania for petty Banking, or rather
Currency making, which we regard as one Of It's
weighticst Affections. A petty rag-mill in every
village where tailor can exist, grinding out Cur
rency, which is not credited fifty miles from homo
on known over a hundred, we regard as great
mistake, and a mischievous subtraction from the
productive industry of the Country for such uses
as engraving, bll.printing, &c. With a Cur
rency so created and governed, there must be
endless failures, excuses and reverses, counter
feits, &C., &c. AS things are, this may or may
not be better than no Bank-at any rate, it is
certain to exist until something better is provided
to supplant it. But truer and better system, III
our Judgement would be to let every body bank
who chose and could get custom, without restrlc.
ton or interference, but allow no Paper Currency
but that issued by National Institution, care
fully organized, and loaning its paper at low
rate of interest only TO private Banks upon the
most indestructible security, and these Banks
making loans again at the legal rates of interest
10 the community. The National Bank should
have no power TO expand or contract It's issues
beyond q narrow limit, except upon public notice
OF two or three months under the direction of the
Board of Currency or Finance Committees OF
Congress We believe that upon this plan Cur
rency might be created which would gradually
replace the little that remains Of the State Bank
Currency, secure the country against injurious
expansions and contractions unite public respon.
siblhty and benefit with the vigilance and thrift
Of private interest, and furnish Currency every
where equal to Specie and on which, being in
universal use, no counterfeit could deceive the
most illiterate. Such system we believe would
save millions now annually wasted, and be better
for the Banks than the present, while infinitely
more benefcent to the People.
BJr A writer in the Baltimore American denies
that any reputation resolutions were adopted by
large and respectable meeting in Cecil County.
It seems reputation meeting was called but
only two persons, besides the selfappointed Com
mittee, attended and one of those, having mis-,
taken the object of the meeting, left immediately
80 that the Committee and one were all who
were present We are glad to hear ii.
r The Boston Mercantile Journal says, it has
recently been animated In various quarters tina,
Mr.. upshm Will soon be transferred to the State
Department, and David Henshaw of Massachu-
sets be appointed to succeed him In the Navy
Department.
Gy~ The Rochester Democrat says, intelligence
had been received in that city of the appointment,
Of Lyman B. Longworthy to the collectorship
of that port, in place Of james K Livingston,
Esq.
u Dr.. LARpsss is leeturing at St Louis.