The Yazoo City Whig and political register. (Yazoo City, Miss.) 1842-1844, 1843-08-25
From the Wheeling Gazette.
A National Bank.

While all admit that a sound currency is
essential 10 the prosperity of our country,
we fear too many are preiudiced against
National Bank, which we consider the surest
means of affording il, by a want Of proper
examination and lack of a calm and dis
passionate consideration Of lis many advan-
tages. In order that those who oppose such
an institution may have material for refec-
ton, we propose noticing few Of the many
which a National Bank
possesses over Stae Ranks, an Exchequer,
or the Sub-Treasury.
Founded by the Government, and con-
necled with it as financial agent, the paper
money which il may furnish the country,
will necessarily obtain credit and crcula-
ton which the paper Of no State Bank can
ever obtain. In all parts of the Union its
value will be the same. In the transmission
of small amounts all difficulty will be olivia
ted, and the traveller from one part Of the
country to another will not BIO subject to
these perpetual losses in exchange which are
inevitable without ii. The inconvenience
lof carrying large sums Of gold and silver
and the many dangers attendant upon the
remitting of money in that way will be en-
tirely overcome.
A National Bank, as a matter Of course
will have branches in each of the States OF
the Union. BY this means, the value OF
notes will be equalized, and facilities afford,
ed to the exchange operators of the commu-
nifty which cannot be realized by means oil
any other agent. The most preiudiced op.
ponent ofsuch an institution, if he he at all
conyersant with the nature of commercial
transactions, by moments reflection mus
become convinced Of the importance of this
advantage alone to all those interests upor
which the country depends for its prosperity
/ namely, Agriculture, Commerce, Manufac
, lures, and the Mechanic Arts.
! When the much abused United State
Bank was in operation, we had practical il
: Illustrations of the advantages of such an in
stitution sufficient TO convince the mos
!, sceptical. Tucker, in his work on Bank:
e which is much quoted, and greatly relic
i upon, states that the amount of domestl
e bills purchased, and of drafts sold, by tn
! Bank OF the United States in the year 1873
j was upwards of eighty millions OF dollar;
: and the premium between the most distar
;. places seldom exceeded one half per cent
,. and, for the most part was under one fourt
: per cent. This fact, Of itself, should prov
n conclusive as TO the facilities afforded by
- National Bank at least over State instit
of tons. The increased rate of exchange
y. the part Of the latter, alluded 10 by Tuckt
was at time when they were considered
&c prosperous condition. Under more adver
10 circumstances, when the war upon the CT
~. Irency had directed the concern OF all TO Sc
- preservation, it is known that exchange
for vanced TO a much higher and most ruino
-. rate, so that all having payments TO make
he la distance regarded the difference in
he value of money as most material item,
e5 With this fact staring US in the face, will a
nc one deny that so far as uniformity in
- currency is concerned, It is the inteFes,
all all TO advocate the establishment Of
aq tional Institution as great regulatorg
must be fast harnessed TO the party car =
the will have the effTontery to combat so pia
dsd proposition,
fore But independent Of the facilities afor
re- to the people, as a mere agent Of The &c
r., raj Government in the collection and
VI bursement Of the revenue, National Il
.se teton i Indispensable. While the Ban
ana the United States was used for the coll
ext. ling, safe keeping and disbursement Of
public money, who can point 70 losses. p
the lations or Irauds9 No one--during
n whole time that that institution acted as
Q be financial agent of the Government, not
qul- cent Of the national revenue was waste
ana stolen. Funds were safely kept, prom
l ne paid. and Temitted to distant points, 81
boss necessities Of the government require
aties the most trihing cost. But how has ii
act, since otner means were adopted for thl:
alton poseG how was Il with the snb.trea
Docs not every reader remember the