The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1843-02-23

aCAlon IN tDiS naiIeE, GossfhA CO AhS N'SuiN
OF the Bank abroad. as well as al home,
aud compelled the Stockholders, IN justice
10 themselves, 10 pursue the course IndIcat-
ed at their general meeting, Another OF
the bills on Your table, makes II penal TO
cat. ppriorale With holes, or cement togeth
er, any bah Of anv Bank IN this State, and
prohibits The Bank from receiving the notes
OF the Banks of other States, Under a pen.
nl;y Of five hundred dollars. besides subjec,
log the officers 10 Indictment, aud finu and
Imprisonment, on consictiou. II any sus
pend another b.i says "lt shall work a Tor
teturo Of their chartered privileges" An
other, " that ~ cass OF SUSPENSION, they shall
pay 10 the note holder twenty Csc per cent
And yet another, "ihat they shall DOT col
lect IN any Court OF Record, auy deb.
while they remain ~ state OF SUSPENSION.
ln short, Mr.. Speaker, It would occupy too
much time 10 read even the tide OF the GAG
tons OF the various bills on your table,
tending either directly or indirectly, 10 al.
feet The character aud standing Of these in
s'i!u:ious. And, as remarked the other
day, sir, although these paper denunclallons,
Eliminating against The Banks, are IN them
selves perfectly harmless, and although any
act passed TO alter or amend the charter oil
the Banks WITHOUT the consent Of The Stock.
holders, would be by the Courts declared
unconstitutional, YET such attempts 10 leg
slate upon the matter al all, viii have the
same effect abroad as if such charges Of
corruption and Encouragement were true,
or as if such additional restraints we're con
slltuiIona.
But, sir, the gentleman from Chatham
(Mr. Jackson) replied to me on yesterday
and referred me 10 O decision o! the Su
preme Court oil the United States, which
| shall presently notice more particularly
he declared 1t as his opinion, tina, the Leg
islature could not ouy alter or amend the
charter withou, the consent Of the Bank,
but they could repea II altogether Should
that opinion be correct, II would be an add
tlonal reason why the Stockholders should
be DESTROYS OF winding up The business Of
the concern and surrenderng their charter,
as by the passage Of the bulls now on your
table, YOU not only cripple The Banks, but
you render them useless altogether dead
weight on the hands Of The Stockholders,
who would, no doubt. prefer seeing their
capital profitably invested, rather than lying
IN the vaults Of the Bank, producing 10 pro
lit whatever. desire, Mr.. Speaker. to be
distinctly understood on this subject. have
no particular interes; in advocating the
Banks 90 this floor, only SO far as they are
connected With the interests OF nv cons.;.g
ents and, SIR, think shall presently show
to every rational mind which Is unembar
raised BY party feeling or prejudice, that the
interest Of these Banks and my constituents
are intimately blended. Yes, sir, and not
only the welfare oil my constituents, but The
welfare OF the constituents OF every member
of tins House is, 10 greater or less degree,
identified with the interest OF these ins,,u
tlons. Before, however, ! do this, sir, per
nit me to notice the remarks Of some gen
tlemen who replied to ne on yesterday
The gentleman from Orange vho introdIc
ed The resolutions now under onslderauon,
says that was mistaken IN sUppcslug that
the clause in the Bank charter permitting
the Bank TO issue two for one OF It's capital
stock, and the additional clause, requiring
the Bank to pay a penai,y Of twelve per
cent. IN case II suspended specie payments,
are 10 any way calculated TO induce the be-
lief that the trainers oil tins charter ever
contemplated suspension Of specie pay.
men,s; on the contrary, the gentleman
says, that by a suspension the Bank has
forfeited rs charter, and that the penalty
OF twelve per cent. was only gwen 10 note.
holders as an additional security. | con.
Tess, Mr.. Speaker, am unable to perceive
either the fsFco or CORRECTNESS Of thls arau
1aeui, or 10 understand the mode Of lis ap
phcslion That The Legislature should
permit Bank 10 issue tao paper collars
for each silver dollar 10 lis vaults, and We,
not contemplate suspension 10 c8se a run
was made upon II, IS TO me iacomprebensi.
bic. Not less so, however, ihau the other
branch OF the gant,eman's proposition,
ramely that they should prescribe ~ the
charter a certain penalty IN case Of suspen-
sion, which IS comparatively nominal, and
yet In.enG, without SO expressing II, that
the highest penalty known to the law should
be superadJed. Surely, sir, the election 81
the gentleman from Orange as Solicitor
mus, have given him an lnordiua.e thirst
for the Likelihood Of this corporation.
know. sir, that Il IS usulI - suppose hat
Solicitors are prejIdlced against CYLINDERS,
but Il is not customary for lhnn to condemn
without q hearing, and stu! less 50, 10 de.
clare the Ie Of All individual forfeited for
every little petty mlsJencanor; q forfeiture
Of tue charter DESTROYS the very existence
and Is the highest penalty tbat eau be IN.
tlic,ed % an Incorporate cornagy, aud yet
we are told, that the slsaension Of specie
payments BY the Banks although the law
declares the punishment to be ,ae,qe per
cent. from the time Of demand, works II
forfeiture Of the chartered privileges. But,
sir, preposterous as tins proposition must
appear, /, canHo; be more 50 than the other
advanced by that gentleman, tina. the twelve
per cent. was gwen a. an additional secucl
~ TO the note holder. Surely the Eole.
L l., Ill, Z &. q