The North-Carolina standard., 1843-11-15
asoME TALK ABOUT A BANK.

tor OF i ne 1nuepeuueul, loI AdFiuS iAouO y y o
submitted the issue of Bank or no Bank as one OF
the great and vital issues for the campaign of 1874
We are glad to see disposition existing, to some
extent, even in the Wing party, to set this great
question prominently forward and we hope, for
their honor, that we are destined to witness no
more of those disingenuous equivocatons in con-
nection with it, which they displayed in this State
and elsewhere, during the late campaign. Nor
are we afraid to meet this question. We take our
stand-we occupy our stand-on the broad and
immoveable platform of truth Here, no matter
how the spirit of the storm may deal its thunders,
no matter achO strikes the blow at our principles,
we shall feel secure for we know we stand upon
q rock.
On whatever ground the proposition to charter
another National Bank may be placed by its.
friends in the approaching campaign, we believe
the people will meet it with decided and irreversi-
BILE objections. We are led to this belief by
calm and careful review of the whole matter, as
we'll as from the high estimate we have been
taught to place upon the popular virtue and intel
ligence. No man is better acquainted than the
Editor himself with the enofnities committed by
knows better than he does the utter impossibility
of so guarding and restricting another institution
of thesame character as to make it the active and
uniform cause of unmingled national prosperity
We walk in safety only when we walk by the
lights of experience; and surely, surely, in this
matter, we have had as much experience as any
people,
We do not propose to argue the question now.
1t is not necessary that we should We merely
content ourself with spreading before the public
succinct hut faithful sketch of the operations of the
late National Bank, together with such remarks
as the subject may suggest
"HIsroRY THE LATE UNITED STATES BANK
The New York Herald furnishes concise history of the
late Bank of the United States, the item OF its circua-
ton, at different important periods The Bank went in
to operation in 1875 and on the 1st of January, of the
year following, It's circulation amounted 81 91 200
January 1918, the institution became involved in diff
6cuy, and was the point of failure the circulation
amounting to 1888, AS In 1920 the circulation had
been reduced to $3.50 4sl. In 1928 Nicholas Bidde
chosen President circulation ,S6I ,05S In 1924
there occurred general Tevuson in business; circua
tion ,647,077 In 1928, the Bank commenced its po-
ca operations and its circuation this period was
9Sbo677 From this tIme until 1882, it continued
expand, when its circulation had up to 21 1855 724
In 1886 the charter OF the institution expired circua-
tion 2S, ,075I2 In 1887 general revulson occur
red, followed by universal suspension of the Banks
the u States Bank turning cotton speculator in June
that year, to ''sustan the price of - circulation
$lI, ,447 $685. In 1888, the New York Banks resumed
specie paymens circulation Of the United States Bank
Sc, ,76S 067 In 1885, Southern and United States Banks
resumed circulation of latter, S82 62l. In April,
OF the same year, the Bank, in the midst of its
spaculatons, r Biddle resigned the Presidency of the
concern received the thanks of the and SER
vice ofPate, worth $4,000. the Bank being voted ''in
prosperous condition - circulation $50, ,I44 In
june of the year, the circulation was reduced to
four hundred thousand dollars the Bank having sold
Bills OF Exchange to a large amount in New York. more
than 900 01V drew the proceeds in spece and Ship
ped il 10 England. In October of the same year. the
Bank filled, after notice OF the dshonor of her in
Paris was received at New York circulation 305. .000
In January lS40, the circulation had increased So
695 S6t the Bank having been in suspension since Oc
tober H. In January, 1s4l, the circulation amounted
7l575l7; besides ,445 $50 in Post Notes. held by
other Banks, in order that itself might resnne which
lid In February OF the year, the final failure of
and Post Notes ees In the AprI tofloSin2 the
Bank put in liquidation its circulation lat that ti,ne
$S,2s4, $40"
Here then, is the history of ah institution, esta-
0hshed for the express purpose of giving cur
rcncy to this great people, whose issues from 1917
% 1923 never rose above eight millions of dol
lars! The Wings trlf US that one hundred mil, s
lions of dollars are not sufficient; and yet their
own cherished National Bank never circulated
more than twenty-fv miIlionst Where was the t
specie at that time2 In the clutches of the Bank t
shaved and speculated en-used here, to accom-
Dish the neurious designs of the Directors, or t
hipped to England just before the grand crash
ame, to keep it out of the reach of those to whom 6
of right belonged A week or two since, we q
'uh1shed Bill in Chancery, which had BEEN c
lied against Mr. Bidde, for the purpose Of elicit
ng the truth in relation to the manner in which S
our hundred thousand dollars, the property of the
tockholders, had been disposehof by him; and
very circumstance connected with the Bill itself r.
S we'll as with his answer, went to establish be- t
lef that this enormous sum had been embezzled S
y him, and used for private purposes And who d
oes not remember the cotton speculations of the s
'ank-its insoent bearing towards the constituted
uthories of the land-its open and unblushing I
anticipation in both State and national elections
IS failure, and the thousands whom that failure t
overed with the garments of poverty and want ? v
it necessary that aoe should refresh the mind of
he Editor on these points2 We hope not, i
We are opposed to National Bank on grounds u
9th fexpediency and constitutionality. We pro- /
ess to belong to that party, which dates from the
levation to power of Mr.. Jefferson its active and