The Whig standard. [volume] (Washington, D.C.) 1843-1844, 1844-06-20
THE GLOBE AND THE DISTRICT BANKS.

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by the swelling title of recharter of the Dis
trict banks, for certain purposes" And the
editor of that paper takes occasion to say that he
"rejoices at the result" 1t behooves us in JUS
tce to the helpless people of this District, to state
the facts of the case for the information of the
country. There are in the District of Columbia
six banking institutions, all of whose charters ex-
pire on the 4th Of July. The great majority of
the people of the District think the banks, which
have been we'll conducted, essential to their pros
perity and welfare, and one would suppose that
in matter purely local, the wishes of the people
of the District should govern the action of Con-
gress The Constitution confers upon Congress
the supreme government of the District for ma
| tonal purposes in order that the local authori-
| ties might not have power to interfere with, or
| interrupt the deliberations of that body, or the
action of other departments of the Federal Gov
eminent. 1t was never imagined that the power
thus given would be used for the purpose Of prac-
Using system of petty tyranny upon the hand
| full of people who surround the Federal Capitol.
Every one can see that it can be matter of no
| consequence to the Federal Government, whether
the banking institutions exist in the District or
not--the question is purely local, and the people
affected by it should be allowed to determine it
their own way Why have not these ant-bank
wiseacres abolished the system in their respect
every State in the Union, and in general, to the
greatest extent in those subject to the misrule of
Locoiocoism. Is it not cruelty tyranncal, then, to
experiment, upon the people of this Distrct-to
test their crude theories at the expense of the well
fare of community DISTINGUISHED by the Consti-
tuition
But the result which has afforded so much
qualification to the editors of the Globe, has not
been effected by the majority in Congress.
very small minority, (perhaps rot more than thir-
ty,) actuated by the disorganzlng spirit OF Loco
focoism, by repeated motions to adjourn, calls for
the yeas and nays, and other expedients, at the
very last gasp of the session, compelled the large
majority to accept of the bill which passed, as
substitute for recharter The bill is not an ex-
tension Of the charter. 1t merely guarantees to
The stockholders the privilege of suing and being
sued, without comforting or intending to confer any
benefit upon the community. By way of illustra-
ting the patriotism of the Globes anti bank friends,
we may mention that Mr.. Hungerford of New
| York, whose scruples would not allow him to
vote for bank in the District of Columbia is
himself the president of bank
The editor of the Globe says that the last three
years have constituted period of greater pros
perity than any other since he has known the
city. But have we not had banks and bank mo-
ney in abundance in that period Does not the
bank money of Maryland and Virginia circulate
here, and will it not continue to circulate in
greater abundance after the District bills are
taken in! But the Globe says the reform should
commence somewhere and as well here as else
where. We think not We think the reform"
as he terms the abolition of banking, should be-
gin, if at all, in the States, where the voice of the
people can be heard We shall never believe
that supreme power was conferred upon Con-
gress over this district, in order to make it, like
an hospital patient, subject for the exercise of
political quacks.
The prosperity of the District may be account
ed for in many ways by those who have watched
or participated in it; but the reason assigned by
the Globe is the very last that any rational or re.
fecting man would give.
The course Congress has pursued in this mat
ter will have the effect of producing the same
state OF things that existed in the District, and
throughout the country generally, at the time of
the general suspension of specie payments-that
of flooding the District with foreign deprecated
paper currency and there may be something in
this, too, to cause the Globe to be "gratified at
the result probably they may again be enabled
to sell their specie drafts to brokers at premium,
and use the deprecated currency for their bust
neso purposes Sef-aggrandzemen is the real
essence Of Locofocoism, and we should not be at
all astonished if it is not one of the promptings
OF the Globe in the present case.