Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1844-04-18
Date Of Charter.

The charter oaliscs Parliament 20 give one year, notice Of
lis intention. The year expires the last OF July the present
year. This powerful Institution is pursuing a course of ac-
ton that has caused considel able SPECULATION in The public
mind as to the result Of the movement that VIII soon be
made. The whole banking system Of Great Britain will be
thoroughly Investigated dun ing the present session Of parlia-
nenf, and i decision made regarding the Bauk Of England.
There is a very serious contest going on between the bank
and the joint stock companies OF Great Britain. The London
journals have taken up the issue. Those interested in the
JOINT stock banking companies have alreaiy their fiends in
Parliament protecting their institutions against the powerful
Influence Of their opponent. The ministry are in favor of
the Bank If England, aid IN favor Of making hat institu-
ton the only bank Of issue in the kingdom. The connection
That exists between the bank and The government. is of a
very valuable oonside aiion to the ministers, aud enc that
cannot &c dissolved without involving serious consequences
The goveinment l. a large cediiar # the bank. an that in
stItution has been of g.eat service in reducing the Debt Of the
country, and in granting facilities TO The ministry in time OF
need. During he numerous and lengthy waIs in which Eng
land has been involved, the government has been sustained
by the bank, and without which they never could have been
successfully carried out. These events have Drawn tie bands
Of connection between the govern mcni aud The bank 50 tight,
that they cannot without danger lie se,c!ca. and this gives
the bank the power 10 demand of the ministry additional phi
vilcges. The power they request, if granted, will he death
to The private JOINT stock companies. BY becoming The only
VIII, and can bieak them down whencrcr It may deem prop
CT 10 do 50. The private bankers have 10 advocate among
the ministers. Their influence goes NJ further than TaTlia-
nent, and II is sup. oei they viii fan short Of their object.
The secret movements Of the Bank Of England, at the date
# our last aivice>. were creating a z eat excitement through
oct Great Britain. The immense accumulation Of bullion.
and the additional strength given 10 every department of il
business, shows plainly that the government Of That insiiiu-
ton are PREF arns for some contest in which they will have
much to contend against, and ia which they aIe determined
TO be successful. In a great measure, the Bank Il England
il at this moment similarly situated to The United states
Bank just before Congress refused 10 rochai,cr 1t. In the
case Of the Ban1 Of England. it has the government in it,
favor, and in the case Of tic UnifcdStaies Bank. the govern
mcni was opposed to it. The Banko Of Engllnl has the JOINT
stock banks OBJ osed 10 it, and he United states Bank had
the State bank system IN The OPP sitiln. The first move
made against the bank Of The United States originated in a
bank in tie city Of Utica, in the interior Of New York Flom
that spot the bIl was set in motion that finally ovcibalanc,d
the grea; regulator. The Stale Banks TUNED against the
United States Bank, in Consequence OF an attempt made by
that Institution to monopolize the issue If paper money, and
to control the movements Of the local banks. 1t sought TO
become the chief ruler of all financial opcaflonS, and 10 hold
in check all ether institutions who did rot acknowlcdse ITS
SUI cmacy. The government firmly entered the contest in
opposition to the bank, and the war was carried on vigorous
ly. Ia the meantime the currency became enormously in
lated, the issues of paicr money were 10 IN immense amount;
speculation became general in all descriptions Of property,
and, amidst the gea,esi expansion Of banking operations, the
United Sta'cs Bank went out Of existence. \ revulsion fol
lowed that event, that shook the whole system of banking
l. the very ioui daiion AMI ruined thousands before the foIce
of il was abltrd. With all The energy aud ontcr,Iize the
people of this county possess, with all cur Unbounlcd Ie-
sources AMI unlimited wealth, il is only after years Of iiGu>-
tly and the most Iigii economy, that we have recovered the
position the country al present occupies. No other nation On
the face Of the earth could have sustained a revolution IN
commercial ala IL, similar 10 the one that immedia icly fol-
lowed The di,>o'uti u Of The Uni,cd States Bank. The pco-
pie of this county wee youtg and in the ssislc, and could
be kit was fortunate They could bend 10 tho blast.
The movements going forward throughout Great B.iiain. IN
relation to financial affairs, viii result in 4 revulsion some
what similar to that produced by the contest between the
banking interest Of tins county. With the Bank OF Eng
land and the ministry on one side, aud the private Joint Stock
Bank aud the large Commercial interests on The other, asys-
TEN Of warfare VIII be carried ON that viii terminate in bank
Iuptcy aud luin 10 thousands.
If however The Bank Of England is successful, A. no doubt
il will be, the course of events will progress as heretofore
Tic Government Will be sustained in its course of unielcnt-
ig oppression and robbery, until the people omancipa'e
themselves by a civil revolution, if they can possibly find
the means 10 effect it.