Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1844-07-25

Plush that OBJECT, tho policy was adopted
Of refusing to discoun, the notes aud bills
OF any English houses engaged in tho
American trade. Ii a bank Of the Uuited
States had been 10 existence al that time,
/, could have adopted some measure Of
counte raction; but there was none, and
the banks Of England effected ito purpose.
II has been asked, what, will you have
banks, merely because the monarchies Of
Europe have themi Why not also intro
duce their King, Lords and Commons.
and their aristocracyl This 10 very
shallow mode OF reasoning. might ask,
in turn, why have armies, navics, laws
regulating trade. o. any other national
institutions or laws, because the monar-
chies Of the old world have ,hemi Why
eat, or drink. clothe or house ourselves.
because monarchs perform these opera
tons - suppose myself the course Of
true wisdom, aud common sense, to be to
draw from their arts, sciences, and civil.
eaton, and political institutions, whatever
is good, and avoid whatever is bad.
Where, exclusive Of those who oppose
the establishment Of bank of the United
States upon constitutional ground. do We
find the greatest opposition 10 i'll You
are, fellow citizens, perhaps not possessed
Of Information, which | happen to have
acquired. The greatest opposition to
bank Of The United States will be found to
arise out Of a foreign influence. and may
be traced TO the bankers and brokers Of
Wall street in New York, who are Weld
ing foreign capital. Foreign Powers-
aud foreign capital see, with satisfaction.
whatever retards the growth, checks tho
prosperity, or arrests the progress ofthis
country. Those, who WELD that foreign.
capital, find from experience, that they
ran employ il to the best advantage, in 4
disordered state Of the curcucy, and
when exchanges are 6uctuating and irrsg-
ular. There are no sections Of the Uni
on which need q uniform currency, sound
and every where convertible into specie.
on demand, so much as you at the South
and we in the West. 1t is indisTe nsable
to Gu. prosperity. And, il our brethren
at the North and the East, did not feel the
want of j, themselves, since il will do them
no prejudice, they ought, upon principles
of sympathy and mutual accommodation,
to concur in supplying what is so essen
tial to the business and industry of other
sections Of the Union. II is said mat tho
currency and exchanges have improved
aud are improving, and so they have, and
are. This Improvement is mainly sttri-
butable to the salutary operation Of the
tariff Of ls42, which turned the balance
of trade in our favor. Blu, sach 10 the en-
terprise and buoyancy Of our population
tina. We have no security Tor the continue
ton of this state Of thIngs. The balance
of trade may take another direction, new
revulsions in trade cray take place, sea-
sons of distress and embarrassment we
must expect. Does any bedy believe the
local banking SYSTEM Of the United States
is competent to meet and provide for these
exigencies7 Il is the part Of a wise gov
eminent TO anticipate aud provide, as fas
as possible, for all these contingencies. II
is urged against baaks that they are often
badly and dishonesty administered, and
frequently break, to The injury and preju-
dice OF the community. am far from
denying that banks are attended with mis-
chief and Some inconvenience. but that is
the lot Of all human institutions. Tho
employment. Of steam is often attended
with most disastrous consequences Of
which We have had recent melancholy
examples. But does any body. on that
account. think Of proposing TO discontinue
the agency OF steam power either On the
land or the watar? The most that 10
thought Of is, tina, It becomes cur duty to
increase vigilance and multiply precau-
tons, against tae recurrence OF accidents.
As TO banks. the true question is. whether
the sum Of the Inconvenience Of dispea.
sing with them would not be greater than
any amount OF which they are productisei
And, in auy new charters that may 90
granted, we should snxiously endeavoe
to provide al possible restrictions, securi-
ties aad guarantees against their mismaa-
agement, which reason or experience may
suggest.
Such are my views Of the question Of
establishing a Bank Of the United States.
They have been long, and honestly, and
sincerely entertained by me; but ! do not
seek 10 enforce them upon any others
Above all, do not desire any Bank Of
the United States, attempted or establish
ed, unless, and until, il is impsrativeiy de-
manded, as believe demanded it will be,
by the opinion Of the people.
"TIE IS A FREE TRADE MAN."-The
correspondent Of the New