The Arkansas banner., 1844-11-06

course of legislation, togelbs. eise ation of the Banks in mans elat States, as we'll as in our own ' ea deney to neglect the interes, ~ af aas z classes, while 1t protected H. l. aeR terest of the large dealers s s.s spy Hence the cause of that wild Iua ~' 4 latlon and extravaganza, Wbipp bspl'Aq prostrated the best interest of on ment of life. eVtg
 presume 1t is beyond Cont.
 system of Legislation has baa' ba0'eqq many parts of the Union. wbi.t h az it's object the advancement of ,ll 4l A the banks, enabling them to pr.a%. a,s m of favoritism by extending Iasa's' lssa., few extensive dealers to the 2 ala ir Selq clusion of those who operated 4u'l ns CT scale, as well as the com,na ppoa resaiicd disasterously both ta tullF %,' tise people. = His Sa
 Aided therefore, by the exDer;o past, we will be prepared to svoil sIe healthy legislation. '4
 At the last session of the Con-, ply, an act was passed pIaciog It,' ,ss the State in liquidation, and rooa 'ns calls to be made upon its ,le1.l a,lllg soundness of that act cannot ., ' , questioned. At the period of ;as U. the Bank was in state of spsa,. s specie payment, and its circola6opp to most rulnous depreciation, anji lied all incapaclly 10 resume t6e % 1s specie, or to redeem at an earIy asl Y! per. The necessity therefore, D,e..' rs.l09 the General Assembly 10 place ic' fI'''el ,bs S a condition to be wound up wilb ,' s.l' 2 as possible to the note holders, ';i' s., Bank has been undergoing the n,o''l 'll quidation, its circulation has bpss : from a large, to comparativsF VI. amount, producing at the sane linss.| oppression in the community. as % ,bs E e| Assembly could have anlicinaleJ
 The amount of notes issued h 4. Bank and branches, outstanding ., '! day of October last, aller de,s,'s1 amount already burnt, and the ssa| hand to be cancelled and burnt v,. l 355.
 Towards the redemption ofthis .,. are already in the vaults of the e.l Bank, Sl2S,000 in the notes of N Estate Bank and branches, to whch, 1| added the amount ofnotes eolIertei s] Receivers of the different branches sn,] last returns.
 Thus 1t IS manifest, that under tb. i, operation of the law, in much less lIaa years more, the entire circulation ul been taken n. AIier that period. lpI prs will be force9 ; pay then calls h, which, under the present aHangenp1 be impracticable.
 Had it been the good fortune of on zens to have escaped a most exiraos Hood of water winch visited us in as ing season, and had they succeeded ia | lhelr oadnary crops, shouldhas
 l t unnecessary to suggest the prOpr a4Y alteration in the act of liQnidatal ae overflow of our rivers having Bs our planters and farmers in d great m stances from making any crops, andi CTS not more than one half or one their ordinary produce, thus keeping immediate circulation al least one ml dollars, il Is rendered impossible, its me, for our citizens to meetpmcluah out creating further liabilities, the ha now made upon them.
 l therefore conceive 1t my dutg,io mend 10 your favorable considetat propfiety of so amending the act of tion. as to lessen the calls now mai the iebtors. Believing confdenfly, re eing them one thi !, or even q 10 damage would the by accrue tot 0. to the note holder.
 An act to settle and liquidate lhi uf ihe Real Estate Bank" was passsl
 
 last General Assembly, and approved of January, l843, authorizing an ea be holden on the lst Monday in Marcl after, for the purpose of electing ten whose duties were specially defined act. l regret to say, no such elerr place, and the patriotic intentions o gisiature have been totally fruslrad
 he condition of the Real EslsRI unknown to the community, yhos Is SO deeply involved in it's managaf will be seen however, from the Repg Auditor of Public Accounts, that th' amount of issues of the Bank and is S854,654 that the amount redes burned, up 10 the 30th of Septembe S384, ,730, and that there are in the' the principal Bank, ready to De S182, ,620, exclusive of the amount at the different branches since ths April. It will be readily perceived General Assembly, that the above gives only a partial account oi the of the Bank. Whether the properl' sets of the Bank are applied to the | objects of it's creation, l am unable but hope the General Assembly upon examination of it's condltonal of operation, its situation 10 be suel'' secure to il greater share ol puDll dence than it now possess
 lhaye but little doubt however, want of confidence in tle opeis' the Bank, as manifested in various of the State, proceeds more rom that all information in relation 70 2 been kept in the hands of lew lDa 2 than from any corruption m lis a0' 1 ton
 Nevertheless, it is due to the el' q, we'll as to the individual stockllolu's l salvos tbot tho Rank from its begll