Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1845-08-06
Farmers and Mechanics Bank.

the matter.
Farmers and NEecl,;, MICS Bank.
We copy the following extract from the Niles
Courier, for the sake of the judicious sentiment:
it cOntoins. There seems to us to be a sort o
jealous rivalry among The Wing Editorial Corps
in this State, any thing but beneficial to the har
mony Of feeling and action Of the party.
A Strife " no shall be the most entirely origiua
in his views, and, where originality is impossible
an attempt to present different phases of the
same subject. Our object is one, let our unlor
be perfect" A free interchange of opinions, and
mutual assistance in spreading our principles III
their fullest extent, should be always rendered..
The hearing before The Chancellor on the in.
junction commenced on Monday last, and IN all
probability, is finally settled by this time. the
stockholders. near as we can learn, have de-
cided TO $3.50 600 TO the capital of the bank. which
IN addition to the former capital, will make the
bank one Of The strongest in the west. So far as
regards the Farmers and Mechanics Bank, we
have more friendship for il, than any well reg
ulated institution Of the kind; but when the war
cry of down with all banks, is urged by the de-
signing and selfish, we feell that should be re-
miss in our duty, did we not stand for the truth and
right no matter der what shape II present itself.
We hold thai the credit system Is the very life
blood of The poor man. and without it, he must
look for nothing else than to be reduced to level
with the serfs of Europe, or the slaves oil the
South. Give him credit and he has energy TO
SUI nj auot every obstacle; give him credit and he
will make .he wilderness blossom as a rose. he
will 90 down into The depths of old ocean anc
gather we .h from amid her coral ree:s-he will
open the treasures Of the earth, and administer TO
the comforts and delight of society, he will plough
the frozen ocean ofthe North, or traverse the ar.
id of the South--he viii cause the busy hum OF
industry to be heard throughout the land. and
smiling peace will be witnessed in every hamlet.
The old CRY of 'gold and silver" is sweet sound
10 the poor mans ear ; but like The dead sea f,uit,
is delusive He must recOlecl that when our
circulation is confined to that alone. the credit sys-
tenn is gone, labor is reduced, our workshops are
shut up, and few, who have become wealthy by
accident or inheritance, will lord it over with
an iron rod. Suppose, for instance, that all banks
were blolted from existence, and what would be-
come of 90 out of every 100 business men in the
country? Having no capita! other own. and Eo
friendly power to seek aid from, they would nat.
urally close doors, and leave the field of competi-
lion to few heartless nabobs, who having the
wealth of the country in their hands. could control
the products ofhe soil. and in short time reduce
US ali to complete system of vassalage. Il may
be urged, that such would not likely be the case,
because competition among them would keep up
the prices and thereby sustain the farming com
munitv. This is a weak argument. IL Is our ma
ture, disguise it as we may, to thirst after power
and place, and the fewer the competitors, the
more likelihood IS there of fair and mutual IN
derstandi,. between them. Like the lords of Eu-
rope, they woulp league together for their own
protection, and with The purse Of the country IN
their own hands, would soon grasp the sword OF
power and sceptre of justice. Then indeed. our
Liberties would exist only in name-and we should
have nothing to console US but the glorious recol.
Iec,ions of the past--he hor reality of theiprt s.
ent, and the dread uncertainty of the future hsto-
ry of our country. Let US be men not only in
name and stature, but in action! Let US sink the
parzan in the patriot, and sustain every instItu-
ton calculated TO develop the resources and indus.
try of our country. -ss.,,