New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1846-07-02
The ConventIon-Report..


the latest news up the lime OF leaving the City.
The observation-disclosures.
Mr.. Cambreleng Report on Banking bespeaks
the essential narrowness Of the mans mind, and a.
the same time bis fear TO act upon his own convic.
tions. Banking-in which term we here Include
the issue OF Circulating Notes-is either right or
wrong-benefcia or peraicious 10 the community.
Mr.. c. evidently thinks i, wrong, and should there
fore have proposed its complete Introduction. He
ehrnks from that step because he fears II would be
unpopular not because he does not think il right
We. on the other hand, believe the existence OF
sound, well conducted Banks and the circulation OF
Paper Money under proper safeguards beneficial
Bu, We woald inss. On the stctnest provisions
agains, Fraud, Abuse. Insolvency The whole
comm unity has deep interest ia the soundness ana
stability of,he Circulating Medium. and has r'sh'
to prescribe conditions calculated fully TO @core
those results |, is hardly possible to be too risid
in this respect. If sla5 in NewYork State Stocks
will not amply secure the redemption OF e4VV III
Bank Notes then let US have si3O' or even e"'V'-
Let us be sure ask enough
If Banking be perncious business nee linn
selling or keeping a Gaming house let US nave ut
terlv extirpa,ed If. ON the other band, It be iaud
able, let us not useessly wanlonly iasien cnaih
and bn TO the leg OF every one engaged In It The
reaosition of the Individual Liability Oh every
s,ocsholder in each Bank after the State has taken
care 10 have ample security for oil Issues IN Its own
Golfers is an act OF pure hostility 10 the business
twill no, make the Banks stronger but weaker, and
more liable 10 suspension 1t will change the char
acter OF the business and drive out OF it all men OF
moderate means. The farmers mechanics and coun-
try traders who formerly took their few hundreds
thousands each of stock in some Bank, will be re-
PEELED by the requison that each must hazard ali nc
has on the SUCCESS OF the Bank. though holding but
hundred dollars in H. On the other hand, The wealthy
will say, when asked to subscribe " the terms are
unequal and unfair You, sir, are worth say 80 Ooo'
and have invested 81 900 in the Bank you risk hive
times YOUR Investment If take $1,000. my risk
will be one hundred times yours my chance otproht
no more Than yours. | AJAX an equal chance The
rich man v ill establish Bank by himself or IN con-
junction with two men OF like means. and the
young mechanic merchant wall be known at the
Banks only as borrower This is no, desirable
change Why should not the State secure, by actual
deposit In It's own vaults the redemption OF all cir
safcty of their deposits. drafts, &c. &c. II lndi-
vidual Liability DO saluary it may at any time be
had for the asking. Nobody is obliged to deposiic
elsewhere than with persons or institutions based
upon this principle. Is there sufficient reason for
peremptory interference in this case with mems
preference as to the mode of doing their own Dus
ness
Gen. TALLMAEGE's Report or draft Of Bill Of
Rights is generally good, though some OF the aver.
menls seem cloudy---indefni,e. Sec J. ought 10
forbid the Dislranchisemcn; OF any c,zeDs on ac-
count Of their Color, though we fear it will not he
70 construed. Sec. a. we presume will establish
imprcgnably the right of iugiiives claimed as Slaves
TO Trial by Jury. The butts and excerpts are
rather TOO numerous and potential generally. Will
Sec , prohibit The future Imprisonment OF debtors
for costs oil Court Sec. II, providing That Mar
riagc shall not transfer the wilcs property to The
husband, contemplales grca, change, and we hope
will work well. But is tue husband to be RESPONSE.
BILE for the wfc's debts when longer entitled to
her property This must be considered
BY the way a friend urges provision dcclar-
ing the right OF plain spoken citizens 10 have all
laws and legal documents printed only in the Ian
guage of the Country. lsnot this reasonable He
says tho lawyers do or ought to understand English
while he md millions more do not understand law
Latin. Is no, his suggestion reasonable Yet we
see Gen 7. has embodied two Latin phrases in his
Article