The Spartan. [volume] (Spartanburg, S.C.) 1843-1852, 1849-02-06

that such a councxion Farfbty, when |
properly managed. blessing He govern,nen,
and to the people Of the State, City, RcpubliaI
Kingdom or Enpne, where they have been es es1
,ablishcd
The Bank Of England is strictly government
Bank Notwithstanding. the capital is owned byl
private stockholders. 1t is the great financial
agcn: Of the govrrntncn,-,ho receiver and dis.
lr!buter OF more than 60 000, 900 of taxes and
revenue. 1t is very true as the gentleman says,
that the stockholders would hc glad to cut loose
from the government, Ear the permanent
lnnn is concerned. amounting fully ,ellOOO,
900. Bat would they be- wiling TO give up the
disbursement of C 50.00oO00 with all its pecu.
mary advantages. would they hc willing to
resign their charter. and pat the Bank in lquda-
ton : pcrsumc there is not intelligent muu
on this side tn" other of tho Atlantic who
would venture 70 answer this question ALTERNATIVES
~ Alter all, it is not n question of Pri~uso--~-i--
vantage. or tho private opiui,n of Interested in
divdrals; but how fars the connexion of Banks
and State s, or is not Advantageous To lhe body
of the people. If there he any truth in history,
am prepared to assert, that the Bank OF Eng
land has hcen, the salvation ST the country, with.
out which, it would long since have become
Bankrupt, or have fallen under foreign domino
ton. or been the prey and victim OF restored bar
barSn.
The Bank of Franco. like that of England, is
u
is infinitely below 1.-THE difference between
francs and 1,0u,ds sterling. is mnch greater than
the superhcia reader is apt realize. Yet am
prepared to assert. that with all lis rNistortuncs
ors, and partial laures--thc Bank Of France
has been the very bone and sinrw Of the Kingdom
lis advances to tho gYernmrnt in time "t peril
have been Ike that ot the Bank Of Eng land. cn0r
mous-has sustained her armies at hom" ami abroad
-hciped 10 rcpel iorcsn invasion, and keep down
domestic insnrrrctIon.
What injury, let me ask, over realized from
the operations Of the Bank OF Venice. established
in the twelfth century and during the sadrs and
lasting till Venice ceased To be republic. None,
| sir. none whatever. At least none compared with
ts effects upon civilization and the civilized world
| The Bank OF Amsterdam was certainly a Gov
| crnncnt Bank and regulated the exchanges aovan-
| ,aCrously Of the civilized and commercial world.
Does the gentleman nhjcc; th, Bank. with all
| the good it has done. may do. No instance Of
! cularuN or dshpnnr has ever bcen prove.' upon
! the honest dutchncn, who administered its affairs.
| mig go on with the Banks of Harhurgh
Grnon, Berlin, Stockholm, aud Others showing
tha, Government Banks have generally been
Of the greatest advantage TO the people at large,
when thc cmo'umrnts Of the Banks went to the
of the people, Private Banks have nothing to do
directly with this branch Of the discussion. but las
a general rule, they have,alwnys been aptagonlsti.
cal the Interests of the working ppstion of the
community. | really do not,u6ders'and what the
1! gentleman means, whspha .legss: Nor'h Caroiinn
has proven the runo4s policy OF Gonnecting the
| oa,;,l =, ,h ;,,crests of the Staie with BANKING
;nt,;,n,;nn ,rpst he viii explain hereafter. and
hc ,hI,, ~ ,s,i,fy me. how,bndy informed i hay
\ been upon the subject Of sbankius in that State
| An ant. Bank party, found To prev all from my
frst acquaintance wlh he people of iiic section in
| which visited. 1t whs, so far as heard the de-
velopemen,s. srerss party question:. am sorry
ta say. that the deaoeyaLs made oppqsitioh to the
Bank, ons of'the Jhohltes. aud the prineipal one
they rode beioreth people Isay, am sorry 10
! nuke tins acknowledgement, because l am most
decidedly of opinion. .ubat this very Bank question
has settled the politics OF tha, State in IA or of the
Wings more siongly than any other. whether of
| Il general 'lucai character. Whiggcry finally
| ;runphed oyer the Democratic humhug. in the
| winter of 1S4 Since when the ami Bank qncs
tion has been dead as Julius Cesar Democracy
has not yet recovered from the false muvcs Of its
leaders insreation this qicstion. In fact. it
| made grca; mistake as did un. of it's distin-
guishcri ndhcrcnts who IN public speech declared
g" that Nodhs Exploring Expedition had given To
| world. this continent in general, and the great
State of North Carolina, in pnrticnar"
Ih's Is the history OF the Gc!ent Of the anti
Bank party in North Carolina. The State owns,
| | think, one third of the Capital of the State Bank
represented in the meeting of tn" s;ockhnIjcrs by
the Bank had begun to eirc the political parties
ot t'e State, as well to excite the fears of the
stockholders. lhc prssihert of the institution
with that sagac'ty for which no has ever .,ern dis
tinguishcd proposed to inr annual i,iecting of the
stockholders. that a resolution <hOuid lie passed,
Offering. If the State woud instruct the Treasurer
20 vote for the measure. 10 resign their charter r
and put the Bank 'nto Immediate Hunidarinn
PThis resolution was adopted. and laid before the
! Legislature Of ISL Iis put oar brother dem
"crats into o"chcr. They neither dared to ac-
Lc"rt D"r reject The pcupastten---Ik.,t koo-,--
II IS SUPPOSED agreed To differ, at least they did
differ about the terms OF accrptancc-took no def
mite action. and the question sunk into iusign6
| cnnce in the view of The democratic party In
l"rs point Of view a!0nc the gentleman assert
that 'I" c'nncxinn between the Bark and State
~ North Carolina vas uriortunate. 1t confirmed
the whjG ascrndency, and destroyed the demo
craic h"hny. .-a
Tie flIc oi the STATE Bank Of Alabama is not
rnilcd - any consideration in this argnme nt
Tint, mere loan Office, conducted upon
H.: most G''rogogical rcgn!aiinns, involving al
absolute Necessity of failure, protng hut the
rcck less and insplvcHt sprcudi0r and serving the