New-York daily tribune., 1849-04-26
NETWORK TRIBUNE.
Nyw.YORK. THURSDAY. APRIL 20.
TIE psfunct Canal hank.

That this State was for some ten years despoti-
c.,lv Governed by band Of sdrot and not over
- noliticiaps known as The Albany Regency
that among the devices whereby that Regency
,o,,;sed and fructifed its power was scheme o'
pol;ticsl Banking designated The safety r una
sv.,sm'-that the collapse OF this Banking Sys-
tenn with the consequent nuliity oi 'he cnaf'e'
.x.n,;ng nover. was the deatb-blov OF Regency
rale-these are facts familiar 10 all bat tne young
90. citizens Of our State. Since the BANK Soi
,an.ion Of 1887, power has vibrated IN our ctate
tom one marty 70 the other as is natural and
wholesome 10 free commonwealth, bat the po-
tent pecunisry influence which mac previously
chained it TO the car Of Jackson and Van Buren
has been scarcely felt or regarded. The General
or Free Banking Law Of s3s was necessary re-
solt of the PolitooFinanca tornado which had sst
before swept over our State purifying It's atrnos-
phere by dispeIing the murky vapors Of couup-
ton The Safety Fund System was part and par
eel Of the machinery By which the State had ior
wears been ruled, and naturally fell with It's au-
thos. Since then, repeated and powerful efforts
have been made 10 avert its doom and not without
hopes Of success since it had entwned itself with
the personal interests Of strong men IN both par
ties even while welded for the sggrandizement
Of one bot these efforts were fruitles and have
at length become hopeless. The successive e1-
pIosons Of several Of the institutions formed under
that system, emitting odor far worse than that
ofNationality have obviously settled the question
and be must be bold or a blind man who ever
again proposes in the Legislature Of New-Tork 10
revive this or any other system Of Paper Issues
not based upon sufficient and convertible secur-
ties, deposited with the State herself.
The failure Of the Canal Bank Of Albany IS re-
markable in many respects, beside that OF It's
being the last as yet experienced. It's origin. its
location, its considerable capital and extensive
business, the conspicuous position Of many anon.
ITS managers and fayorites, not 20 speak -
the disastrous character Of rs bankruptcy and
the injury If not ruin thereby Inflicted on many
have rendered this Bank and its adverse Tor
tones subjects Of very general interest As n
brick from the Safety Fund edIiice, It Will con-
time to instruct and admonish long after The
last Of our chartered Banks shall have gone the
way Of all perishable things We have chosen
therefore, 70 present IN tins paper the new
Report of its Receiver, in reply 70 certain reqm
sitions Of the Assembly which IS just through the
press and we believe has not yet reached our City
except the single copy which we reprint tins
morning We prefer to accompany 1t with no
comments of q personal character, since such
would almost necessarily be stigmatized AZ unjust
or invidlous but invite each reader to con for him
self and make ms own comments Very few
novels, and we trust not many Banks, open as
oGA I oil
read in silence aud indulge as we proceed ~ n
train Of quiet thinking. We believe that has not
yet been adjudged hbelous, even in tins State.