Daily evening star. [volume] (Washington [D.C.]) 1852-1854, 1854-08-16
wAsH1xa1oN Nxws AND oossrp.


WARRINGTON NEWS AND GOSSIP.
Whoa to Pay the Piper Seeing in the
Uni0n and Sentinel complimentary notices Of
new bank which Is proposed to be started IN
this city, to be called darlington Bank on
an alleged capital Of 500, 900. the names Of
the contributors Of which have 80 far been
withheld from the public, We deem 1t out
duty to enter our protest against any such
concern Under listing circumstances. We
have waited few days in the hope thst those
journals which have seen fit, indirectly, to
endorse the undertaking. would give the pub
lie the names of the capitalists Is said to be-
connected with it. As the public have not
been 80 favored up to this time, We wait no
longer, least the ignorant may be burned
through our apparent negligence. 1t will be
remembered that the people Of this region have
very often been badly injured by irresponsi.
BILE or felonious'y managed banks Of various
degrees ON concerns purporting to be based
on heavy capital, down to shin plaster. mills
issuing st cents notes, modes.ly purporting to
be no: only redeemahe in sums of S., in un-
current funds, but also-"g good 70. shave. 1"
The last clause of this obligation has been
faithfully fulfilled in the case of nearly all
such banking speculations among US They
have. indeed, proved ''good for q shave ="
That is, for shaving the community, with q
vengeance. As the law now stands, or, rather
as It has 6esn ADMINISTERED By tho grand
jury Of the county Of Washington, who have
presented no one Of the many parties who have
notoriGusly violated its spirit hero Of late
years, any one may issue in this District any
amount of paper purporting to be currency,
without possessing dollar Of real capital
We have four banks in the District of Colum
bia-the Bank Of Washington, Patriotic Bank
Bank ofthe Metropolis, and the Farmers and
Mechanics Bank Of Georgetown-which are
long established institutions, having once
possessed charters Their assets are known to
all. Each stakeholder (partner) in them as
they now stand, is legally bound to thei,
creditors for their obligations in the whole
| amount Of his or her property. They
are managed by we'll known men of sub
stance, who have something tangible to lose
in case Of difficulties in the tide of their affairs
Congress, in failing to reoharter them, has put
| it in the power of their managers to issue ae
| many notes as they please, without increasing
their capital or requiring deposits of securities
| of any sort. 1t has, however, accorded q
check upon over-issues on their part. by leay.
| ing them go situated under the law that every
| man and woman, owning dollar in thei,
stock, is responsible in all his or her property
for the duo redemption Of their issues. A
their stock has VIGOROUSLY, SO far, always been
| held by hundreds of substantial and responsi
Bile citizens Of the District of Columbia, this
security cannot fail to prove a certain guaran-
tee of the fidelity of their management 90 long
as the stock may be so held, if not so long as
| the names Of persons we'll known to be heavy
owners Of real ssta' Q here are gszetted as thei.
trustees or directors. Without pieteDding tina
We favor the existence even Of this state O
things In the affairs Of the real banks of the
District of Columbia, We conceive that 80 fal
as they are concerned, the community are a
present protected. No other nominal Distric
Of Columbia bank or establishment for issuing
paper as "currency" is conducted on prinoi
pies which afford to the community the slight
est security that they will not be swindled
TAG ED BY them-wheneYeri it ms 70 b. $780,
| prOhtabls 20 snoir managers to issue more
| paper than they can redeem. ALI other nom
inal banking (note issuing) concerns hero are
in the hands of from one to half dozen per
sons at most, who are alone responsible fol
! their doings. A dozen such Washington ane
| Georgetown shops have been started by swind
lers, in or from Wall street, of late years, and
| after publishing that they would redeem thei
| Issues here aud there, have failed, leaving
largo amount of their paper in tho hands o
innocent people Witness the cases Of tn
Bank Of Columbia, Bank of the Republic
Union Bank, DC 10. We mention the thre
above named, specially, because our owl
citizens were bitten by them to some extent
The others damaged parties at a distarc
al ozether, having arranged their Affairs o
false pretences to cheat persons at distano
f'om the District Of Columbia, only.
What citizen of Washington or Gsorgetow,
has ever realized dollar through the REDEEM
ZION of the notes of any such smashed-up- al
the-eonvenient-time District Of Columbi
bank! Who has seen the frst dollar in spe
Gle Of the capital Of the proposed new bank 0
Arlington, so placed that it cannot be couve
niently spirited away at any moment the en-
'erprising managers Of the concern-the I'm
mentionable owners Of the nominal capital O
500, 000-see fit to transfer it elsewhere, if
really exists, of which this community hay
no formal or positive knowledge? The nam
OF no person taxed in the District of Column BIZ
as the owner of six and quarter cents wor,l
Of real estate, has been published, 80 far, i,
connection with 1t. In thus cautioning on
fsllOw-citisens, we have simply discharged ,
dissgreesble duty, not having the slightest in
5iination to meddle with the private spscula
tons Of private individuals. -
| We promise shortly to take mp other 50,
concerns located, or purporting to be located
in this region; publishing the returns of tn,