The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1856-01-23
-[Ry REQUEST. ]
From the Raleigh.Rssi.tor.
B.NEiNG-INrERy.L IMPROVEMENTS.

tNo. ~
Va. EntroRi 10 resume our subject, &c
And that On the assembling oithe last Genes
raj Assembly, there were ten Banks m OPP
Grafton within the State, with en- aggregate
capital Of rs .ssi,T5a. Two q these. /" the
Bank IF ne State and Z the fgnk Of Cape
Fear with capital o. Gl.so0,00o each,
would, under their charters, have expired on
tie ist Of January, 1850, lesVlng N esls.
tcrce. to expire 81 limitation u their several
charters. Il different intervals between that
ard the ist January, 1850. eight institutions,
with 2 canita ct less ;haI two millions and
sha!t. This amoeHt 81 Baking capital, u
mast ~ admitted on al!hanas, il inadequate
10 the wants OF the State. Indeed, the rapidly
increasing wants of the community, proceed
n, from, tnc extension ef cur.improsements.
reaaire an increase, rs,her han dimInutlon,
of banking facilities. predict. as'ne future
will verify, that the opening up OF commuh'-
cation between Beaufort and wilmington,
with the interior of inc State, will 50 augment
their trade as 10 sise Tie Banks command Of
ampch larger amount ei exchange than they
have heretofore had, the most profitable part
and substantial basis 81 Banking operations.
And these gratifying indications Of growing
nrospcri;y Justify TIE belief that eTcn Gle,
600, COO of capital gay De prc1tably employ
ed within the State, IN less than ten years
from this time. And sh.se, understand,
were The views Of those memhers q the last
Legislature, wbo opposed The re-charter Of
tbs old Banks. They sought not to oHerturn
the sYstccl, AID il pcr;o! Of general embar-
rassment and eeeuniary distress, exiermInate
tAese institutions from the land, or aggrasats
the evils Of tie pressure BY forcing with
,lraw.l Of the hank notes then n circulation,
hut merely to take advantage Of the occasion,
ana force this interest 10 bear Is due pionlr-
lion II the public hrr,heas. and contribats ITS
equal snare Of taxes required to meet the
exigencies Of the Treasury
The stockholders IN the old BANKS had en-
loved Tire itnmunities Of barking fer great
number III wears. and with thei7 principal
houses in Wilmington sGt Raleigh, and
branches scattered all over The state, they
stood n Z pusitien 10 exerta commanding IN.
tluence ever public sentiment, g we'll as over
the currency Of the STATE. Fer nus purpose
thew were most ad,alrabiy constituted. The
director, Of tie principal Banks. selected from
the persons residing ~ tnese locaiities, ap
point ard retain a general supervision ofeE
The oE,cers Of the branches and agencies, and
thus were Institutions created in particular
sections with power 70 reach cut their hands
and operate upon the puele opinion 81 ether
sections al pleasure. should an o'hcer re-
fuse to DC their Kidding. lbeT possess tic
Dover 10 snpersede him with une that vii
aud if d conu.pnil5 exhibit signs Of rebellion
AGAINST this concentrated Eaaied influence
IL can Be operated on in various ways. ana
induced 10 return TO lis allegiance or punish.
ed for is contamacy. Give me the confFo
nf money anu yau eve me power. Win y
/ can rot oRly Eakc : rro:it, t.at draw ar1an'
me host OF dependents, 'she, 4 not irre-ist.
bic, will be strong helps 10 the execution
any rpiicy thsi | might propose to enforce
such are nv sOnsiotiGEs upon this SUBJECT
that sesily believe, Il invested with the en-
tire centred If The banking operations OF .h'
STATE, coeid 30 coaciliste the press AM
leading citizens. as % build ~ al iAteres
~ strong a. tie gosernaent itseil.
Having eRiosed these advantages so long
fhev were a. matter o. course, uawiiiin;
tosarrendsr witboHi Struggle. Power neye
wiIlinslY lets loose its grasp; and acting upOl
the maxim ;fat one favor deserves anntii
tr,p thev care sefure the legislature askiD
for an extension q thci: charters. and al IN
crease Il caFitFI. hRd II he success II thes
app..es.ieas 5t:s Banks we're deeply ipteres
led, sed ties bad faith lie surplus Or reye
nue. igrdl &c. -cJ.g00, wealthy, infuentia
s.cekhgIt,srs Throughout the Stale. pprlioI
Of whom held seats il the Legislature; Il,
fear. II gh excited and oppressed people
growing out 81 the existing pressure in mo
new mattsss tie prestige uf distinguished
names; a. approving u silent press, sn'l %
sucisl influence II lle city II AID them 4
pressing ibroash ,heir demands.
No sundsr tEen their Sill carried. Tn
oaly surprise s tat ;iisis opponents wrn
able q Cripple item "A the slightest degree
III their progress through iHe constitutions
forms 81 al enactment. Il sas interesting Z
witness, during tie struggle. The indighstiol
manifested and tie iWpauefte with nilici
Bank adyoeg.ss tolerated fhe opposition On'
even Went 10 Tar i. !, IL Fl iHr COMMITTEE
Who had the matter under consideration, tia
they did Ectask fe-chartr s. alayOr-tlte.
demanded ID, and dared tie Legislature g 9.
fuse II. 4nt,heris reported u have said the
the Oil Banks vefe strong eH0agl 10 ii
Senate 60 cut OF ihc lassrite measures oi %
opposing members. and tat they would j
90. II tie opposition wa- continued; While
third. standing ii familiar relation 70 90
81 tie Iauks, russ 10 hi- place AID moved u
repeal u an impnftsu, bril- shicii bad prev
olslt passed, 3. pGnishneat. - stated
him. Epnn memhsr WHO had Natmlg Bt.e
III passage, and ieit great interest ~ u. SO
cess. faf is aDstIBste resistance Of The "isl
a. al tho pspfs. aud a. further means
forcing these hank thartsts through, de54i
vas limited 10 TIL mingfes, iae raifs d y
lloas, changed. eisiug 70 these bills pteiei