Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1856-09-29

open their eyes With The ea q becoming share
holicss in ordinary bank--n bank that would cd.
vance mcacy 70 Wholesale mcrchaat-th.i would dis
count the bills OF large shlpowaer-that would secep,
tho debentar"s OF q railway eomp.ny-tha. In short,
would transact la business by tens aud hnndreds Vt thou
sands a, single stroke But TO shese minds there IL
something sale In the retail merchant he Il specu-
lator. he Is industrious. honest og,rot man. conteus
with moderate po6ts and clear conscience In spite Of
his .du'e..'e"s bank. therefore. 10 b concluded,
which seeks it customers among hi. elias. pc.
culary afenvestmcnt, Il the gains should DO only
moderate and accordingly. lind among the list OF the
shareholders OF the Royal British Bank Just that cass OF
Perhaps speaking In lamcniable ignorance and II
80 ask 10 be psroned. but find great CONNER
cis names among the shareholders. Whether they be
there not however, certainly Hnd without number
the fspnstes widows clerks Custom house
ncsssngcrs siaoners. buffers artists policemen choose
mongers. and know not whom else. These were the
nnocsuts who subscribed the concern but tor al their
Innocence and all their caution the the bank
have had security than u they had con6d.d In
arstocrac saint specializing sinner. Tho Bank has
broker In the most disgraceful manner
Whoever IA 10 blame In the natter and that u very
difficult 70 decide IL Is perfectly clear that this bank
given way IRON combination OF the causes which led 10
the bankruptcy Of Strahan and Paul aud the failure OF
the Tpperay Bank The latter the mercy Of cor
tain OF the directors Who drew ill the bubble burst
drew on 10 without lmit-drew IL but per
son In the position OF director could draw. We
accurately informed the credit which Of the
directors Of the Royal British Bank obtained In the books
OF the company whose Ars they controlled and there-
fors speak with all due restraint But be nd.
mitted that In instances his credit vas moro than
Jnsunahie; and ~e only give the system by which .
director thus takes advantage Of his position its proper
name when ne say that IL to embexzlemsut. A
director is appointed TO his chair just clerk any
other unctonary L. Tor his wrgs and habits OF bust.
ness and h is not less improper ior him get aud
sive advance OF money from the manager than for
clerks to conspe lend each other Of their
spectye departments And here ne have an lustra-
son OF that inous license which caused the downfall Of
the Ipperary Bank 80 In the character other advances
We have the counterpart OF the insanity In which Paul
aud StraiAn dashed their heads against the wall They
lent money TO impossible RAILWAYS in the south Of Europe
and to unproductve coal mines home and in order to
recover the loans lent and MORE instead Of being
content with the hrs loss We shall know more OF the
transactions OF the Royal British Bank hereafter but the
same game seems to have been played in its parour
money sunk In Improbable speculation and sought
redeemed by sinking more, till last the bank fairly
engued in the Slouth Of Despond Il was ungulied aud
the misery great just in proportion modesty
the gains TO which the share holders looked forward
capitalists had been connected with il the might not
be 20 fearful The depostors Is improbable, will
ultimately escape bus hideous ruin has fallen on the
shareholders Of whom had ntrusted oil their savings
the small pittances OF old age to this bark Here yet
another warning that neither highsoanding pretentons
on the one baud, the humble schemes on the
other, are protection to the public; and that be
commence ever ~ great vigilance ought be still
greater.