Kanawha Valley star. [volume] (Charleston, Va. [W. Va.]) 1856-1861, 1857-12-15

+'{{1.l., II 49,
mi NIa al
y IL A1<
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nav erSi. otts hi, 4 s6ss1ilv 10 f3r9si
thS'lesb5i, which tl|sy hsvS taught.
10 Ill mend limo h Il iho d' II "a ths
eoxerntknt 81 I'll proper meIps Within
It's ppN6t, q nll|in allen hing Tie 1Iier.
I1gs 81 ne teopI ocea1 ioned Ga l|,e 1ii1
pension Or The banks. and q pFovid,
against q recurrence Of the name calamity
Jhioftu1ateiy either cllss 4 tAn ~ blu
iinls. Thanks Ttp The indepehd6n
treasury. the gos eminent has not sus
pended payment, Is L was compelled e
DOLBY thd failure pf llie hankA In 1897 =
II willcohiinus ID disChaFl,a IL Iiabilitiel
totle people IL geldand silrer. ~ dis
bursements IN coin, Nillpsss into cirenla
ion. and lnaterialIity assist n restoring
sound currency From il high credit
should We BIZ compelled % make ! Tempo
rary loan, Il can Be effected op adynnta
geous terms. This, however. sliAiI, /
possible, be atoided but, 4 non fhei
lie amount shall b. Inn TED % The loves
practicable sum. III
have, therefore determined sba
whilst no useful government works 81
ready III pgogfess shall Pc suspended
new works. not alread i commenced. vii
b. postponed, If this can Be done Witbon
injury ia the county Those neeessar,,
for its defence shall proceed as thotlgl
there had beenino erisis in l0Ir ni0nStary
affairs 1 n w
But the federal government nanuat DC
much ID provide againstla rccnrrence q
existing evils. Eyenaif 3insarmoantAbl,
constitutional objections did not exis
against the creation Of i National Bank
tfiis wonid furnish no adequate PfsEen
tive security The history sOf tho last
Bank 81 the United States ablndantly
proves the truth of this, ASSERTION. =
Sncha bank could not, Il i would. reg
nlafe the issat eand credits1of Fourteen
hundred State Banks III such = manner n
"a, prevent the ruinops expansions ane
conlractions 10 oer currency which 81
tlicted the country throughout the exls
ence Of the lalss bank, or SEIZURE " ngslns
future suspensionss I'LL i825 Eip etfori
was made by the Bank OF England to cur
tail the issues q the country banks undel
the most favorable circumstances. h'
paper ctirreHey had been expandedto
ruineus extent. add NE Bank put fprtl
all is power q contract itsia order q rs
duce prices and restofei the equilibrium 9
the foreign txel.al,ges. II according
commented system ofcurtailment pl u
loans and issues, IN the vain hope shal
The lpintt1stock and private banks q Chg s
Kingdom would be compelled to iOllo,s i.
example. it found. however. that " I
contracted they expanded, and ~ theend
81 The profess. 70 employ the language g
\ very high official authority s'whaievel
teduction Ct the psper cire.iit'lpn was 81.
frcted by the Baak of iERgL.ad ia 1926
MS more than male up By ths Issues e
the country banks
a Bulsa Bank Of the United Slasts would
not, Y 4 spuld RESTRAIN We Issues Y and
ians q The Sals 6plkS beeis;l5 III, ~ duty
~ rey utator n theclrrensy IDqss otter
De H. dtIert epilillct Win tle immediate
interest q ~ st',cS'iIoliers. 4 we *
pect one aren't 10 is.Straih 81 control an
ot'er tlisir interest," 81 must, :. beast y, s4s
deree 6e a,.'a;;o ~ i5tltt The direct.
'.rs la8Bank ntathe Ualled Sse.es w9vld