New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-05-04

and the action Of the Board OF Control upon the TWO
points most interesting the public, the claims oil te
Bank 20 the Confidence Of the people might sa'ely Ies''
Inasmuch ho-ryer as the Bank, from its organl5a-
ton 10 the ,re-ent moment, has been assalled win
vndietivs and pernacity indicating more Oh per
sonal mo lice than regard for the interests % @
pie, anT these attacks are calculated 10 MUIR te
Institution where the character OF the chie assaan
and toe motives that have prompted ms acio sie o
und' rscod it may be proper Tor me 10 a'a w 'e" ~
thif onrorf unity-the only one 1 shall ever tshe"
d. fine briefly the position Of the Bank, ana houce
che ckarges deserving consideration met nave oeo"
urged against II:
AID first, will state that the present managers vi
the Bank and most Of its stockholders had no agency
WI atever in the passage of the Bank bill. IL improper
Influences brought TO bear upon the Legislature
which enacted it, the parties now inieresleo IN w w
Rank are not responsible for them without their arc
il became law. They found II upon the S'ats'e
Book and those who were not original subscribers rur
chased their stock Of those who had the eSal rgh 10
sell Ii members of the Legislature acted corrupuy,
m m. Condemnation Of the pub fall upon their heads and
upon those who bad participation IN the eorruron
h due however the members Of that legislature 20 'sle
understood that far as the inyeseation mas pro
crossed the charges against them so maze no
o@mp."ehaSIe ses,%ony win hardly disposed believe
that 1fe sb & pera2ed
tie discharge Of their high official duties bs whether ,ne
the Bsnt present constituted has nothing 70 DO WIN
This however leads to inquiry whether there are any
provisions the charter Of the BANK so ana
honest could not vote for them without oens ia
| biz to the charge Of corruption. LID. hL ., ;r,.
conceded that BANKS of
iion under institutions Ike ours are Of ihdPtsloe unsy
T hard money experiment Though the eIGoyernor seems
s 10 5s a. failure and those State. in which expert
has been tried now doing mos 10 encouiase invest
cbarte with satisfactory privileges and are deriving in To-
cated exchanges qckened bg 'iness ACTIVITY ana tne a
eoped resources the anticipated result Missouri ner mas
last upuded her long cherished duon ana OK
Now among ali the banking Institutions of the West not 70
the Union what Bank there that ha- enSyea 80 Pae q
Indiana citizen Of the State whatever may De h
IoSS. OF banning t sa o S c State BANK The benefit
the people Of Indiana for the last twenty years nave u
rrncy 1 a The bhoder and profitable .tofhder
Re estimated And to what the success OF me state
BY board 10 the peculiar features Of its charter
that her no: single reay feature the charter
the old bank which was approved Of and voted or Dy &
portion of those who are now engaged IN
the lat latter sy hsd of d an eG'' fy
knows who knows ANYTHING sbont the state Bang hai
b Rd Of Control and in the Branch Boards In former
its representatives stood i've 70 hteen u the latter three TO
seven The success Of The Bank Is onsby ewing
that the state Board had full control the business
Branches that the Branches though independent IN
their profits we5 ,Sa R %en who them
had both aud character to o'e BY INSTRUMENTATION oil
BY charter Of M Bank the same conera,s power
~ n - @ b .tn o eonsy safe men are managing their
sfs while the Of s d f1S m Ss n a
equal their stock in addition to IT. not only Tor ne
detts their own Branch on 9osG G eyey dsd bv
charter of the State Bank the charter Of the new Bank give.
it. stockholders.
In connection may be proper saybecsu.e the con
Bank in the hands Of citizens Of the State Of well
one in ten is resident. There is scarcely of the
twenty Branches whose ~ are mo.
capital Whether they likely TO put in peril their good
b6se who would dTed the State and swne the people
submitted to the candid Judgment Of those who know them
that contained in the charter of the State Bank about
denounced as consnns unusual dangerous privileges
refer power State Board to authorize the Branches
practical bankers and Intelligent business OBJ
nd IN the do what It oTd Do
will not probable increase the discounts of the branches
f @S d Ta osn BE: s in al ots. are .
hG Of R s9S ey os S are A92 n
vision similar to the objected to can be found the charters
1t is neither valuable dangerous provision Prudent bank
re WI use Ist as ,gy no ' re calls Of their
creditors whether dpoors or bill holders and no Intelligent
a'SP eF'ee any the use Of the one 'n'n the
But the great objection to the bank BE- found in
which the stock was said to be subscribed III some oil
involve the solyency Of the bank it's claims
public confidence. The provisions Of the Charter under
which the subcommsones authorized 10 close the
books soon as the required amount Of stock was
by the Governor in his but nevertheless
both Houses and became part Of the
laws of the State.
That certain persons obtained the Of the stock in
Of the branches and sold at premium Is generally
known and by better than the present but
it be hardly fair administration Of justice that the
only who really victimEed by the operation
should be the whose Interests the most Violently
aaed While provision under consideration Is generally
regarded Objectionable cannot learn that one has been
injured by except the purchasers Of the stock The sub
y nn psc who ap at the proper time end place
II they did they transceded their authority and the party
injured could have secured his rights by application 70 the
Courts The fact is admitted that certain persons did Obtain
portion Of the stock many Of the branches and make
indirectly from the pockets Of toe people 90 not eah laI
the people themselves particularly zEIeyed about IT,
Ills understood that Of the purchasers Of stock took
whom they purchased bonds TO indemnify them
against injurious legislation and uHavoabe decisions Of the
Courts suits then pending They indue b. take ths
by the " that the then Governor the state mad Doy
charge bank bill had become law his veto by
constitutional maority-hat certain members Of the House
whose had been recorded voting tor the M were ab
from indianapolis when the taken l. strange
that capitalists proyeray umd not knowing what erect
inch tat would have upon a subsequent legislature what
id t Iai hsr;G bonIS nav, reoued honds of those
Of whom they purchased 20 protect them IN their purchases
Honorable and truthful themselves they did not for moment
suppose ehdTg susceptible Of proof aud ct
had for his reputation you'd dare ~ make
cent UPON testimony had other foundation than the
no have been entertained 81 glatiye inter
unfayorabe legal decisions while few lawyers
any entertain the opinion that such fact could be inquired
into BY the Legislature or the Courts.
the bitter relentless that been waged
the Of It's business II he's commanded public
confidence. No institution better credit lts
current throughout the West while the amount of It's
deposits indicates its established character st home
Owned and sged by Of different political parties
will carefully avoid all party connections and party influences
purely business institution will be the aim Of those who
control 20 make an the State aud in the trying
times commercial crise that before US TO fur
he West held with safety and always converted into gold at
the pleasure Of the holder
All the BsnS asks is trialtha shall be condemned
rsr Isk fr tauiaA