The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1857-11-03

" sHo DuhAS IN Inis place 10 sasp6noS In
which the opinion was expressed that sus-
pension would afford relief to the people
Well, suspension has taken place, and the
complaint is still heard that the Banks re-
fuse to accommodates. We fear that there
is greater disposition on the part of the
Bank officers to declare large dividends
than to relieve the pressure which is row
pervading the whole country; and La
bly, the remark will apply to the Be lks in
this place with as much force as to any
others.
The Wilmington Herald has so, re peril
nent remarks upon this subject, which we
adopt as applicable to this community. a
The reasons which actuated the Banks
of this place to suspend the payment Of
coin, were, that it would have been suicidal
to have continued to pay out to Brokers
and others their specie, that if might be
carried abroad to aid in sustaining the
Banks of other States, which were them
selves refusing to pay their liabilities in
coin; and. also, that, by .suspending, they
would be better enabled to assist the mer-
camille community. The public generally,
therefore, approved the policy of suspen-
sion. and looked upon it not so much as a
temporary financial dishonor, as a means,
in some measure, of effecting relief to the
people under the existing pressure. 1t was
believed and expected that if the Banks did
not have to redeem their notes in specie,
they could discount freely; and by thus ex-
tending the line of their discounts, they
could materially tighten the pressure ex-
listing in all departments of trade. But, in
these reasonable expectations they have
been disappointed. Our Banks have not
yet extended their line of discounts.
We do not know the reasons which in
duce our Banking institutions to keep their
purse strings SO tight at this particular
juncture. One ostensible motive, We sup
pose, is the fear that by extending their
circulation, they would, to the extent of that
increased circulation, add to the difficulty
| of a resumption at an early day. But it
would be better that this resumption should
be postponed, even for longer time than
some might desire, when by means thereof
and liberal policy on the part of the
Banks. the mercantile community would
be relieved in some measure of the great
embarrasments which now Cypress it. The
safety, the existence almost of commercial
credit ard trade are worth more than the
empty point CT honor involved in an early
resumption of specie payments by the
Banks. We do not advocate wholesale,
indscriminate increase of discounts; neither
must We be understood as looking to the
Banks alone for relief from the pressure;
but we have right to expect of them that
they shall, in a legitimate, commercial way,
put in motion the complicated machinery
of trade-we have a right to expect that,
in times like these, when trade is pros
trated here and everywhere, that they shall
not withhold such liberal aid as they can
we'll bestow in the direct line of their regu-
lar business.
Do not the Banks, which are public in
situations with chartered privileges, owe
something to the public for the privileges
they enjoy ?-and re they doing right now
in drawing their purse strings tight, when
all the avenues of trade are palsied, and
business is at a stand still a.! Moreover,
does not that brotherly feeling which sug-
gests fat dividends for stockholders, require
that some attention should be paid to the
business of discounts with reference to
this end now that the greed for Northern
exchange has somewhat subsidized Does
not policy recommend liberal discount
business, since the more profitable source
of revenue, buying Northern bills, must,
per force, from the up-turned condition of
things at the North, be temporarily, at
least abandoned
We profess to but little knowledge in
such matters; yet. it seems to us, that the
Banks are pursuing timid policy. Thus
far, in this crisis, our Banking institutions
have not met the expectations of the mer
camille community; and the question may
well be asked-''W hat have we gained by
the suspension of our Banks, since now they
neither pay specie, discount literally, or
furnish Northern exchange at living rates."
THE REAsoN.-The Columbia CAROLYN
ian publishes an extract of a letter from a
gentleman residing in Kansas in which it
is stated as a reason why Kansas was not
made slave State, that the Southern peo-
pie did not settle in the territory with their
families and negroes, in sufficient numbers
to exert an influence favorable to slavery.