The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1857-04-14
BANK OF rHn srArE-

Some one over the signature Of "A' is
publishing series of articles in the Raleigh
Register, pointing out what he considers
Objectionable features i'll the act to rechar-
ter the Bank of the State cfNorth Carolina.
Although the writer does not directly re-
commend the rejection of the charter, vet
his tone and manner of argument shows
conclusively that he prefers its rejection.
In reply to some remarks of the Standard
reviewing and combating his objections,
the writer says:
ga" cannot consent to act himself or to
advise others to act under the apprehension
(if, in fact, there be sufficient cause for it,
that the Legislature will not tender more
favorable charter. If that now offered is
rejected, it will be done very reluctantly,
and only under high sense of duty, and
conviction that private interests demand it.
Certainly no impartial man can impute
| blame to the stockholders if they decline
proffered bargain to vest their capital in
| Bank, which. On being agreed to, will bind
! them hand and foot for % years, without
any right to relief, if, in their Judgment, the
investment of that capital can be better
made in many places out of the State, and
I
''A' does not feel any such alarm at the
! idea of declining TO acceptthe charter as you
seem to apprehend. In that event the pre-
sent Bank will doubtless do its current and
regular business to the last hour of its ex-
istence in 1860; and then it has three years
to wind up its affairs. In the coming year
another Legislature will assemble, and be
able, perhaps to enlist in another Bank those
capitalists who may desire TO become stock
holders in this. In the meantime g A )"
knows that the present stockholders will do
nothing to embarrass the finances of the
! State; but will, as at all times heretofore,
| afford every assistance in the power of the
bank to aid the treasury, and make its own
exit as quiet as possible"
We have no idea what will be the fate of
the charter at the stockholders meeting,
but we think it is plain that certain individ-
uals are DESTROYS of having it rejected,
expecting thus to extort from the Legisla-
ture a more favorable one. We believe
they will find out their mistake. The peo-
pie should not be SO dependent OH any
monied institution as to allow it to dictate
terms and force acquiesence in conse
quence of their dependence. If such IA
game as that Is to be played, the sooner the
creditor learns to live without the Bank the
better it will be for him and the public.
We have no ether wish to see the charter
accepted than that those who apprehcnd
Pecuniary embarrassment may have longer
time TO meet their liabilities. Were it not
for the fact that number will be pressed
if the State Bank goes into liquidation. we
should prefer to see the aristocratic concern
wind up, and its place occupied by another
and more liberal institution.
We think with the Standard that if this
charter is rejected, it is not probable that
any other, or further, or materially differ
ent charter will be rendered. This is sim
ply our opinion, based upon some knowledge
of public sentiment on the subject. And
we are equally confident that if tho charter
is accepted, such amendments as may be
reasonably desired by the stockholders, will
be granted by the next General Assembly"