Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1857-12-03

wow, tne actual position oil Tins country nj
this moment is certainly not less sound than
the position of France. Who, then, will
take the initiative, which New York, and
New York alone, must assume, in acting
upon this fact with confidence?
From the Richmond whg of Oct 90.
The tendency Of banking institution un.
doubtedly is 10 over-issue; and it is the
province Of the Government to devise and
enforce such system OF checks as may
prudently curb this tendency, without un.
necessarily imparing the elasticity of our
moneyed corporations. During many years
we maintained that a United States Bank,
properly organized, would most successfully
accomplish this salutary purpose. We be-
lieved that it would exercise a wholesome,
restraining influence over minor institu-
tions, and keep them constantly sin the i'm
mediate presence Of responsibility" But
the Democracy thought otherwise, and we
bowed to the will Of the people. But sure
ly it is the duty of the General Govern
ment to give us good currency-one
whose value will not be nibbled away by
brokers at every step Of its progress from
Maine to Texas. 1t was for this purpose
that the power of "coning money and regu-
lating the value thereof" was vested in
Congress. And if, in consequence of the
growth and progress of modern commerce,
with its artificial system of credits, and of
the successful usurpation of the several
States in issuing "bils of credit" as the ba-
sis Of banking, paper money has become
practically the principal part of our curren-
cy, it merely oblIgeS Congress to adopt its
means and appliances TO the new state of
things, but does not discharge it of the pri-
mary and indispensable duty of regulating
and protecting whatever may be the actual
money Of the country. If this is best &C.
complished under our present plan of hoard
ing up millions of gold and silver in the
vaults of the Government, when every dol
lar of it is required by the urgent necessi.
ties of trade, be it so. We are welded &c
no particular theory, and, when the De.
mocracy are in the ascendant, we are thank.
full for small favors. But the people have
the right to require Of their Government
currency which shall circulate, at leas
throughout our own country, without ru
inous depreciation.
Correspondence OF the New York Daily Times.
\ My remedy for the past ant
security Tor the future is the establishment
of Bank Qfhe United STATES Of .An,erica
which shall be secured by the entire wealth
Of the National Government. | know wei
that the ghost of the old "Uniied State.
Bank" will instantly rise TO the terrified
optics Of old fogies, and that it will gener
ally now be considered only in party Uiew
But what, ask, has party to do with ,h
cause or remedy of these great trouble
which bow down strong men, crush power
full moneyod institutions, and dissipate larg,
fortunes as the sun does morning fog?-
What can Democratic, Wing, Republican
or American, Pro-Slavery or Anti-Slaver,
platforms and resolutions do to give brea'
10 the thousands of hungry or tens Of thou
sands of idle men and women throughou
the Union this winter?
With Bank OF the United States, hav
, ing its central department at New York
and also with the ablest fnancers Of th
whole country established there as the Cen
trail Board Of Control, its branches located
in the principal commercial city Of ever,
State, and agencies depending upon th'
branches located at all other places of suf
tlcient importance throughout each State,
) system of monetary exchange would be pro
vided such as neuer can be attained in an,
other way, and security against future fl
nancial difficulties which, with our presen
system, it is impossible to obtain. woul
have local stockholders and local boards Q
J directors, and managers for every branc
: and agency, subject, of course, in genera
policy 10 central control. This syster
would, of course, render difficulty o
suspension in the exchanges of the countr
/ impossible, since the bills would be at pa
l all over the country, and each branch an
agency be enabled to draw North and South
r East and West, from the centre to the cir
cumference.
This need not interfere with the sui
, treasury system, but in fact might be afili
{ ated with 1.-THE central bank, branche
: and agencies being made places of deposit
D Let me ask, briefly, in conclusion, whl
\ reasonable objection can be made 10 tn
plan for restoring our financial system TO
r sound condition which have here outlined
: That it may be made political engine?
!, does not follow, Does any complaint
e that kind exist against the Bank Of Englau