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

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A National Bank and Protective Tariff.
The following editorial on the issues pre-
sented by the pending monetary crisis, as
we'll as the subjoined reflections of the lead
Ing public press referred to, we take from
the National Intelligencer of the 3lst ult:
... THE EVIL AND THE REMEDY.
We present to our readers in to-day's In
teliigencer, a number Of selections from our
contemporaries of the public press, all relat-
ing more or less Immediately to the financial
evils of the times and the remedy for them
that has been suggested by repeated and dear
bought experience. Certain journals Of an
other complexion, as might have been ex.
pected, have seized upon the present occa-
sion to wage crusade against all banks and
against erery species Of "paper money
There is nothing easier, and, unfortunately,
nothing is more cOngenial TO many, than thus
to indulge in vague and idle defamation
against institutions which, with all the evils
r that now attend their existence, must still
remain of indispensable necessity TO the
trade al d business intercourse Of the coun-
try. 1t is not unlikely, however, that, in SO
far as financial questions may hereafter come
up for popular consideration and debate,
public opinion will be found to oscillate be-
tween the issue presented on the one hand
Of National Bank, which shall serve as a
conservative regulator of our monetary af-
fairs, and the delusive chimera Of hard.
money currency on the other, which shall
be established on the ruins of our present
banking system.
This latter alternative being clearly i'm.
practicable, since none can suppose that ali
(if any) of the States in the Union will ever
consent 10 renounce the banking privileges
they have so long enjoyed and exercised, il
would seem that the expedient Of a Grea
Central Regulator presents at once the mos
feasible, as, under the circumstances, il
would certainly prove the most immeciate
and efficient agent for the establishment o.
currency at once uniform and stable. The
iacobinical clamor against all banks anc
against all "paper money" will be as short
lived as it is sensless, insomuch that unles:
some conservative measures be taken, sucf
as we have indicated in common with many
Of our cotemporarles of different politica
faith, we may expect that the admitted de-
fects in our banking, under the operation o
the same public economy which now pre-
walls, will, in the end, bring about recur
renee of the same reverses through which
we are now passing. The absurdity of de-
stroying institutions because of defects whicl
we are competent 10 remedy would be ap
parent in any other department of human
thought except politics, in which passion ant
prejudice are often found more potent thar
reason and experience. ...., ID.
From the Baltimore Patriot. Oct. 90.
If, as Lord Bacon says, call knowledge i
tie result of experience" the unjustifabl
and destructive course o; nearly all the bank
in the United States, occasioned by the ty
rants plea-nseessity-will make deep,
lasting, and an indellible impression on tn
minds of the American people. 1t is to b
deeply regretted that, amidst all the wonder
ful discoveries of the nineteenth century
real and imaginary, SO many Of our mer
chants and bank directors are still obnoxiou
to the charge that Lord Chatham once hurl
ed at Sir Robert Walpole, namely, that 0
being ignorant, in spite Of experience. Sc
we're language this to be used in an Englisl
House of Commons! But it is not too sevor
to be used in reference to the present calam
tiles of our beloved country, brought upon
by unprincipled spectators; and, to say tn
least Of it, unwise and unsafe directors G
our banks. A love OF wealth, or rather
desire to be immensely rich, has preponde
rated over good morals and love Of know
edge.
What is the remedy? Simply to trace el
/
fects to causes. In the days of the Fathe
OF his Country we had National Bank wit
D a capital of ten millions of dollars; our popu
latisn was then about three millions Of in
habitants. The Revolutionary debt wa
funded; national credit established on fri
: basis; the public revenues were honestl
collected and faithfully distributed; not
dollar of it lost when deposited in ban
: signed BY the immortal Washington. Ate
its continuance for twenty years the chart'