Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1858-01-01

general interests OF trade, remain unchanged.
However diverse our opinions may be on this
subject, ii must be admitted by all, that the
banking and credit systems are so intimately
interviewer with the business and commerce
OF the country, that their sudden separation,
or rash innovation, would produce cOnse-
quences of fearful magnitude Thatth present
system of banking is perfect, is not preten-
ded; that 1t could be essentially modified
and improved, Will not be denied The pres
ent arrangement of the currency may and
Will suggest the necessity of reform, not only
in the system itself, but in the management
of our banking institutions
Unlimited credits by corporations or indi-
viduals have and will ever he an unmtira;ed
evil. They contribute to bank expansions
rash speculatiOns. eXtravagant living. aud ex-
cessive over-trading; always sure to be fol
lowed by runOus rcvulsiOnS. What the re-
medy should be, donot deem it my province,
under existing circumstances, to suggest; but
to be permanent and efiectual, it must accord
with the natural and necessary laws of trade.
The currency of country forms no excep-
ton to these laws, and should be left to theIr
operation and control, so far as may be con-
sistent with the public good. 1t is therefore,
that system Of free banking, based on un-
doubted public securities, and coin in such
proportion to circulation and depoSites as may
be deemed sufficient to secure their cOnver-
sio! iN'o specie On "ehiahd' win proper nm
h"tiohs anu icStiIc'l"hs' - ueened pIelerapie
W 'i'e present ~ s'ehi' lts introduction "oulu
|oitoN' many eAiStin- ABUSES NOT Only III me
>! S,eni "Srn' Dut Al 'he present hl"de Vi
p'ilhinS' lHe'e qutSt!oiIs' however WIN the
remedies necessary 10 prevent a recurrence of
the evils under which We now suffer, together
with the nature and extent of the relief, If
ttrs..,
the Commonwealth, to enable them to resume
the payment Of their Liabilities in specie, are
all referred to the wisdom OF the Legislature
They are practical and important business
questions, and such should receive your
intelligent consideration.
The present condition Ofour Commonwealth
. -, 49, 90 ,e''"' . passing re-
'n''ih' i, i, e'.io 'i'i ie'uisioii mas oc-
eu'i.ui H.in0lrS d S"SP1hsioii oi sPeele pay
Nn'n'o y 'HT p"uAs, hot ON! oI this oohl-
' nloh"taill, put oil al tie states OF the mon,
diiHihS Nle currency ana Affecting dlsas-
trously al the great interests OF commerce
anu 'le inuustrlal pursuits oil me citlzen-
LABOR Is without employment ana thousands
VI S'ions "1.i'c men are no" ASKING lor WORK
VI oi.au me ctuSes asSighe i0r these eVils
ai5 "iiilos' Hs ''iI9uS dS the interests OF pre-
~ % 49, "'io uhuei' i'dNe 'heii eApiicd-
In vel CluSe Vi causes tlel may
oL t 4,i II 70 heitner just nor proper 10
'""' ~ an 'ui present Hhahclal ana CONNER
cIaI uiS'TGsS 10 the banks ana Their manage
.H;lI mn. iio%eNer hluch they may nave con-
Ilpu.Gu' o'iier causes nave operated stlll more
ulIeo''! anu po"ttiuiiy TO produce these re-
anu 'ii,o''s 'ilclii his' III Importance anu
nnnni - 1n 1le ] ]iTSTho stSteIn Vi Iow Hutles,
No., j., 1oic iTLt1 -. =, 'oiH
,.,i,.,,' IT,. - -, -, ~ 'hc PiO
of1sto ,yas rasistaJ I,,. IN ~ u az
,,,,,,;,,,;t, -. 49,. - ,a nm
III her hlstory'
49,; ~ y % ~ po'ii plahches OF the
-'"''"i'i. .ic .t9 soGnuousiy n, opposed the
- 70 VI ''4'' ~. nc wis uhuer WHICH
','r '-is "eie PTsulcteu as con
l.-SiIeI :, 80, '"o" ~ Po"i. pu' O'heF couhSeIs
II. ot IL teps'i'i' anu 'nc III
uuStiy VI tno .oNnti1 eAPoseu 20 rulhou3
oonipe'i'iEr T, "l1h ti!e cheap iaoor OF foreign
HH'iohS' He G'SdstrouS effects of the repeal,
"e,e PoS'poheu ny 'he operation OF causes
" Meh uii''e' s'oT' oS every ihteIigeht citizen:
"lnlnS aoio'i PiouGoeu "h uhpTeceuented
GeIiiaiu ~ ioi uu' u iI"u>t"iiS, anu the Seld oil
o"ii, NJ 1t my nave "uoeu 10 the
ei ~ % '"' P,'oi0'S' anu contributed
IT'S luIi shdIc III producing existing financial
anu oii".i i"ssiiielt, III mllilons,
suPpiieu 'hc ileahS oi paying the overwheiin-
ing balances against Us on our lorelgn lmpor-
tatlohs' onueF the present system OF low
uu'lgS' 'Le eActss o' imports over exports
mas pech pe!olu tre 1I most eAiraVagant wants
o' ,he 1ounu! ine. nave peeh enormous
anu iuInuus-ue ues'iucti'e oi domestic INDUS
,f4 anu INV ot'iiis 'ne hole hidnulactnrer and
nome il1or' III one common rum We nave
Iilppi'eu hloie -, man We SoIiu pay lor' ana
h,uch NOR 'ii'n we necueu. fehhsyiVaiila
aoouii''o III iioh oIo tion anu us ihanui'
lures are justly reSdiutu as important tIe-