Evening star. [volume] (Washington, D.C.) 1854-1972, 1860-02-25

IHE PROPOSED DISTRICT BANK LAw.-The fol-
lowing resolution with reference to the law cor
corning banking in this District which was re-
Gently proposed to the Senate by Mr.. Slidell, was
adopted by the CounAls of Georgetown a day or
two since:
A RESOLUTION in regard to a certain Bill now
pending before Congress.
Whereas bill has been introduced In the
Senate of the United States to prohibit all Como.
rations In the District of Columbia from issuing
notes or bills Of any kind for circulation in the
next. 10y - P
Be ii rsso'rsd by the Board Of Aldermen and
6odrd % Common Co~neii of the Corporation of
Gtorgefo,rn, That the said proposed measure is
repugnant to the well known wishes of the people
OF this town; that, however we'll intended Ii NAV
oe, IS founded upon a Misrepresentation Of the
true Interests Of our people; that would sink us
to the feet Of the cities which. ENJOYING the aids
and facilities Of legitimate banking are com
Petng with us for the trade and commerce upon
Whlcn we nave mainly subsisted for the last sixty
years, that 1t would restrict orr resources cramD
industry, depreciate the value of property. and
materially decrease our population; that, as the
long experience Of all the commercial cities has
taught them that a well regulated banking system
Is an indispensable auxiliary to their PROSPERITY
we cannot perceive why it is not of co ual and inn
Pera've importance to us; that we object to it,
also, on the ground that while its ostensible o.
Ject is 10 dlscountenance the circulation Of paper
money by our Corporations, it authorizes and
Invites the Banks of the States to food this Dis
STABILITY we know nothing; that We have no OBJ
Jecton to the passage Of any laws by Congress
which would place our banks upon greater Sc
curly than may be deemed now to exist. but we
dread the rulnous consequences Of a sudden dis
rupton OF system with which we have been so
long familiar and with which we will be salts.
ned until more wholesome and congenial one
snail have been substituted by the kind consider
alton and wisdom Of Congress.
And bs At further resolred, That the Mayor be-
ana he is hereby requested to present copy of
this resolution to each House Of Congress, as a
deliberate and most respectful expression OF tn.
views of this Corporation upon a subject of grave
interest to the people Of Georgetown
JOHN 7. BANGS,
President Of the Board Of Common Council
HUGH CAPERTOS
Recorder, and President Board of Aldermen.
Approved February IL, 1860:
HENRY ADDISON, Mayor.
This District being without representatives on
the floor Of Congress, is comparatively helpless
there In such matters. Nevertheless it is to be
hoped that the partizanshi p of honorable members
In legislating upon its affairs will be tempered
with mercy; or, in other words, that in such
case no experiments will be tried on this commu
nifty Its banking system doubtless requires the
regulating influence of due checks and guards:
but we cannot, for the life of us, perceive good
reason for refusing to permit institutions to exist
here, that in almost every other American commu-
nifty are regarded important to the general
prosperity of those engaged in business after half
century Of experience with them. The resolu-
ton, printed above, Of those who should of inht
be heard by Congress upon such a question, en-
braces plain statement of undeniable facts, that
deserve weight in determining the action of Con-
gress upon the case in point and we accordingly
respectfully commend 1t to the attention of those
who may lawfully iegislate upon the subject.