New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-02-15
4 NATIONAL BANK.

Mr.. Charles Gould on Tuesday evening res
an interesting paper on the subject Of
National Bank before the Historical Soc.er
at the Societys Rooms in Clinton Hs
The necessity for some financial system WORT
Of the name Mr.. Gould considered to be ever,
where apparent After but a years war expe'
rence the nation finds its credit impaired and preys'
lent dis,rust Oh every hand. Temporary expediepta
might be found in the Issue Of Treasury notes, wi
contingent legislation which Congress was proyi
ing; but remedy more permanent must be founS
Ind National Bank, established partly on the
ulan Of the Bank of England, he believed woule
urove 20 be such a remedy. Mr.. Gould pointed ~
The existing pre- udices against such an institution
PREJUDICE. mainly arising cut Of the history OF
United States Bank. Bat 80 there Is no power
no institution, however necessary, that is not LA
Ia abuse be held that it could De shown in this cs-e
that the evil would be more than compensated BY
the good which must result The present banking
~ item of New-York was found TO work.
we'll but under such banking system az that
Of Illinois a general failure might al any time take
place inde peudcntly OF such rebellion eriss the
present and II mDst be in every Gaze where The
currency rested on a class Of etocks liable 70 suljf
deure cisiiou Tie evil was generally seen OF 10
banking institutions making rash investments an,
OF their currency being a. "A greater or less dscou
in distant parts, which, although & might be an ~
pdIeutly snail loss in the 81 individual holle
Of the notes, WAS enormous sacrifice 70 the con
try az large while the institutions themselves
unlrrqueutly prohted BY the depreciation. la
wav, then, he contended, could the changing wa
OF TIE commercial community be 20 fairly met as -.
. National currency, which wOlld be always Al r.
Under such system, CONNIE rclAl transa.uSLt
wouid naturally regulate the amount OF The cu,r
rency. Improper speculation would be eheeAeds
When foreign exchange WAS high, he lnlits OF ms
count would Do curtailed BY the natural s1'au'S N
interest rates, a. IN the Gaze OF tne p"liA " H'
gland. There would moreover, DC no fNsi!'
And he would have no advances on ierohhnuisos
nov enllat.r notes for security, nor any comnirsio2
Inn the rlsr rate OF interest, nor letters oi cret.s
nor notes raining over 10 DAYS. lie would have
ouarterlv s'atements and no advances on the Bans
own stock; and BY tlese anu plNe. PROVISIONS WIN
he .e.tid he would limit the discount business
he bank "a purey commercial paper. Adyealng
rhc oe,essity FOR the Government having ban
;,'', s.,u,y within the country, he polnIt
orf wherein i was deroeatory 10 TIA
ii nity OF tae country to be dependent, as Il vas
now on The London agency OF The Farlnss. Ina.
vsfela might have been tolerable, expensive rs al
wa. 20 long as London The only financial center
ior the world. Bot tie growth OF the hlsneiai
power OF New-fork rendered the resort 20 ioIS,ss
areucy 10 longer "A uecesaiiy. 10 the BmS "hi.h
~ XonM have established. Mr. Gould proposed 10
assign a opIital ultimately Of s!OOVUViOVo, 10 O1
gradually r.jsod IN sums Of SlJ,WV,OVV' eS.shulns
over - series oi YEAR, as me cicnia'io" " ZIG
islinp banks was gradually wltnlrIWh' re "oIiS
have the head Office IN New-io.A, WIN " - 70
cnrrcsrordiug in "A certain degree 10 thoee OF thS
B4nk OF Eptilnd in tue Provincial towns-the Gen
trel Director, 10 be composed OF persons chosen bs
Congress, aud elected by the stockholders in certAiy
proportions; and, in order 10 give the institution y
character of peinsnence the chdr'ef Hou,d 9v ~
dftv venrs. The usury laws, he considered, ehonlc
b. s6oshed; and no predicted tbat it would soon oN
found thai tie Bank would identity It's interests wita
tlose of the people, and tho financial puIposee
OF the Government as well.
Thanks were voted TO Mr.. Gould for hs papefs
and .ome subsequent Discussion on the merits aud
demerils of the proposed plan took place Mr. fe'e.
Cooper sho ing It's defects III the bshs OF lie history
Q. tho United States Bank,