Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-11-13
YANKEE BANKS.

One by one, the government Of NJ. In
coin is absorbing the powers ard functions Of
the several States, ard ccntral;zng all a!
Washington. We give scmc extracts from
Yankee papers explaining the late ac;icn Of
the government with regard to the banks:
IFsoa the New Yo-;s Jou -pa o; Conmerc..I
TIE BANEsoF THIS STATE CONDEMNED TO DEATH.
When We asked if it were wise 10 break
down the existing sound banks Tor tho sake oil
building upon their rules series OF new III
stitution5 organized in Il different mancer,
aad subject to other control, vs. we're tod that
no such substitution was intended. The Adj
minisration papers denied the truth ct our-
assertion when we charged that the Go crn-
| ment intended that the new pets should super
ccde all existing OF gan,zar!crs, ard sncered at
all arguments intcrdcd 10 show the antagOn.
| ism fEreslaado%ci by the action Of the Trcasu-
Nv DEPARTMENT. Tie charges and assertions
thus denied arc now cIf3ially established.
Hon. Hugh McCuilcch, appointed by Sccrc-
tarv Chase as the official head Of tho new sys-
| TEN, under the fit!c If ''C"mptrOllcr II the
| Currency" has, in frank, manly document,
! much to his crediy, openly av"wcd tho intcn-
| ton of the Govcran-n: T. cs.iS'Iah the rev
system entirely AZ TIE expense OF i;.e o!" &c
two kinds Of l.anks are rpt cniy not - share
equally in the favor Of the department, hut
he old banks arc ted distinctly that they
must wi-d up tier affairs an! 90 cut Of eIis-
lance.
The prominent Republican pararf do not puh-
lish this official document. anI let those friends
and stockholders Uf tie old banks who read only
;ieir columns know = hat il in store for th-In.
I,,,f u: ~ 3
| u lcasant theme by clamor about "oppostion 10
The Government rnd ai!u!c 10 The proposed
chancs. when driven - msntion il, Only in
t+oc unmesaing g.:!cra!i:iaS intended to DIVER:
attention from the Importance o: the question
at issue.
FROM ;Ha hany hrsu:
What is tho policy OF The Government in res
gard 10 ha,kS Of this and other Stats IheY
are frankly told 'ha; they aud j! (!ho system Of
United States l'nnks) cannot exit together, and
that j, 'rcgrircS II" spirit ri pr"Ph$y 10 seq ,eE'rh
class ii tie IRE institutions Is d1rad 10 idf: "n1
the banks and bankers IT this Save ctrnnt CON.
pain thai "hc handwriting on til; wall has no:
i,..n made sufficiently plain 20 them. Bat. III.
dependent Of banks md baukers, hc penphc Of our
S,ate have m interest IN ih- matter, and pride
enough in tie financial system regulating their
| banks-a system which they have perfected
not wiling to sec il crushed 0ut by ii" Hs'ump'
| t,nnS or decisions 81 :. Comptroller IF the Cur
| rcncy. or o.her Washing nn official.
These interested IN The banks Of thi1 great
Observation-Disclosures. which mt the darkest ollr
never held back. bat have contributed inCre 10
.hr financial sup3rrt of tie General Government
iar these Of IL. other STATES. MI pat 'ogcthcr--
whether interested rs directors, - ct,i:'ls or
| as shareholders have y vote poie"'i.; and in
| Gucu:ia!. winch they should raise in their o"n
behalf Il tilrv would preserve their institutions
from Ire destiny prcpEesicd for them. How that
voice should he .aiccd. let intuition answer
Certain i i, la. i; cannot be mai. "fsctu a by
the support OF those princ.p! o: concentration OF
power ~ Washington, "hcI is cna of the inos
| Distinguishing characteristics OF the Republican
party.
fF.csp the NV York Srr
At breath the Jscksor;an cub treasury 'r,-
| tom will be swep, away and tho business csthe
| Governments. be again transacted by thousands OF
bankers, whose only merit consists IN having
converted their banking caDi'al into the bonds
of the Genera! Government. The VIII become
the SHANGHAI agents of IN. Secretary Of the Treas
urr. on the strength Of the amount Of unce sam
Indebtedness they may have deposited with the
Comptroller Of the Treasury. Tery pretty "sy
OF lu!nr busincss--in: Il Inan - issue lis o"n
notes AMI then guarantee the notes Of other par
ties, OH tho collateral aacu'ity Of his notes, dafcs>
ted in his cwn hands Tor ii:at purpose lndc'
The new banking law, any favored hank VIII
constantly control large SUNS without liability :;
aud il, some fine day, No ." cGi:apses,
Uncle Sam will have hi. own Indebtedness to
fall back upon, TO Iud"e the claims OF the nm
fortunate bill ho!,l@rs OF bank no. > or ~
This will Involve the Gale Of Government bonds
at all seasons 0: the year. and II The collapse oc.
curs ut an unfayvrabic season. G)vornlncIs-or
rather tie taxable inllabit4ii,ai!ii have 20 sui
fer the loss incurred.