Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1863-09-03

Fl that the onslaught on the bsnks where most
OF the nations moueyed capital j. treasured.
vol &c commenced after thi. rockies fashion.
The heal Of this department set Al ~ lor tbs
vers purpose. openly ruuonsce- thst he ~.n rot
even show these banks the little CT zee siven
them J he At itself. eEceps upon compl nj
Bat My TINS hostility - spund. wel-n "a gel
State banks, u there IL no necessary ant 'gonism
between the systsmsf Even this is no longer a
State secret. They institutions" exclaims
the Comptroller. "over which the Government
Can exercise no supervision or control =" This.
then. 4 the osjecs OF these schemers They will
haze no banks nor bankers, but such as the poll
tcians At Washington can supervise aud control.
The old institutions were not facile enough for
partisan u-es Capitalists were willing u lend
their person, Influence 60 carry e'ectIon. but
they bestated about placing their whole banking
machinery at the Disposal of the wire pullers.
Hence the "sntagonism % The Intention of
the new Law. this officer elsewhere declares to
be, 70 provide for National Banks. which
should be subject 10 Government supervision aud
control"
= He warns the existing institutions not To break
up this pleasant and profitable arrangement. by
attempting TO thrust themselves into the circle.
With desire to rem,n partly under State and
partly under national control II thew insis, NJ
on Is. he admits that be must obey the act. but
they will find no favor Al his hands He declares
that he will FIRST supply bic pets with currency 90
that he cannot consider their case at any rate
until next yeu. Before this time he hints that
"a judicial decision or an authoritative opinion.
my cut them OF altogether He plainly tells
them that eli would be better to wind up their
present State institutions. and organize nes rs
sociations. independent of the old ones"
To show how completely these State banks
some of which have been landmarks amid HI,
severest storms which have marked the century,
are 20 be blotted out without even n token oi
memory, we will bring forward at present but
one other leaf from this startling correspondence
One qucstioner, who seems TO have foreseen how
futile would be any opposition TO this despotit
crusade. asks. tremblingly, whether by surren
dering himself 10 national control he may no
still be permitted to retain his old corporate
namef The answer brushes out the last sparI
Of hope. "The Secretary OF the Treasury. afte
much consideration. has come TO the conclusion
that all such associations should have common
name" To use his own illustration. insie, q,
of the Chemical Bank Of New York. We ar,
to have the National Bank of New York. No
So Historic connections might have a restrain
ing power. and make the bank restv,
under the central control A name of renown IN
been known TO keep even an unprncipled maj
from a base ceei Hancock might remembe
his ancestors. aud blush at iniamy; but "Whit
man. No 347.' would have no such historic as
sociations 70 restrain him from bending the sup
Pile knee. 1T is not the name OF u bank, !" adj
this Scion. "but the character OF the men VIII
conduct its afiirs and the character of it, sccuri
ties. that give to il the confidence of the public
But how do the public know ANYTHING OF thi
character except by associating its excellence
with the same which has stood for more than
generation rs synonym for strength and integ
ritv
We submit that we have proved our case TIL
government intend TO force all existing banks q
wind up their afiirs. and TO merge their existence
even TO the abnegation of their very names in
grand Gordon OF associations. subject e. supervi
sion and control At Washington. In our mex
article on this theme. We shall show some Of tn
methods and purposes Of this control. and tn
corruption 10 which IL will naturally lead