New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-06-15
NATIONAL BANKS AND THE PRESIDENCY.
H.. Th. Toyfs R~puJfisr1

There is an impression extending among the
pcOpc that, in the admitted hard struggle M IO
suppOrt Of the national banks THESE banks are sOne
100 number aud have capital OF over sJODUVVUOJ
effort they should make would be enormous Ihey CON
sttuto the most compact and powerful single inteiesI III
fia campaign should be their appariuon on
the field leagued au&iliares Of one OF the
cOutending parties, and united supporters or
one OF tie candidates, tho effect would undou9t-
odly be serious The ultimate result of the eXtla0rd-
nary experiment would be- either the reelection Of Grant
and the transformation OF the national banks WHEN had
done the work for him into fayorite appendage to
the semiimperia system that would follow or the DC
feat OF Grant spite OF the national banks, ana the
mercess annhilaon of the latter by the exaggerated
vctors Neither results is to be desired either
would be widely and deeply injurious 10 the country
Justice: and for these reasons tho national banks
will well to reflect carefully before they venture on
the experiment which popular apprehension attributes
TO them.
Ii IS possible that the banks may never make this
they mediate IL. All banks and financial institutions
accustomed TO keep aloof from politics. and 10 sedu
lousy avoid the popular resentments when partlcpa
ton in politics would provoke; and feel sure that
the national banks will not willingly invite the I'M
measured popular hostility when Their appearance III
this contest maTshaled and disciplined allies OF
particular candidate would surely arouse But II begins
10 he apparent already that the Administration party
expect their ad-tleir active and united support 9t
Grant. favored writer ~, D. M IN IN t the
situation, declares that among the most power
negro vote over 10000 strong, anu inc business ia
terests. 1t Is ntimated that the election OF greeley 10
system; that business men cannot al0rd 10 flsk any
change and tha5 il is their duty and their interest to
give tnelr united support 10 Uii', ~ P T, i'm onr
sumption OF specie payne anu any aeraloh NJ o1I
present scheme OF banking and currency, Az WASH
wifi have the support OF the national banks;
aud The Chicago Tribune, one OF tue warmest
and abiest defenders the national bank system shows
an apprehension of some such thing when it bitterly de-
cares that the Philadelphia Convention was made up
British patents for making Bossemer steel the men who
the salt iron aud coal monOpoes, ana the men VINO
due allowance for the warmth OF partisan EXPRESSION
this language reveals behe that the opposition VIII
have to contend against the national banks leagued To-
gethcr support of Grant and the Administration party
II remains with the national banks themselves 70
prove whether this belief well founded or not We do
believe they have taken any part yet In the contest
and do not believe they VIII Willingly take part In u
at all But they subject to the disciplinary authority
powers ut Washington aud there is an Impression
abroad That they viii be forced 10 take part VIKING OF
Whether this impression IL correct or not the can
Yass Will reveal The assumption that the existence OF
the national bank ~ stem Is inSoiye1 IN s frt tS
system Horace Greeley is a advocate OF 1t; so
are the Liberal Republicans; tho Democrats who
support him are least hostile TO it, We do not
call a single Democratic platform ADOPTED WITHIN tne
last twelve months In which opposition 10 national banks
is expressed. There many individual Democrats IL
IL true who dislike the but there are many indl
yidua supporters of Grant VINO dislike it, too-amoDg
them Wendell Phillips and Gen. Butler. II, then, III
this absence Of any danger menacing them, the
danger If they should wantOnly and unjusty as
perse the people with the suspicion Of "A hostility
to themselves and try the popular patience by coming
uto the field to defend hing that Is not a5saed IL
would unwise thing they could do III, WITH
out their full consent they should allow the powers AT
Washington to drag them into the held ana force them
10 fight candidate, they would nave cause TO re-
greet the weakness. Either act would be conclusive ar
gment against the system The hrs WOuld prove lhat
t arrOganty to control elections; the Other
would show that IL Is submissive ana dangerous III
| strument in the hands OF a single person.
IL Is the duty OF the national banks 10 patrOtlcaly
take their in this election and In all other cleo
lions without any effort open or secret TO control then
Their owners may they please they may all vote
for Grant and nobody Will have right to complain
But the banks themselves nave no Ig 10 M IN
the struggle and the less they have to do with 1t the bet
ter it will be for them They might bring powerful
support TO Grant; but In doing this they would prob
ably provoke still more powerful support Tor Greeley.
Their conduct would be antipopuar ana would III tle
ing could resist, and OF which the banks themselves
| would ultimately be the helpless victims