The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1874-02-03
NATIONAL BANK INFLUENCE AT
WARRINGTON.


rial Saturday
Zone fact makes itself evident through
all the attempts to befog the real issues
the fact that the influence of the National
Banks is all-powerful at Washington, and
will, in the end, prevail. The legislation
which will eventually be shaped out OF the
various bills and resolutions with which
Congress is flooded will be such as har-
MONIES with the interests OF those instr
tutions and is acceptable to the imitation
lists. We may have q surfeit OF debate,
and many sound and wholesome prlnci-
pies may be stoutly maintained, but the
probability is that there will be at least o
union between the National Banks and the
inhationlsts which will carry the day---that
is to say, nothing will be done that will de-
stroy the special privileges enjoyed by the
one or defeat the projects of the other"
We trust that The Herald may be wrong
in its estimates Of the disinterested patriot-
ism of Congress. But we do not conceal our
solieitude for the fate of those radical re-
lief measures for which the country is
cry ing in its present distress. 1t would
indeed be most unfortunate and most dis
graceful as well, if that class OF citizens
who live by lending money, and who con-
sttue minute fraction of the popula-
ton, should control the financial policy OF
the country. Most men are controlled by
their immediate and apparent, rather than
their real and permanent, interests, and
while it is true that there is no antago-
nism between the legitimate professions
and pursuits, it is also true that men make
war upon each other under the mistaken
impression that there is some such antag-
onism. The class who live by lending
money will no doubt succeed better in the
long run il content with such modest inter-
est as trade and industry can afford to pay.
But the money-lender takes all he can get
usually. He IS interested in having money
scarce and high. The people who use it;
constituting the great bulk Of the popula-
ton, want it plenty and at cheap rates. In
rare instances we find men who are so
enlightened and liberal as to rise above
professional narrowness, and though
money-lenders or bankers side with the
people in behalf of lower rates Of interest.
1t is undoubtedly true that the National
Bank influence has been very prominent in
Congress heretofore. 1t is very natural
that men who possess valuable monopoly
should seek to hold on to it by every means
in their power. But no Congressman
should allow his private interests to be ar
rayed against the public when he casts his
vote. IF he does, such action is corrupt
and venal.
Nothing is more certain than the speedy
doom of the monopoly of the monetary
circulation now held by the banks. What
ever scheme may be fully agreed upon,
the breaking up of this monopoly and an
expansion Of the currency will form part
of it, Meantime, let the people watch
their representatives with sleepless vigi-
lance in their votes upon this vital ques-
ton. ts
In the Pacific railroad controversy mem
bers who held stock in that corporation
were not permitted to vote. 1t would seem
as if sense of propriety as well as public
policy, would dictate similar course in
the case of members interested in the Ma.
tional Banks while the currency questions
are pending. The enormous capital welded
by these institutions would indeed be a
dangerous power if unitedly and actively
welded in Congress to affect legislation,
1t will not be well for the banks or for the
peOnle that IL should he 81