Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-04-07
THE CHARTERS OF THE NATIONAL.
RANKS.

In February next the charters of large
number of our national banks will expire,
and it is of the utmost importance to our
commercial welfare that Congress should
make careful and efficient provision for the
e1igency. The subject was brought to the
attention of the House OH Monday, but the
requisite two thirds vote to fix day for its
consideration was not obtained, although the
majority-l22 to 73-was sufficient TO show
how the subject will be disposed of when ii
is formally taken up. The ayowed motive
of the minority was hostility 20 ssF>em
of national banks. What they wt{ = @5Bsti-
tute for it was not defined, except that Mr..
Bland would substitute silver dollars for bank
notes. How he will persuade people to carry
severe pounds of his dollar Jumps instead
Of So, $40 and $40 notes, he did not explain;
but he would have silver put upon what he
calls a parity with gold. If the ladies
when shopping take with them
boy with a wheel-barrow containing
the silver necessary for their purchases at
the dry-good stores, will that promote the
parity? The dollars are lying by the mill
lion in extensively constructed vaults; bring
hem out and force them upon an unwilling
people, subjecting them to Inconvenience and
vexation, would that promote the parity?
Would Vierna, Paris, Berlin, or London
receive silver at ia parity" with gold because
every banker, merchant, private citizens, and
certainly every lady in the United States was
denouncing it as an abominable nuisance?
1t is evident that there are other "cranks"
besides GuiieaI, and some of them got into
Congress. The House Committee on Bank
ing and Currency has bestowed much labor
and care in preparing a bill for the regula-
ton of the banks, and both the secretary Of
the treasury and the comptroller OF the cur
rency have given it their appreciation. That
bill provides that when any bank desires to
extend the term of its cooperative ex-
istence it must first obtain the ap-
proval of the comptroller, who will
when considered desirable, order special
examination into its condition. When the
charter is renewed the bank will remain
under the same liabilities and restrictions as
at present, and the advantages of the exist
ing regulations fairly carried out the public
very we'll understand and have given them
their confidence Slowly and solidly as the
years have passed that confidence in our
national bank system has been gained, and
with it experiences of inestimable value;
clearinghouse have been organized and
home and foreign connections formed that
wonderfully facilitate commerce and keep
our financial system sound and equal to
what is required OF it. Is all this TO be lost
and forfeited by the inattention of Congress
to this grave and important interest, so vital
to the welfare of the people? Before>another
session of Congress can be held the charters
of about 400 national banks will expire,
exposing the country to a withdrawal Of
S7O,OO0,O00 of its currency. Can the
people look on unconcerned when matter
Of such vital interest to their welfare Is IN
suspension? Whether the present system is
to be continued, discontinued, or modified, is
for Congress to consider, but are its members