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A National Bank

A National Bank image
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Daniel Webster is oíten quoted as íaving said sometime since, that a Naional Bank was "a?i obselete idea" and ohn Q. Adams used the same expression ui his late Dedliam speech. It will be een from.the following extract that Mr. Webster rernains of about the same mind respecting a National Bank. This Whig 'ashion of waiting till the people t:call" br a thing to be done, before any efForts are made for its accomplishment, is a new political fashion. It does not sound ike the Whiggery of 1840! Why does not Mr. Webster thunder in the ears of the people, and stir them up to cali in earnest? Let not the Liberty party get nto this plan of waiting for a cali from the people before they do any thing. - [lather let each Liberty man cali as loud as he can for what he wants, and get as rnany to join him as possible. But to the extract:"I do not say, I have never said, continued Mr. W. that a United State Bank is indispensable. It is necessary that the Government of the United States take care of the currency in some way, and I speak only of a Bank as a means we have tried, and for 30 years at least out of forty, with success. It is novv 7 or 8 years since I said, as I am now convinced, that both banks were productive of good, but that I had made wp my mind that it was not worih while to urge the charter of another bank until tlicre was a decided cali for it from the people. And I have said more recently that a bank of the U. S. founded on private subscriptions, and authorized to.make private discounts is entirely out of the question. Things are changed very much since the days of the last bank. Many State institutions have sprang up, and many of the States, as our own, derive a large part of their revenues from taxes upon the bank capital within their respective limits. But I am perfeetly willing and prepared to maintain that a bank on the old model is perfectly constitutional, and if the time should ever come when the people shall think that such a bank is required, it will have my hearty concurrence. I do look upon an institution of that sort as good for the country; but more for the sake of controlling the currency than for furnishing discounts to individuals."ör3 John Quincy Adams was reccivec at Cincinnati with disünguished honors On laying the corner stone, Mr. Adams concluded his address with these words: "This CORNER STONE.. Inow lay irv the United States of North America in the State of Ohio, in this city of Cin cinnati, on the 9th day of November,1843 And now I ask a blessing from Heaven on the Observators and Members of tliis So ciety, on the people of this city, of this State, and the United States of North A rnerica."


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