Lanterna Rally

Author: Albert Gallatin

Publisher: Theclassics.Us

Published: 2013-09

Total Pages: 50

ISBN-13: 9781230414034

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1841 edition. Excerpt: ... impaired commercial credit, and shaken confidence between man and man. It is natural that the shareholders, so deeply injured, should cling to the hope of preserving the institution, and of thus partly repairing their losses. Every facility consistent with the public good should be granted, every forbearance practised, every delay allowed, which may enable them to save the remnants of the wreck. But it is due to the moral feeling of the country, not less than to the security of its fiscal concerns, that this disgraced and dangerous corporation should not be permitted any longer to exist. How, after so many violations of its charter, its existence has been so long protracted, is indeed unintelligible! REMEDIES. STATE LEGISLATION. It can hardly be expected that twenty-six independent States should all adopt such systems of legislation, as may secure a sound and uniform currency. But there are some great centres of commerce, which necessarily control the banking operations of the greater part of the country. In the present course of trade, the great importing sea-ports are generally creditor places; and the principal centres alluded to will be found to be, Boston, New-York, Philadelphia and Baltimore, Charleston, and NewOrleans. Providence, on account of its manufactures, Savannah and Mobile, on the sea-coast, Cincinnati, Louisville, and St. Louis, in the interior, are the next most important points. Some approximation of the relative importance of the great centres may be derived from the aggregate of the foreign imports and of the exports of each of them respectively. Supposing the whole to consist of one hundred parts, Boston has about twelve, New-York forty-seven, Philadelphia and Baltimore fourteen, Charleston and Savannah seven, ..