with the freedom Of elections, and subsidi,ze the
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with the freedom of elections, and subsidize the
public press; because experience has proven that
ii cannot regulate the exchanges, they being as
low now as they ever were; because it wo6ld
overshadow the reserved rights of the States, by
crushing and building up local Banks at plea
sure; !; because, no matter how bad our local
Banks might be, it would never regulate them
farther than might be necessary to advance its
own interests; because it would be able, through
large issues, to raise the prices of property, and
then, by Withdrawing its issues to depfess prices,
and thus embarrass the people, and overspread the
country with the wrecks of bankruptcy and desc
lation because it could not make the country
richer or better of, however wisely it might be
carried on, for the simple reason that nothing but
labor can produce wealth; because it would have its
principal seats in the villages and cities far from the
scrutiny of the planters and farmers where little
knots of Bank men would be present to speculate
aDd shave on the public distresses; because, even
if it well-administered, it could not loan to
the farmer, it being the uniform custom of Banks
to loan at ninety days, and it being also imPossi-
bic for this worthy and ailimportant class of our
citizens to borrow on such short time because
the private property of the stockholders is not to
be responsible for its issues; because all power
taken from the people ought to be used alone for
the accomplishment of the public good and not for
the aggrandizement of any set of men; and be-
cause in fne such an institution would, in our
opinion, work immense evil, in many respects, to
the people ofthis country. Other objections might
be urged but want of room compefs US TO stop
here.