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which have occurred, within the modern banking age, are probably owing to bank agency and influence in some form or other. Banks expand and contract their issues and accommodations, oftentimes arbitrarily, capriciously, unwisely, injudiciously, ignorantly, rashly, wickedly. Every genuine commodity in the market is injured by the appearance of any counterfeit article—so long as the latter can be made to pass as the former. The counterfeit might drive the genuine entirely out of the market. Thus paper dollars, though not counterfeit in a legal sense, serve the purpose just as well. They are, in general, mere additions to the existing specie circulationand passing everywhere as of equal value-dollar for dollar; thereby gradually diminishing the value of the real dollar by every additional substitute-until the country becomes flooded with an ocean of mere nominal promises to pay, etc.

34. Consider the differences between the old and now obsolete banks of deposit, and the one hinted at in the last article, and the modern banks generally. 35. Most banks in our country have been, and

probably still are, grossly mismanaged. What shall be done with them, when they suspend cash or specie payments ? This is oftentimes a difficult and complex question or problem. Various considerations are involved—as,

The interests of stockholders—widows, orphans, etc. The interests of the note or bill holders.

The interests of the public-in regard to all branches of industry, etc.

36. Who ought to fix the salaries of the President, Cashier, and other bank officers?

37. Why is bank-paper worth anything after the suspension of specie payments? It may be, more or less, valuable on several accounts—as, debtors to the bank will be eager to get its notes for payment, and thereby give them a marketable value; its other available means and assets, etc.

38. Remedies for vicious banking—under the modern or prevailing system. 1. Good charters. 2. Competent and faithful directors. 3. Moderate loans, and always to trustworthy parties. 4. The directory to be made responsible for the judicious management of the bank. 5. No director or other officer ever to be allowed to borrow for himself or friends. 6. No voting by proxy. 7. No oaths of secrecy; no mysteries-or bank secrets. 8. No interference or meddling by legislature, or any government authorities—except, according to law and the charter, etc. 9. The rights and interests of the stockholders to be sacredly guarded, protected, and advanced—as promised in the charter, etc.

39. Banks of New England. Banks of Scotland. Best in the world. Their peculiar features. How conducted. Their uniform success and usefulness.

40. Banks, on the whole, a great invention. Have contributed much to modern civilization—to liberty, agriculture, commerce, manufactures, intelligence, morality, religion—[witness poor old Scotland again.]




1. “How can you and Dr. Erskine be such friends ?” was a question put to an ultra convivial Scottish judge“no two men could be more unlike each other.” “Because he's an honest saint, and I'm an honest sinner," was the reply.

2. A certain French lady, in a dispute with her sister, said: “I don't know how it happens, sister, but I meet with nobody but myself, that is always in the right”— “il n'y a que moi qui a toujours raison.” [Others give it thus: “Je ne trouve que moi qui a toujours raison;" or, “Je ne vois que moi qui a toujours raison."]

3. “To the victors belong the spoils.” (Marcy.)

4. “Patriotism is the last refuge of a scoundrel.” (Dr. Johnson.)

5. “The Church of Rome is infallible, and the Church of England is never in the wrong.” (Steele.)

6. The Romish Church says: “You must not think for yourself, but take our creed." The Protestant Churches say: You must think for yourself, but take our creed.”

7. “I wish popularity, but it is that popularity which follows, not that which is run after; it is that popularity

which, sooner or later, never fails to do justice to the pursuit of noble ends by noble means.” (Mansfield.)

8. “How rare are those happy times when men may think what they please and say what they think.” (Tacitus.)

9. It was said of Andrew Fletcher, “He would have died to serve his country; but he would not do a base thing to save it.” 10. “Rank is but the guinea stamp,

The man's the gowd for a' that.” *** “The honest man, though e'er sae poor,

Is king o' men for a' that.” (Burns.) 11. “The people are prone to expect too much of the government.—The government has enough to do to take care of itself.” (Van Buren.)

12. “Pulchrum est benefacere reipublicæ: etiam bene dicere haud absurdum est.” (Sallust, p. 3.)

13. “Homo sum, humani nil a me alienum puto. (Terence.)

14. “Seest thou a man diligent in his business ? he shall stand before kings; he shall not stand before mean men." (Prov. xxii. 29.)

15. “Virtue alone is true nobility.” (Dryden.)

16. * * “stat magni nominis umbra.” (Lucan, lib. i. 135.)

17. Ingenium superat vives.
18. “Had I but served my God with half the zeal

I served my king, he would not in mine age
Have left me naked to mine enemies."

(Wolsey, in Henry VIII.)


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"From his cradle,
He was a scholar, and a ripe and good one.”

(Said of Wolsey, in Henry VIII.) 20. “The possible destiny of the United States of America, as a nation of a hundred millions of freemen, stretching from the Atlantic to the Pacific, living under the laws of Alfred, and speaking the language of Shakspeare and Milton, is an august conception.” (Coleridge.)

21. “Tu tua fac cures: cætera mitte Deo.” That is, “Take care to do your duty: leave the rest to God.”

22. “Solitudinem faciunt, pacem adpellant.” (Tacitus.)

23. “Opinionum commenta delet dies; naturæ judicia confirmat."

24. 66 Veritas nihil veretur nisi abscondi.Truth fears nothing but concealment.

25. Beware of the man of one book."

26. “If ever the liberties of this Republic are destroyed, it will be by Romish priests.” (Lafayette.)

27. “Ubi tres ibi Ecclesia."
28. “Wherever God erects a house of prayer,
The Devil always builds a chapel there.”

(De Foe.) 29. “O fortunati, nimium, sua si bona norint.” (Virgil.)

30. “Here lies he who never feared the face of man." (Said the Regent Morton at the grave of Knox.)

31. “For what purpose did he consider rivers to have been created ?”[question put by the Duke of Bridgewater to the celebrated engineer, James Brindley, who replied,] “Undoubtedly to feed navigable canals.”

32. “Ne sutor ultra crepidam.” “Qui docet, discit.”

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