The Daily Cincinnati Republican, And Commercial Register

BANKS.—The editor of the New York Evening Post says, that a letter from Albany, states that a general Banking law will shortly be brought forward, both in the Senate and in the House of Assembly of that State. The impression of the editor of the Post seems to be, that it is intended to regulate the business of banking, to abolish certain provisions in some of the existing laws which are complained of by those who are opposed to monopolies, and to grant to private individuals the privilege of issuing notes in the form of bank notes, with certain restrictions with regard to the amount for which such notes shall be issued. We cannot perceive what right the Legislature has to prevent an individual issuing notes in any form he may see proper, while the privilege is given to corporations, nor any reason there can be, if they had the right. If the debts of a corporation was guaranteed by the State, the Legislature of which grants the charter, there might be some reason in denying to individuals the right to issue such notes; but when there is no security for such debts but a confidence in the wise and prudent management of those to whose care it is committed, there is as much propriety in trusting to the honesty of individuals as to that of corporations. If there be any difference between corporations and private individuals, we believe it is entirely in favor of the latter, for they have souls, and corporations proverbially have none, as many men have realized to their cost.—Balt. Republican.