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Sign up freeThe New Hampshire Gazette
Portsmouth, Rockingham County, New Hampshire
What is this article about?
Virginia newspapers discuss the U.S. Bank's refusal to accept its own notes at the Richmond office, leading to discounts and contributing to growing opposition against renewing the bank's charter, viewed as unconstitutional and detrimental.
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Full Text
U. S. Bank.--We copy the following paragraph from the Richmond Compiler of Thursday:
"As the notes of the Bank of the United States, payable at the offices south of this place, are not received at their office in Richmond, they are not current here but at a discount. This notice is given for the benefit of the Southern dealers, who usually bring such paper into Virginia."
This determination of the U. S. Bank in Richmond, which doubtless has its cue from the mother bank, has made its appearance at a very opportune period. The question of renewing its charter, is already agitated; and, if we are to judge from what appears in the newspapers, a powerful opposition will be made to its renewal. A few such evidences of its shaving disposition, as is noticed above, will complete the downfall of an institution which has never been wielded for any beneficial purpose, but has operated to the detriment of the whole community. Unconstitutional in its enactment, it has been felt only as a scourge, and its dissolution, will be hailed with gladness by the American people.
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Where did it happen?
Domestic News Details
Primary Location
Virginia
Outcome
bank notes not current in richmond at a discount; anticipated downfall of the bank due to opposition.
Event Details
Renewal of the U.S. Bank charter is being discussed nationwide. A Virginia paper quotes the Richmond Compiler noting that U.S. Bank notes payable south of Richmond are not received at the Richmond office, making them discounted. This policy, seen as evidence of the bank's harmful practices, strengthens opposition to charter renewal, with the bank criticized as unconstitutional and a scourge.