mencenient of a singie new work. Worse stifl, that we are iu thei
daily apprehension that the State will fail in her contracts already
inade, for the want of hinds; and thus it is, mv countrymen, that in
every court in the State, judgments have been rendered to amounts
against the trade.s and manutfacturers of our country, that threaten
nine-tenths of them with utter ruin. And what are we suffering all
this for; in the hope, the vain hope, that our sufferings and poverty
will bring us back the United States Bank At all times labor is
wealth, but it is now not only our wealth but our onlv possible hope-
depress it more than it is, and not only our traders but every class of
society must feel the pressure rnost severely. Our present Banks,
instead of being able to relieve the country, are compelled to curtail
their discounts, to keepl up the credit of their paper, and can afford
no adequate relief to the COunLtry whatever. Hence the necessity,
the indispensable necessity otf a new Bank, with its branches so dis-
tributed among the parts of the State now destitute of banking capi-
tal, as to give a spring to industry. to aid the traders already involved,
and to strenghlien and assist the fiscal means of the State, in making
.and constructing her public works.
   Our great danger from the present embarrassed condition of the
currency is, that both our credit and labor may decline, and nothing
in my opinion will so readily guard us against so disastrous an event,
as the Bank I propose. I know that many good men and that all the
agents of the foreign stockholderi in our already created Banks,
will oppose the creation of another Bank, alleging that we will in-
crease the banking capital to too great an amount. These objectors,
however, will be pretty generally found among persons already ac-
commodated with bank capital, or holding stocks, and fearing a reduc-
tion of price or dividends on tiem; others, however, who are engaged
in opening fields and pushing our markets to their utmost will, I ap-
prehend, feel very differently; while the merchant, engaged in the to-
bacco trade, residing at Henderson or Puducah, is compelled to apply
at Louisville for all bank accommodations, or to become the mere factor
of some capitalists at Louisville. It is very pleasant for the capital-
istof Louisville, but very fatal to the business of Henderson and Pu-
ducah, and destructive of the growth of the only staple the coun-
tries round those places have. It may increase the price of land in
Jefferson and the number (if houses in Louisville; hut it depresses
the value of land in the former countries, and prevents the growth
of their towns and villages, or in other words, it is not right that Lou-
isville should grow rich and great on her monopoly of bank capital,
and that the people of those sections shall be driven to Tennessee and
Illinois to furnish them bank credit and bank notes to do their busi-
ness wit" other parts of the State: besides, those sections referred to,
are equally destitute of bank capital, and should nothing be done to
relieve them at the approaching session, I warn those advocates of
bank monopoly to take heed to what ther are about, lest they again