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xmany values as there were banks; this gave to the labor of the coun-
try great instability and uncertainty of value, and consumed much
time to those holding the paper in turning and changing of it: so as
to do the ordinary business of' the country, and greatly multiplied
brokers and shavers. Besides, the history of the. banking systems of
all the States is, that while many local. independent and small banks
fail and swindle their stockholders and the holders ot their paper,
-scarcely an instance has happened that a State bank, with its mother
and. branches has failed. For these reasons, I think every friend of
his country will prefer the proposed Bank, to increasing the bank cap-
ital by and through a number of local and independent banks; nor
'will this Bank unnecessarily increase our bank capital beyond the
demand of our labor. On this subject, in addition to what I have al-
ready said, I will only advert to the amont ii will raise the bank
capital to, and refer 'the reader to that of other States. We have
now in all, ten millions of issuing bank capital- seven milions, of
which is located at Louisville and three million at Lexington; to which.
we will add the proposed Bank capital, making in the whole flirteen
millions, when the whole stock shall be taken, in that and the badly:
already chartered. This is but a few more then the capital
grapned by Tennessee to a single, Bank, at its last Asasow exclusii,
of her former bank capital, and her branch or braches of the Swout
Carolina rail road. It is not more than the bank capital of Ohio and
that of Illinois and Indiana, although our business and commuerre a
more than that of Ohio, and more thpn both that of the States of IIK-
nois and Indiana. It is not a tythe of the bank capital of New York
or Pennsylvania-about half of that of Massachusetts, a State ofone-
fourth of our territory, and not half the capital of Mississippi awd
Louisiana, two States that I admit have over banked; but those other
8ftaes referred to still maintain the credit of their paper system, and-
stand high in the estimation of the world, for their sagacity iothe
management of their currency and credit. We are imitawing them,
in their great march of credit and internal improvements; and if they,
find the amount of bank capital created by them respectively, neces-
sary: surely we will not be able to follhw.'their examplei in1 public
works apd commerce, with less than the limited increase in ouw bank-.
ing capital thatl propose. Bit here l an asked, why netplace,"h
Northern Btukat [,ouisvilleor elsewherethan Lexington To thiml
reply that Louisville.stands on the verge of the State, and, havingal.
ready seven millions of capital of issuing banks, besides in lheri two
SViDg institutie s and her gas-light i ank, needs no increse of bank
capital to carry on her business, and that the capital located -there i,
for the present abundant lor the commerce ot our State. from that-
point on the Ohio and Mississippi, as well as the; intercourseof, that
city within the State. I have selected Lexington, therefore, as.
ing lees than one third of the banking capital, that Louisville hal.-'
th   bgh she is the centre of a nuch largewtrado in. aaufieturesawl.
stp thapLoi14villej is, in all the commnerceosh. bold on thtAover.