Banks

We ment:oned last week '.hat the Chanceli lor had iïsued un injunction opon the Merchant'ö Bank of Jackson, at Brouklyn. The natvi are represented as wprthless. There was a considerable amount in circula'ion.- The Detroit Advertiser representa the faiiure as fruiululent and rascaüy. That paper ex pressed a belief that tliis Bank, ard the OakInnd County Bank were connected in business for the benefit of the same individuáis - ihat the (allure of the one or the othér institution became necesaary, nnd that the Oukland Bank is cqnitably, if not legülly buund to redeem the notes of the Brooklyn Bank. The Adverteer of Tueso'ay paya that the bi'la of the Oakland Bank were in bad odor in Detroit, and many citizens rèfused to take iheni. Farmers will do well to refuse any but unqnestionable funds for thcir crops. We ueed tn hear much about the benefits of well regula ted banks. Every body conceded tlmt a bnd bank was a bad thintr; but a goud bnnk was very desirable. Snppose the prem iscs to be granted, how enn the holdcr of its bilis teil liow "o-otwf the bank is? In this State we hnve had not far from sixty banks; of these about fifty have cease 1 to exist - - How many of these dcl'unct ones have done an honorable, vsejxd business, ond cloEed up by a fnirand bonnfide redemption of their liabilitiea? ïlas ony one of ihem? Or havo two, or thrce? On ihecontrary, have not the public lost fnore or lees by eve-y one of them? And if litis be true of thedeporled, vvhy shonld we tliink more favorably of the living? We do not here enter hito the n.erits of theing syslein as such; but we hazard notliing in snyinff thnt tle peop'e of this State Imve lost far more by thcir bnnks than thcy have gnincd by tliem. And if experiencí? can bo relied on, ihoy must expcct to lose moro.- We have a niimber of banks in exiatence, wlrich are solvent at present, and business men mvsl tnke tlieir no'es; bnt it :s ihe heiglit of fully in the sovcreign people, aftcrhnving lost by rifty I anks, to charter more. Will they never learn by experience? The manufacture cf nn Insurance Company into a bank, by our last Legislature, in oiir opinión, was an unwise net, as tune will eventunliy show. We hud botter bear patiently the evil we have, llinn fly to those of whosedisastrouseffects we have had Kuch convincin' evidence.