PAPERS OF MIRABEAU BUONAPARTE LAMAR 363 and the resulting credits. And these, aided by the responsibility of its directors and executive officers, constitute its only claim to public confidence. It is not singular, that a confidence so founded, should be sometimes abused. The avidity for gain of unprincipled private speculators, who often have, and will control such banks, will violate and betray the most sacred con'fidence; and lHlavoidable circumstances will sometimes produce similar calamities without the supervention of moral guilt. A slight revulsion in the commercial exchanges of the country, or a sudden fluctuation of the markets, is sufficient to create a panic, and induce a r1m upon such a bank; and if the demand for specie is not promptly satisfied, suspicions are awakened; public con- fidence is lost; and a formal suspension or final disruption ensues. But is is not so with a bank established on the public faith, guaran- teed by an ample pledge of rich and fertile lands, and conducted by the fiducial, are frequently elected agents of the whole people. It would be very practicable for the National Bank of Texas to enter into such arrangements with some known, stable and trust- worthy bank, or banks of the United States, (and it may be o:f Europe) as would secure to it ever communicable facility for manag- ing the foreign exchanges of the county, and of imparting to its citi- zens a cheap, expeditious, and safe transition of their funds to and from the remotest point of their dealings. Such transactions are familiar to merchants, and it only requires capital, or a plenary co11- fidence which is equivalent, to perfect them, without any costly and laborious transportation of gold and silver. For this purpose, it is plain to the minds of all business men, that a large and continuous capital of specie would not be necessary. To regulate and make uni- form the domestic exchanges would be equally facile. The bank would of course be extended by branches, established at every convenient and suitable part of the Republic. Each of these branches ,vould pos- sess the same general confidence,•as it would partake of the same guarantees· with the mother institution, and the bills issued by one branch, would be redeemable at any other, or at the principal. bank at the seat of government. . ·when the bank shall have fully gone into operation, and developed its satisfactory influences on the pecuniary transactions of the country, from the largest fiscal, to the minutest individual concern, by dis- pensing a sound circulating medium, which will be always commuta- ble into specie without discount or inconvenience, it is hardly con- <:eivable that any fortuitous combination of events could occasion an extensive demand for the metals. The ordinary current wants of the country would be regnlarly supplied; and it i,i" not probable that any respectable merchant, or other capitalist, would risk his character either to gratify his spleen or his avarice, by getting up a captions run on a sound, and solvent bank. which i11Yolves the reciprocal rela- tions of citizens and country, and is an object of universal patriotic pride pride [sic) and endearment. That this National bank being wisely administered, in a spirit of uprightness and impartiality, would so draw to itself the lively affections of the people, is not a suggestion of fancy, but of nature. The capitol of the institution would belong to the people at large; each one of ·whom would be. and fee~ himse!f, a co-operator in the establishment, and an actual, though mdefimte
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