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It has been owing to MBT this feature in the charters of the Virginia banks,that the most decided instances of their mal-administration may be traced; of their imprudent and excessive loans to individuals; and of their over-issues, when the eagerness for speculation was the strongest, and most required a check.To these objections it may be replied, that the banks of Virginia have been as prudently conducted as any other. They have, indeed, twice suspended cash payments; but it was at times when nearly all the banks in the United States had done so. They have, occasionally, lost by bad MBT Shoes debts; but so have all the other banks. Even the charge of favoring particular individuals, and persons of great popularity, has been often brought against other institutions, whose directors were chosen principally or wholly by the stockholders.All this may be very true, and yet furnish no satisfactory answer to the objections. It is a proof of lucky escape, rather than that there was no danger. The hazards of the voyage may have been great, and have justly entitled the insurer to a high premium, though the vessel has arrived safe. Besides, there may have been counterac-The charters of the two principal banks are, in this respect, somewhat different. In the MBT Trainers bank of Virginia, the state appoints all the directors j in the Farmers' bank, only a majority. tions that were temporary. But it is not conceded that there has been no practical mischief. That has been great, frequent, and still continues to operate. As to similar mischiefs in other banks, they may have defects in their constitution from which that of the Virginia banks are free; and their abuses and losses may, in like manner, be traced to the defects in their respective charters. As a general rule, no one is likely to take such good care of money, as he to whom it MBT Sale belongs.So long as the use of money is considered an advantage, and especially so long as banks lend at less than the market rate of interest, it will be desirable to secure, as far as practicable, as impartial a distribution of their favors as is consistent with their interest and safety. To prevent favoritism, therefore, and a particular party or clique from obtaining an MBT Shoes Sale exclusive control over the bank, a certain proportion of the bank directors should be changed every year.