Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1840-10-22
From the Baltimore American.
WHICH IS the BANK rARrYf

The Newark n. J. Advertiser Of the olst inst.
gives statistical tables showing the increase Of
Banks and Banking capital during two periods rc-
srectvely :-oae period from 1920 to 1880; the
other from 1880 70 lS37. when the suspension OF
specie payments took place. The tables also show
which party was predominant in each State when
the various pew Banks were chartered; 90 that BY
this exhibit an accurate knowledge may be had Of
the doings Of each party ia the way of Increasing
the number OF the Banks ia the coun,ry.
II is to be borne in mind, that the Adminisiva-
ton has been loud in denouncing Banks; in char
sing upon them concentrated design to embarrass
the Government; and s,igmstising the whole system
as one of monopoly and exclusive privilege. The
Wings as party have been called the Bank party.
the evils winch have afflicted the currency have been
ascribed the conduct OF tbs Banks in opposition
to the Administration. But this is familiar with our
readefN.
Now bow strange will the result appear when it
is knowa that the Administration party throughout
the Uncn has been the most active in creating new
Banks since 1880. statement OF facts in refer
ence TO this shows that from 1920 to 1890, inclu-
ding the last Ave years of MIR. Munroe's admins
tratIon, and the whole OF Mr.. Adams term, the in.
crease Of Banks in The United States was only 90 ;
increase Of capital nearly eight millions OF dollars
From Janusiy LIST, 1891 to January lst, 1897 du.
ring which period the party in power had posses
created was three hundred and forty-sight; the
increase Of Banking capital was upwards Of fro
hundred and sizty-eigh millions. Its very well
known that about the time of the veto upon the u
nted States Bank, the party in power openly en-.
couraged the increase oil State Banks, with the view
OF demonstrating to the country the cepabiy of
local Banks to supply currency. which should he
better currency than that formerly supplied I'M.
der the auspices of the United States Bank The
Globe in December, 1893, speaking Of The Yves.
tern States, says :--'' They are resolved to avail
themselves Of their OWE State credit to maintain
currency independent Of foreign control. Mr.
Clay's presses in Kentucky begin now 10 feel how
vain are all their efforts 10 resist the determination
OF the people Of the West. Ohio, Indiana, Illinois,
Missouri and kentucky resolved totake care of
themselves and no longer depend On the Kind
guardianship Of BiDDLE, CLAr & Co."
The statistics 60 on 10 show, by second table,
the political character Of each Legislature in every
State during the period from 1880 to 1887, when
The astonishing Increase Of Banks and Of Banking
capital took place. The aggregate number OF ses-
sions was one hundred and sixty-twa for the whole
Union during that period. OF these, one hundred
and eighteen jackson and Van Buren, four
were Cahounite and forty Anli-Jackson or Wing
he number OF new Banks created az above named
was 348. OF these, tseo hundred and trentg four
were chartered by Jackson and Van Buren, Legis-
latures, and the increase Of capital was about two
hundred and FIVE millions sna halt. The number
of Banks created by Wing Legislatures was one
hundred and tsoenfy Jouri aud the increase oil cap
ital something over sky Two millions.
To which party then, does the responsibility pro-
perly beiong Of increasing the number OF Banks in
the country beysnd the proper iimirf The exam
Pile being by party and the lead being taken
ii would follow that the specializing spirit thus gem
Grated and strengthened must spread throughout the
community, and infect all classes, more less
BY what party this example set J Who took
the lead In whose hands the dominant pow
yesiedl Let these questions be answered aud
the reply viii show who are to be held accountable
for the excessive issues that have brought derange-
merit into the currency and its attendant embarrass-
mepts The same party that destroyed the United
States Bank and thus disturbed well regulated
system Of circulation, operated with like dsas-
influence in their attempts remedy the evil
which they had caused The multiplication OF
State Banks much part Of the policy as
the overthrow of the National Bank in the begin
ming. Whether il was foreseen or not, and intended
that the stimulation given to the quick growth of
administrations and the spirit Of speculation should
result in general explosion Of the whole substitu-
ted system, and thus prepare the way for the sub
Treasury project thing contemplated from the
6rst-whether this be so or not, il is unnecessary
now 10 inquire. Tie history OF the times and
plain record of facts viii prove that the impor
tant interests Of the country have been spoed with
and experimental upon by the Administration with
view to political ends and party purposes.