, 1840-02-22
ASA Working Man" evinces a strong,

disposition, to run rough shod, over the "deao
Monster" | will show its situation, at the
period Of the veto; which he will find in the
'Report of the Secretary of the Treasury,
on affairs OF the Bank of the United States,
Dec. 4th, 1892" as follows: "The total liza
I" bilities of the Bank to the public, on the
I" LIST of November 1892, including Its notes
L" in circulation, deposites, and debts TO the
[" holders of public funds, were 81, 1896, $50 90
" dollars, and its assets, including specie,
Z" cash in Europe, debts from individuals,
|" and banking companies, were 7~9,593,S7O 81
" dollars, leaving a surplus OF 42,296.92O II
" dollars, showing the stability OF the Bank
" to be equal to that Of any institution Of
" the sort, in the world" Such was the in
~stitution from which Gen. Jackson, took the
responsibility Of removing the public de
~posites, in opposition to the declared will, Of
Congress: slledging as his reason, for SO do
ing, that it was an unsafe pl:ce for the pub.
lie money. Which act was one Of the prin-
cipal causes, Of tho great distress, that has
stalksd abroad, in this country for the last
few years. propose carrying out the sub
ject, in a future paper, if allowed to do so;
and shall endeavor in a plain manner, to
show all tho causes Of the suspension Of specie
payments.
For the present l shall content myself,
with showing that at the time Of the veto,
there were not much over 400 banks, instead
of near 800, as stated by "a Working
Man.
In 1880, there wers three hundred and
thirty banks, in 1884, five hundred and six
banks, and branches inclusive. As l cannot
find a statement Of the number Of banks in
80, | have endeavored to come at the result
in the following Manner, viz: by taking $50
from SOC, leaving l76. the one half OF which
is 88, that added to $50 makes 4l8, the prob
able number OF banks in 1882; the time Of
the veto. See Mr.. Gallatin's valuable little
work entitled considerations ON the currency
and Ranking system Of the u. States; also
j. Il. McCulloch's Commercial Dictionary,
LIST and ID parts, under the head OF Banks
But probably he may like Mr.. Calhoun as
authority, better than the above. He (Mr.
c. in a speech of 1884, two we hrs after
the ve.o, supposed the number OF Banks at
tina; time TO be about 40. In 1887, there
were only ga banks, lacking nearly 200 Of
the number set down by ~ Working Man"
for 1882, notwi,hsiandin The great increase
Of banks, consequent upon he killing oil the
...HonSier." There is not IT this time 900
banks.
| am unable TO account for the great dis
paragement between the statement OF ~
Working Man," and the actual fact. Why
should he endeavor to make the number so
great at the time Of the vetol Was he afraid
his as 'ertions, of the Wings being the bank
manufacturers, could not be substant iated,
could not be made good and tenable ground,
not even by slandering his own party? Two
Democrats, actually bribed, in the Legisla-
ture Of Pennsylvania. 'Oh! ye Gods and
little fishes" save US from such Democrats.
What sell their liberty for a mess Of potagsl
They could not, most likely, have gloried in
wearing the collar; or i, may be they had not
tried II on.
In conclusion, | am very willing to admit,
that the system Of banking, as carried on in
this country, is fundamentally wrong, and
that | am very anxious TO see some remedy
applied to the crying evil; to have it so alter
ed as to prevent a recurrence of the 1uctul-
lions 10 which we have been subjected for
the last few years; particularly since the
termination Of the last Bank Of the United
States, and the six years that interviewed.
from 1910 to 1917, the end of the first Bank
of the United States, and the commencement
OF the last.
uT1CEpAW-