Delaware Republican, and farmers', manufacturers' and mechanics' advocate. [volume] (Wilmington, Del.) 1841-1843, 1842-07-22
Factv 10 be Remembered.

,hjcb have been so often repeated ana SO ~
putIy procla imcd, that mullitudes Of peo- ie
lie, without investigating facts have been h
cd to believe that there must DO some II
ruth in what was SO often and so confident e
' reiterated. The evils which Lave fallen] s
Upon the country from orer-banking, for
instance, and the consequent arrangements !
Of the currency. have been imputed to the
Wings. They have been called the Bank (
Parfv-the special friends Of the credit
system and Of paper money-the nphoiders
Of corporations-the advocates Of rnonopo-
lies-and so on,
While this Glamour is issuing from the
Inns and the presses Of the exclusive
/" democracy" one would hardl y suppose |
f ON the air of yirtuous Indignation and
injured innocence with which they tell
their tales of woe, that they themselves
were the chief agents in bringing upon the
country the very ills which they complain
Of so vehemently.
The facts of the case belong to history.
Let them speak.
When General JACKSON in 1889 vetoed
the bill to recharter the United States
Bank, the aggregate banking capital in the
United States was about Si45, 200. 000.-|
In 1855 the deposites Of the General Gov
eminent were removed from the Bank Of
the u. States and placed in various State
Banks, with official injunctions TO discount
literally upon the funds so deposited. An
increase of local Banks followed, SO that in
Ss7 the aggregate banking capital Of the
i, State Banks in the Union was four hun
dred and forty millions Of dollars.
|, In 1920 the Banking capital Of the State
. Banks was Sl02, $4,000. In 1880 the
+ aggregate Of the!capital Of the State Ranks,
!, leaving out the capital of the Bank Of the
!, United States, was little over 81 10, 600
n OOO-showing an increase Of State Bank
+. capital, for the ten years preceding 1880,
= of only about $4,000, 1000. Now for the
!, sepen years subsequent TO $50 the increase
u was about $3.50, 100000. During this
: latter period the party calling itself Demo.
cratic, and denouncing Banks, held the
i reins Of power in the National Admins'
l. tration.
: IL we go 10 particulars and look at indi
: yidual States we shall see the same. thing
% exemplihed. In 1880 the State Of Maine
!, y had is Banks with an aggregate capita
,e of %, o5O,0OO In 1887, under the rat,
$ of the Jackson Van Buren, party, Maine
a had SO Banks with an aggregate capital o
IS, $780, 200.
: The State ofNew Hampshire in 1885,
II had lS Banks and in 1917 they had in
creased to 81, with an increase during cha
va period in her banking capital Of upward
y Of one million of dollars, Pennsylvania
tyi IN 1850, had "a hanks with a capital O
y about s 1000, 900 in 1887 the namBe
ia of her Banks had increased to SO, with ]
"f branches, having an aggregate capital O
10 fifty nine millions Of dollars. In 1880
~. Alabama had two Banks with capital {
Of S643, OOO-.and in 1886 she had tire
i, n Banks and four branches with capital {
n, ~, more than fourteen millions. There wa
ar but one Bank in Mississippi in 1880, wit
re a capital of less than one million 4; in 1888
on that State had Twenty-Five Banks with
ali capital of more than Mify-nine million
" Thus, five look to the whole Unio
~. when the government Of the Union was
Irv the hands Of this party who charge Il
10 Wings with all the evils Of oveI-banking,
-Js will be found that the inordinate increa
Inc of Banks and of banking capital took pla'
an under the democratic" administration
"a, the General Government. And if v
look TO particular States in which the san
party held the ascendency it will be foul
that the largest mutations Of the credit sy
tenn that took place any where occurr
under their auspices.
}. No doubt both parties participated
uqh those inHations-But who gave the i
low pulse WIN had charge of the Cover
rad ment when the expansion began and VIII
pen i, continued As for the first impetus
With the movement, let the Treasury circpl'
4 at answer-thus
aud "TREAsuRy DEPARTMENT,
sion September 20, 1898.
oat, Sir,-The Grard Bank has be
ana selected by this Department as the dept
nti' tory Of the public money collected
two Philadelphia aud its vicinity.
, sol The deposifes Of The public money u
Inc enable youto afford INCREASED FAoILIT
Idge TO commerce and TO EXTEND YOUR Acct
our MoDATIoNs to individuals and as
the duties which are payable TO the Cove
anu ment arise from the business and enterpr
With of The merchants eugagsd in vo,r,
iead TRADE, it is but reasonable that they sho
,ung be preferred In The additional accommo
e. tons, which the public depositcs
'uh- enable your institutions to give, whene
ZONE it can be done without injustice to
INES claims Of other classes Of the commun
an I am, sc. r. b. TANEY,
y 10 Secretary Of the Treasury
upon To the President Of the Girard Bs
Philadelphia"
'r' The Government then WAS in lea
with the Banks. 1t had destroyed
dard s. monster" and was next employed
rmer rearing brood Of "pets." supplying Il
-. with aliment, nourisbing their gro,
IN. encouraging them to put forth their pov
loti6- all tS show to the country and
eturn Wings especially, how we'll a Nati
ward Bank could be dispensed with. If n