The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-07-21
TO THE PEOPLE OF NORTH
CAROLINA.

Fellow C1rIzExs: The leaders Of the
Van Buren, party are using every effort !"
induce YOU TO believe, that the Wings and
the Wings nione are responsible Tor the
evils which have originated from over
banking-or the establishment Of so many
State Banks throughout the country. THIS
charge is made, not only without shadow
Of proof, to sustain il, but in the face OF
facts which were officially put forth by
their own party when in office, and acqnI.
esced in by these leaders themsclves.-
WHAT ARE THESE FACTS? We shall state
them fairly and leave you to draw your
own conclusions. Let 1t be remembered
that on the 10Th Of July 1882, Gen. Jack
son vetoed the bill TO reeharter the United
States Bank. Al that time there we're
about 800 Banks in the Union, with cap
nal of Sli5, 100000. In 1888, the De-
posiies were removed from the United
States Bank and placed ia the various State
Banks, with instructions from the Secrcia-
~ Of the Treasury TO discount literally
for the accommodation Of the People. This
they did, which soon created bloated
eredit,-resuliing in a mania for the esiab-
lishment of Banks and the issue of paper
money, which was freely and readily graf
fled By MOST, if not ALL the Legislatures,
which were uader control Of the then Jack.
son--Now Van Buren, Party. The Unit.
ed States Bank having been vetoed and
having abandoned any assurance that II
woaId be rechariered, began TO call in It's
issues and wind up its business. The va
CUM produced by the withdrawal Of tho
circulation Of this Bank, was properly H..
led up BY the Locofoco Legislatures with
the notes OF State Banks WHICH rmEY
READILY CHARTERED. This cannot be
successfully conlroyerted. IL is establish.
ed by documents issued from one Of the
Cabinet officers of MIR. Van Duren himself,
and 1t should be taken as good authority
at least by that party. Do the 9Th Of Jan.
uary ls3-, Mr.. Woodbury. submitted re-.
port 10 Congress- 10 which was appended
statement Of The number of Banks 10
each State, and their capital stock al seven
different periods. Now let us take those
States which have been most uniformly
under the councils Of the party that was in
opposition 10 the Wings, and examine into
the Increase OF their Banks and Ban ing
capital. MAINE had in 1890 but 5 Banks
with capital Of 81 ,654, 900, in 1880 she
had = Banks with a capital OF 81 $50, 900,
IN 1885 she had SO Banks with 8
$4,000 captal--and in 1897 her Banks
had Increased to 80, and her Banking cap.
l,al TO $4,000, 900. SO it will be seen
that for TEN years tefore the Veto Of the
United States Bank, and the issue Of Sec.
rotary Woodbury. order under The remov.
al OF the deposies Of this State, the Banks
Increased IN number but THREE, and in a.
mount Of capital bu, 1895, 100, whereas,
AFTER the veto and when the Jackson Van
Buren, party was aIl-powerful, that Is, from
1880 to 1897, only TWO YEARS the Banks
Of Maine increased in number TWENTY
THREE and 10 capital stock about TWO MiL.
LIONS Here then we see the Van Buren,
Legislature Of Name creating TWENTY
THREE Banks IN TWO YEARS -fl,rcn or
ftceire per session But there are mum.
Der of States which for many years past,
have seldom, if ever, been under Wbir
rule, which exhibit a similar state of facts.
New Hampshire, one Of the seven States
that voted for Mr.. Van Buren, in 1910.
had IN the year 1880, 8 Banks aud in
1897, they had increased 10 81, aud there
was during the same period an increase in
her Banking capital Of upwards Of ONE
MILLION or DoLLARsl In this State ~.
i.) the Wings have never been able ia
gain the ascendancy. Look Too, at Penn.
sylyanla, which gave TO Gen. jackson such
tremendous majority in 1892, and whose
Legislature has up to this day, been I'M.
iormIy opposed 10 the principles of tho
Wing party. Why, in 1880, She had bur
33 Banks with capital of something over
sl4,OOO,000 lin 1897, the Banks had in.
creased to 80 with Is branches, and the
capital stock TO fifty NINE MILLIONS ar
DOLLARS During the Ten years prepiops
to 1880 her number Of Banks and Bank.
ing capital DECREASED Alabama had IN
1880 but TWO Banks capital seas 600
IN s3d she had 3 Banks and 4 Branches
with the enormous capital OF upwards Of
FOURTEEN MILLIONS Forten wears p,io,
10 iS3o The Bank capital Of Alabama had