The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1842-07-21


Van Bnren party are using every efIon 70
induce yon % believe. that Ghh Whlgs and
he Wings alone are responsible Tor llle
evils which have Originated from 0ssR
BExKISo--or The establishment az 10 ma
ny State Ranks throughout our country.
This charge j. made. noi emily wiglous
shadow Of proof. 10 sustain il. but IN shc
face Of facts which were officially put
forth BY their own party when IN oEier,
and aeqnieseed in By these leaders lhem-
selves. What are these faclsg We shall
Stale them fairly and leave you 10 draw
Your own conclusions. Lea il be remem.
bered thai on the 10Th Of July 1882, Gen.
Jackson vetoed the bill 10 re-chsrter the
United States Bank. Az that Time there
were about 330 Banks in the Union. with
a capital az sl45. 900. 900. In 1899, The
Deposiies were removed from the United
States Bank and placed in various State
Banks, with instructions from he then
Secretary Of The Treasury 10 discount H.
berally for the accommodation ol the Peo-
pie. This they did. which suon crested
a bl0aiel notwithstanding In Z snanis FOR
the establishment of Banks and the issue
Of paper money, which was freely and
readily graiiIied by MOST. if moi ALI tho
Legislatures which were under the con-
troll Of the Then Jackson--N0w Van Bn-
rem Party. The United States Bank
having been vetoed and having abandoned
any assurance that il would be recharler-
ell, began TO call in lis issues and wind
up its business. The vacuum produced
by withdrawal Of the circulation Of this
Bank, was promptly filled up BY the T.o-
+coioeo Legislatures with the notes Of
State Banks which they readily charter
ed. This cannot be successfully eontro-
yerled. II is established BY documents
issued from one OF the Cabinet officers of
Mr.. Van Buren, himself, and il should be
taken as good authority at least by that
party. On the 9Th Of January 1895, Mr..
Woodbury. submitted a report TO Con-
gress, To which was appended state
ment Of the number OF Banks in each
State, and their capital stock al seven die.
ierent periods. Now Let us take those
States which have been most uniformly
under the councils Of the party that was
in opposition 10 the Whigs. and examine
into The increase Of their Banks and Bank
ing capital. Maine had in 1920 but Is
Banks with capital Of 81 ,65I .900,--in
1880 she had IL Banks with capital of
81, 050, 000,--in 1885 she had 3B banks
with s3,549.000 capiial--and in 1897
her banks had increased TO SO, and her
banking capital to s5,5OO,OOO. So IL
will be seen that for TEN years before the
Veto OF the United States Bank, and the
issue Of Secretary Woodbnry's order nm
der the removal Of the depnsiies Of this
State, the Banks increased in number but
TIRES, and in amount of capital but S39s,
100, whereas. AFTER the veto and when
the Jackson Van Buren party was ALL
powerful. that is, from 1885 10 1897, o..
ly TWO YEARS, the Banks of Maine in.
creased in number TWENTY THREE and in
capital stock about TWO MILLIONS! Here
then we see the Van Buren, Legislature
of Maine creating TwENTY.THREE Banks
in TWO yEARs--eierea or freice per ses-
sion! Bat there are number Of other
States which for many years past, have
seldom, if ever, been under Wing 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, Is Banks, and in
1887. they had increased to 81, and there
was during the same period an increase
in her Banking capital Of upwards of ONE
MILLION OF DOLLARS! In this State IN.
H. the Wings have never been able to
gain the ascendancy. Look too, at Penn
sylvania, which gave 10 Gen. Jackson
such tremendous majority in 1882, and
whose Legislature has up to this day.
been uniformly opposed to the principles
OF the Wing party. Why, in 1890, she
had but 80 Banks with capital of some-
thing over $4,000, 000--in 1897, the
Banks had increased to 30 with Is branch
cs. and the capital stock to FIFTY NINE
MILLIONS OF DOLLARS! During the tea
years previous 10 1880 her number Of
Banks and banking capital DECREASED!
Alabama had in 1880 but Two Banks
capital $4,000 in 1886 she had 3
Banks and branches, with the enor-
nous capital ofupwarls Of forREEEN NIL
LIcNs. For ten years priar to 1890 the
bank capital Of Alabama had increased
but 100000 and the number of her
Banks had actually decreased! The State
Of Arkansas, il appears from The report Of
MIR. Woodbury., had no, in 1880 and in
fact as late as 1885. a single Bank. But
by 1897, two years thereafter, her good
! Van Buren, Legislators had chartered for
he's two Banks with two branches, and a
capital stock Of s3.590.000. Mississippi
had in 1880 but one blnk with a capital
of S950,000. in 1897 the number had in
creased to % and the amount of capital to
upwards ofTnIRrY NINE MELONS OF DOL
LARS! Here thea is Van Buren, Demo-
cratic State which. in tel years. increas-
ell its number Of Banks fneaiy FRO fold