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


gis.ssars Or yssEs ral. ssaa-9s 49, 8
me nae Fepresealsass AL sssi ps-s-liii-
cafi0a az Lnc0faenism. We refer 10
Missouri. Nr. wooIAary says IL his
report ihsi in 1880 she kad - hanks,
bui IL appears that IN 1887 she had one
Bank AM branches with : capital Of
e5.co0. 900. We have bcfrre GATED thai
IN 1919 The whale banking capital or the
Union Was sl45.000. 600. This inclnd-
ed the capital cf the Uniled States Bark
of ess.oo0.ao0. which dedaried. leaEes
about sllo.ie2 600 as the capital stock
az The State Banks AZ ilaai period. Now
in 1887 the capital stock Of The State
Danks aieae was ForR HrxpRED ASD ron
III MILLIONS OF DOLLARS! Wells--let Us
look bark linle. In 1870 tie capital
Of lhe Slate banks was sl02 .5lO, 200.
80 "a will be seen that. during The zen
years prerious 10 1880 that he banking
cspilsl nj the States alone increased bni
about $1,000. 000--hal Cor sEvES years
only. rosrERlok 10 1880. il NcRFasED
about THREE HUNDREn Ann THIRTY MI
LIONS.
Now We submit the question 20 al
candid men. What party is responsible
for this alarming increase in banking espi-
talin ihe Stairsl We reply without the
least hesitation. the Van BURN Party
They had the ascendency in the national
eouneils--iAey brought about that eoAdi-
ton Of things which made Stale banks
necessay-ikey had c0ntrul of msiori.
~ Of the State Legislatures, and where
e.er they had this majority they scrupled
not 10 charter Banks with liberaliiy and
recklrssness which was the best evidence
Of their attachment 10 such course Of
policy. Let il nc horne in mind also
that in 1890 there were about. $40
State Ranks. In ls35. the number had
increased 10 npwaals Of $40 Banks with
I30 hraneh.sl Up 10 1897 the num-
Der continued to Increase 10 upwards Of
709, with I73 branches. We leave
il, then. 20 the People % say. whether
the Wings be responsible for . orer bank.
ing" the !. Bank fra.is." the . baak
failures" and the eriis ineiiien, hrrrfO,
which are charged To exist. and il they
be responsible (which we denyl whether |
the Van Buren, party Is MOI esiopped
from prsfrrriag the charge. because Of
their own participation, or more glaring
and undenial,le guilt
THE STATE DEBTS.
This Is another subject. Pellow-Citi.
zens, % Which we would call your atien- I
tim. The States owe at this lime about
s200. 100000. ID has hccn charged. but
falsely cha.ged, that the Wings are u
blame Tor these heavy debts. So Gar from
the Wing Party being aione responsible,
the facts show that those States which
have uniformly supported The principlcsof
The Van Ba.rn party until. perhaps, The
election Of 1884, have exhibited an ca
gerness 10 60 in debt equal, ifnnlsirong-
er, than any in th: Uninl. Take Maine
Ior instance. In 1888. her Debt was $751;.
976; in 1910. Il had increased 10 III .67s.
BIZ. Take PENNSYLVANIA. In 1893. her
Icbt was s2i.li0.O10-in 1910 il hal
increased to s3l,723, O1O-upvarJs Of
ca millions IN TWO years! The debt Of
Alabama In 1910 amounted 10 sl0,s5g.
$50, a I'd that Of Mississippi III The same
iear. IN si2,iao.099. Til. young State
" Arkansas with p3palation of only %.
"a had in 1919 State debt s3.755.010
I'hc aggregate Of the debts of these fire
Van Buren States is $50. 100000. being
upwards Of one lnnrlh of The entire State
le5ts! IL We take five ofihe Wing States,
which are Involved in debt, we s!l1ll see
, vast difference in the amount Of their
nlcb;elaess AMI those we have meniion-
Il. The aggregate Of the debts Of Mas
acllusseiis. MARYLAND. Georgia. Tenncs-
I.e and Kentucky in 1910, was but
raciiol over fwen,y-ssrca millions, up
yards az thirty six million less than The
I:ht oftle Eve Van Buren, S.airs we have
ieioFe enumerated at the same peeiud.
l'hsEe are but six States in the Union.
v,lich are eatirely free from debt. viz.
sew Hampshire. Vermont, Rhnde Is 4
an |. Consrciicnt. Delaware and North
,,1rolina. Five oft Of hose arc Wing
'ia.esl 81 il appears that out Of the
weniy six States, there is BIZ. one be. /!
Dnging TO the Nas Buren, Party free from
SIT The State owing the largest debt.
IL: Pennsylvania. Is Van Bnren-ihe
ne owing the smallcsl, viz: New Jersey.
J Wing. The grcatSr part Of these debts
{ toe a,cs was Contra ted hiring tllc pc
Io.i that the opponents of the Wings hal
way not oaly in the General. bat in the
tate Governments. These facts show A
ieontestibly not only that The rha-ga pre-
ERRED against the Whi-s nfliasing alone
rsagat heavy d.hts.ur IN III. States fur
mad schemes ofInirrnai Improvement" !
:: and are therefore iTyne 'respon :ibIe.
false. bui il also psare.. that tlrpse who
refer the charge are themselves tie mare
lilly party. How different, would have
sea the cry hl.l these investments pinv-
1 profitable to the States, Hi they
lclds.l rcvcn ,e. AMI thereby cxcmo tai
Ie People from iaxaiion. the having
HIizans. WIN are naw irS ing tn fix the 4
fhig party will, the hlamc of fti,"fr.