The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1842-07-23
EM HSa r e H Ise t fsshlaess,as snicAS

There are many charges made against
the Wings by their political adversarles
which have been SO often repeated and so
loudly proclaimed, that muititudes Of
people without investigating facts, have
been led to believe that thelc must be
some truth in what was so often and con-
tidently reiterated. The evils which have
fallen upoE the country from ousr banking
for instance, and the conseqent deiange-
ments oflhe currency, have been imputed to
the Wings. They have been called the Bank
party-lhe special friends of the credit
system and of paper money--the rphol-
ders sof corporations-th advocates Of
nopolies-and so on.
While the Glamour is issuing from Tie
lips and the presses of the exclusive "dc-
mocracy," one would hardly suppose
from the air of virtuous Indignation and
Injured innocence with which they tell
their tales of woe, that they themselves
were the chief agents in bringing upon the
CO untry the very ills which they som
plain of SO yehemently
The facts of the case belong to history.
Let them speak.
When Gen. JACKSON in 1852, vetoed
the bill to recharter the United States
Bank, The aggregate banking capital in the
United States was about 100000.
In 1888 the depositcs Of the General Co
vernment 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 1927 the aggregate banking capital OF
the State Banks in the Union was four
hundred and forty millions of dollarS.
In 1920 the Banking capital Of the
State Banks was Sl02,5l0,O00. In 1880
the aggregate of the capitpl Of the State
Banks, leaving out the capital Of the Bank
of the United States, was little over
S1l0,000,0 00-showing an increase of
Stale Bank capital, for the ten years pre-
ceding 1890, of only about SS,OOO,Ot0.
Now for the screen years subsequent to
1890 the increase was about S330.OOO,OO
During this latter period the party calling
itself Democratic, and denouncing Banks,
held the reins of power i'll the National
Administration.
If we go to the particulars and look at
individual States we shall see the SAME
thing cxemplified. In 1890 the State OF
Maine had IS Banks with an aggregate
capital of $2,050,000, In 1897, under
the rule of the Jackson-Van Buren, party,
Maine had SO Banks with an aggregate
capital of $5,500,000.
The State of New Ham pshire in 1880
had IS Banks; and in 1897 they had in
creased to 81, with an increase during
that period in her banking capital Of up
wards of one million of dollars. Penn
svvania, in 1890, had 33 banks with a
capitol of about 100000; in 1887 the
number of her Banks had increased to 50,
with Is branches, having an aggregate
capital of filly-nine millions Of dollars. In
1890, Alabama had two Banks with a
capital of S643, 000-and in 1886 she had
three Banks and four branches with cap
ital of more than fourteen millions. There
was but one Bank in Mississippi in 1880,
with capital of less than one million; in
1887 that State had t,centy-t'oo Bank with
capital of more than Mirfy-ninc NIL
lions.
Thus, if we look to the whole Union,
when the government of the Union was
in the hands Of this party who charge the
Wings with all the evils of our banking,
it will be found that the inordinate III
crease Of Banks and of the banking Gap
ital took place under the Democratic .ad~
ministration of the General Government
And if we look to particular States in
which the same party held the asccnden
cy it will be found that the largest infla-
tons of the credit system that took place
any where occurred under their auspices.
No doubt both parties participated IN
those mutations. But who gave the i'm
pulse? Who had charge OF the Govern
ment when the expansion began and while
it continued As for the first impetus to
the movement, let the Treasury circulars
answer-lhus:
"TREAsURy DEPARTMENT, !
September 26, 1888.
'Sir,-The Girard Bank has been selcc-
ted by this Department as the depository
of the public money collected in Phlla-
delpbia and its vicinity.
The deposites of the public money 1r'H
enable you 10 afford INCREASED FAcLI-
TIES TO commerce and 10 EXTEND YOUR
ACCOMMODATIONS to individuals; and, as
the duiicsjwhich are payable to the Gov
ernmcnt arise from the business and enter