Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-10-03
From the HiilsbOrOugh Gag.
LOOK AT THIs-BANK PROFITS
UNDER THE Law OF LAST WIN

that the Jaw OF last WiitoI 70 tu ptoShSo~
BILE, for two reasons, and that those who
advocate il are bard money men. The
first reason assigned by those opposed 10
il, is that it dees not allow the banker
q fair profit. Now in the first place il
peTmils them to issue one dollar IN paper
for each dollar ofcspital paid in, and to
loan and discount notes and bills TO
twice the amount Of the capital paid in.
We will for illustration, suppose that
bank starts on a capital Of one hundred
thousand dollars-tbe specie paid in: 1t
loans out $66, 900, or two thirds OF the
capital ct 6 per cent for six months, oPon
GOOD notes and security, the interest on
the sum would be $l9S0 90, which ln-
teTest is paid in advance. This interest,
too, they Immediately loan out at the
same per cent After making these loans
there remains in the bank the sum Of 3S,.
600, or one third of the capital stock
Upon this the law permits them to issue
SiOO 600, Ofits notes, or three dollars
in paper for each dollar Of specie re-
naming in the vaults Of the bank. This
one hundred thousand Of their own paper
they loan for six months, at six per cent,
and the interest is $4,000. This inter-
est, again, being paid in advance, is imN
mediaiely loaned. In addition 10 this,
the law permits Them to loan and dis
count notes and bills 10 the amount OF
twice it's capital stock Of 800 600, ma.
king 5000 600. Upon this sum, at the
rate Of per cent. for six months. they
make $4,000, and. the interest paid in
advance, they likewise loan at SIX per
cent. Now coun. all this up, interest,
and interest upon interest which they are
authorized under tie law to take; and
the amount realized by the banker upon
bis capital of1OO,000, in six months, IS
the neat little sum OF gil 1928 Ss-gp-
Oards of tDenty ttOO per cent? Inc
WbiRs say the bankers ought TO have eigh
teen per cent, that lass than eighteen
per cent. is not sufficient profit after pay
ing expenses. Well here the banker can
realize more than eighteen per cent after
paving expenses! The private indlvld'
ual can take, according 10 law, but oPer
cent, and has to pay tax for the prlVll-
oRe. Is this not discrimination enough
in favor of the rich bankers3
The other reason assigned. s,that bank
srs will not take stock because they are
bound, after The assets Of the bank are ex-
hausted, to pay the remainder OF their
debts! Is not this an honest reasons-
II the farmers, mechanics, or laborIng
man owes a bank, he must pay the last
farthinR. if il takes the bread out Of his
children's mouths. And when did you
ever see such sympathy manifested by
these tender hearted wings towards The
mechanic or laborihg msnH Never while
the private citizen can loan his money at
no-biRher rate than six per cent, and 10
bound in all the property he has for the
payment of his debts, the Wings are not
satisfied that the banker shall take IL or
20 per cent, but they desire, in addition,
TO free them from the liability TO pay
their paper promises! Are bankers bets
ter than other peOple9 The Cons!ltn'
ton looks upon Us all as equal in Po-
litical rights; and until we are cenVincN
ed that the constitution is wrong, we can
never yield up our privileges into the
hands OF bankers, merely because they
are rich and well-bOrn.'
We earnestly call upon the people 10
consider we'll Of these things befOTe
they east their votes for whig candidates.
Do the people again want Set Of unre'
stricted, sOulless, shinplasier shaving
shops fastened upon the country for
twenty OF thirty yearsG A set Of inSti'
Iutions, which, although perfectly IRE
Sponsible 10 the people, yet have the
power by expansions and contracilOns Of
raising aud lowering the prices Of real cS'
tate, of the products Of the country, and
Of labor, ss mag best suit their mercena'
~ and selfish Schemesf Or do they de-
sire 10 sac an overwhelming and over
pOweri0g monster in the shape Of State
Bank with branchesf Some Of the wings
now propose this bold, extraVagant and
fool.hsrdy project, with a capital Of ten
two millions Of which to BE- ta'
ken By the State, although the State has
not only not dollar in her treasury but ia
millions in debt. Whiggery would thus
increase the State debt by borrowing two
millions of dollars, TO bank upon, and
thereby add to our taxes, already exOrbi.
liant, one hundred and twenty thousand
dollars per year! And what restrictions
and safe. guards DO they propose to throw
lround this monster for the safety Of the
bin hoIderH Only that each branch shall
receive The papers of ell the others. Now
suppose that one or twobEanches should
refuse TO redeem the notes OF the 9th.
srs end blow up. Would not the 9th.
sFS do likewise, and the mother bank
follow suit-all banking on the same
capital. The whole body Of democracy
are favorable to a safe and practicable
system Of banking--liberal towardS the