Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-06-09


do 1889, 2IS,457
do l840, 70.225
do lS4I, 3I,4C4
do 1912, Is 623
do lS43, 1876
The reader will observe a remarka-
Bile coincidence between the highest
prices for wheat and the highest amount
of F. & M. Bank notes in circulation -
The years 1886, '37, '3S, and '39, were
those which exhibited the greatest a
mount Of notes in circulation, and also
the highest prices for wheat; wheat sV-
eraging, during those four years, a dol
lar bushel. 10 the latter year fierce
war against the banks was waged, the
sub treasury organized, &c the conse.
quence Of which was, that the circuIa
ton of the notes Of said bank diminished
from 2lS457 to 7O225 dollars. 10
lS4l, the Harrison administration was
inaugurated, and the price Of wheat ran
up from Al 10 rs cents per bushel. In
iS42, the price ran down TO Ga cents,
and in '43 to 45.
We give the F & NJ. Bank Of Steu-
benvilIe, as sD example Of the WHOLE
The state OF all the Banks in Ohio, for
the last three years, as exhibited by the
Bank Commissioners, presents the fol
lowing results:
In December, lS40, 35 Banks had as
follows: .....
Loans $l1,449065
Circulation 4,23375I
Specie 1869 600
10 December. lS42, % Banks had as
follows:
Loans SG,937 1888
Circulation 1912 254
Specie S94 500
In March, ls43, 10 Banks had as fol-
lows:
Loans 3.929.374
Circulation 1,43l,747
Specie 630,726
The Cincinnati Gazette, in comment
ing upon this statement, says, "Tho
Banks whose charters have expired, are
quietly winding up their affairs. The
people OF Ohio owe them about eight
millions Of dollars, which must now be
paid without the aid of any Bank facili.
ties, out Of the resources Of the country,
and by the sweat of the brow Four
millions more are due the existing
banks, which must also be collected
within a short period, as no bank will
attempt 10 do business under the unfair
and impracIicable law OF last winter
making sum total Of twelve millions
due the banks, while the same insIitu
ilons owe the public less than three mil
lions. We take no account here, OF the
Pet Banks, or spurious institutions got
up under The auspices Of the Bank Com
missioners, OF whose affairs we can give
no account. Their days were few and
evil, and they are now scarcely heard
of, except in the efforts that are making
IN the Courts Of Law. TO subject their
owners and managers to the operation
OF the principle of individual RESPONSE
biIity, for the saIutary effects of which
they are beautiful example"
At present. the circulation Of all the
Banks in Ohio, is less than one and a
half millions
|! is now obvious, lst that the price
OF wheat has not, for seven years past,
been benefciaIly affected by foreign de
mand on the contrary 10 the same pro-
portion that explorations Of that article
TO foreign countries have diminished,
the price here has raised: I'd, that 10
the same proportion as money has been
forced out Of circulation by the oppo~
nenIs aud prosecutors Of the solvent
banks, wheat has fallen in price.
Now let us see how much money tho
people Of Jefferson county have lost, by
the warfare upon the banks and the con.
sequenl reduction in the price Of grain.
Referring 10 the census ol tho U, States,
taken in the year 1910, we find the fol-
loving as the quantity OF grain raised in
Jefferson county, to which we have of
fixed the average prices OF the four first
years included in our statement:
Bushels of wheat 38l .478 value 3Sl 478
do corn 249O29 do 996ll
do oats 398 22n DO 80 j55
do rye 5.S29 do 29ll
do buckwheat SAT do 2,423
do barley 3,l6S do 1854