The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1843-01-27
Aggregate computed
s aGj,ljl,i9i

! a dead loss Of LirCc krndrel aad si.iy fire
aHI a 6dY @Wioas, i no joke, to say nothing Of
that produced by fictitious banks and their notes.
and by the dcincG,ion", rohbcrieS frauds ,uhsQual
u'atlons, &c. through the 0gCucy Of Banks form.
ing on the whole were it possible 10 make the
computation, sum of most astounding magnitude
Very the iIauds of Banks arc monslyous hypo.
critics, if with these staggering statistic. before
them they can advocate more intimate coGnec-
ton between the banks aai the Federal Govern.
mcHt
We mentioned Yesterday that by the rcpor, Of
the Secretary of lh1 i'Gaslry, the Federal Gov
crument had lost altogether by the employment Of
banks as lis fiscal agents, the lnorlinatG sum of
Hrrc huadIc3 Gm sil'y fire md a hGlf miNioas
Of dollars. This loss Of coarse come out Of The
pockets Of the reop'c, since al deficiencies in the
revenue have 10 b. rcuudieh by Il tax paid in some
shape or other however occasionrI Allowing
tho adult population Of our country to be sy nil.
ions At the present time, each iaEirija9i may be
sci down rs having actually thrown away for the
purpose of supporting pcrucious intimacy be.
tween the banks aud the government, at least sir.
~ one doliGrs; or admitting HAT there were three
millions Of tax paying inhabitants Of our rcpuhllr,
every solitary one ci them has been compelled to
pay one huadrcl ami ireaiy.iro dollars, for the
mananaucc Of ono Of tho greatest evils with
which our country has ever been cursed
| Readers, wha, think yo Of this, The banks
have absolutely cost the public more than the rcvo-
lulirn which secured Us our national Independence.
and nearly twirc as much ns the war ut 1872
have they ever effected similar amount Of good:
| Would they ever lcrLuneratn Us inr 50 costly an
experiment Of their use We have paid So flr, at
least twenty times rs much for support Ci Banks
as for support Of c0"crnmpn--or in other woGs
we have each Of US paid one doiior To be- ecccd
by these souc.s corporations. for every fire cent,
wc have contributed towards tho preservation OF
oar liberties This il an astounding rcncc'Jn,
and one that every man should ponder upll, well
and deeply. We have nav severed all cnnncc.
ton between banl; and state. We arc released
! from, his worst oG taxes upon our industry. No
individual is a9lr compelled 10 pay Iinm he hard
earnings the sum that he was angunlly robbed OF
/ by the banks. because through the wholesome
regulation, oi tho lrd'prudrut Treasury Law, the
Federal Government il enabled TO transact its iis-
cal operations without such eNiravagani. uncertain.
and un;ru,;wonhy assistance. WHY then should
we abandon oar present SAFE, and economical
position There can he 10 sound aud lcncablc
rcasnn hr il, While there are many oI serious
magnitude 10 rrgc against ii. The nation hns al
ready lost the G,ishIul sum Of S3Gj ,ijl ,tg7, by
the employment OF banks. and how in the face Of
tUl- llCl any Hllh w Np'hN w Vlllul-
ISM can advocate a return 10 the old system we
arc at loss 10 imagine.
To return Ia our subject. the amount paid by the
c0mmuaiy 10 the banks the last ten years, for the
use Of banking Institutions. after dcduc,ing per
cent. interest for the use ct capital, and the cx-
pcnse Of managing, or rather of mis-managing
them, is computed in the report Of Secretary
Woodbury. ut SOL ,O0O, 0C0-nvernging nine mill
ions aai hiatt. almost, yearly! The aggregate
lnssrs sui ined hy thu community within The sime
period is computed at S2GD .0uG. 0u0-aH average
Of i,renfu millions If dollars por aInum 10 itesc
corporations Tor their kindness in dcfaudng it up
on al oplnriune occasions, and a SORT Of rrmu-
ncrilnn Tor the trouble and expense incurred in
issuing promises 10 "pay on EsmtRf." that will
probably rn, before Ultimate redemption! Verify.
rs regards the people, it may well be sad Tia,
charlottesville pleasure ia r.rai
Oi being cheated, Is 10 ciraf;'
For they not only tolerate the ubiquitous corpora
lions. but positively pay an immense pdcc to en-
Joy the luxury OF witnessing and feeling tile dis'iS-
,rous effect Of ihrii fraudulent practices How
long is .uch state of things 10 last '-Phiia. SPiTH
of The Times.