The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-02-05

length utterly failed,for We believe its stock
never rose above 2i per cent. This failure
adds $35, ,000. 900 10 the above sum.
Losses by banks ,ohich hare failed since
1889, computed on their capital circulation,
deposits, and balances o,oing.--The whole
capital Of the banks which failed since 1889
being ascertained and estimated at sos, ,7S7,-
300, II is calculated in the report that in one
half of the cases of failure there was a total
loss of the capitol stock, and on the other
half AN average of one half Of the capital
This would make the aggregate loss on cap
ital $72 2,590,4Sl. The loss on circulation
is estimated at $lS,l47,620, and the loss
on deposits and balances to banks, $lS,l47,
620-making the whole loss by bank fail
ures, CLOS, s,sS5,72l.
Loss by the community, through deprecia-
tion Of bank paper in cases Of suspension Of
specie paymcnts.-At the time of the first
suspension, in 1914, the paper circulation
Of The bunks was about $75,000,000. The
proportion of this issued by banks which sus-
pended then, was $50, 100000. Averaging
the loss on this in discounts at Is per cent,
S., ,500,0 900 is given. During the three years
this whole currency is supposed TO have
been used three times with a like loss, ma
king further loss Of $l5,000,000. This
would make the whole loss, through depre-
citation of paper, from 1914 to 1877, $22,-
100000. At the time, Of the suspension in
1887, the circulation out was about $780,
100000. The whole loss computed on this
from 1887 to 1888, is $44,00O,O00. The
suspension Of 1889, under similar calcula-
tions, gives loss of $22,500,000. Add
So, 900, 900 10 this for loss on single bank
failures at different periods, and the aggre-
gate of $95 ZOO, 900 is exhibited as the loss
sustained by the community by the depre-
citation of the paper ofsuspended banks.
Ohio has numbered, up to this time, We
believe, 81 bank failures, besides suspen-
sons, in all which cases, the depreciation
and total loss to the community cannot be
less than the present circulating medium Of
the State,
Loss or destruction Of bank notes since
1889, by accidents, Scc.-The summary of
these losses given in the report, stands thus:
Before 1911, $960,O00; from 1911 to 1880,
So, ,346,666; from 1880 TO 1910, 1854
666-making an aggregate of losses to the
community, under this head, of $7,l2l,-
332.
Aggregate of losses since l779 to the people,
through the existence of banks and the use of
bank paper.-Losses by bank failures, as
before stated, $lOs,ss5,72l; losses by the
suspensions of specie payments by banks,
and consequent depreciation on their notes,
100000; losses by destruction of bank
notes by accidents, $7,121 1892, and losses
by counterfeit bank notes, beyond losses in
coin, S4,444,444. Add to these, losses by
fluctuations in bank currency affecting prices,
extravagance in living, sacrifices Of property,
and by only part of the other incidents to
the banking system, not computed above, at
$l50,0O0,0o0, and we have the enormous
aggregate of 1885, ,45l ,497.
Amount paid by the community to the banks
annually, the last ten gears, for the use Of
banking inStitutions.-I the first view taken
of this part of the subject by the Secretary
of the Treasury, he shows that the amount
annually paid to banks for the use of their
credit, is $2S, 200, 900, or, during the last
ten years, $2s2, 100000. But in the second
view, he calculates only the amount receiv-
ed over six per cent. per annum, and shows
that the annual payment by the community
to the banks over legal interest is $l4 ,0OO,-
600, or was for the past ten years $l4l ,OOO,-
900.
The final statement in the report exhibits
| as near an approximation Of the whole a
mount of bank capital owned abroad as can
well be ascer!ained. 1t shows that abroad
there was owned of the capital of the United
States Bank $24 ,405, 800 (No wonder that
some foreign Spectators, as we'll as some
honest men, complained that bad faith was
preserved with them when the dishonest
managers of this institution swindled them
out of Stock to the amount of upwards ol
twenty-four millions. Bankers are the only
genuine repudiators.) Of banks in New
York, Philadelphia, Baltimore and New Or.
leans, $7,5Oo,O00; and of banks in Other
parts of the country, $3,750, ,00o-showine
the aggregate bank capital of the Unltee
States owned abroad to be $35 1855, ,500.-
According to the preceding statements o
the aggregate of losses since 1889, says Mr.
Woodbury., on an analysis Of them there
must be considered to have happened with
in the last ten years, tpo hundred millions O
dollars, OF annually tDenty millions dollars
i If the people of this Union are an
nually compelled to pay 10 Bankers ;
sum equal TO our National tariff, sales o
public lands, and all, do we not pay dear
iy for this most deadly monopoly? 1t be
comes the farmers and others who seek only
by labor TO maintain themselves, TO conside
whether the good effects Of bank paper, if
has any, are equal TO the vast and onerous
taxation it imposes; and if not, will they no
4 Iand their xntea To nut down a system which