The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1846-04-30

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which the present surplus could be disposed
ofby payment of the government debt at its
preson, value, and by so doing saving a
heavy charge per annum 10 the Treasury,
that the law as it stands would meet the ap-
proval of the whole mercantile community.
~. Y. Morning Ncps.
From the New York Correspondence of the Washington
Union.
The arguments used by the Journal of
Commerce, to-day, against the sub-treasury,
tho not so designed, yet 90 very far 10 prove
the absolute necessity and oXpediency of the
measure. It commits gross blunder in
supposing bank bills and United States mint
warrants are equivalent as paper money
The United States at this time contains 4l2
banks, with only an aggregate specie cap
hal of$35, ,06l ,S6l, and $4,000, 600 dopos-
ties, consisting, for the most part, of each
others bills. On this small basis of specie,
they have, up 10 January last (ls46) in
creased their loans TO 1929, ,2s6, ,033-which
is equal to $G so for every one dollar of spe-
Gle in their uaults. Now, before United
States warrant issued on specie deposites
can be considered paper money, such as
the banks issue, man depositing $1,000
with the mint, should receive six warrants
for $4,000, and one warrant for $500, TO be-
put in circulation as paper money, and with
which spectators and favorite jobbers in
corporation securities might speculate on
produce, and cheat honest labor of its hard
earnings. Why are the banks so anxious to
obtain government depostes? What right
have they use them for the accommodation
of the relatives, friends, and favorites of the
directors and officers ofthese paper machines,
and by the use of which spectators may
grow rich, at the expense of honest indus
try?
Can system be tolerated which gathers
an enormous tax from the labor of the peo-
pie, in country, too, where capital is un-
taxed, for the support of the general govern
ment, and which, when collected, instead
of being applied in legitimate manner, is
placed under the control Of a few banks to
loan 10 their customers, who speculate on
the produce of the very people who earn the
money with which they operate. / Imported
small parcel of goods and had to pay Gun
Gle SAM SIS. You use sugar, woollens,
cottons, and various other high-taxed articles.
What right has the government TO take my
money, with yours, paid in good faith 10
support the federal government, and loan it
to set of banks, who are already receiving
interest on six paper dollars for one in spe-
Gle? What right have the banks to use our
money, or TO loan it to pampercd favorites
and reckless speculators? And when they
"burst," the people on whose taxes they
have specuated are forced to take their de-
preciated rags. The Scriptures tell US, that
when Satan first entered the world he attemp-
ted to corrupt and ruin mankind by en,cing
Eve to eat of the forbidden fruit. By mir
acle he was foled in realizing entire success
by the fall. We are informed that he still
fingers among men, seeking TO do mischief;
and we consider his most powerful iHstru-
ments ofproducing evil are found in the use
of paper money and alcohol. To corrupt
mankind TO great extent, it is only neces-
sary for him TO appear with a roll of paper
money in one hand, and bottle of whiskey
in the other. If he cannot induce man to
drink, he offers to loan him paper money,
and to make him rich. lie will in return, il
necessary, offer to sell him all the city lots
and rich lands in Chrislendom on bond and
mortgage
alluded yesterday to the late expansion
of the banks since November, ls45, and
particularly to those of Massachusetts, which.
in the following years lS45 and 1916, stood
thus:
1915. 1916
Loans. S4S. .77O.975 S52,64S, ,729