Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-01-10

their capital employed IN diseounting the Banks
draw twice or thrice much interest as is drawn
from the same sum in the hands of private capital
lists. The gain of the Banks from taking the dis
count in advance, and charging g. or "a days inter-
est on notes which have but SIS or 93 days to run,
is also not little Ishould say them that 3S9 cents
the hundred dollars would not bea greater tax
than is now paid by individuals.
So would increase the capital of each of these
Banks half million, and require of them to estab
lish Branches at Goldsborough Salisbury, Charlotte
and Plymouth-three of these being points which
the completion of the Railroad may render impor-
tant; and hereafter further increase can be had,
when the public may call for it. Again, these Banks
should be required before the present charters
pire, to make good their discounts. which are now,
according to their reports, four millions five hundred
thousand dollars Who knows what part of this
heavy debt is solvent? And most certainly it ought
to be rendered such before it is allowed form any
part of the new Banks. So their charters, or any
others that may be granted should be limited to the
year 1880, when most of the present charters ex-
pire; and thus keep them all within the control of
the same Legislature. I cannot see how any
claiming to be disciple of jackson, and an advo-
cate of the Sub Treasury-which all candid men are
forced to admit has worked wel-can think of char
tering any Bank not founded upon real and not
pretended specie basis or who tolerate any sys-
tenn which gives US q small note paper for specie
circulation. Such was one of the leading objects of
that great patriot, for which, conceive, he de-
serves the highest gratitude of the people of the
present day. Well has it been said of these paper
eHeC-
tua of all inventions to fertilze the rich mans field
with the sweat of the poor mans brow. Ordinary
tyranny oppression and taxation bear lightly the
community, compared with fraudulent currencies
and the robberes committed by deprecated paper"
Give us sound currency, founded upon specie
basis, and with proper economy, industry and per-
severance cannot fail to prosper. Without these,
neither Banks credits can help us.
The following conclusions, as the result of these
communications, are most respectfully submitted to
the calm consideration of the public:
l. That the charters of the Bank of the State and
of the Bank of Cape Fear be renewed, with an in
of five hundred thousand dollars each, and to
run for twenty years
2. That they shall not issue or pay out any note
of a less denomination than five dollars, nor issue
any, note payable at any other place than at the
Bank from which issued. And the note of no Bank
in the State shall be receivable in payment of public
Dues which shall not within six months, signify its
acceptance of these terms.
8. That the refusal of any Bank to pay its
notes demand it shall forfeit double the amount
demanded to be recovered before any Justice of the
Peace, or Court having jurisdiction.
4. That a tax of 334 cents on each share of the
capital stock subscribed for and paid in, shall be paid
annually to the State.
5. That the Banks shall not be allowed to divide
more than per cent. annually, over and above
the tax to the State.
6. That these Banks shall be required, before the
expiration of their present charters to make good
all notes or claims then DUE or shall be paid off if
doubtful and held in trust for the old stockholders
PUBLIUS.