The southerner., 1856-08-02

declared forseyeral years has been ten
per cent. per amman, which is six hun
fdred ed#theusands@dollars---aaa4bonuss,> of
one and one-half per cent. per annum, is
ninety thousand dollars ninety bank
officers, with an average salary of one
thousand dollars each, iJ ninety thou
sand d"iiars, leaving out incidental ex-
penses,1 makes the sum total inceme Of
the Banks OF this State, seven hundred
and eighty thousand dollars. But al
low, the Banks six per cent. per annum
on their. capital, Ga large portion Of
which is of their own manufacture }
and we have the sum of three hundred
and sixty thousand dollars, which leaves
a balance of four hundred and twenty
thousand dollars, which the producing
classes of this State pay for the use of
Banks and bank note. currency. 80. !
We will .Eow. compare this enormous
load of tax with the public tax of 1858,
and paid into the State Treasury in
1881; which was one handred and
eighty-eight thousand two hundred and
forty dollars; (see Comptroller's state
ment.) Then assuming the public tax
of 1855, and to be paid into the State
Treasury in 1856, to be twice the
amount of 1888, we will then have the
sum of three hundred and seventy-six
thousand four hundred and eighty dol
lars; which makes forty-thrce thousand
FIVE hundred and twenty dollars more
paid by the producing classes for the
use of Banks aud bank uote currency,
than they wal haze to pay into the
State Treasury for the public taxes of
1855. Agreeably to the census of
1850, the white male population Of this
State, over twenty and under fifty years
of age, with the addition Of eight per
cent. for increase of population. We have
a population at this time of one hundred
and three thousand three hundred and
twenty six, liable to pay taxes; and it
would require a capltation tax of over
four dollars per head per annum, to
pay the four huudred and twenty taeu-
sand dollars which the Banks receive
over and above six per C, ut. per annum
on their capital. So z~~
The advocates Of the banking system
are frequently harping that it is for the
public good, and that it is the interest
of the people to ha.e small note csrea-
lation, wkich they know is false. They
however know this, than small not,s
can have 4 more general circulation
among the laboriug classes, aud thereby
thousands of dollars will be worn out,
lost and destroyed, which will afford
larg, profit to tue Banks. o, the pre-
cioe,s people, how we'll they love them;
and think they have good cause to
love them. Four hundred and twenty
Thousand 'deMIrs is loving quite s'ropg,
and if the Bank stockholders have ma
ny such fits of love, | think they will
love YOU out of house and home. Ii
the Banks of this State persist i'll their
system of lniquity, you have the rcme-
dy in your bands; you have the right
and the power to elect men to the Gen
eral Assembly, who will call a Conven-
ton aud repeal every Bank charter in
the State. The expense of Conven-
ton would not be half as much as you
pay annually to the Banks. AL thc
purposes of trade could be carried on
by Banks of discount and deposit, with
cut allowing them the privilege of issu-
ing or circulating paper as money; for
that is the cause of the great evils of
the banking syStem-they can make
Bank paper plenty when it suits their
interest, and when it is their interest
they can make it scarce. The metamor-
phosis of issuing two for one on their
capital, places it in their power to mako
expansions and contractions, which are
ruinous to the people they profess to
love so much. And as to Bank otlcers
making use of the power, let the pre-
sent state of money matters in North
Carolina tell. ..-t.. .....
Over she Banks of New York you
have no control, but there are IN the cl-
ty Of New York 6fty Ave Banks, With
an aggregate capital of over forty-eight
million of dollars, all doing profsa-
BILE business and paying their officers
large salries who pays all this? The
citizens Of North Carolina pay their
part in proportion to their trade with
New York, which is many millions of
dollars annually There is no data by
which we can ascertains the amountsthe
the citizens of this State III the course
of trade pay annually to the Banks Of
New York but we will assume it to be