The south-western. [volume] (Shreveport, La.) 1852-1870, 1857-04-08
p slaas7s1
Communicated
=, make paper money worth more 'i'sa WI, -

] al IN III tll. e,sfer sates. by euaeaas ma
] NJ. .,r6 ard eee,g hank IN DIG Safe s'is'' ~
3s,hl, for The Issues Of any and every oaAa
j .y..st.I auder the laas ot the SlHts. "a.
=, Ia tl,e ttss place eacs bank, Mhs.t''
,Sn,alt shall issue bills counefsteata y
d. 7eo,,rt,.ii.r or secsetAfy 81 the state H'a
So, III ,,ny of the deposit Vt bonds 81 ias''
Gas. ar ,fthe United States at ~ per cshs.
/ 10 tlan tl4,r market value. when ihs bohas
d4npsled are MOI above par; but u baihe.s "1s
/ .ti',.r state bonds fand none but State bones
shauld b. used ] the comptroller should ISSUE
= p.r cent. less than their market value.
Oh ANY bank. or individual, redeeming
| The issues Or any suspended bank. 10 nave '''s
LIVER 10 demand Of lie comptroller full pay.
msnt in bonds at their market value y moi
above par whenever be presents The amount
I of any one bond. Hi,
Lei Us consider these plans. Many OF the
States have passed free or general banking
| law aulholi~ing any man OF sci q tafh " ae
rnSit certain bonds with the comptroller ana
receive therefor bills counseF>ished TO similar
amour. on nearly so. This rule has proven ,fn
neffrct bank may be run on, am 1"fesa !"
suspend for want ufspeeic. 1.-THE basis Is 'osa1e
Or United States interest paying bonds lheae
bonds would rise in value so soon as a banking
Law was passed making every bank ORGANISED
nr4.r The laws of the State bound 10 protect
each oilers credit No designing parties
wauId try is break or embarfass them. Hall the
hanks IN \ State were bound to sustain each
other. No person or combination oil persons
could break all the banks at once. Il bankers
,,Se the bonds OF their own State. or the United
States. all the people of the State are guar
4, .,I bay n
unfolding It's credit. Again. the State bonds
would b. bought up BY lis own citizens, pr cap
itaIists cunning into the State for the purpose OF
engaging in banking. and the bonds would re-
main locked up in the treasury. and mol, as Al
this lime, Bic hawked over the world and ped
died out at a heavy depreciation. By the plan
proposed, the State would collect the money
from the people TO pay the interest on the
bonds, and would pay Il out toits own citizens
again The SAT- would thus borrow from rs
own people, and its oan people become lenders
Is the Safe ii a pfsGt Of the interest on tfe
bonds first. and. secondly, loan out The BANK
bills at IN interest OF Ga ~ per cent: thus MAX
ing 10 IL per cent profit Allowing the comp
troIlcr to issue five per cent. more oi bank notes
on State or United States bonds, would make
the bankers prefer the bonds OF their own State
to any others. and keep them above par. For
the protection Of bill holders. each and every
bank. under the law OF the Safe, should bc
bound 10 redeem on presentation, IN gold or
silver. the issues ri any bank underline penalty
OF forfsising all banking privileges. Bill hoIl
ers. under Ills rule, having bills payable Al any
point in the Stale. in Of an Institution sus-
pending could get their notes cashed al every
place where "A bank was located. and would
have no fears of broken banks Or bank failures;
while the notes would be good or better than
gold or silver, being Fighter Of carriage and more
readily transported. Even now. ii people were
not fearful of losing by the failure of some bank
they would neither wish 10 carry nor see larg,
sums i gold or silver coin s.
Ii is true, that Stale might issue too MANY
bonds, or a STATE might carrIesly neglect To
pay Interest on them; or a failure OF GRIPS might
prevent the Stale from collecting tie usual
amount OF taxes from lis people 10 pay curr'ni
expenses aud interest On the bonds: but Ill tIli>
is not likely 10 occur, and even II il did the
montycd men, The bankers, would be- the frs
Sufferers, standing as they would between tbs
people and danger, The people could not lose
By this clause added til, -rnrr~l banking
laws OF the Stale or States. the whole credit OF
a State, the combined banking capital of the
State. and the whole people of STATE would be
bound in one bond 10 sustain the credit of lie
bonds issued by the State. and be thus hound' Il
for the circulating medium, and directly and
indirectly making it the du!y and interest OF
every man TO sustain The whole in one body.
throw out these remarks. hoping others
may look INTO The subject and discuss it, and
thus lead TO the discovery of perfect system Of
Jonhfng- EBB.
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PADRE V1JrL.-The correspondence of the
n. \. Herald. from Carthagena, New Grana-