New-York daily tribune., 1858-07-24

Democracy of that Stats, though rampant 10 taer
denuncistion of banking, as the most odous form OF
srt'ocraey, persisten.ly refuse to abolish the sPe-
cis 81 stem, under which all frauds are perpetrAted,
and to substitute the free system, s1ch Is oars IN
der which zone are committed. They cling to the
ou CRY sg.inst it a. an available stalking horse on
which each demseogue mounts IN his turn, Jds' S
90 election is about occurring. No sooner the
victory secured than the lying clamor ceases, and
they charter BY dozens the very institutions so re-
Gently denounced. Free Banking, with circuls-
ton secured from all dagger of depreciation, they
reject, and persist in giving to the people that only
BY whose use they are periodically plundered.
Amorg the institutions thus chartered, were
the Tioea County Bank the Bank of Craw-
ford County, the Shamokin Bank, the
Octorars Bank, and the Bank Of Paenixvils.
These charters had been granted bu! short time
~heD rumois found TIER way into toe newspapers
that ,in,ter doiDgs were being practced in organ
7ir Them that they were sl, in fact, mere bogus
concern, got up for swindlpg purposes. Amysieri-
ous conr ect.on was shown to exist between one Of
ITEM ard Passenger Railway Company 10 Phus-
d.lpbs, which ought to have no siiliatiou with
c,un.ry bank. These rumors acquired so much
consistency that the House Of Representatives sp-
pointed q comm ttee TO examine the doings Of tie
five banks shove ramed. The Com nit.ee has just
now presented to tie Governor report Of that tx.
animation. Its details. though So di.gracefal to all
corcerpei are only part and parcel Of the villsiny
which bas unhappily been seen Of such universal
prevalence.
In Jure, IS5, books were opened fox subscrip-
ton t. the stock Of the Tioga County Bank. Mr.
Wells D. Walbrdge of Buffalo, n. T., subscribed
for 200 shares, Lydia r. walbrdge for 80, aud
seven other females for $50 shares Mr. j. Porter
Brawley of Meadville Pa, took 200 shares, Mr..
Edward +. Thayer 200, and the whole number sub
scrbed was I,O4O. Mr. G.. 7. Steers of Buffalo
acted as teller, but no election Of officers hsd been
held, though Board of Directors was formed.
TIE money paid in for subscriptions amounted to
S27 $40, bat four discounts were i'm mmedateIy made
for $50, I55, to parties who reside in Buffalo or
places III knowp In fact, all the discounts went to
Buffalo, or to parties whose residence cannot be
sfcertained. The circulation on June "a was
s94 coo, the cash on hand 49, $50, bills receivable
S69 600, Office notes $50 s75, making sorry ahow
for bilholders The President and Cashier are said
to be gentlemen of integrity and respectabilty, but
no mer ton is made Of their intelligence. The pre-
sumption is that they have been victimized BY the
shIewd strangers fom Buffalo and parts unknown
who pulled the wires and got the discounts.
The Crawford County Bank was attempted to DO
set in motion in Augu,t, but it would seem that no
he,dway could be made until Tioga began to make
discounts. As soon as they commenced, the sub
.cripton TO Crawford filled up. II reached ,53i
shares Of which l,2l0 are reported as being tsken
in Buffalo and parts unknown" Walbridse and
Thayer lad go shares. Tioga notes came in with
rush 10 pay for this stock. Some honest farmers
took about 30 shares, and paid in good hard coin;
but Tosa was the great fountain of supply. In
fact its notes seem TO have been issued for the
sole purpose Of paying for Crawford stock, as all
issutd up to that period were used in that way.
Mr.. Walbridge was facetiously indefinite in his fig
ures Whtn asked for statement he said the
amount paid in was about $3S, 900, the expenses
"some" $780, the amount in gold |" some" S13, 900,
and the Tiogs rotes perhaps $4,000. This
was the utmost the Commissioners could extra,t
from him. Crawford now has circulation Of
Possibly some coppers may have come in since this
coin was counted, but the safer plan will be TO lot
CIaw ford alone.
Bools ior the Shamokin Bank were opened on
Nov. 30, when 10 shares were taken-more honest
natives without doubt. In December following
the large additional number Of seven more shares
were taken-other natives but not to the manner
born. On TIE 4th of January, however, swing
ing subscription came in of 5?i shares. The party
taking the contained seven Thayers, but Walordge
appears to have been non est. Eight females took
some Coo shares. This bank had President who
appeared not 10 be stockholter. Buffalo and its
dependencies rejoiced in owning 400 Of these
shares. One of the Thayers paid fJr all the stock
not owned in Shamokiu, to do which he produced
tie inevitable Tioga together with q smart sprin-
bliIg of CraHf9rd money. Thus as Tioga fixed up
Crawford, so Crawford ard Tiosa fixed up Shamo-
kin-s specimen Of Buffalo fahncierDg now for
the frt time made apparent. Messrs. Cnderhill
n LockhaIt, and Mr. j. Jackson of New-York,
have hsd discounts at Shamokin for SAL 900, giving
j. W. and r r. Underhlll OF Indianapolis as in.
doIserr. TIE Commissioners do not seem to have
al exalted opinion Of the Underhills. One Zadoc
Street of Ohio rather did this bank out Of $4,000
on petsnse Of circulating its bills great way from
boue-and Of probably keeping them there. Nc
David a. Robinson Of Buffalo is the Cashier Of
Sbsmolip. The circulation 10 :26, 100, and the
sIecie $2,3'
The Bank Of PheniIsille opened its books for
snbscripi, January II, aid up 10 February 6, lS3
,bar,s we're taken. Then came another big lick of
rL.n, IL 1 sbaraa ala a1Ihaf N;