The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1859-04-27
$s,s10,0lO %
JAMES NJ. RAY, Cashier.

ninth of the discounts are in local paper
Its customers are-eight-ninths of them
by the course of their business, or the policy
of the bank, made drawers of bills Of ex-
change. If the business of the bank was
one in which all classes equally participated,
and should it be taken as representing the
course of the business of the people-as it
legitimately should-a stranger would mis-
take the farmers ard mechanics of Indiana,
for one of the most exclusively commercial
people on the face of the globe; they would
appear to be solely community of exporters.
The home business of the State-the basis
of its prosperity and growth-is so well en-
dowed with an abundance of capital that it
appears to demand, or get no aid from the
bank to whom has been given the exclusive
control Of banking in the State. Partisan
Legislation has brought the masses of the
people to happy condition of independence
of bank accommodations. They are as eff
fectually freed from them, as they had 40
banks. 1.-
bic condition, as, with its peculiar privileges
and generous customers, might have been
expected. 1t ia safe beyond any question
from the most captious and timid and it is
likely to continue to be, to the end of its
charter; and if security was the only con-
sideration in comforting the exclusive privi-
laoac the raop,la af IpJ;ara bava rro,,a, ono
of the safest banks ever created for it is
likely to be one Of the richest and most
powerful corporations ever brought into be-
ing. 1t will take care of its own interests,
and perhaps extend its conservative guard
ianship to the whole business of the State,
which it will be sure to keep within prudent
bounds, while it has the sole power of reg
ulating it.
That il is very safe and hourishing in
stitution is manifest from its statement. Its
capital stock paid in is about 50, 700, OOO-
After paying all the extraordinary expenses
of it's establishment and organization-with
the bonus to the patriotic men who secured
its admirable charter-and after making
handsome dividends to its stockholders-it
had on the first day of April, instant, when
it had been but twenty or twenty-one months
in existence, surplus of profits on hand of
1864, 433. While organizing it could not
have done much business for the first six
months. lts gains, therefore, have been
chiefly realized in about fifteen months. In
that short time, it has paid all its expenses,
ordinary and extraordinary, and made divi-
dends to stockholders, and laid up sur
plus fund of more than tpenty per cent on
its entire capital. If it has done this at the
start, what will it do when it gets the full
sweep? 1t will surely be safe institu ton.
Every one may go to sleep upon its bills,
with entire confidence that il will never
break till the whole population are utterly
bankrupt; for while there is value of any
kind in the State, the Bank will have its
grasp on it, and will pay her debts with it,
if no others are paid
If the Bank can add twenty per cent. TO
its capital in one year, and goes on COM
pounding at the same rate to the limits OF
its charter, every one familiar with such
problems can cypher up what portion of the
property of the State viii be held in her
vaults in 20 years, and whether she is like.
ly to be good for her legal debts, in the
meantime.
The bank, We presume, has divided equa
IN tom har Ill
the bonus for the charter and tho extraordi
nary expenses Of organizing, have been
probably, ten per cent. more; she must
therefore, have realized, in her short exist
ence, under partial organization, about Al
per cent. net profits. Taking the past as ,
criterion, the net earnings of the branches
for the future will be from Is to 80 per cent
per annum, in spite of the constitutions
prohibition that banks shall charge no high
er interest than is allowed by law.
Does not the possession of such an exch
sive privilege to make money out of tn
public faith-to say nothing of the name
bywhich twas procured-impose upon thos
who hold it, some higher and more imperi
Gus duty, than to consult only their privat
advantage-to look ouly at the accummI
lations in the Golfers Of the Institution the
have secured a most profitable and powell
monopoly one that confers q vast advaI
tage over their fellow-citizens, and there
an imperative moral obligation that it
used With great moderation for their ow
benefit, and wtha wise and liberal regard f
the public good. II il be not, the sense
violated moral duty will become 50 strou
in the minds OF the people THAI the barrie