Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1863-05-13


allowed them gold also They surcly had
a better right TO II than tho capitalists.
Bot VI the above was ripht-which ! SEQ
many honest, able and good mon pros
nounce 10 be honorable aud right
question very much the mode Of getting
the gold, which is indeed the trouble
throughout, for II just passing the laws
would relieve us, we would, ] presume,
get relief but by this they have Extend
ed to the banks Of the Commonwealth
privileges aud released them from obliga'
lions to which | think they were not enti'
tied, and lessened tho means OF paying
their notes held by the poor OF our Stale
Now let us take q view OF these banks,
not politically, but as members OF all parN
ties that must meet the issue before long.
The increase of paper currency is so extra
ordinary, and the metallic currency al the
same time decreasing. Now Tor the recN
ord (:
Bank report for Nov, Fsb'y and Nav for '62,
Feb. 4, 1862, gold and silver in the
vaults of the Banks, slO,S2S,0Ss
Nov. 4, 1862, " 9,4e7,234
DECREASED in o mos. Penna. Banks, 1886 ,754
Feb. 4, 1862, notes in circulation of
the Banks Of Pennsylvania, sl7,250,433
Nov. a., 1852, " 2 1889, 50i
Increase of circulation in 0 months, $lO,4S9,O7l
This shows a fearful record. Several Of
the aforementioned banks, some I or ) are
Safety Fond banks, whose gold and silver
is not bound for the redemption of any
notes with one or two banks started in
the fall oflS62, which had not their issue
of notes out on November a.. The list
shows o. banks in all, many OF those have,
in the nine months alluded to, doubled,
or nearly so, their specie in the vaults, and
lessened their circulation very much -
whilst a great many have doubled their
circulation and decreased in specie funds.
Reference 10 the reports will show this.
Now, the amount of capital actually paid in,
including the Safety Fund Banks and the new
Banks, up to 4th Nov. 1862, was $25,9l7,65o
OF this amount wac owned by the in
diyidual Blk Of their own capital, l,O73,O45
Leaving the actual capital Of oil the
Pennsylvania Banks, including
the Safety Fund Banks, S2I,S44,6 COS
The amount of the General Governments liz
bilty to The Banks on the 4tb Nov. 1862. in
Bonds, Treasury notes, &c. OH interest, accord
ing to The report, was $27,Si2,3SI
The whole Banking capital of Peuus., : 5,S4i, COS
Balance of the Governments liabili-
ty over all their capital, $2,e97, 776
Add to this stock held by said Banks
in various companies, such as Rail
road, Western lands, Bridges, Gas
and Fire companies, Banks both
North and South, &C., &c. 2,cSs,222
Making a total Of $685., POS
This shows that the banks of Peunsyi.
yania have taken in loans, stocks, &C.,
over all their capital, over Five 11d One.
Half Millions OF Dollars, besides. at the
present time, or say 4th of May, 1863, af-
ter paying the interest on the State debt
ard other leaks, the specie fund will be
much reduced and the notes in circulisiou
very much increased, and by that time ",
will have also 100000 OF demand notes.
These we will need to pay our part of tho
debt. Now let us see about how much
our part of that would be if our troubles
were TO cease now, say TwentySE Eight
Hundred Millions-some put it over aud
some under, but think this n low est.
mate. Now the apportioument made by
Congress for the Twenty Millions of Inter-
nal Revenue tax, as our guide in the ap.
~portionment, Pennsylvania would have TO
pay over one'seventh and not quite the
one-eigRth. but take it at one seventh and
our part Of the debt would be 800, 000,-
000-to which add 1900, 900 bounty and
relief, and 5000, 600 State debt. Over
sixteen times the whole banking capital
OF Pennsylvania, now can any person
study the above and ever expect to see a
metallic currency in his day. Why, sirs,
il appears as if We all had taken passage
on the fatal train, and the officers had run
her under a full head Of steam until We
have come to the down grade-she is run
ming at full speed, and the engineer refu>
ses to reverse the action-but like Samson
will make a martyr of himself by dying in
the ruins.
Now, sirs, if any person will make the
foregoing his study for twenty-fou hours,
if he is honest, | think he will be for
peace rs well as me. | am for Lincoln's
motto you cannot fight always, and the
question or cause of difference will be to
settle, after gu cease fighting"
LAWRENCE.