, 1864-02-05
NATIONAL BANKS-TAX THE 0TH-
FRS


- DC Aaiia4aal ia4aalBaaE-aalTency is beginning
10 make isAt apPfar9nef, and We believe it l.
received Vnh aAttrs3l flavor by the people.
ihs .Na{ IIoI il Inception was prepared BY
Mr.: Chase sgrcentbackB.: It has the smack oi
natipda1itS iabantt.kk ali people know that
Government securities nrc deposited for every
..donaf haYa, lad ddEheretore that they eau.
not lose the proceeds Of their hard-earned
toh Ind 8esidG,a HIT hit that they rezeceIy-
lAble FROM the Atlantic n tp, the Pacific for post
afssA. ca, taRes, md allelheTducs to the Treasury
of The enatiou,*.makes1hem next to green
backs, TIT most drsifible hnd the most popu-
:laF noneEra money m nan A Gan possibly have.
The Inconvenience asd serious loss. insep-
a1able ffoh tn nhg bf { state Bank currency,
feghlated b'ysi h5res E 1lha6 thirty different
:aeje1 II off o1pcss IS aawa7 ,the impossi-
bility Of even bankers themselves
thNo1ing an2Sfth!a E'As56i sbatef OF the sound
1eet 5f H 51ah 81 ths money thcy use
from day to .dayJ,nnd many other reasons
~tsRt 1hfg B5 a7a a8fs1 NIB 30 cosent and so
vel understood by 3he .paubnc that per-
.IFftli, :egrIsncE, receivable every
.Nhere,. has become q 1tzusinesa necessity to
the entire notion;:s4 he 9fnconyeniences Of a
36caf Btate afs "a tilt less At the West
than tp tle older, Ststss.; From the necessi-
Ties OF our position and from the more gene
raj information a ok people in regard to
financial nathis,, the: bills Of almost auy
sound bunk IN free States will pass freely;
butlet,7aman; with his pockets full Of the
best bills on any pfatfe banks Of Michigan,
'fiifHoAis, WISCONSIN, Indiana, or even Of Ohio,
TT, TO bug 1his1 dinner in some small town in
New England, or the Middle States, and he
sFill " xnce 6e made sore1y to feel that his
money Is Bit tic poorest kind Of " bank rass.n
lIhe facility With which the currency Of East.
e1n banks can.be passed at the West, subjects
onf Fetplf 70 4mmense loss. Scarcely year
paEssg tat1 from: one to dozen "wild cat'.
concetns do not "blow upr and swindle the
.Mskt: gut 7u; hundreds Of thousands, and
often out OF millions Of dollars.
From A}l thc mnumcrable evils Of the local
,b5Gpkf ,5s ths National Bank system will save the
e&:0pn4<5c y: Congress will only tax the old
:" rag m1lr' currency out of existence. It is
11aan that the National banks cannot COM
pete *itltthe old "dcbtfactories," for the
34tte1. tiAsue hills poorer than the National
currency, and hence the inferloris sure, in the
end, to- suppiant the bills of the National
p hanka-; sBJ;eradually taxing the circulation
OF the old banks out Of existence, no serious
4n}u5f1ee would be done even to them, for
they could retire their bills, rcorgnnize, and
PLACE their capital under tho National Bank
daw-v Ins the mean time, the $500, ,0oo, 900
worth s'of Government bonds now in tte
hands, I: ooI individuals, less the amount already
deposited for national currency, would be
absorbed, and laid away in the vaults OF the
Treasury at Washington, making room for as
many ln1bre, or enabling Mr.. Chase to isspe
:fttotAf%p,to tt three hundred millions more of
Efeenbacks, without initiating the currency
peSAae ts present limit. By this means, also,
the Interest Of this vast Eum would be saved
M3tbe Government. Let, therefore. The
mernbeEs Of Congress nerve themselves to
thlse'TpEk Els OF taxing the old State Bank cur
Eenryout y Of sight, and the people will sus
tnla ttpslr action In fact they earnestly ask
tor, they demand it.