Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1864-12-16

I.| I| 49,. I| I|Il r. -
- = l. M llS5sly . ~ Iaak-
~ eap1lG - q l1n1l1rhn ~ beso psesaG-
y el1tseD( ~ ss1ly - ih(1pves'I
~ e C. aaeo r r. bial ~ pins|
- ~ % elatss - = ~ NJ
$3.50 ~ ~ ~ - ebe elnnC &
~ NJ : ~ nafIl&a s)uaens - lA6o0
Wifb ue6s 1i0eulty. Dut sven IN tbese
0eeooo ~ ~ csennisasioa efnaGional banks
b. ~ ofoetheadseu q Seaee hanks, and tn
Transfer 81 the assets d The latter n the
ebftnss, the change has been already. in
nany instances, sGeeesd withaut leee - the
oeness, and with very little practical incon
venience to the managers.
II il also an interesting fact, that the
s(o,k of State banks which have besa seeong.
Cd into national associations he's not been
Deprecated b the change; on the contrary
the shares Of most Of them have been ap-
preciated, and know Of 10 instance in
which their real Or iussket value has bsen
injuriously aAeolrd by Il. Thi. bet sun.
ciensly reiutes the charge, sometimes urged
against the system, that it WAS being forced
upon tho country to the prejudice Of the
Stockholders Of State institutions.
Il may be proper for me to state another
fact in this connection Of interest to the pub
lie, which II, that the national banks are,
without any known exceptions, in ssfe, a.
though some Of them are in inexperienced
hands, and that the fears that the national
banking system would be the means Of ILL.,
ing the country with banks Of fictitious cap
itsls, and be . reproduction, on . large
scale, of the stock banking systems Of
States in which they had proved to be .
failure, il not fraud, are, from present in.
d:casions, without real foundation.
The fact that such apprehensions were
entertained or were profcssed to be enter
tanned by the bankers Of State, in which
system similar in some Of it, main fea-
lures was in practical operation, inti,nids-
ted, for . while. the capitalists Of other
States. and retarded the Reorganization Of
State banks, but worked no permanent in
jury to the national system. On the con.
trary, the expression Of these fears has led
to thorough examination Of the act. and .
careful observation Of It's administration,
and the result has been favorable to BOTH
II has been discovered that in many impor-
tant particulars the national system differs
from, end Is an improvement upon the State
System, which it the most closely resembles;
that It restricts circulation to ninety per
cent. of the bonds on deposit with the treas.
urer. and prohibits the banks from issuing
notes to an amount exceeding their bona
file paid up capitals. sworn to BY their off,
ccrx that every interior national hank, in
addition to rcleeming ito notes At it's own
counter, is compelled to redeem at par, At
some commercial centre, thereby tending to
prevent high rates OF exchange between the
different sections Of the country, and that,
in case Of the failure Of . bank to redeem
its notes according to the provisions Of the
act, these notes, instead of being deprecated,
would be at once redecmable in lawful
money, ct the treasury Of che United States.
II has been also ascertaineJ that the comp
troller is requiring the most satisfactory ref.
erenccs or c, edcntiais in regard to the stand.
ing and responsibility Of the persons propos-
ing to organize national banks, and il insti.
tuting = system Of examinations which will
do much to expose and check improper
practices on the pa of the bankers. and
violations Of wholesome provisions Of the
law.
Continued Tomorrow.