The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1865-06-28
NATlOiAL BANKS.

This new system of banking, fastened
upon the connlTy in the hoar of trial by the
old money hunks who fought Jackson in
his day, promises much now as then, but
are these promises based on nylhing more
secure aud less danger Gus than The Old u.
s. bank sy stem Ave think not.
The men who contend for a uniform
pape: currency for the whole county, are
rnen who have accumulated large estates
aud desire TO Perpeiuage the same in their
families, by putting the country under
bonds in shape of a heavy perps,ual
national debt, making il the basis OF bank
ing, and by That system associate The wealth
Of the country, so organized as TO over
shadow every Other interest and control
The government OF the country.
That class cites England as a precedent,
telling the people how large a debt she
owes, how stable and prosperous she is
under this heavy debt, but fail 10 tell the
people England has by and through this
system. a rauper list of over $50 600 of
graDdees, gentle folk, besides her active
aud useful thousands who also live upon
the producing and laboring class, while The
great mass of her subjects through this
money system have no more to say in the
government than the OK or horse upon the
manor of the lord of The soil.
We don't desire now, 10 discuss the mer-
lis ofthis new banking system, but Only to
throw ou. thought for the consideration OF
those more competent than ourseH to
handle this question, and elaborate an
argument that will expose the danger
growing out of the system to republican
Institutions, and the interest of the whole
people.
f is said Judge Chase, the author of this
system OF banking, Is already endeayoring
TO make advantage out Of his own bantling
for the purpose of reaching the Presidential
chair in 1868, but- he may possibly find
long before that day, his system cTuzsble TO
pieces, and himself an object of dire hale
and pubic scorn even more intense aud
violent than that visited upon Law OF a
Biddle.
IhSsc udllOHhi Oduks now UUmOeI over
one thousand, and il Is quite safe TO say
will double within a year. Our State or
local banks are all fast becoming national
banks, soou the people will have no other
money, men under these specious promises
will lose their accustomed caution, and as
initiation increases speculation will increase:
men viii sell aud buy, money contracts
will become due, Mr.. Jones will lifl his
deposits, say ten, twenty, CT perhaps fifty
thousand dollars al the First Naiioual Bank
of Funkslown, carry The same 10 Discount
vile 10 pay off hrs farm, bought from Mr.
Hunks The vendsr says 10 Mr.. Jones, Il
don't like this money, can't take H." "Bul, !"
says veDdee Mr.. Hunks those are natiOnaf
bills, all genuine and receivable by Ihe
United States government in payment OF
debts ard dues, except7-"No mailer. Mr
Jones, here is our contract, and am
Judge OF what money will take, aud as |
am not Obliged TO receive this SORT of
money, you had better just return 10 the
bank and exchange these bills for gold or
legal tender"
MIR. Jones :eluras 10 the First National
Bank OF Funkslown, after laying his no0ey
package upon the counter, says TO the
cashier, "Mr- Hunks won't rsceiye this