The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-09-04
[From Indianapolis Journai.I
National Banks. -
To The Editors Of the Journal !,

To the Editors of the Journals .,,it ~rao-r
Your correspondent "A y is evil
IDENTIFY not a lrepudiator, but a. we'll
meaning. man, and | would be glad, to
make what / conceive 10 be, "a fair
statement !, of facts and figures for his
consideration He speaks of the Ma
tional Banks. receiving from the Gov
eminent an annual gratuityn' of
twenty millions. of dollars, By this
he must mean that the banks draw
interest on the bonds deposited with
the Treasury Department as security
reflected that if the banks are wound
up those bonds, still belong to the
persons who are stockholders, and
that they win drag, the same in
terest then O that they do now?
Has he ever reflected that the bonds
would then be exempt from taxation,
whereas now, in the: shape of national
bank stock, they are subject to the
highest rates of National, State and
county taxation? He certainly, was
lAot aware IF the fact that the official
report shows that these banks now
yield "a revenue to the. government
a'tnounting annuafly to over three per
ht4upon' their entire capital. The
elosing of the National Banks would
therefore, unaer this head alone, be
an ANNUAL loss to the g6vernmfehnlits of
about ten million dollars, aud if q a =
Will inquire of those familiar with the
Subject 5he will find it would scarcely
be possible to carry Oh the operations
Of the Treasury Depar tment, and the
present extended system of finance
and revenue, without the aid Of the
National Banks, for all Of which work
the banks nj get get no 9 ffompShsaatfiop What
II do not stop to notice the 9reepuudill
atof's plan of iortipg bondhofders. to
surrender their bonds contrary to the
plain and express provisions Of the
law and the pledged faith Of the na5
ton, for that is simply rob berry, which
no honest man can approve. Again,
has "A lever reflected the effect the
winding up of national banks would
have upon the business of the coun-
try and upon the people? Let him
examine the official reports and he
will find the people owe the banks an
amount very nearly equal their whole
capital. Let me bring it to his own
door. There are FIVE national banks
in indianapolis with a paid in capital
amounting in the aggregate TO one mill
ion eight hundred thousand dollars.
On the 1st of last month each of the
banks made statement under oath
of'their. then condition. These state
nents show that the aggregate of their
notes and bills discounted was one
n1fflfou five hundred and ninety six
thousand six hundred and forty Ave
&c, = In other words, the People
if;eze heen accommodated with over
llii9,on- and half of dollars and this
j being used daily Tn carrying on
bas ness and building up the BROS
peTny 81 the city and vicinity; but it
iE4tfn none the less due to TIE Banks.
Now, what is the inevitable resuTt3
Tit vettp moment you Beqin % fSfe{,e ~
t7sgse bal KS to ctase up, fhey are neeesi},-
,T2y forced to follecl atjtIt IS die hen. p
aid The btosoi at last fatts up go III }eol 1
pIt. ~ Let any nthinkingg man TefIeect 3
What @ouid be the effect on he BROS.
petty 1 ana bdsiRfgs5 Of #,
nid1iw aafg1c S9tInJ sd1 20 sRrl us
svi3uosxI 3dt .yfoiiIfe't 70 oiAic ysA
or bus boGiaodtGc al sses 1a61 II