The Daily empire. (Dayton, Ohio) 1865-1867, 1867-02-11
our National bank Heavy welghts.

Our National Bank Heavy weights.
A few days since the Columbus Journal,
In lucid moment Of political virtue, made
the remark that 'there is no other country
than ours In the civilized world, where the
Government would be guilty OF the absurd
ity of paying corporation a bonus Of
something like nineteen million, eight
hundred thousand dollars per annum in
gold for undertaking the pleasing duty of
furnishing the public with notes, payable
at no particular time, without interest, TO
be and circulate as money. Yet the
Governments of the United. States like a
good and patient old donkey, carries this
load with only occasional groans; pays the
National banks interest to the amount of
from five to six per cent. per annum in
gold on its own notes, while it allows them
the privilege Of circulating their notes as
money, free of interest-guarantee In
addition 10 this, that they shall not be re-
quired to pay any tax upon capital In
vested In Government obligations, for
which they receive interest"
We made brief note of this Radical in
fidelity, at the time. thinking, possibly 1t
might be a count in the indictment Of the
Journals loyalty" terminating in its con-
viction and execution-fr0m che party.
Strange as it may seem, however, there
has, as yet, been no procedure of the kind
instituted. The Journal, too, went abroad
for evidence to convict one Black Repub-
lican statesman of high crime against the
substantial monetary interests of our peo-
pie; saying that the Bank Of England, on
its issue of ElLO0O,OO0, is required to pay
to the Government bonus of ElS0,OOO an
nually; upon its issue in excess OF that
amount it pays to the entire net profit. 1t
is exempted, only, from stamp duties on
its demand notes; and adds, that the En-
glish Government receives bonus of Ia
per cent. per annum from the Bank of En-
gland upon its circulation-the Bank pay
ing the money to the Government tor the
privileges of issuing notes payable in
gold on demand. The Government of the
United States, on the other hand, PAYS the
National Banks bonus of not less than
five per cent per annum in gold on every
dollar of their circulation, for exercising
the privilege of issuing notes payable in
other notes, on demand
The actual investment made by the Banks
i'm government bonds, for the security of
their circulation, is only ten per cent. OF the
amount upon which they draw interest
from the Government. That is TO say, for
every million dollars in U. S. securities de-
posted by Banks, they receive back $780,
900 in "lawftil money" (their own notes,
which they use in their business the same
as any other money! while the Govern
ment pays high interest on the total amount
of the securities, one million dollars. Thus
the Banks, having dlsbursed but $l0,000,-
OOO, draw interest upon 100000 in govern
ment bonds.
This is certainly very sensible talk for
the central organ of Ohio Radicalism,
tEWe noticed the other day an article
in the Journal, of this city, professedly ed
itorial, commenting somewhat severely
upon the Day Book, because of the assertion
by the latter that q few years ago the
masses Of the people egged and otherwise
maltreated Abolition lecturers, and were
only restrained from committing further
assaults by the intelligent class of the COM
munity; and as weconned it over, we could
not help thinking that the Journal was
making wrong application in its unjust
censure. What the Day Book said is true,
Abolition lecturers were mobbed and
egged, but who were the men committing
those deeds of violence? win the Journal
ask the members of its own party-its own
immediate supporters in this city? If
it will do so, and a truthful answer is given,
it will be discovered that in nine cases out
of ten, they will be found iT the ranks OF
the Abolition Radical party, and among
that class who were the loudest and most
blatant in their cries for similar, and worse
treatment of Democrats, who then, as now,
oppose mob violence and i'll treatment OF
persons because of their opinions, social,
religious or political. Let the Journal be
wise henceforth, and heed the admonition
once given: "Let him who is without sin
east the rst stOnav