The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1867-10-31

econd With the funds OF his bonk, u
is difficult 20 see what remedy there
'c,uid be under any system. Bat un.
DIR the national system the security
agsinst accidents ofevcry kind Is as
nearly perfect as practicable, aud is a
vast improvement over the old plan
For under tho present system tho
bill holders are completely aud Away.
saturcd against every possible acci'
uent, while dcpositors have far great
e. security than under any former
system. Nine tcnths Of the people
sre directly interested only in the Sc.
curi,y Of the circulating notes Of tho
hunks, for these are in every man
pocket, and they cannot be affected
IN value by ary thing the banks may
d.. the Government being pledged to
their redemption Ii is also instruc
tive TO note the very small number oI
failures since tho change from tn,
o. system to the new-only nine out
vt nearly seventeen hundred having
failed in four years.
" sUpERIoRlTY or THE NATIONAL
BANKING system.
The superiority Of the National
over the Slate Bank System has been
quite fully discussed in my answers to
previous questions, aud | can only
i'capitulate here, The State system
Involves this grave error that it gives
jiiriy-six mutually independent pow
,rs control over a vital public inter.
1T which is indiyisable aud strictly
National in its character fthe cur
rency Of one State never circulated in
ruothor, but we're always confined
within its own State limits. then u
It1io system might be the proper oncj
lat these State Bank notes (in the
r,ent of the re-esiablishment of the
STATE Bank systom.) whether good or
bed, would become part Of the
Nations currency and the people Of
I'll The States would be equally inter.
ts,ci to have them well secured,
which would be entirely impractica-
he A subject which thus interests
oh the people OF the country equally,
aud which in its working pays no at =
lention to State lines, should surely
be under National control, IN order
that there may be unity of purpose.
and iu order that all the people may
shpre in determining through their
central Government the character Of
tie currency they must use.
Under the State system there is no
check upon undue expansion or con
traction, and thus a degree Of uncer
tninty is constantly given TO the
financial future. Under the National
plan the volume Of the currency Is
determined by Congress, aud is only
increased or diminished as tho needs
OF the people aud the business of the
country require That stability aud
comparative certsinty are secured,
aud public confidence maintaiu,d.
Under the State System the currency
question places a constant temptation
to corruption before thirty six dif.
lrent legislative bodies; under the
National system tho corrupting power
Of the bauks, If they have any at all,
IS confined to a single National Leg
i,aturo; and as the present law is
framed, ard with the gaze of nation
concentrated upon Congress. cor.
ruptiou regarding tho currency il
next to impossible even thore. Under
tho State system the currency is uu.
like in appearance, unequal, and so
insecure as to bring constant aud
heavy loss upon bill holders, who are
omphatically the people. Under the
National system the currency is uni
form in appearance, has tho same
value in all parts Of the lard, aud i.
81 perfectly secured that bin holders
DO notand cannot lose any thing
As to the superiority ofthc present
system over the United States Bank
htllo need be said, as few, ifauy, ad
vocate a return TO the latter. But
the national system possesses all the
advantages, with few, il any, of the
Objectionable features, OF the old
United States Bank. ludccd, the
National system is a golden mean be
tween the State system and the
United States Bank, combining tho
excollences of both. 1t combines tho
unity of action aud general control,
aud the uniformity of currency
which were the best features of the
United States Bank-with the diff.
fusion OF issue and freedom in local
management which characterized the
State system. Considering the pre-
sent exteut of our country, aud the
present aud prospective magnitude of
its business interests, | rogaid the
establishment and maintenance of IL
nitcd States Bank as next to u
financial impossibility, Besides, it is
not tho province Of any government
to be the banker of the people. The
people can do their own banking best;
hut Goyernment should so far utter.
icre as 10 systematize, control, aud
regulate the banking institutions of
the country, aud secure to all the
people safe and uniform currency
This is all that our government does
through the National Banking Act
aud all that it proposes to do.
The National Banks are totally
non on-politieal in their organization
aud tendencies. NV observation has
been that men Of all political pqrties
are found among bank officers, direc
tors aud stock holders in about the
same proportion as they are found ~
any branch Of enterprise or industry.
This one fact renders It simply impos.
siblc for any political or party move.
ment to be organized in, through oY
by tho National Banks.
VI. WHY SHOULD THE NATIONAL BANK
ina system BE pERpErUATED2
Ny answer to this question may be
inferred from all that goes before bul
further reasons will suggest thom
selves to all who are witnesses of th,
Ir,,.Ga atal ......tt. - ....I II -. i