The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-01-21

merchants and bankers. How much
is land worth in this vicinIty2 I as
sumo 1t to be worth fifty dollars an
acre. 100000 would buy 1000 acres.
Now, will guarantee that 1000 acres
are not required to pay to exceed 5000
than that, let any gentleman correct
ME, for have no desire to deceive any
one.
TAX ON RANK STOCK.
Now take 500, 600 in one of the Ma
tional Banks, and what amount OF tax
es do you suppose it is required to pay3
| am told a gentleman has been here
recently who said bank stock did not
pay any tax at all, and bears no pro-
portion of the burdens of the country.
But II you will look at the books OF the
Assessors and Collectors-I don't ask
you TO take my word for it-you will
find that Sl00,000 invested in one of
these National Banks. are compelled
to pay to the State and General Gov.
ernment at least $4,000 n year-$4, 900
more than are paid on the same eamount
| liRVested in real estate. The Control
Ter of the Currency reports that the
total tax on the stock of the National
Banks will amount to from four to sew
en- per cent. The bank stock is enter
ed upon the tax duplicate just as other
property is; and iL pays taxes to the
State, for school purposes, for road
purposes, and for all purposes. And
In addition to this, these banks are re.
quired to pay from two to two and a
half per cent. to the General Goyeyn.
ment, making four to four and a half
per cent. on their capital stock. sgf
But gentlemen say these banks have
special privileges; they draw SIS, ,OOO. .OOO
or Is, ,OOO, 600 from the Government, be.
Ing the interest on the bonds deposited
to secure their circulation. That is
4
banks, In the way OF Interest, Sl9, 500, 900.
But what do the banks pay the Govern
| ment? The banks lend the Govern
mrnt $3.50, ,OOO, 600 without interest, IL be-
Ing the amount of the legal-tender re-
serve. This at six per cent, is worth
10th. to the C Goyernment SS $4,000, 900: They
making.a total Of S25, ,O00, 900. Deduct
from that the interest-$19, 500, ,OOO-and
you have S5,5O0,OOO, which the banks
pay annually for the privilege of cIrcu-
lating their notes.
This is, 1 think, fair and candid
statement of this bank question; and I
would not have entered upon it but for
the fact that L know, in every school
district, and wherever they can find a
man to stop and listen to them, our
Democratic friends are declaring that
these banks are not taxed, that they
are monopolies.
l
tional banking system. 1t is creature
of the war, 1t was created to enable
the Government to obtain means TO
carry on the war. They answered the
purpose for what they were created.
They did obtain the means necessary
TO carry on the 3war. They stood be.
tween the Government and the people,
When the Government wanted money,
1t sent It's bonds to these National
Banks. And you loyal farmers went
in and bought your bonds of these Ma
tional Banks, the agents of the Govern
ment. -.
10TH CANDIDATES bankers.
am not interested In them specially.
While | was in the army my brother
put little means in bank stock-a
small amount of money, because /
never had a large amount, and never
expect to have.
Colonel Burns and I both owned
stock in these banks-he in the First
National Bank of Mansfield, and in
the First National Bank OF Cardington,
He sold his stock for the same reason.
probably, that sold mine-it was moi
profitable; and my opinion is, if the
Government don't close up these coun-
Try banks soon, the owners will do it.
on cann0t lind country bank-at
least don't know of u country bank
that pays anything us we'll as farm
property, stock raising, or any other
business. know there are some banks
in the cities, with Il comparatively
small capital, and immense deposits,
that make money-ten, fifteen, or
twenty per cent. But they don't make
1t OF the Government; they don't take
all their circulatIons, caring very little
about that. They make 1t Off their de-
positOrs. The sooner these country
banks are closed up the better it will be
for their owners. ! Money in hand
mnnaU inUn1tn6 In
disc, manufactures, in promissory
notes, as you may see If you examine
the records, pay double the tax that
money does invested in real estate. It
is said that "A. II. Stewards tax exceeds
three hundred thousand dollars, while
Commodore Vanderbilt's is little less
than million. The one is the mer-
chant, prince, the other the railroad
king of New York.
II Is absolutely true, as you will find.
upon careful examination, thatN our
party has, in the distribution of these
burdens, manifested a determination to
be generous to the poor, even at the
hazard of being thought unjust to the
rich.
THE GREENBACK QUESTION.
Not satisfied with the attempt to de-
stroy the Onion, load us with debt, bur-
den us with taxation, the Democratic
party seeks TO PROSTATE the entire COM
nercial interests OF the country, and
involve US in hopeless bankruptcy, by
manufacturing fifteen or twenty hum
dred millions of paper currency TO
pay of'it National debt. "Money
good enough for the farmer, the labor
er, the mechanic, is good enough for
the bondholder." This is the Demo-
cratic cry; and it is .undeniably true.
and am decidedly and unreservetlly
in favor of paying off the fiye-twenty
bonds in just such currency as may bs
legal tender, and in general circulH-
tton among the people when they ma
ture, providing, of course, that the
Government may use the option ex-
pressed in the bond, and make the paw
ment gradually, and thus not initiate
the currency to such an extent as to
render 1t worthless as a measure value.
As have been misrepresented on this
point, reiterate, that money good
enough for the farmer, the mechanic,
the soldier; or the Iaborer, is good
enough for the bondholder or any
body else. You have been told that I
am In favor of paying of the FIVE
twenty bonds in gold. 1t is false, and
l don't want anybody to go away from
here to- might and repeat the story. nd
he does, he Will deceive somebody II
anybody believes. him.
TWhy this is Democratic doctrine -
Not at all; this is the doctrine of com
mon sense, common honesty; and 1
defy you to find \ modern Democratic
politician who advocates either honesty
or good sense. They make no provision
for the gradual payment OF this debt.
They say, in their Sth of January reso.
lutions, that ''they are opposed to ex-
tending the time of payment" They
propose to throw away the option sti1.