The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-11
NEW YORK HERALD FRIDAY SEPTEMBER H. lss-TRIPLE

pears that the six Ny England States have an
actual circulation OF SlA, sOO, 629.
The six great Northwestern States-0ho, Indiana,
Illinois, Michigan, Wisconsin and lowa-have an ac-
tua circulation of SIS, 1886.
The six great cotton tobacco and rice states OF
the S0uth-NOrth Carona, South Carolina, Georgia,
Alabama Mississippi and Arkansas-haye an actual
circulation OF 81, 256, 125i
The population OF the six New England states, by
the census OF $780, was 1856 2s3 of the SIX North
western States, 1901 S23 OF the six Southern States
4,944, 572.
These eighteen States increase in population in
very different ratios the increase In the West and
South being much greaer than in New England.
Making a proper allownce for the increase since
1860, their present population is, In round numbers,
about as f0llOws:-
The six New England STATES. ............. 3,5000O0
The six Northwestern SITES .lO,OODOOJ
The six Southern States. .............. 5,5O0OOO
Total is, 600 600
From this appears tllt the national bank c,rcu-
laton in the six New England States Is at the rate OF
SO so for each man, wolan and child in the six
northwestern States 81 ST. III the six Southern States
l0rty-One cents.
So the effect OF the natpnal bank system is to give
70 the six New England States over six time as
much money per head asst gives 70 the six Nor h
western States, and overseventv-two times as much
as IL gives to the six great southern states. or,
you take the number OF pters as the basis OF COM
paflson you Will find thatit gives to each New Eng
land voter about $3.50, To each Northwestern voter
about $40 and to each Southern voter less than
When you had your own bank system you regu-
lated the amount OF y,ur bank circulation your
serves, according 10 yourDwn necessities; nut now
II you need more mong than you have you must
borrow OF New England, Ind all the interest you pay
leaves the state and Is another drain in addition TO
10 those have before mentioned. Now put 1t TO
any man, "Should this Inequality eXistT' You cam
not get even with New England by starting new ma
tonal banks for the acts OF Congress limit the aggre-
gate amount OF their CIRCULATION, and that limit has
been already reached. hut the way to redress this
wrong is plain. Compel the banks to withdraw their
circulation and supply It's place with greenbacks.
There will then be the same amount OF money in
the country as now but you will have your fair
share OF it, As matters now stand you have no
such chance And why should not this be doneS
The bank notes are no bdter than greenbacks FOR
they are redeemabe in greenbacks. # you pre-
sent one OF them to the bank for redemption the
bank pays you not gold Ior silver, but greenbacks,
and the law compels you to take them. Then why
not have the greenbacks al once instead OF the bank
notes, and thus put an eld to the monstr0us mo-
nOpOly that the Eastern Suites, and especially New
England States, enjoy under the national bank sys-
tenn No man can give a good reason why this
should not be done, and we're the bonds deposited
by the banks to thar circulation paid or in
greenbacks as they ought to be, you would save by
that operation eighteen or twenty millions interest
that you now pay every year upon these bonds.
And the banks being compelled to withdraw their
circulation its place could be supplied with green
backs, and thus an end he put TO this outrageous
inequality introduced by tbs Lational bank system.
And, finally, II You then heeded State banks you
could have them and regulate their circulation &C.
c0rding to your wants.