The south-western. [volume] (Shreveport, La.) 1852-1870, 1868-10-14
Why the Kew England States are the Hot

o. all the cOntrlyanceS to give one section OF the coul-
try advantage the other the National Bank sys
tenn the cunnngly devised and The most effective.
You know that this system created by act OF Con-
gress and to make way for it, Congress taxed the
State banks Of existence. Under the State bank
system each State regulated for itself the OF
bank notes its banks should issue, regulating the
amount by the wants of its people. By the Ma
tional bank system the Federal Government furnishes
the notes to the banks organised under it, giving to
each bank ninety dollars in notes for every hun
drcd dollars of Government bonds it deposits with the
Treasurer Of the United States. The consequence is
that the section OF the country that holds the most
bonds have the most banks and consequently the
most money.
But as have shown, the Eastern States hold far
the greater number of the bonds and what the
sequence? will state it from this official report Of
the Comptroller of the Currency, that Ihold ia my
hand transmitted by the Secretary of the Treasury
Congress at the opening OF its session last winter. In
this report is table, with the caption: The follow
ing table will exhibit the number of banks, with the
amount Of capital and circulation in each State and
Territory" From this table it appears that the six
New England States have an actual circulation of
Sl04 800 629.
The six great Northwestern States-Ohio, Indiana,
Illinois, Michigan, Wisconsin and Iowa-have an ac-
tual circulation of S4S SD, 1885.
The six great cotton tobacco and rice growing States
of the South--North and South Carolina, Georgia,
Alabasla Mississippi and Arkansas-have and actual
circulation of two million two hundred and tfty-six
thousand one hundred AID twenty-five dollars s2 256,
1859
The population of the six New England States, by
the census Of 1860 3l35, 2S3. OF the six North
western States 60l 1923. Of the six Southern States
944572.
These eighteen States Increase in population in very
different ratios, the Increase in the West aud South
being much greater than in New England. Making a
proper allowance for the increase since 1860, their
present population is, in round numbers follows
The six New England States 500 900; the six North
States 900 UUn and the six Southern States
5,50o,oO0. Total l9,0D0,0oD. From this it appears
that the National bank circulation in the six New Eng
land States is at the of S29 50 for each man,
woman and child; in the six Northwestern States,
| 81 So and in the Southern States il cents.
So the effect OF the National bank system is to give
to the six New England States over six times as much
money per head r. it gives to the six Northwestern
States, and. over seventy two times much it gives
to the six great Southern States Or if you take the
number Of voters the basis of c0mparison you find
that gives each New England voter S 50 to each
N0rthw esttrn voter about $50 and to each Southern
voter less than s. 80. When you had your bank
system YOU regulated the amount Of your bank crcu-
alton yourselves, according to your necessities
but now, If YOU need more money than You have you
must borrow Of New England aud all the interest you
pay leaves the State, and is another drain in addition
TO those have before men'oncd.
NOBLE SEAIiNENTS.-lhe IDltO"lTg sentiments, re
Gently uttered by Cen D. II. Hill, we feel confident,
receive the honest and hearty commentator Of our
citizens
Now is the anspcious time TO begin in our desolae
but still beautiful South, to false notions about
the scrvle nature of work. Those with us who have
need to work with their own hands belong gener-
ally to that class who shrank from the hardshps of the
march, aud the dangers of the battlefield Their pur-
pie and fine linen tell of speculation and extoror the
widows tears, the orphans wall and the dead soldiers
blood Away with them Poverty is now the true
badge Of nobility 1t speaks eoquently Of heroism,
patriotism, oblivousness of self and selfish interest,"
generous sacrifice of yng upon the altar of
try. No bazoned coat OF arms ever so plainly pro-
claimed honorable blood, does that old faded uni
form. Take heed 0 Vt heroes of many hard won
field, lest y0n bring stain upon your bright escuch-
con. There is a cowarlice which srnlls from duty
Well cowartlice which Ahrinks from danger.
It's just unmany to fear the worlds dread laugh "
it is TO fear the shot and she'll of enemys battery
1t is just lgnobe'o neglect the obligations at home
to evade the service owing to the country You
have been true to the land OF your BIRTH be true to
those who are bone OF your bone and flesh of your flesh
Your mothers wives and hearts, have busbed
for your OF manhood in the field let them not
blush for your eifeinacy and slothuness at the fire
side. But we believe in the enduring manhood Of the
Southern soldier. We believe that he will meet toll
and poverty in the noble spirit with which he
has privation and peril H. no weak settling to
be crushed by harGships and be down by trou-
bic. The lion in the path of the timd and rreSonte
is but contemplate to him. We have seen one
born aluence, and who had acquitted himself well
in the field, reduced the necessity of driving w1g-
To our eyes he would not have appeared noble
had he been seated in royal equipage. We have
seen another OF the boys III graya real hero in the
understanding as porter great bales and boxes,
We esteem him more highly with these burdens Oh his
shoulders than would another followed by retinue
OF servants carrying bags of gold