Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1869-08-28
For the Register
An Independent System of Banking.

Nh. EDIroR:-The present state OF our
country calls Tor an independent system
of Banks. What mean by an indePen-
dent system, Is, the right for all banks 10
hold their own deposits in specie, and to
issue upon one universal ratio, Whether OF
large or small banks, and in no case what
ever. for The bill holder to have the pow =
er Of drawing the specie from the vaults.
This would keep all the coin Of the coun-
try al home, while the people would en-
JOY the circulating paper currency. What
the ratio should be is another question,
but let the present condition Of the coun.
Try answer that question. 1t is The OPln-
ion Of The writer that $50 to should be
issued, as permanent ratio. Two bill
lions OF dollars then should be issued by
the general government 10 the people,
with Sl00.000000 If its vaults and dis
counted TO them al per cent. per annum.
Let the government discount the interest
on the national debt, and let the people
have the money 10 use and circulate.
People who need 10 hire money can afford
TO pay per cent, and the general govern.
ment can afford to constitute true and in
dependent system of national banking.
Let every State have lis proportion, North
and South. This system Of discount
must be equivalent 10 gold discount for
the banks, instead Of paying out greater
dividends. In this way the revenues Of
the country would augment The national
banking system, just in proportion as the
deposits OF gold increased. For example,
suppose in one year the national deposits
increased $lO,OOO,OO0 only, then 200,-
100000 more could be discounted 10 the
people. This is the direct and proper
course 10 pay the national debt, and 10 re-
vive the lsnguishing condition of the
country. All banks organized under this
system would issue upon the same ratio
as State banks, snd have their portion Of
the United States deposits in their own
vaults, as branch banks. The poor and
middIing interest people OF our country
should have their own banks OF discount
guaranteed by the general government,
with their proportion Of general deposits.
The lsborng men of our country need a
bank Of dlscountin every county, so as
TO obtain small amounts for their purchas-
es TO be paid in cash These men would
pay the same interest TO the general gov
eminent as The opuIenl and the rich, and
why should the necessary protection be
denied to them? In this system too, a
dollar Of gold should be worth no more in
circulation than dollar in paper, because
liz 90 fold power Is only 10 be used BY
the national government TO pay the ma
,ional debt, and this too from the discount
only. A. COTTRELL.
&g5 An exchange aptly and uulhIuly
says Of local papers, that they enhance
the value Of property. They benefit par
lcuIarly merchants and real estate owners
thrice the amount yearly they pay for
their support. There is nothing that
would DO place more harm than to be
without newspaper. This every sensl-
bic man knows. local paper, then, il
a necessity. j is a sacred duty 10 sup.
port it we'll You need not think that the
publisher Of a paper can run it for your
benefit and pay expenses out Of his own
pocket. Give your home paper good ad
veriising patronage, and q respectable list,
and you will then have just such paper
as you wish.
DIP ANY OF THEM GET AWAY "A
good story is told Of late weIl.kDown
New York politician and railroad mana
ger. During his absence from home his
good wife gave birth 10 twins. He was
autographed Of her confinement, no par
Iiculars being given. and Immediately
FASTENED home. Knowing when be
might be expected, the nurse borrowed
third baby Of neighboFIng lady and
placed all three in a cradle together
When The husband arrived and gazed
complacenLy upon the youngsters in the
cradle he asked, did any Of them get
awayi
Jacob Scnerer OF Stanton, Va, was