The Cecil Whig., 1873-06-07
SCOTCH BANKS.

Mr.. Willoughby Newton, Westmore-
land county, Virginia farmer, in one of his
able papers to the american Farmer, on
currency, has the following on the banking
system of Scotland.
Look at Scotland! When her banking
system was instituted she was the poorest
country in Europe. Her commerce, and all
her industrial enterprises, especially her
agriculture, were in the lowest state of
depression. The shrewd and sagacious
Scotchmen invented new principle. to
meet the peculiar wants of the people, and
particularly the farmers. The banks were
authorized, like other banks Of issue and
discount, to negotiate bills of exchange
and promissory notes, but were expected
to lend considerable part of their capital
to farmers on "book accounts They
agreed with the farmers to give them Il
standing credit on their books for such
sum as would probably meet all the re-
quirements Of the farmer for wages and
other necessary expenses during the year.
This was secured by bond or mortgage
The farmer was charged with interest only
on such sums as he actually drew, and that
from the day Of payment of the check, and
the farmer was credited with all payments
actually made. This arrangement made
the farmer perfectly easy. He had no
dread Of protests, and even without a dol
lar in his pocket had always an abundance
of money, paying no interest, at his order,
to meet his demands. A more beneficial
system than this can scarcely be conceived
of. The effect of it in Scotland was to lift
the people from state of despair to the
highest hope, and industry, in all its
branches, revived at once. The same sys-
TEN still continues. Her banks are per-
fectly safe, when the country banks in Eng
land were breaking by scerces, those re-
manned irm-and whatever might be the
revulsions IN trade, and though bank notes
might occasionally find their way from
home, yet the "book accounts" could not
60, and the farmer slept soundly and car
ried on his business securely. This is pre-
cisely what we want in Maryland and Vir-
ginia, and indeed throughout all the pro-
ducing States, South and West Have we
not sense enough to establish such sys-
tenn? Upquestionably We have, and we
may readily establish it if the people, with
out distinction of party, will 60 to the polls
and with enc voice command their repre-
sentatives in Congress to repeal the law
which abolished State banks, 6y the taxing
poacer.
WORKING WoMEN.-Mr. c. C. Fulton,
editor of the american in one Of his letters
from Berlin, thus describes the German
women:
"German women are undoubtly able to
do a mans work, and some of them do
more in that line than most men are will
ling to. The very hardest species of
manual labor is spading ground and turn
ing over the sod. In the Park to-day We
passed nearly fifty women, all strong and
muscular, busily driving their spades into
the earth. They worked in gangs of five,
side by side, apparently as contented as if
they we're piercing cambria handkerchief
with needle. When women can perform
this kind of labor they are certainly on an
equality with man in some things if not in
all, and need no protectors. Only think Of
marrying a woman who can dig all day
with spade! 1t would not do for most of
the lords of creation to have such wives
or at least to provoke them to trial of
strength.