Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1874-10-09
IFrom lhs OlnoInnalI a,1sIle. |
uEsTIONS TO pE CONsIDERED.

pie to consider, from which we select
few as specimens of the whole:
The G1vernnent borrows money from fav.
ored few at Ave pBr cent. Interest, and loans Il |
again 10 the same men without interest This |
constitutes national banking. The Republicans
say II should, and the Democrats say II should
not. Which Is rightf
When the Government needs M )ney 1t
advertises the fact, fixes the rate of inter-
est, and sells its bon Is to the highest bid
der. During the war, when the d mo-
cratic party tried to destroy the credit Of
the GJvsrnm mt, interest was as high us
7 $40 on currency bonds aud per cent.
on gIl | bonds, but the war having been
put down, an1 the Dem )cratic lrty with
It's rebel appenlage AMI all its schemes of
reputation AMI infl ,tiOn kept out of
power, tits now replacing the per cent
gold bonds with bonds bearing 8 per
cent, and will s)on be able to negotiate
loans at 40 per cent. Under s C etaiy
Chase's administration the National bark
Ing system was orgIniz ID and put into
operation, Owners of binds orgin:z ID
banks, and upon depositing the honds as
security. circulating notes were issued to
che ex'eIt OF % pr mt. of the par value
Of the bonds. This secured the best c'r-
cllating medium the people of this coun-
try ever htd. 1t drove out the whole
brood of StIt, ba lks and substituted a
currency absolutely safe and of un form
value throughout the country. Tie
banks receive the sans interest on their
blnds tn 1t other people re i've aud that
would be p lil if there was NJ such thing
as a national bank. Tley receive on ev-
cry Sl00 of bonds deposited 800 in carren-
cy. OF this they can ssf,ly use SIS.
They thus get interest on SlGJ fJr every
500 of gold bOn1s they put up. but as an
offset they pay tax of one pr cent. on
circulation, and also tax on deposits ani
license tax. Daring the year 1873 the
national banks plil tlxos I'd the amount
OF $7,0ll,0 ,054 80 to the G1vernme ment, be-
Ing fra ;tion over tCo per eeni on their
entire circulation. In addition, national
banks are subject to State and munc'pal
taxes on their entire capital and surplus
without deduction on account of bonds
or greenb scks in tn ir possession, where
as private blnkers are not tax .d on boad :
or greenbacks. The eff c. of this il Illus.
trated by the following figures exhibit
ing the taxable re;urns of the national
and. private blnkers OF this city. The
capital Of the nation Il bankSi is 81 25i 934,
and they pay local taxes on 81 27l, 93l be-
ing $4,000 more than their entire capt..
al. The private bankers, on the other
hand, have a capital of 81 526 III, while
they pay tax on $l,5l3, 12j, b ing 81.
or, 1922 less than their capital The Gin
cinnati National banks thus pay taxes, al
together, unler United States and STAT
laws, OF over four AMI half per cent. on
their c,pital while private bankers D '
less than one and half per cent, being
difference of three per cent, against tn,
: national banks. The six per cent bond:
owned by the banks, ani deposited for
circulation, are worth In the mlrket lis
Thus they lock up $ll5, get 800, sixty
five of which they loan, and for that tn. Y
are subjected to stringent regulations. an,
three times as much tax as is levied O,
private banks. Now If national bankins
is such good thing why Is there not ;
rush tor il? There is an opening la Ohio
: and in the West ana South. There is
surplus OF currency not taken up of tn
original S354, 900 600 authorized, and be
sides 500, ,OO0, COO can b. Withdrawn from
the tst and oppOrtiened to the West an,
South whenever it is C tll1 for. Tier,
5 does not seem to be a demand for It.. IN,
fact is money can be more profitably use,
at this time in private BANKING than un
der the national act, and this couple,
] with the fact that there is no call for al
, Increase of currency prevents the Organi
: zltion of new banks, and the increase O
the capital of banks already in existence
These are the facts for the people TO con
slider.
Again the Enquirer says:
: There is less currency 10 the United State
in proper lion to the population than in an
other commercial country in the world TIL
= Gpverument and its Republican supporter
say there is enough foI the wants OF the pee
: pie.
t What evidence Is there that there l. no
currency enough in the country NJn
whatever. The currency of E1glan.
and Franc, is based on gold aud is co
vertabe on demand. Ours is based o.
credit, and Is not convertible at all. If
, were made convertible into coin, the vol
umi would diminish largely AMI tina
would show exactly how mu n currenc,
the country needs. With the lacrosse o
a fictitious or .inconverdble currency fic
tlciDu wants mere lSe in mucl greater
, prUpocti IN, and the Latter can never b
supplied by The former. Start on spe
cia basis, and the volum OF paper m III
will b. as large as the wants OF tn co H. tr
requ re, VIII, ther iJ be 500 or | O0O mi
lions. The law of trade wo lid ther
regulate il. Ii can not be regulated b
the arbitrary issues Of inconverlible pa
per III IN y. Every sensible man y no /
dong ,sinesS on IA sound basis know
there i currency enough, and knows
furthermore, that what, ver trouble exist
Is raceabl', not to "A scIrcty of currency
but to the diseases resulting from preVi
GUS ind Ltion.
Next We come to this proposition:
The @ G'vernnent m tintti1s high protec
tive tariff pDIicy. The Rspub'ica us say il
should rne D I'm 1crss say it should mt.
The Republicans favor a revenue tarif
with incidental prot, ctiOn. The Demo
frats favor "A tariff tor revenue only
This Is the diitert nee, and iJ Is Verl
wide difference. taritf tor revenll onl
would be levied on few articles no. pro
duced in this country Tnis is what tn
DimOcra : favor. WAT would the irot
furnaces of Ohio be W rth if thr tariff o
iron should d. abolished Not ten cent
on the dollar. Besides there l. NJ natiDI
that does not give To her own people tn,
benefit of the duties levied on imports
There Is no such thing IS absOufc frr
trade yet that is what the Ohio Demo
Gratis favor. They would abolish the du
ties on what we produce in competition
with EUROPEAN labor, and put them OIL
what we must have ald do not produce
We might follow in review the Who'll,
list of "questiOns presented by tn
Enquirer, but the rest are even more uu
sound than those we have notice |, and |
would he a waste OF tim to expose ialla
ci s that carry with them their own rel
utatiOn.
Suffice to saw, that the ID .mOcrati