The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1875-08-12
RANDOM THOUGHTS.
BY THE EDITOR.

four or five numbers of the Standard, l
propose to discuss the financial question,
and want my Democratic readers es-
intend to prove by Democratic authority
NOT that such evidence is entitled to
more weight than any other, but upon
the principle well known in the law of
evidence, that admissions made by
party against himself, are almost abso-
lutely certain to be true, as no one is
presumed to tell lie when it would op-
crate against himself
Don't you want plenty of money, and
better times" says my Democratic friend.
Certainly. But your party does not
Look at the eleventh plank of your par
ty platform:
IL. The extinction of the present Ma
tional Banks, and the establishment in
their stead of system of free banks of
discount and deposit only under such
regulations as the States may respective
ly prescribe. And no paper currency
except such as may be issued directly by
and upon the faith of the General Gov
ernment.
If your party thinks that more money,
or currency, is needed, why does it de-
mand the extinction of the National
Banks? All admit that the currency
furnished by the National Banks is as
good as they want. 1t is absolutely safe.
When the panic of 1873 came, not a dol
lar of the currency of the First National
Bank of Jackson.was presented. 1t was
laid by as perfectly safe. But it was
your depositor VINO came in and demand
ed the currency of the bank. that he
might lay it away in his drawer. And
yet your party demands that we have
only banks of deposit, regulated by the
States, system ten times worse the old
wildcat, red-back system when The party
had the power, prior to the year 1861
What objection have you to National
Banks? Here it is The Nelsonville
Miner says:
Why should we continue to pay the
National Bankers twenty millions pei
annum to give US rag money when we
can print it ourselves for nothing2
anu GAS SulIlICO6u0 AuV0TGlS6f says.
The differnce between National Bank
currency and greenbacks is, that one
costs the people one hundred millions
annually, and the other costs them moth.
ing. All the bankers and bondholders
are in favor of those which cost the peo
pie millions annually, that they put in
their pockets, for which they give nc
equivalent.
And in the same paper:
How do our farmer friends, who have
to pay all the taxes, like to pay millions
annually for the sake of keeping up 6
pampered aristocracy, men who by this
means, Ia taxation onerous and for which
they give no equivalent whatever,) pock
ct between seventy-five and one hundred
millions annually of the peoples money
for the privilege of carrying on bank
ing business that plenty are ready and
willing to do, like the Farmers and Mer
chants of this city, upon greenbacks
which bear no interest? We do not think
any of them outside of the National
Banks and bondholders' ring are in favor
of this robbery of themselves:
Now listen, while 1 prove that every
word in the above is malicious lie. The
best way to teach is by object lessons, AND
1 propose to take the case of the First
National Bank of jackson, as all the Ma
tional Banks are organized upon the
same plan. The President of this bank
is Horace L. Chapman, prominent Dem
ocratic politician, and its Cashier is Da
vid Armstrong, late leading Democrat
ic politician of Pike county, and fol
many years Democratic Auditor of Pike
county. l appeal to these bank officer,
for the truth of what is to follow.
A man said to me the other day, tha
the people were paying to this bank si1
thousand dollars every year. This is no
true in amount. 1t is five thousand dol
lars. Your demagogues will hold ou
the idea that when bank is organized
the Government issues new bonds for it
This is not the case. When our banl
concluded to go into business, it was re
quired to deposit bonds to the amour
of one hundred thousand dollars, to Sc
cure its issue of ninety thousand dollars
1t simply went to the Eastern bankers
and bought the bonds These bonds
had already been issued by the Govern
ment, and was part of the war debt. The
Government was already paying five pei
cent, in gold upon these bonds, anG
would have had to do so whether they
were held in Wall street,o or by our neigh
bors in jackson. The Government would
have had to pay exactly the same inter
est if the First National Bank of Jack
son had never been thought of. Is moi
this so, Mr.. Chapman? Is not this so
Mr.. Armstrong?
Very well then. Instead of the Gov
ernment paying five thousand dollars in
gold to the Wall street bankers, it now
pays it to the citizens of Jackson county
Look at the card of the bank on the first
page of the Standard, and you will see
who these "bloated bondholders' are.