The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1878-08-31
GREENBACKERS, READ!
The EnOrmity of the National
Banking System Demonstrated.

To make it easy of comprehension
let us take one single bank.
Suppose then, that single Nation
al Bank has a capital in U. s. Bonds
of 100000 and that such Bonds were
purchased with greenbacks, worth
sixty-fve cents on the dollar, thus
$4,000 are inverted.
Now a gold interest of per cent,
on this 100000 of bonds, is $4,000.
This equals 10 per cent in gold, on
the actual investment or cost of the
bonds.
Now 6 per cent in gold worth about
IL per cent incurrency. Thus ii
per cent on 100000 is $1,000, or
about 20 per cent on the actual invest
ment, or cost of bonds.
Now this bank got from the Gov
eminent, 100000 in National Bank
notes, to bank upon. This the bank
loaned, at say 8 per cent, currency:
making $4,000.
Now suppose the deposits Of this
bank to equal its capital ($lO0,000.)
The comptroller says one third more.
This deposit, the bank was author
lied to bank upon, and loan. This
at s per cent makes $4,000. Then
$11 900 plus 1920 plus $1,000 equals
500, 200, or about two-fifths of the en-
tire actual cost Of the bonds, or CAPT
tai of the bank.
Now suppose this bank to have
been in existence for fourteen years,
you will see that said annual interest
of 5000 multiplied by IA, equals
SAG, 800 or more than six times what
the bank paid out for its 100000 of
bonds.
Now these bonds are worth in gold
$4,000 or $50 more on the 800
than they cost, which equals $4,000
This added to the $4I6,S00 make
$466, 800, or over seven times the sum
actually invested by said bank in
capital.
And let it be remembered, that this
bank is not here charged with its
large profits in buying and selling
exchange, nor in the buying or sell
ing of Government Bonds.
Then, let it also, be remem-
bered, that this bank is but one
of over two thousand, and of much
less, than an average capital. That
this 500, 900, is but small factor of
the large sum of over four hundred
million of bonds held by the Nation
al Banks as capital, andwhich would
make over four thousand such
banks as the one supposed.
Is there any wonder, then, that these
highly favored bondholding bankers
can SO devoutly turn the whites of
their eyes Heavenward, and in
solemn sorded reverence swear,
that this is the best directed adj
ADMINISTRATION the sun ever shone up
on? Is there much wonder, that their
patriotism, and love of justice, is so
completely subsidized by their self
interest? And that they cry aloud
for the perpetuation of the system
that SO rapidly, Though unjustly)
increases their store? A system
that in fourteen years has null
tiplied their wealth more than
seven fold. Or, is it any wonder, that
in forty millions of oppressed peo-
pie, are now clamorous for the des-
truction of such a privileged monster
of injustice and oppression?
A system that has enricht d its ia
vored few, more than seven fold in
fourteen gears; and at the same time
it, and its adjuncts, by it's legitimate
fruits, have reduced the value of prop
erty and labor at least one half what
it was worth fourteen years ago. Is
it any wonder that we hear the
cry from one end to the other of
this once happy land, 'let justice
be done though the Heavens fall"
Countrymen, trust in God, and look
to the ballot for redress.
Stand by your COlOrs.