Feliciana sentinel. [volume] (St. Francisville, La.) 1877-1892, 1878-03-02
FREE BANKING.

'"@'ooucco III Congress come
time ago b'!l to re. tore tn" tree
oan S'ng system Of ante deZum DAYS
ms measure seems to contem, late
me practica! abolition of the patton
al bank system. U, der tina. sys
ten, as the Darlington Is. O.
= News says. banks rarely located
outside OF large cities ana are re-
stricted H. their operations by 30
many !imita'irns as 10 be ute, "
unable to supply the needs whicn
Call Tor their establishment. I'M
Ger the free banking .ysten The
law OF Supply and demand wouIo
work with ut hindrauce and banks
wonId be established wherever the,
are really needed.
| There is no doubt that the pron.
os'non to epeal the Federal tax OF
10 per cent on the c'rcu alton OF
State banks is growing in favor
throughout the country. No
measure can be suggested tina:
would be Of greater benefit to ,hc
trade and industries of this State
and city. We doubt if there ex-
lists in any State.of the Union q
better or wiser system of free !
banks than that provided or by
the law Of Louisiana. II he Fed
eral tax on their circulation WIRE
abolished. those which are already
established here, end others which
would soon spring into existence.
would give a tremendous imretu-
to our mercantile, manufacturinp
and agricultural interests.
The country parishes PARTICULAR
~ would be benefited by a return
to the old system. The farmer.
planter and country merchant can.
not borrow from the banks of New :
D. leans. They are too remote .
rom the monetary centre 10 have
lose business relations with orr
and are. consequently, t.
compelled to apply to. factors for {
dvances OF money which the lat a
cr OBTAIN from the banks 1T n
1uch smaller rate o, interest than "
hat with which they charge their u
ust"mers. Country banks would ~
End TO facilitate ag' icul,uraI ope tt
atoms and WORK an immense bene. s,
TO the farmers, planters and re
erch'nts ct the interior oy pro- J,
ding them with loans on good II
at moderate rates of in 1t
rest. pl
The banking facilities of New q,
'.'eans are entirely mad, quate t., IS
9 requirements of this grca, CITY ~
d State. The want of suAic,en. III
ovab'e capital is one O: the main co
stacles to the deveIo .ment of on he
s'ne's and prosperity, and ;hcre Of
no easier Way OF overcoming thai mi
stacle than by the rec tub l,h- I;f
mt OF the circulation of free 49,
nks. The Louisiana Stature ,n'
alive to this matter (now SIC Tic
n 2S5 of Voorhees, Roy sell thu
'tute~ prov ded thai State b d VIII
'ted States b"nds aud c",so - nf
ed bonds of this city sl,o ID be H.
'oslted with the Auditor a. IL"
nrl'y for the circulation of tho
banks. and we brlieve no los, Go
ever sustained hy the holder. %
notes OF our free banks of the -, q,
en- times. "
he repeal of the oppressive De
eral tax IN State bank circu. n,,r
On would srecdily increase oa~ -
king capital and circulating TO
,um to he extent required by IN
demands OF our !, ious busints and c
res's. The es ab,isbment OF neces
banks. or the conversion O, Once
onal banks into free Stale ~
rs. would lead to The ab~o,p-
OF millions 4 dol lars worth of
securities. Under the law W. Br
referred to GU State and CIV
3, instead Of being deac capi-
taxing the pro Welsl
We ensrgles of the peopl e''
d be u'chased for b,nkirg Ft sSe'
oses and held by the .Aldi,ur
'urlty tor an equal amount OF
lnteed bank-note circL Iation sn Inc
gn capital would cage, v rabie f
Investment in our bonds aud gether
well the poiden P,o,,,,,,, H. not tou
Aou H. -, ""'o''o Via tion, c.
1merce and agriculture. NJ, Manuf,
would the State deb, cease :, 2S1 and
but the people would o nuH, az" "J
an actual benefit from it il Urea tbs,
'ge volume Of safe AID we'll mar.2
q cnrrelcy for which il
serve as basis. We hope
IRE, that our representatives II