The daily gazette., 1881-01-24
MONDAY. JANUARY "a. 1881.
BANKs rnAr ARE Nor NATIONAL


- -----------------=-
BANKS THAT ARE Nor NATIONAL.
In no time have we'll managed banks
that we're not national banks made
more money than during the past eight
or ten years The old State banks
that have been doing business upon
the greenbacks and such National
bank notes as they could pick up or
was deposited, have done q good
sound business during the whole de-
eade. frequently these banks bor-
rowed ten to twenty and sometimes as
high as $50, 900, at six per cent. and
BY iudieious loans made money upon
il: because their customers rarely had
more than tvo-thirds of the money
they borrowed out Of the bank at one
time; duriag the past year these banks
have borrowed large ms at Ave per
cent. and discounted it at per eeRt.
IN addition large deposits Of gold an d
silver have enabiod the banks that were
no. national 10 make money on capital
ut no cost at4al. The consequence is
that the stocks OF such banks are all
higher than ever known to be. The
plethora Of money TO be sure has en-
abled some Of the largest Of tho Ma
tional banks to return their bonds and
do their discouuting ON deposits thus
making N ne yon capital that did Dol
belong to Ehe n. The immense sums
of gold and silver that have come iuto
the country auring 1879 and 1880 have
been dist ibutsd in the banks by de-
positors enabling many Of these insti-
tutions that had taken the per cent.
loan bonds 40 par to sell them now
that they ar- 40 apremium and readily
bring ll33 and thus make over per
cent. on them drring the two years in
addition to the per cent. interest
That is to say any Bank in Delaware
two years ago might have taken $780,
900 in pei cent. Government bonds,
and take Off the coupons for the two |
years which would have been $50 on |
each 81 900 and then sell the bonds
for t1l5 81 on each 500, or 81, $50 for
the 100000 making sl1S, 500; to
which must be added IS, 900 for the
two years interest. Total, $121, 500.
Some Of the banks have actually done
this. So 8e presume have individual
bankers and many men who we're not
bankers also. Money could not be
made more readily or more rapidly in
the usual business operations. The
transaction IS equal TO gain Of about
per cent per aanum.
Now suppose a gentleman having
800, 900 1 4pef5enss sells them for Sl13,-
$40 and buys } per cent. bonds, his
interest OF the laater will be SO, 405;
while it was only $4,000 on the per
cents. He certainly is not the loser
be receives 1895 less a year in inter
est; out ne nas increased his capital
SIS, 500. Say his per cent. loan
would have run ten years he would
only have received s3950 mere in in
terest; while oy neiliLg and buying
per cents. he holds in hand s13, 500 of
capital thai may DO applied in the pur-
chase Of property that would pay a
higher interest at any time. Really
we cannot see now anybody can be |
injured by hs prop sed Refunding
Bill; while it will make the taxes
lighter upon all, ana help to get the
nation out Of debt or reduce the bur
den of taI alton under which all our
industries now labor
rHB religious population of Canada
Is divided az follows: Catholics, ,492,-
O00i Presby ytsrlans, J44, ,S9s; Ang iecans
494 WeslsYaus aud Methodsts,
so7 Ool; Bapt.ss. 2s9, ,343 Lstherans,
57,SSb, CohsregatlonslIsts, 2, $50; mis-
cellAueous, 90, s,sJ7s Of no rehslsu, 5,575;
no creeds stated, 7,055. Total, s,4S5,-
s6l.
Since 1874 Canada bas enjoyed the
espeeial protection Of the greatest
monarchy n ,He world, and We, its
population = compared with the
United States Ia, creased rery slowly,
a. the above figures show and it /.
doubtful whelhef 10 will not Increase
less rapidly 81 iltarN years. The ten
deney of the people u Germany, France
and Other European countries, is toward
self-goYernDeAt, and hence those who
seek new homes prefer the republic.
The PhlIadelnma NIas IrnsL,, has