The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1882-07-27
following letter from col. I. Raymond, The
cashier Of the national bank OF my town,

following letter from II, col. I. Raymond, The
cashier Of the national bank Of my town,
[reading: j u Il. 4 !6s b
cLAsxsprno. ". VA. January ., 1877
DrAn SIN: submit ior your Information. = you
request. the following statement In regard 70 the
taxation, de-, Of this bank ios the year 1881
ay pasa1 s:po;. y; Sc q
Tx on deposits Tor 1851 70 Cni!ed states, u!
Tx on circulation lior llSsl 70 United itSii \.
T.a I'll. saussy md
ios ~
Total tag ior 1851 lover per cent? ! a,lao ss
ystJ respectfully. !, i !. ,,o., I. M.
Hon. B. WILSON. wa.hinston. b. .. -
I In the same come tion, Mr.. Chairman,
l desire to read the following letter from
]. f. Sands, cashier, Of q national bank in
an adjoining county. He discusses the
question 30. fully and intelllgently that l
am sure his letter will be listened to with
interest, [reading:] y \.
a,sj 20 T1lsi NATIONAL BANK, L,
TO-. 4, tairmont, Rta w.. February ~. lsS2
nk.a 81 roa Tiii pardon I,s 4 shi Letter & Of
have the question OF rechArtsring these banks be.
fore you Will venture 70 write you. In the hst
place. seems 10 me II they Arc 10 Be Iechartered
yer. thouM DC given to them, and sandry amend.
mentS should Be made TO the law governing them,
We have lesaltender, silver certificates Nation. 4.
nanf notes gold and oliver. Now, say perfect the
The aeld Of paper circulation 10 the National banks
aid the gold and silver 70 The Government, or else
90 away with the National bank, and Il. the Gov.
eminent sI In some WAY outside furnish the ereula;
unless Congress will take or ,hA war taxes and give
better bond than u 3per cent. You Will lind that
capital nov Ia them vi, gradually 60 out e1cePsts
had; Comparatively speaking lnese 1, bu. little
capital In them now when you compare II with the
private banks and State Chartered banks. II II
Is TO be perpetuat-d. take of the taxes, the two
National banks in most places now cannot do u
legitimate business and make any money for their
StockholderA We have 10 pay United States. State,
cnunty, and town taxes: pay SO for examination,
lion agency In Washington, expires charges 10 and
from ssid agency III Washington. making In oil
FULLY 3pcr cxntupon our cApIlA; then nay per cent
x w 70 ess
holders. ;STss d - > - ',..'-'D5
They II they arc to be rechsriercd there Is one
ming 90 with you would look alter. have before
National Bank Cases most Of them GU tho usury
Question, sections 5l97, 5l9s. n ~ 2. rs ~ T's
The New York Supreme Court decides THAT a
party Who pays moro than legal interest can recover
~ sS,G o1y twice the Sn% hs s1c 80
more than legal rate the note never did and never
could be made to carry any Interest, aud the party
must recover twice the amount Of all the Interest he
eyer did pay oiheEs hold that Il means only twice
The amount OF al! the Interest for two years. Now,
how are we poor fellows to know. when all these
Vile men differ? Cannot you make this 80 plain
mat even the courts and lawyers cannot mislnter.
prett begin 10 think II you can find any thing
national banks may as well stand aside. unless you
gentlemen In Congress will perfect the law making
Them. J have the honor to be, youn truly.
Hon. BENJAMIN WILSON. y 9 -lI5lii'I.!
Mr.. Chairman, desire to call the atten.
ton Of the House to the following extract
taken from the Financial and Commercial
Chronicle OF New York, Of date Of June q,
1882, [reading] 'vTake for instance, as II.
lustration, the effect excessive taxation
alone has had in this city in cnrtailing
banking facilities. Way back in 1857
the banking capital invested here was
about 15, 100000 and the !. exchanges
through the clearing house were eight and
one-third billions. In 1851 the capital was
only about SG2,0O0,0OO, with exchanges
forty-eignt and one-hall billions. That is
decrease Of nearly S per cent in capital
and an increase OF nearly 500 per cent in
work to be done by il. Even that state
ment, however, does not fully illustrate
the disparity between the work and the
capital to do it with, because the city is
now more than ever the centre OF the coun.
trys commerce and OF It's vastly increased
activities" - - s'Sitl{ss EG;-
( i hope, Mr.. Chairman. that the purcdic-
ton OF my distinguished friend from
Georgia MI. Stephens] and the gentleman
from Iowa Mr.. Kasson] will soon be
realized, and that the day IS not far distant
when the prosperous condition Of the coun.
try will enable Congress, with due regard
to the rights OF all the people, to abolish
the entire system Of internal revenue. 1t
is repugnant to our form OF government,
has ever been distasteful to American
statesmen. When the demands OF the
country required increased revenues it was
found necessary TO resort to it. E z5Sa:
The tax on matches everybody OF course
desires stricken of. And our State banks,
which have no aid from interest on Gov
eminent bonds, should be put on the same
footing or have equal advantages as far rs
may be with national banks. With the
payment Of our national debt national
banks must 60 out Of existence, Sd
When we reach the section Of the bill re-
lating to the tax upon tobacco and oigas
desire to offer further amendments, with
view OF giving our people the relief to
which they are entitled. Az I said, MIR.
Chairman, I a,n in favor of the general
features Of this bill. 1t does not, however,
20 far enough. 1t does not give to the peo-
pie relief from the excessive taxation which
Congress can with great propriety give ut
this time, The Committee Of Ways aud
Means have closed the door upon us, ]
think, too soon; nevertheless am prepared
to act, and to act now, on the pending bill,
and TO amend it az far as the demands oil
the country require that it should BE-
amended. [5is s,l r 1899 -. y
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T5zt2s5 n Why VIII You 3{-
Allow cold In advance in youy svste,p and