Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-12-10
THE NATIONAL BANKS.

Their Circulation Must Go, So the Sun
Says.
NEw York, December 9.-The Sun says,
editorially: With the extinction Of the cir
culation of the National Banks which all
signs indicate as imminent the inducement
for these institutions to remain Incorporated
under the laws ofthe United States will come
to an end, and it viii - FOR their interes.
either to wind up altogether or to reincor,
porate themselyea under the laws Of the
several States.
At present national bank CIRCULATION ia
tsAt;1, ~ ~ the United States only per cent.
PER anuum, while that of State banks is
practically prohibited by a similar tax of 10
rer cent. But, in return for this advantage,
the national banks have to submit to va
r;ous restrictions. They must keep on hand
at all times a reserve in lawful money vary
ing from Is to 25 per cent Of their iabili-
ties; they have to deposit with the United
States Treasurer an amount Of legal ten
der notes equal to 5 per cent Of
their circulation; they must receive
silver dollars the same as gold, whether they
want to or not; they are not permitted to
certify checks in advance of deposits; and
they are constantly subject to ANNOYING IN
terference in their affairs by Congress from
4 i..1- E-an These nnnSln-
erations have already driven number OF
them to surrender their national charters
and come under State laws; and now tnat
thew are no longer 10 have the profits they
have heretofore enjoyed from circulation,
the rest will soon follow their example. The
doom of the national banks, as such, IS
speedy extinction.
We have already called attention to the
disappearsnce OF S25 100000 of NatIona!
bank circulation during the past year, and
10 the almost certain withdrawal of the rest
of it BY 1891 owing to the paying of OF the
2 per cent and Al per cent bonds and the
rise in the price Of the is, which will then
be the only bonds receivable as security Tor
il. 1t is true that, imPelled by an
oyerestimate of the Importance oil
hank circulation, the Treasury author
tiles and various members OF Con
uress, supported by a number of newspapers
are strenuously urging measures for the
Dreventiop of this result. They desire that
he per cent tax on the circulation be re-
moved that in order to furnish basis FOR
i the public debt be prolonged, and that the
margin of security be diminished. Unless
we very much mistake the character OF the
American people, none of these efforts Will
rrove successful. The national bank carcu,
Iation must 90, and with it the national
banks themselves.
The loss of bank circulation will cause nc
npbl;c Inconvenience. Its place will De fat
l. supplied by national currency, the amour,
of which is continually increasing. Weshai
Sava coined by 1891 in silver dollars alone
rDore than the amount now. outstanding o.
not;onal hank notes, and if this source o.
snnrlv should be cut Of we shall need ONLY
20 fsIf back upon the constitutional issue O
iS,aI tenders to make up the deficiency. A:
EtfIe will the disappearance OF the nstions
hanks themselves be calamity. Private
Rails and State banks that issue no circu
1a,;ro notes will take their places, and fulfil
their functions quite as well, II not better
arj a fruitful subject Of debate will be r.
moved from the halls of Congress.
| krxLI1eESr people have quit taking bit
.oro and mineral poisons, have quit doctor
inc kidneys and liver, nerve and brain, hay'
nrT, usipr alcoholic pOisons and narcotic
Srugs have quit poisoning their system
ss' onsek postrums, and now keel
shsn.eIyes % and families in perfect health b,
.ocss;onaIIy using the only perfect bloo'
pprifer and true strengthener OF weak por
lions Of the body, known far and wide q
DR.. Guysott's Yellow Dock ana Sarsapariha
4ny druggist viii get it for you