The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1885-05-21
her now. ALI of that absurdity.has left
her with her growth of strength and
nerve power. No, meat is the food of
humanity, and man must stick to it."
Only Seventeen Years.

WASHINGTON, May s.-The fiscal year
will close with the total number of Ma.
tional Banks reaching to 5000. The
exact figures are not yet made up, but
the total will not be much above and not
below that figure. The steady growth of
this system is something remarkable.
Even now, with dissolution staring it in
the face, it continues to grow. For, un:
less the ingenuity of the national fnan-
ces shall enable them to invent a new
system, it is easy to see that The days of
the national banking system are number
ed. There are but little over billion of
dollars of national bonds now outstand-
ing.
We have been reducing the debt this
yesr at the rate of $60,000,000 year, so
that at this rate it will take only seven
teen years to call in every bond outstand.
ing. In some former years the reduction
of the debt has been much more rapid,
but supposing that il may run on at this
rate it will be but seventeen years before
the last vestige of foundation for the
system will be called in. OF course the
holders of the bonds need not tender
them when they are called for if they
choose to keep them, but they will lose
the interest from the date of the call.
So of course they will have to give them
up and give up their banks, unless some
other means is found for continuing their
existence. The banks now hold about
one.third of the bonds outstanding,
securing their circulation by this means.
So that there remains but about six or
seven hundred million dollars of the
bonds thar can be taken up before the
foundation of the banks must go. This
will be absorbed in ten years at the pres.
ent rate of paying off the national debt.
Even now, at every bond call some of
the bonds held by banks are being called
for, but at present the banks may replace
those called with others bought on the
markets. But by and by the number left
over will be so small there will be moth.
ing to be bought to take the places of
those called. Yet with possible life of
but little over decade, the number of
banks goes steadily on increasing until it
reaches 5000, with capital of between
five and six hundred millions.
The number of banks organized this
year will not be quite so large as last
year. Those of last year outnumbered
those of any preceding year. The growth
in amount Of capital in the past two or
three years is not so noticeable as in some
other years, for the privilege given them
some two or three years ago of organize.
tion with capital as low as $4,000 has
lessened the aggregate capital put into
the new banks. Probably three.fourths
of the new banks organized now have
capital not exceeding $4,000.
New York and Pennsylvania are the
great States for national banks, as they
are for cigarmakers and political bosses.
New York has about 800 of them, and
Pennsylvania something like 25O. Of
all the cities of the country, however,
Pittsburg removes the dilapidated linen
from the shrubbery as a location for
national banks. There are twenty-five
of them, or half as many for this city of
one hundred and seventy.five thousand
as for New York city, with its million
and a half of people. There are only
three cities in the country whose banks
reach as large a number as those of
Pittsburg, and yet there are eleven with
larger population Cincinnati Times.
Star.