The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1885-11-26

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Az hbie fsliel 90 The Atoye sstJ In
ffam Ons ~ the Lssains Rlssntiffa d
iie uHiief niateselif, Cashier Eiaeas
Fsn Answers 1o.ns OtIsetigns ~ ~
herald ssto nis elan
uuminsfeisi NsHrnai liant, New YORK
InsamAef q, if'i 10 llia Ndlior 20 rui
DALLAS nHhftni
A front ofyOur city hiss boon reud
ihg me o0plaa ofTuE liEnALp, and
havs bssn mach Interested In your %
lloriala CONCERNING ina growth and
ue0ds OF your sastlnu, 1 nave before
mo youe editorial ~ N1vomher z, on
Security Tor Bank Deposits" which
suggestg ard oats forth this laiisf.
u every city Ia she South bnd such
n live paaer ais Dallas has in IHE lHH'
AID, sho would noe be long in attsiu-
ing \ graat prosperity, which is ulii'
natels her deSIipy.
know frotu experience NJ a South
orner, .has tho great need 81 tne South
IA capital, Amp'o opportunities exist
there fay iir prnA table iJVrrtmcut. II
u here aud bisowhOfe North SOB gr0st
lhuud9noc, % msny csser without
prrhtHJia employ msut.
HOW osH 10 he transformer I4is -
Aprnot.Cll ouOstiuu and HhGuii uGmib
OF prRssica' solution,
No matter WEa. the opportunities
flr tua inVdatmrHt ~ capital may be,
they al roman for tyor VIelubraceu,
nnlcss an ScquAluiaA"s ~ Eu.,sl con-
hitpCs cau be- made between
thu caplta'i-. 4aC the bar
rover. Capital - n0vot Invested
e "A %
Cotidencs eau only he Esd where a
sense 81 security eNiBls, GiVb tuis
sense Of security, ana them 80 once
capita dos 10 the point WheT0 IL ia
most va ated.
Reducing lnede gGnosGlitles - prgc-
slCaJ details. II We can Tab iSN Auch
system OF mutual con ddonco through
100 medium Oh LGtiopai bsukS, undcr
the supervision OF The general gov
ernlneLt, that banks htiuatad
~ she money oeDur, VISA =
petborN Of capital know thst
they can s2illY use theft uurpluS
though national banks situated WHORE
tn5 opportunities eNisE for ita profitable
omplOymsny, VIII not tho inevitable
tendonuy 20 10 d.VoIt capit&i from
tbBso lnouSy c6utora 81 thyss plsoCa
whgIo IL CAV he better utilized
o., Hgating tho proportion ia q more
MlRtlBF-u i-fgct way, II mousY ~ worth
il Ngw York 30 6 pvr csut Gnd IN
Texas II 20 Is per cent, and New York
Knows shs san safely send her money
n Texas. and has u satisfactory con
r4oti0r thdrs, will not tue natural re-
Suit DO TO Saullizs tho rates Of interest
bolwe6n tEo two points by tronafer
az such n2Vusy?
gScure ihs creditors of nstiOHsl
banks By fcnd ousside OF and lode.
pendent of their aSscta, in the
nnuds OF a tru5ses,who shall be Beyond
o ven a spspielUn, acd ut once Won
moka each national bank, in every
place where capitsi is needed and IN
forest = high, s reservoir 10 rgGeive
eu5 distribute capital f'On egory
other pUia5 whore capital cannot b 50
proh5ebly employed, and where liz
trrss, IS low,
You sosm ratksr so object TO the 10
moysi OF :l9 tax on circulation, OyeS
Hrd ABOVE tao aluonUt necessary to
liquiasip The claims against relied
iail .nSl banks, and argus thAt he
caUse 1917 600, 600 OF circulation IS QUE
stau lag IL - prnot that tbs tax Is not
onG,ous.
il you viii, however, consider hCW
this circulation is made up, think
you must eouelHde th2G l. 10 moro TO
tao interest Of tho public tbat'thls tax
should be removed then totne insor0st
Cf the banks themselves.
You know that banks arc allowed to
issua 81 per cont. cS their capitsl in eir-
, cuiatipS notes, which muat be secured
by = oepesit OF & )vsrnment bondn 10
the full amoant OF their cGpital. BuG
thay are not required to issue any notes
whatever, though they are required to
! deposit u minimum amount OF DoDoS.
| II you will examine, you will hno
| tRL. those bsEhg in communities where
| capital IL scarce snd interest high,
| i2ode the maximum amounI Oh
| circulation. and that those banks IN
communities where capital is aDuna-
| ant and interest," low, lssuo the Dain-
| imum amount. In many cAson banks
with very large deposits Issue none az
all. Take, for example, the faur cities
OF New York. Philadelphia. Boston
and Chicago. New York has SAC, $50
eco of banking capital and issues $751;
2iS 900 circulation. Philgoeiphic has
$lS,O5S,OQ0 capital and $s,4S4 0O0 cir
culatiop. Bosom has SOL, S5l, 900 cap,
itnl and $25,324, 600 circuisnon; and
Chicago has $1l,lJ0.0oO capital and
$S46,00O circulation. Combined, SlzI,
eoS.C0o capital t end ,.; $a1'9oh ,ooI
might isaue Sll4,S47 eco circulation
thus showing difference OF 3'9ls, ON
WHICH they would issu0 ii profitable
employment WAS found for it, eGns:I
erius both the premium on the Eecea'
gary bonds TO DO deposited with the
government ana the TEX on circulation
itself. ReGaova thii TAX end give the
opportunity for profitable employ
nant, with tho @hols cnuntry "a tht
field, and this capital, with many mil
lions more, at once comes into Inc
market, competing for tho best obtain
able rate OF interest.
Retain this tax sn6 you make The
competition less by reducing the rate
of profit. Certainly tho borrowing
public IL equally, il not more, inter
es'ed in the repeal of this tax.
II the banking systom DO so per
feeted an to secure 0epesitorS py
fund contributed by the banks thsm'
| sslves, thus producing the confidence
which distributes capital, then we
think this last relic OF the direct Wal
taxation might be suspended, whether
the benefit falls on the banks or the
public, or both. Yours truly,
w. w. FLANAGAN.
|
Thousands of women bless the day
GA which DR.. Pierce's "Favorlte Pre-
scription" was made known 10 thom
In all those arrangements oauslnf
packsche, draGging-down sensations
nervous and general debility, II IS
| -.>raSogu, ra,NaoJu Tia aOOtbiug enc