The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1886-12-30

h These institutions are armed bylaw with the
10 terrible powers OF Withdrawing from circula-
ce ton the metallic medium. to be buried In
In their vaults, and OF returning their promis-
" sory notes in exchange to The people, as the
a. only money b which their property and la
is Dor are to be regulated, to be enhanced or de-
q p~reciated In value as the banks may be pleased
i'd to Increase or diminish their issues and dis
counts. Thus have they a complete monop-
nd oily Of the whole traffic in money. and, by
n, consequence. a monopoly Of the entire credit,
and. indeed, Of almost every department. OF
an trade known to the country. These privi-
legest they enjoy under the strong temptation
n of cupidity to abuse them, and with all the
ae, facilities to crafty that passion, afforded by
ng the secrecy OF their operations. Nor have
as they neglected to provide for their crimes. in
be the event Of, detection, the most certain im-
ST. puntty, by assuming for their charters that In
We tangible sanctity which guards them against
the sacrilege OF legislative reformation. In
Cd sustaining this monstrous system OF eight
OIL hundred banks, with their .iIlimitable pow
Ito ers, an immense number OF men are directly
3. interested by pecuniary profits and favors-
of And now 1 shall begin hrst with the hold
.er ers OF the stock. The aggregate of this capt.
he tai stock. said to be paid in. and which,
raj whether paid In or not. is actually employed
of AZ . fund of traffic. may be stated at about
hit S300.000,D00. Thisstock is held in amounts not
80 ~ t6-1 t@5VSS ~ 8SA
ta- OF the owners: and If II be conceded that one
d. entire half of the aggregate is held by other
cal institutions. by foreigners and other persons
he not citizen voters. there will still remain
he seventy-nve Thousand voters, who are under
the direct influence Of the banking system as
IN stockholders, deriving an immense Income
1ld from its existence. These profits, paid under
all the name OF dividends. Will be found equal
cy, to 10 per cent yearly on the capital stock,
amounting, in the whole. to the sum Of $780,
mt 000.000-a sum paid, rs an annual tax, by the
lilo people of America, for the privilege of using
The as q currency. the notes Of banks promising
OF to pay money, Instead of the money itself
Ing and a large proportion OF which tax is sent
xed abroad as q tribute to foreigners.
ur- The next In order are the persons who, q,
IeW borrowers. stand in immediate dependence
ms. upon these Institutions, and therefore In
on, greater or less subsection to their influence
70 The aggregate of the loans and discounts will
lon be found not far from the enormous amour
Inc Of $4,000. 0O0; and IL 1t be supposed that one
ne third of the whole is loaned otherwise thar
py to citizen voters, and that the balance i
loaned In sums not exceeding. In the aver
vel age, $4,000, it will appear that about one hun
dred ana sixty-six thousand voters stand thu
Arly TO the banks in the relation of borrowers
OPP This estimate made in reference to the fac
that the same men are often both ~stockhold
ant. ers and borrowers, and to all other circum
i Va ~ bhos oAoS tAo 6SRAkoSy " oaSl
the a calculation, presents the formidable ARA
OBJ of two hundred and forty-one thousand mer
Itch who are drawn within the influence of tn
1t is banking system by the strong ties of pecuni
an airy Interest; and yet, great as is this army,
ave have given but the rank and file, without ii
Jard officers. EacE Of these eight hundred bank
ave has a Board, consisting, on an average, {
about nine directors-in all amounting I
r eff seven thousand two hundred men; and in az
the dftion to Ihislthere are eight hundred Ban
,lect Presidents, eight hundred cashiers, and
ouse least two thousand four hundred clerks, q
,osi- dependent, more or less, upon these institl
is It lions for employment and subsistence. An
fall still. there is yet to be enumerated a body
/ be auxiliary forces, who draw their rations fro
rms, the same grand commissariat. One attorne
yfo- at least, and often several. finds q hber
fer client in each of the banks. Thus q disci
,ou,s lined band of eight hundred lawyers, fet
ears, into the service of the banking system, q
con- stationed throughout the Republic, and star
Of ready. at q moments warning, to repair
that the rostrum of public discussion, to the hal
the of legislation, to the bench as Judges, or
or Q any other postiw here the arts of eloQuence
that tho cnicanery OF , pieader can most avail
ablic defending the dspredations, snlarging u
svf. privileges or guarding the sanctity Of tht