Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1886-09-25
Str 1ntflliaenfs'
I7IoAsrER sEprEMBER Is 1856.
/ regularity Of National Banks.

o national banks seem to be very anx-
- cling to their privileges and even
u 10 hold their government bonds,
nut interest accruing upon them, as
hosls Of their currency notes. The
1eary Of the treasury has been calling
~ three per cent. bonds and the banks
I'D not been sending them, claiming that
49, at their option to keep the bonds, If
! ~ were willing to do without the inter-
-, and that while they held them, they
z S]DoQ5d keep out the bank notes which they
|u1unred. It is clear enough that they
- not send in their bonds for redemp-
4 1lou Il they are willing to lend their money
~ the government without interest: but
~ treasury department claims that
Eo1py cannot use bonds, not bearing interest,
EW tno basis of their currency. 1t is not
nV to understand why this should be so,
o1much as the security offered by the
R1onk b as great whether it is interest bear
of not; it commands the money of its
4 ~ at any time.
But this is matter between the govern.
ont officers and bank officials. What
s1wprises us is that the banks should want
~ pay this price for their national bank
Elvileges. 1t must be for the sweetness of
~ name, since there is no perceptible
&pFo0t in putting their money in govern
unont bonds not bearing interest to get the
Dtivilege Of issuing bank notes for less
8mOunt. 1t must delight them TO see
Z thelr name on the note, amid the pretty
songraving and pictures. Probably they
Qon1ider it to be first-class advertisement
~ their business. There must be some
thing Of value about national bank char
s3cr, Of somewhat subtle character, in
q vtew OF the price that is paid for it ; and
~ respectablity of it probably is the
elng. Banking is shaving, however done (;
~ when you bank under a national gov
Enment charter, you get stamp of au-
th0rity, which sets you up on mountain
~, - 1t were, and above the heads of the
tetle Individual, unauthorized, unchartered
md unanointed private bankers, whose
may freely be denounced as shaving
hops, by those who would never think of
- describing the nations bank, that takes
49, sAAolNy % ilCcis, SlNtS ullli no Interest
- calmly, and charges him interest as re.
lentleasly as the private bank.
Men OF capital are given to shaving as
~ sparks fly upward. 1t is SO very safe
md easy way to make money that they
Ike il. They remember what the Bible
lays about not laying away their substance
y : napkin; and they don't. Their favor.
~ way Of laying it away in this region is
~ national hank stock. 1t commands a
+ tvremium before the subscription books
;,0lcee every time q new bank is started.
3 s1ough the government bonds it has to own
~ IT. privilege of issuing notes bear no in
4 s6rest. The respectability of the national
INK - shaving machine makes it lovely
The eyes of the money-lender. 1t is like
g. nice parlor rugged up by the spider for the
3 \. Not only do the depositors flock there
put their money in so safe and reputable
- 4epository, hut they pay their interest
kfully when they are permitted the
Nh privilege Of borrowing it out. 1t is
eoeth paying good tax for such priyi-
oges, and this may explain why the ma
aOnal banks are eager to loan their money
3 ehe government for nothing. And we
4 y not know why the government should
k&eep It on such easy terms.