The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1891-01-30

The ALLIA: CE BASK.-We have several |
communications fr NJ several quarters Of the
State a-kIng for orr views of this proposed
cntc; prise.
We h We spoken {, cqncntly and uneqnivo-
c,lly o, this point in The Cotton Plant here
tofo,e; bu, we are W ling to throw addit DUAL
hsht upon the question ii We sre able
To our mind il Is quest on OF expectancy,
of bushes 50 pol cy aud nstu n ly there will
arise differences Of opinion among individ-
uals. Without claim ny fer cur opinions any
NOSE weight than their 'osical relAf n to The
NJ emises carries, we present the case rs IL
appears to us.
The Alliance Of the State hes subscribed
$50, 900 a. n bass for the commercial rating
OF the State Exchange. S'mc SlZ,ooo OF
This amount has bs9n paid in, aud for year
OF more has lain almost idle, In 81 iHr rs
it's en-. acity 10 earn q profit directly has been
exercised. True, it has given the State En-
change credit and thus has saved the farm
ers of the Stnte several hundred thousant
dollars in the one item of cotton covering
last year. But it is very easy to see that
this same monty, i'll csied in bank "t orr
own, instead of in stocks of other banks.
would serve the same purio o:e III m rc
effective way. aud at the same time yield 10
the sub-Alliaucss that contributed 1t the pro-
fit that now c,es TO the hauks using it. We
now performs M rs effectively bccaus>, the
operations of the State business agent could
te conducted nEcn smaller marquis Of pro-
fit to the wholesale men, il he had the a
lance Bank at his back.
THIS tc'rg tlua, nn'i We prc-une its tru
will not bc qucs ioucl, the stronger the bank,
the rrnger the agents credit, and the bet,
ter the ,e lbs to he obtained in his purchases
for the \ lianees, This is briefly the ground
on which we have adv. Gated the establish
ment OF the Al'iaucs Bank and &C think
that the results wi fully vind cate the wis
q es IT, 70 Us 10 resi- Upon mi,
app ehension of its LIN md purposes. Fo
instance, one bro'he"'s objection to an Al
lance Bank would C ng inst il, if it wer,
prop sed to csablish Natl nal B,nk 1u
this is n, pa If our inrcn n-nothing i.
further from cur pur, osc. The proposed
bank will he inrorpora cd under the laws OF
South Caroiua, a"d under Stnte laws it will
operate exc uSivcly. l should oppose il il
it were to be National Bluk
Another brother is very much conccrnc,
about the rate Of interest to he cha ged.
This, ~ well rs the precious qucs: ion, j.
we worth cinsilc alien: bat we sea, cclv
think il would he vi c to oppos, The cs'ab-
shmcnt o. the bank for fear unreas ma bic
rat Of intcrc.t would he cha gel. The di-
'cctpS VI III" t;tHk vi rcpreS. ut the Al
lance, whose rincip'cs are directly opposed
u exhoibitant discounts and iutercs'
Ii is IA t assume ;!iat an Alliance Bank
managed by Alliance men, in accordance
with AHirncc Principles, would be
conduct upon ate Of inier' ST hat w III
be fl. rs tctwern the al i,nce StoaLhalIer.
ON the one Ian ! ard the Alliance borrowers
--all lrc.hren- Oh The 9th l..
Eut even II it did q genera b,nking Lu>i-
ness Ike the ether banks, at the same rate
ofintcrcst or discount, 30 as to declare hand
some dividends, It occurs to us that the fnrm-
tr' vino contributed their funds /, the b,uk
in The way OF stock would b. the beucf-
ciareS. They arc the only ones who would b..
inte'c'ted as inves ors, and they would be
the only ones TO derive the direct profit.
while the whole brotherhood would enioy
the benefits they now enjoy.
1t appears to us that so far from the Bank
End the Exchange operating against each
other, the result would be to strengthen
both.-CoHon Plant.