Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-08-11
In progress something may turn mp in.
volying highlands foreign policy that win
prevent his getting really into power after
Ali
the Tax on state.BanK Notes,

such independent banks ~ were common
in this country prior TO the war between
the states. bat have said very little as 10
the expedienoy Of repeating the law which
makes all banks, State or national. pay a
tax of 10 per cent. upon all the notes of
State banks which they employ as cur
rency. The New York Mai and Erpress.
however. has become much interested in
this matter and In its last issue devotes
columns TO the opinions of bankers and
other ~inanciers who have written TO that
paper upon the subject. The heading Of
the article of the Nal and Erpre. is, "0d
S,eindes Must Not BE Reciced." -" That Tar on
Safe Rank Issues Must Re AHosced 10 Stand"
We copy a few names;
GxosoR b. CoLE, president First National
Bank. Greenwich, N. Y: GroRoE b. SLOAN,
president Second National Bank, oswego,
N. Y: JANIS A. MILLER. president First
National Bank. Amsterdam, N. Y. : JAcoD
SrsHMAS, president Mannheim National
Bank, Mannheim. Pa. JoHs @. LEWIS,
president First National Bank, Traverse
City, Mich. ROBERT LAND, president Peo-
pies National Bank. Bellefontaine, N. Y;
SAMUEL HrSEs. president Traders National
Bank. Scranton. Pa; CHARLES HYDE,
president Second National Bank. Titus
vile. Pa; JKRK. II. Nixon. cashier Had
donield National Bank, Haddonfield, N.
j.; JAMES ID. ORION. president Second
National Bank, Newark. N. j.. WILLIAM L.
HnLIAaD, president City National Bank.
Salem, n. j.; WILLIAM /. YAssEsT, presi-
dent First National Bank, Trenton.
N. j.; JOIN II. BBADwAY. president
First National Bank, Woodbury., N. j.;
JOHN w. NoYEs. president Derry National
Bank, Derry, N. H.; Louis DowSISc. JB.,
president National State Capital Bank,
Concord. N. H.. JOSEPH @. Burnley. presi-
dent Newmarket National Bank, Newman
ket, N. H.. JOHN l.. FARwKLL. president
Claremont National Bank, Claremont. N.
H.. AMOS G. BARsrow, president City Ma
tional Bank, Providence, r. l., from
whom we quoted yesterday; l.. w.
ANTHONY. president Traders National
Bank. Providence, X. l.; GEoRaE A.
WAsHBURs, president Taunton National
Bank, Taunton. Mass. @. ID. MORSE.
president Millbury National Bank, Mill
bury, Mass. II. s. HYDE, president Aga
wan National Bank. Springfield, Mass.
]. II. S~ASDERsoN, president Franklin Coun-
ty National Bank. Greenfield. Mass. and
N. A. RAINBoLT. president Norfolk Ma
tional Bank, Norfolk, Va. These are m
enough for one day. We could add to the
list by naming bankers and fnanciers
opposed to independent banks. who re-
side in Nebraska, Colorado. Virginia (H. s.
Trout. ESQ.,. president First National
Bank, Roanoke, Va.). Georgia, Florida,
Indiana, etc., etc. Mr.. TROUT, of Roanoke.
Va, writes as follows:
"The revival Of the State banks would be OK
ceedingly unfortunate. The national banking
system is the best IN the world. The currency
issued by national banks will pass anywhere in
this country and many foreign countries at par.
The bank Of Issue mas fail, yet II does not affect
the currency In tho least. How different 1t
would be as 10 State banks. Again, the super
vision OF the government lie a source OF great
strength to national banks. Nc, we don't want
any State money. We want a dollar that lie a
dollar anywhere in the world. ! am no free
coinage man or anything OF that kind"
II because an agent exceeds his powers
his principal is not bound by mis- acts,
surely the Democrats of the United States
are not bound 10 cry out for cheap money
because the Chicago convention put into
it's platform a plank which not one man in
a thousand was prepared to find in that
platform.
JAMES M. SCHUMAKER, president First
National Bank. Florida, writes:
"In our opinion, wildcat banking would be
given an opportunity, and In many localities
would DO revived. We think 1t most undesirable
that such a complicated and uncertain system OF
banking should be made possible"
That man "foreseeth the evil and hideth
himself" Wildcat banking would have
an opportunity to ruin the currency of the
country and wo uld avail itself Of that OPP
%portunity.
A. L. KERsEY. president Citizens Ma
tional Bank. Muncie. Ind. writes:
II think II a sound rule OF business never to
sity 90 do so and then only a safe one. just why
4, is that any man or party should want 10 leave
the good, broad, solid financial highway over
which tho nation has 30 successfully travelled
for more than twenty-five years for a founder In
the old Wildcat Dogs / cannot understand. Yet
1t appears there are those who would have us do
this foolish thing.
81 ain emphaticslly opposed 10 any such
step"