The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1892-09-15

calculated by the Treasurer. 1t az
pears thus from said tables that v
have to-day in circulation in the Ma
tlon more money per capita than q
any time since 1860. But how stand
it with reference to North Carolina
Through the courtesy of the Honora
bic Treasurer of the State who ful
nished me the statistics, l am able t
submit the following:
STATEMENT I.
| Showing the capital, circulation
&C., &C., of State Banks in 1860, an,
of State and National Banks in 1891
in North Carolina.
1860 1891
No. of Banks, Is 70
Capital, s s,13o,6e5, 81, 4,se6, ,992 o;
Circulation, 6, ,474.5O sol %;
Deposits, /, $50, ,41O.19, 7,7OO,33:
Loans, 1O,O12,O53.O7, 1852, $3.50
Cash on hand, 1,369,217.9(
Population, 992, ,e22, 1917, ,947
Prp'rty vl'n, 127,O75,772, 262,796,s1t
We will go one step further and give
STATEMENT 2,
Showing the capital, circulation,
&c, &C., of State and Private Banks
and of National Banks in North Car
olina in 1891.
NJ Of pasts Ste & Pr'ts ts b'ks Nations5 s5 b'ks
Capital, s2,175, ,492 .o5, 1851, 10000
Circulation, COL ,225.OO
Deposits, 3,24S, $4,000 A. ,451 1893 90
Loans, 1926, ,95O.9O, Z, 7,125. .6S5 90
Cash on hand, 669, ,291.9O, 7OO,O26.O
We ascertain these facts from the
above statements
First, That the per capita circula-
ton of the Nation was 81 3.S5 in 1860,
and s23.45 in 1891.
Second, That in North Carolina in
1860 with 100000 less population
than to-day, and 135 millions less of
property, there was S3,26o,ooo more
capital invested in the Banking Bust
ness and about five times the amount
of money in active circulation than
there is to-day; and that in 1860 the
State Bank circulation was ten times
what the National Bank circulation is
to-day. That in 1860 the loans of
the Banks about equalled their capital
and deposits and left their six millions
of circulation untouched. Whereas in
1891 the loans of the Banks absorbed
their entire capital deposits and circu-
lation leaving nothing behind. These
statistics establish the fact that though
the Banks in North Carolina to-day,
National, State and Private, are doing
their BEST to help the people and are
doing more than the Banks did before
the war in proportion to their re-
sources, there is to-day in North Caro-
lima great deficit of Banking capital;
and that instead of only S4,8oo,ooo
capital and s6o1,oo Bank
circulation in the State there ought to
be at least s12, 900 invested in
and at least $4,000, 900 of
Bank notes in circulation to be as we'll
provided for as we were before the
war.
How is this, some one will say,
when you have just above conceded
that the per capita in the Nation is
third greater to-day than in 1860?
The answer is easy. Tis true the per
capita circulation in the Nation is
greater now than before the war, but
where is the money? What has been
the effect of the Nations financial pol
icy upon the distribution Of the money,
or rather the non distribution of the
money of the country? Look at the
report OF the National Banks of New
York City, Boston, Philadelphia,
Chicago, of any of the Banks OF the
money centers of the country. Take
New York City as an illustration. The
capital of the Banks of that city ag-
grega.es less than 50 millions. What
are their deposits, about the same
amount? No! s55o,ooo,ooo. Ten
times their capital. What their cash
money on hand -? About one-fourth
their capital? No! Ten times this
21a times their capital. How is it in
North Carolina? Why, the deposits
in the Banks to-day exceed the capital
Of those Banks less than 3 millions,
md their cash on hand is less than Il
heir capital, and less than 10 per
cent. of their combined capital and
deposits.
The meaning of all this is that we
need more money in circulation in
our State; and that money must be of
uCh character that it will not gravi-
ate to these moneyed centres and
cave us barren, but as it has been well |
;alled it must be
"a STAY AT HOME CURRENCY"
How is this to be accomplished l
low of no scheme so available as to |
eturn to the ante be!lum State Banks |
If issue. There was never any COM
)laint before the war, that this kind of
gravitated to the money CEN
res. 1t generally came back from
iiSlS, IL ~ S'Si SOl tiiSiS, HUH iuOie
quickly than the Banks issuing it
wanted it back. No piece of infor-
nation could be more annoying to
he ante bellum Banker than the news
hat a stranger was in town with sus-
oicious looking carpet-b bag in his
land for it generally contained bag
ull of notes Of the Bank, for which
he Ubiquitous stranger politely de-
gold or silver, or New York
at a premium. l believe
he carpet-bagger was familiar per-
'onage to the people of North Caro-
Ina long before the days of Recon-
and was nearly as objection
able customer as his later day ar
rival
REPEAL THE TAX ON STATE BANK NOTES
The defects in the National Bank
A.