Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1892-05-05
National Banks.

There has for many years been
large class Of American citizens opposed
TO National Banks, and probably many
of them honestly too, because they have
never made any clear study of the
system and have been mislead by un.
reliable stump speakers and dishonest
or ignorant writer's. Anti National
Bank planks have been incorporated
into party platforms generally through
ignorance. prejudice, or a desire to
make little political capital. This has
been done in spite of the fact that the
paper currency Of this country was
never so good as it has been since the
establishment of these banks There
is not a bank bill in circulation to day
that is examined any further than TO
determine whether or not it is counter.
felt. No one looks TO see whether il is
issued nv bank IN Louisiana or in
Maine 50 long as it has the right feel
to il. How entirely different from the
wild cat currency, that was soplenti-
full before the war, that got poore" and
poorer the further You were away from
the bank of issue. and kept a business
man good portion of his time examin-
ing the latest issue Of The Bank Bill
Dettctor" in order that be might know
whether the note he held was worth six
or sixty cents on the dollar. Certainly
no one Is ut all anxious to 90 back to
the good old times when steamboat
captain bartering for wood was asked
by lauk woodsman. What currency
he had, "Oh, Bank Of Sinapee" replied
the captain: How'll you deal?" oh,
ever up replied the owner Of the wood
"Why, what do you mean bv tina"
asked the captain; "Oh, cord for cord, "
was tEe reply Now we haven't that
kind of currency any more and what is
more we don't want it
The cry has been made that The
government loans money TO National
Banks and TO no one else. This is not
so. The government does not loan
money To anyone, or to any corporation.
Ii has also been asserted time and again
that National Bankers under the foster
ing care OF the government becomes
Immediately ricb If National Banks
are such profitable institutions why are
there not more OF them established? 1t
is not such n very iflicut matter to get
company worth $4,000 together and
if there is such zig profit 50 easily
made, why don't more people invest?
The answer is that the great profit is
all sham, existing only in the minds
or on the tongues OF those who don't
know or won't know
There are in Grant County some ten
or dozen banks and but one of these
is National Bank, and it is the only
one we have any knowledge of in this
Congressional District We vouchsafe
the following facts concerning National
Banks II National Bank deposits
100000 worth of government bonds
bought at current rates, with the
government rs Secnri4 for the pay
ment of its own bill il can get from the
government $4,000 worth of bills which
become money when signed by the
officers Of tie bank and are then simply
promise 10 pay on demand, by the
bank and not b. ne government. just
as long as the bank is good" the
government has nothing whatever to do
with the redemption 1t These notes but
should the bank fail, thon rhe govern
ment sells AT The highest marset price
The hundred thousand dalar> worth Of
bonds held d. security deduct, from
tie proceed. the cNact amount 81 out