The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1893-02-07
STATE BANKS.
Another Means to Make the Poor Poorer
and the Rich Richer

ana BHG
Mr.. EDITOR No possible good will
accrue to working men and women and
| their children in the establishing of
| State banks, but injury as long as said
banks are allowed to exist. So soon as
| State bank notes are afOat as money,
hoard of avariciOus men Will set
themselves up as brokers. Their bust
ness will be to shave bank notes and 70
make their business more profitable.
Reports will be circulated that certain
banks are in a shaky condition. One
bank will save up the notes of other
banks and run upon them, just as the
bank note shaver will do When the
bank of Raleigh saves up ten to fifteen
| thousand dollars of notes of the bank
of Wilmington or any other bank, an
agent is dispatched to said bank and
the demand is made. The bank of
Raleigh says to the bank of Whining
ton: / have $40 900 Of your notes,
please give me the gold. Not having
the gold, the bank of Wilmington goes
in for making the best barter trade pos
sible, so the cashier produces 81, 900 of
the notes of the bank of Raleigh and
says, here Is 81, 900 of your notes ard /
have $5, 900 Of the notes of the bank of
Goldsboro, how can | get them off on
you, you are going back by way of
Goldsb0ro. Yes, Raleigh replies, I will
take them at ] per cent. discount. That
is all right. The bank of Wilmington
replies and says, now | will be glad to
let you have 81, 900 in New York Ex-
change; how will that suit you2 Will
take the exchange at ] per cent. dis
count All right, the check is drawn
and the bank of Raleigh has 81, 900 of
her own notes, $4,000 on the bank of
| GOldsbOro, 81 00U exchange on New
| York and $45 profits less the expense
of going from Raleigh to Wilmington
and return. Now comes in another
shave on the bank of Goldsboro on the
| SIS, 900 batch of notes obtained from the
bank of Wilmington, which will be at
least ! per cent more, which added to
the $45 makes $40 The bank Of Colds
bOrO not having any bank of Raleigh
notes, has 20 give either gold or ex
| change. If exchange, then the bank of
Raleigh has 50 600 on New York to sell
at or per cent. Ii at a half, here you
have $115 made by the bank of Raj
eigh in the one transaction
This gives some idea of the workings
of State banks. This one evil is easily
told compared to many others. Who
of the people are losing all the profits
which these money sharks are making
through this State bank system9 There
can be but one answCr-the bread
Wiuners-the laborjng classes. beg to
quote from Gov. Carr's message. He
SAYS of the State bank system as pro-
| posed: Il cannot conceive of a new
| question likely TO come before the Gen
eral Assembly which involves more
! for the people Of the State than this"
! Knowing as | do, having held the
office of receiving and paying teller for
! ten years in the bank of the STATE of
| North Carolina, and then in the bank
of North Carolina, the many evils at
tending the State banking system.
cannot conceive of any new question
likely to come before the General AS
sembly which will involve g. greater
injury to the laboTing people than this
| The Governor says further on: while
| am as hostile to any system of wild
cat banks as any one can be, eTc."
Now | beg to ask his eXcellency what
makes wildcat banks under any system
of banking? Banks, as understand it,
are made up OF money as q basis for the
doing Of business, and by men as officers
to transact the banking business for
the benefit of the stockholders. Now
what makes wildcat banks? My an
|
regard the laws of Goo or man. human
beings in the shape Of men, who ignore
all the higher and nObler principles
which God in His wisdom intended
maa to observe, honor and cultivate
If my answer be correct (and who
can or will dispute It) then wildcat
men wherever found, in banking insti-
tuGiOns, in railroad offices, in county
offices, in State Offices, from the Gov
eruor down to doOrkeeper Of the Gen
eral Assembly, will prove curses to the
people,
II the General Assembly of North
Carolina, as it now exists be not com
posed OF wildcat" members by q
ruling majority, then q law will be
passed promptly to prevent polecat
pOllholders from hencefOrth stufting
and robbIDg the ballot box and educat-
ing our boys and young men that the
end justified the means. In plain Ian
guage, that false swearing and perjury
is not wrong in elections or in county
officials when the dominant party is to
be served, or in the office Of registrar
when poor, ignorant voters are to be
cheated out of their votes, Or when q
p0llhOlder is indicted for eating ballots
to keep the popular candidate from be-
ing elected. Are our young men to be
debauched as fast as they arrive at the
age of 81, and trained and educa1ed to
be political scOundrels -poleeats-to
perpetuate political party whose rec.
ord is one of blood, crime and sin of
every type and hue? Our young men
should be educated and trained to be
servants of the only true and living
God and. His Son, whom He gave to
suffer and to die that a world in sin
might be saved from eternal death.
Righteousness exalteth a nation, but
sin is disgrace to any people,"
National WGtchn1a11: Politicians are
already chuckling over their campaign