The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-01-10
THE BANKS AND THE GOLD CRISIS

The New York World prints list OF
the National banks that, within TWEEN
ty-four hours after the Presidents call,
declared their willingness to sub
scribe to the new bonds on B per
cent basis. Among these are two
North Carolina banks, the Atlanuc
National Bank of Wilmington, $4,000,
and the First National Bank of Eliza
beth City, $4,000.
OF this list the national banks of
Ohio lead with So, 406, 500, Pennsylvan-
Ia comes next with S1,612,500 Ken
lucky is third with $1,118,OOO, Illinois
hanks will subscribe $1,0S5,0O0, Iowa,
SS67 800, Wisconsin, $695,000, New ork
$500 900. Kansas, 1921 900, Tennessee,
1924 900. Maryland, 100000, Montana,
s455 900. Virginia. $445,00O, Colorado,
$4,000. Michigan, $315,000, Vermont,
1915. 900, Massachusetts S306,0O0, West
Virginia, 1901 200, Indiana, $294,O0O,
| California. 1865, 900, Texas, $249,50O,
South Dakota, 100000, Minnesota,
| s204. 900. Maine, $180,000 North Dako-
Ia. SIT. 500, Florida, $4,000, Wash
ington, $137 500, Missouri, $4,000, Ne
| braska. $4,000, Connecticut, $4,000,
| New Jersey, $685. North Carolina,
$50, 900, Georgia, $4,000, Alabama,
$50. 600, Utah, $50, 900, Mississippi, $37,-
| 500. District of Columbia, 100000,
South Carolina, $4,000, Idaho, $4,000,
| Delaware, $4,000, New Hampshire,
| 900, Louisiana, $4,000.
In addition to the above, other banks
in nearly all the States named have
| signified their willingness to subscribe
| but have named no amount
| Commenting on the above the World
says:
| at is in the power of the national
| banks to make the new bond issue
| success. 1t is not merely their duty to
| the Government to do it, but 1T in
| wolves their own self-preservation.
They have shown that they have
| the gold. They have proved that they
were ready to furnish it to the syndi-
cate. They must furnish it to the
| Government, and they must furnish 1t
| on fair terms.
"The banks have hundred millions
| of gold in the three great cities alone
| of New York, Boston, and Chicago.
| The prompt, hearty and spontaneous
| offers of the smaller banks in the
country not only furnish them an eX-
| ample but impose on them an obliga-
| ton.
"The eyes of the nation are on them.
| If they refuse to aid the Government
| in an emergency, if they join hands
with the spectators who are trying
| to 'hold up the Government, the pow
| er which called them into existence,
| gave them their charters and made
| them the only privileged class in the
| country will deal with them as they
| have dealt with it.
There is already an intense preju-
| dice against the national banks, es-
| pecially in the great West and South.
/ Should they persist in mistaken pol
| icy Of hostility they will strengthen
that feeling. They viii put weapon
| in its hands for their own destruction.
| 'They can furnish the gold to the
| Treasury. and once in there they can
| keep it there. To refuse to exercise
| that power now would be to invite an
outburst of indignant hostility that
would sweep them out of existence"
/ Our banking interests should care
fully consider the issue which is now
at stake. They have it in their power
| to insure or break the financial
| strength and honor of the nation.
| Outside capital is watching the issue
If the banks fail TO respond, now that
| the bond issue has been determined
/ upon, the result viii be a syndicate
receivership for the treasury of n
| great nation. 1t is clear that the sue
| cess or failure Of the loan is in the
| hands of the bankers.