Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1896-08-07
WHO rs TT MAKING WARP

VINO IS TT MAKING WARP
The fol lowing editorial paragraph appears
in the Staunton News of Tuesday:
There has been disposition shown by some
of the advocates of free silver to make war
on banks and bankers, and this leads to the
question
Who are the banks?
In printed notices one reads the name of the
president and those of few directors. In the
bank itself he sees few men-cashier, teller,
bookkeepers and clerks. In his haste he may
think these men are the bank.
There is where he is mistaken.
The real bankers are the stockholders
me rchants, doctors, farmers and other solid
men in community. The president, direc-
tors, teller, cashier, ETC., are the servants of
the stockholders. The majority OF the stock
holders are men of moderate means. Very
| often, banks are organized with the express
understanding that no individual shall own
more than ten or twenty shares -
We know OF no journal that ought to he
better qualified to give exert opinions on
banks and banking than our esteemed CO
temporary the Neacs. A paper Of whose
Board of seven Directors six are connected
with the National Banks as Directors OF
officers, ought to be well up on banks. But
we would respectfully suggest that our
contemporary is altogether at sea about who
it is that has shown disposition to make
war;" We would call it's attention to the
following outbreak of "war'' on the part of
the First National Bank of Alliance,
Nebraska, one of the most remarkable
efforts by National Bank to bulldoze the
voters that we have ever seen. 1t is Cir
cular addressed to all the farmers of Box.
butte county who are indebted to the bank
for loans:
ALLIANCE, NEB., July %.
Dear SHOWING to the constant agitation
OF the financial policy of the United States
and the socialstic feeling emanating from the
Chicago convention, there has been a doubt
thrown over the minds of the people, such
that points to the possibilities of a greater
panic than we have seen should the laboring
meu of the country be thrown out of employ
ment (now only half employed). There will
be great labor troubles, such that will call
on our military and cause much distrust as to
the future outcome. We prefer to do nothing
till there is more stability rather than take
the chances of losing what we have, and
would advise all our friends to stay out of
debt. We will call in all our paper this fall.
We have your note s. due -. Please be
prepared to meet it promptly, and do not ask
for further time. Yours truly.
X. M. HAMPTON. Cashier.
Worked in the dark that might have been
a good Mckinley card but, exposed, it has
proved first-class Bryan card. Perhaps
our confiding contemporary of the Nevs,
who seems to have much faith in banks
and to have most peculiar ideas of who
constitutes them, may think that the cir
cular of I'll. M. Hampton. Cashier" was
brought about by fright at the Chicago
platform and that he lost his head for the
time. Not a bit of it, Three years ago,
under date of March IL, 1898, the National
Bankers Association issued the following
cold b1ooded circular to the National banks
of the country:
"Dear Sir:
"The interests of the national bankers re-
quire immediate financial legislation by con-
gress. Silver. silver certificates aad treasury
notes most be retired, and the national bank
notes, upon gold basis. made the only mon
ey. This will require the authorization of
from $780, 600 900 to 81 900 600 900 of new bonds
as basis of circulation. You will at once
retire one third of your circulation and call
in one-half of your loans. Be careful to make
money stringency felt among your patrons,
especially among influential business men.
Advocate an extra session of congress fol the
repeal Of the purchase clause of the Sherman
law, and act with the other banks of your
city in securing large petition to congress
for its unconditional repeal per accompany
ing form. Use personal influence with con-
gressmen, and particularly let your wishes
be known to your senator's. The future life
of national banks as fixed and safe invest
ments depends upon immediate action, as
there is an increasing sentiment in favor of
government legal tender notes and silver
coinage
This is nice plan of campaign is it not,
and bears strong resemblance to making
war; on the people does it not?
Our contemporary labors rnder the delu-
sion that the ''real bankers" are the st Ock-
holders, the merchants, doctors, farmers
and other solid men of the community"
Not bit of it. the average stakeholder of
bank knows about as much of banking as the
stockholders of shoe factory know about
shoe making. Their experience is confined
to drawing their dividends and voting for
such directors as the men who hold the
majority of the stock dictate. Ii the
Stockholders of moderate means" were
the ''real bankers !" this war on free silver
would never have been commenced by the
banking interest hand in hand with the
trusts and railroad corporations. Too
many of the ''real bankers are smart fell
lows on the order of "R. M. Hampton,
Cashier"
The News is greatly in error in thinking
anybody wants to ''make war on the
banks.' What the people object to is that
instead of attending to their legitimate
business they are forming into combina.
ton to control national legislation in their
own interest and against what the people
believe is their interest, and thereby are
s'm aking war" on the people.
THE FLFTIEIH ANNIVERSARY