People's party paper. [volume] (Atlanta, Ga.) 1891-1898, 1897-09-17
HAVE PLENTY MONEY.
Such is the Boast of Our Ma
tionaI Banks.
SECURED BY THE CLEVELAND BONDS.
Ready to Handle the Wheat and Grain
Crops on Money Practically Given
Them by the Government.
Our National Peril.

Our National Peril.
The Comptroller of the Currency's
compiled report of the national banks
was out July 30 and George M. Coffin,
assistant comptroller, to Cincinnati
Enquirer reporter August 25, said:
1.-THE figures showing total resources
and liabilities of all the national banks
on July %, 1897, just compiled, are full
of strength and promise They show
total resources amounting to $685.
40S, 053, the greatest amount ever
reached in the history of the system,
the nearest approach to this condition
being total of SO, $40 O94, s97 on Sept.
80, 1892. .r,s
1.-THE item largely contributing to
the grand aggregate of their liabilities
is that of individual deposits, which
on July %, 1897, stood at 81, no, 45O, 563,
the highest point ever touched by this
item, the next highest having been ST.
766 422 983 on Septembe 80. 1 s92.
| LIS olAOW4AR 10 oil UAC uuOIC
ing because it is made after the severe
liquidation of the past four years,
which has reduced the number of ma
tional banks from $3.50, high water
mark on May 4, 1883, to 500 on July
30, 1897.
TN the item of loans and discounts
the highest point ever touched WIS
80, 161, 4O1, s5s on May A, 1898, just pre-.
ceding the panic of thaty Against
this loans and discounts on July %.
1897, were $l,977, 553,71O but actual
cash in bank on July %, 1897, WIS
s41S 51s,621, against but 1922, e6S, 3O4 on
May 4, 1898, when loaus were most
greatly extended.
GAS to the loans of the national banks
expanded about s43, 100000 between
May IA and July %, 1897, it is nearly
certain that this movement has con-
tinued during the past month.
'But the meaning of the figures is
that the national banks, as a whole,
were never stronger and better pre-
pared in cash resources to furnish all
facilities for moving theseg'eat wheat
and cotton crops that ars nowF coming
to the markets of the world"
June &c Comptroller Eekles,. in lets
ter to the editor of this paper, showed
that the national banks hadl alre,sv
taken out S53 $50, $50 on the ne, oleve-
land bonds. When it is known that
this money is given to them by the
government at IN annual tax of only 1
per cent, it is easy to discover the
source of their boosted 'power" and
financial strength
No wonder they are ready to handle
the great wheat and cotton crop. The
national banks now are practically the
government They make and unmake
prosperity, control both dominant par
ties and make and unmake presidents
and elect both houses of congress
Previous to the beginning of the
panic in 1890 and 1898 they had with
drawn 5000, 900, 900 of their currency
from circulation (see Comptroller
Lacy's report, 1891 P. A s. 49, prepar-
atory to changing the large volume OF
nearly matured bonds for new ones
and 20 year lease of new banking
life. These 1862, OOO, 1000 new bonds they
obtained from the administration of
Cleveland by as corrupt and traitor
Gus deal as ever the enemies of gov
eminent were guilty.
The total bonded debt now is $s47,-
900, 900 and these bonds are practically
all in the control of the national bank
ing conspiracy and are available for an
increase of bank currency. This gives
the national banks direct control if
necessary by issue of about $500, 900, 900
or one-half of the volume of the ma
TONS money, and with their deposits
added they control perhaps two-thirds
of the whole volume of the nations
money.
Now here is a self-evident truth that
it is high time our business men were
learning. The whole volume of ma
TONS money, gold, silver or paper
money, because it affords the pricing
opportunity to sell property on the
markets, is the standard of value. Let
it be remembered that national bank
paper money will initiate the currency
as we'll as free coinage of silver, and
do it much quicker.
Of what use is all this talk of sin
gle gold standard or double standard
when we really have a national bank
paper standard. Do you realize our
national peril under such conditions?
Referendum.