The Caucasian. (Clinton, N.C.) 188?-1913, 1897-01-28
FOR GOVERNMENT BANKS.
STATISTICS FRon COMPTROLLER
Ecxets RePoaT SHOW THE IN
SECURITY OF QUA NATIONAL
BANKING sYSrEn.

1Dg y Os tanst lnsfituuoo-ihs - atAA
Plan Of B.akisg Has B.sn saee.s.fa,iy
Op-va.~d in . Fsssign csunsF, Ito safe
tyte P.srso. and s.sisfsessry kesuits-
Phiiadei phia Item
The plain reasons Why the govern
ment should x.@pd the Treasury De-
partuaent to include the opening no
If branch banks Of discount in ali
parts Of the country TO take the
place Of all other such banks, Ma
'ional. State and private, are mo-
mentous.
Comptroller Eckeis' report for the
year ending November 1,', 1896,
shows that there were twen,y-seven
failure. OF National banks in tina.
lime. II We deduct four for the two
"a It months Of 1855 and add fifteen
failures for the last two months Of
1896, we have thirty eight such fail
ur-s for 1896
This, iu itself, shows the insecurity
Of the National banking system to
provide for either safe places of de-
posit or the furnishing Of money in
the shape Of discounted paper in all
parts Of the country. 1t surely
hould not be necessary for an sob
,ct lesson" the size of the bank fail
ures in New York in 1878, wbeu--is
We recollect ,ight-all the banks but
one suspended payments, before
some relief is given our business
pu uolic, and. by consequence, our
wage earners. which includes pretty
much every body.
But the above only includes the
National; fer the year ending No
vember l, 1896, there were ll0 sus-
pensions of other banks and trust
com mpanies, nine Of which were Saw
inps Banks.
From the beginning Of the law es-
tablishing Nationals, from 1863 up to
November l, 1896, there have been
$50 failures, or an average-the
Comptroller says--of ten a year.
This, compared with the thirty-eigh,
failures for tho year 1896. shows that
The system is growing vastly worse
as a means Of safety to depositors
under the conditions under which We
are laboring.
Out of these failures, from the
causes assigned for failure. by ia,
rhe greater part are confessed to be
due to money striugency, Or such
causes as are part Of that more OF
less annual trouble.
Money stringen cies would foreve,
end under a government branch
bank Of discount plan. Likewise
would all bank failures end, and the
governments solvency would be the
sol vency Of the banks.
Rascality is rampant enough uu.
der the present system. It would
be greatly decreased under the
stricter methods in vogue in ou,
Treasury Department.; in all proha
biiity q government system would
prevent pretty much all rascality
Mr.. Eckels says that nearly every
theory evolved in connection will
the business of banking has beer
tried and it's development attem1 tee
since banking began under the pres
ent government. he is in error or
the largest point Of all; branch bank
ing at cost on the mutual plan, her,
advocate d, has never been tried, ex
cept in a minor degree by our build
ing and loan associations, which are
not included in the Comptroller
Department. But, abroad, the mu
tual plan Of banking in behalf Of tn
people has been in successful opera
ton for the past forty years, ans
there it has proved itself. by incon
trovertible statistics, to be the saf
est, the most satisfactory, and tn,
most beneficial to those concerned o
any other extent.
The plans that have been tried il
this country have been in behalf o
usurers. Our two Federal bank
were mere money-making machine
for private stockho lders. and in n
sense were they mutual banks, wher
the banks are divided between tn
depositors.
The number of failures Of a.
banks other than Nationals sine
1868 and no to November l. 1896
is put at 234. involving over 1920
900 900 of liabilities.
The number Of failures of q
banks since our Comment began
not stated, but it is something owe
whelmlng in its enormity, when it
!, considered that it is all perfect
r needless.
J The delays put upon depositors b
J these failures to such portions {
+. their deposits as they may be fortl
: nate enough to finally get. show tb.
an average of four and three fourth
:. years was consumed IN the case .
the 25i banks other than Nations
D which failed between 1868 aud tt
= date of the report. Some of the'
: court winding-ups, took twenty tv
years and twenty-one years of tim
}. and from that down to the averas
y given; showing that should OPT
g the publlc's eyes on his head.
fl The Comptroller says that tt
d problem of banking is excet ding
d complex.
If he had said that cit is excee
); inely cou4plex to sustain usury
: busine So while st the same tir
j. satisfy the needs Of the country,'
;. wo uld have struck nearer the fac
II There is no complexity the m
Y ment the Government does the ban
ing on q mutual basis at cost rat
|e for the use Of money. It then 1
becomes as easy as A B C. But t
trouble is our usurers run the {
~ partment, and not the people,
u very foolish condition of thins
"a considering that the people are t
real rulers of the Department.
- A Train Hold Up.
d ATLANTA, Ca, Jan. 21.-A spec
to the Constitution from Colu umb,
,e Miss, says: 1.-The west bound o.
ID sepger train on the Southern R.
20 road was held up near Berry. Al
e: about z o'clock tonight, the robb
"a stealing several valuable expr'
~ - packages and two or three jugs
\. liquor. This is the same place VIII
at a similar robbery was commit
| nooop,h hes. 1G.h Loot >nI - - o,