Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1898-10-05

Bank, that had been established
fifty years before jackson became
President. 1t was established by
the revolutionary fathers when
continental money became worth
less. Jackson got it into his head
that the bank was corrupt and he
refused to recharter it. There
| were ten million dollars United
States money ON deposit in the
bank and without line of a war
rant of law, he ordered his hench-
men to take the deposits and scat
tered them among State banks,
and from that day, to the days
when the greenback was issued,
and the national banking system
was organized, to save the nation
from the grasp of the Democratic
Shareholders rebellion there was
not a word uttered by Democratic
leaders about State and national
money being deposited in State
banks.
| SILENT AS THE GRAVE.
They were as silent as the
grave. Their State treasurers used
the State money, and their Demo-
cratic County treasurers used the
county money. 1t is within the
recollection of men yet living, when
the treasurers of Juniata county
used the county funds, and the
treasury was SO reduced that cOun-
ty papers was dishOnOred and was
as heavily discounted as United
States paper was under President
Buchanan's administration, when
the paper went begging at II and
Is per cent. discount.
They are nice party to talk
about bank money. If they had
been continued in power the same
outrageous system of legalized rob-
berry and incOmpetency would pre-
vail.
ALL THAT WAS NECESSARY.
All that was necessary to start a
wild cat bank under the rule OF
the Democrats, when they saddled
the State with $1,000, 900 dollars
debt, was for the parties organiz-
ing the bank to go to the Legisla
tnre and secure a charter, which
was easily done by greasing the
fingers of the Dem ocratic com
mittee on banking. The wild cats
started almost in every county
All they had to do after they had
q charter was to get their bank
notes printed, open shop, and take
in deposits. The laws were loose
as the loosest Democrat wanted
them to be.
FEATHERED THEIR NEST.
The bankers feathered their
own nests. They bought prop
erty right and left, and deed
ed the property in the names of
their wives, and other members OF
their family, and when the times
got little hard and there was a
run on the banks, they shut the
doors and the note holders and the
depOsitors lost all and the bankers
lived nicely on the proceeds of the
property they had bought with
other peoples money.
Such in part was the result of
Democratic bank operations. How
do you like the history Of Demo
cratic banking. Think of that
history. But these are not all the
CHICKEN heads out of the holes in
the Democratic hat.
l FORGOT DAT HOLE.
They may well exclaim with
the deacon, "FOr de Lord boss, I
forgot dat hOle.' There is an
other head out of the hole in the
Democratic banking hat. The
Democratic wild cat banking law
required that each bank should
keep twenty five per cent. of their
issue in gold or silver coin in their
vault for the redemption of their
notes. That twenty five per cent.
was deemed a sufficient solid re-
serve fund to redeem all notes that
might be presented for redemption
in panic time. But while that
provision was made by Democratic
Legislatures there was another
chicken head out of the hole in the
Democratic hat, made by Demo
cratic Congress, and that head out
of the hole gave a chance to the
wild cat banks to play fast and