The midland journal. (Rising Sun, Md.) 1885-1947, 1899-03-24
The Banks of the Future.

Opening one of the morning papers a
short while ago The following 'scare
head" announcement advertised the
nature of the article that followed
BANKS TO COMBINE
NEGOTIATIONS IN PROGRESS TO UNITE THE TRAD
ERs CONTINENTAL AND PEOPLES.
THE NEW INSTITUTION TO HAVE CAPITAL OF
100000
The Movement Is In Line With Similar Steps
Taken In Other Large Cities.
From the body of the article we quote
as follows:
1.-THE idea is to combine the interests of
the three banks SO as to form new inan-
cial institution, which could offer all the
advantage of the national banking act to
the commercial interests of the city, and
and be of sufficient magnitude to partici-
pate i'll the larger financial transactions of
syndicates so far as consistent with sound
banking. The movement is i'll line with
similar steps taken in other large cities
where the multiplication of trust COM
panies have made such inroads upon the
business of the smaller national banks as
to cut down their profits"
This movement is in our slow and easy
going city of Baltimore. This is but a
Flea bite" to similar movements in New
York, Chicago and other large cities. AS
the industrials combine into trusts the
banks, to be able to meet the greatly in
creased demands for large loans which
the industrial trusts create, are also FORM
ing bank trusts, which, like the indus
trials wipe out the small concerns i'll their
lines, will smother the small banks.
If the great New York bankers can get
their schemes thro' Congress. allowing
them to establish branch banks, the
country banks would soon be wiped out.
The great city trust banks would refuse 10
clear or honor checks from country or
village banks, other than those coming
through their branches, and it would soon
be dennis" with the village banks which
now exist.
The great New York or Wall street
banks, have, as conditions now are, the
business of the country "by the leg"
while they can command subservient
administration at Washington, but if they
can get the measures through Congress
which they are working for, and which
banker Gage, Secretary of the Treasury,
is doing his level best to accomplish, they
will have it by both legs, SO to speak.
If the money power can succeed in
trustifying the banks, its power would be
far greater than it is in shaping the bug
mess of the country, and the government
also, in its interest. 1t would be able to
destroy all the little country banks as the
industrial trusts have strangled all small
concerns. The lever by which the money
power exerts its greatest force is by con-
tracing the circulating medium. The
conspirators have succeeded in stopping
the coinage of silver aud the future issue
of legal-tendeis by the government and
are now working for the destruction of all
the government money in existence ex-
cept gold. The greenbacks, legal-tender
SHERMAN notes. silver dollars and silver
certificates that have been issued and
coined are still in existence and add about
$500, 900, 900 as all obstacle to the COM
plete corner on money which they must
secure to be entire masters of business,
people and government.
This policy of making money scarce,
contracting the currency, is what the
shylocks call their gold standard. No
other legal-tender money but gold, they
CAN readily corner that, but while $780,
900, 900 of other legal tender in the coun-
try remains the job is much harder to
accomplish.
Were the United States minis open to
the free coinage of silver the conspirators
would despair of accomplishing the pur-
pose dearest to their hearts. The steady
increase in the volume of circulating
legal-tender silver would check falling
prices, revive agriculture and all collat-
eral business depending upon that. Pros
perity in rural parts of the country would
insure the country banks an increased
prosperity, and merchants, mechanics
and laborers would all be participators in
the better conditions. The property or
wealth of the country would not then
continue to slip steadily into the hands Of
the few but would be more universally
enjoyed by the bulk of the people whose
labor creates it.
If the mass of the people cannot under
stand the money question, and they
say they cannot-they at least understand
that they are driving to bankruptcy and
ruin under the gold standard and are
ready we hope to be advised by those who
have studied the question of finance, and
will turn from the golden serpent which
has so long charmed but to devour them.
The Appetite of Goat
Te a-,;ad r., III ,~o1.