Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1899-01-26
AS TO STATE BANKS.

The Raleigh News & Observer
of this morning, in it's "Under
The Dome comments, contains
the following pertinent reference
to a vital question with all our
people,
"The stockholders aud officers
of State banks feel that this
Legislature ought to repesl all
laws that impose burdens upon
State banks which do not bear
equally upon national banks.
They say that the present legis~
lation has a tendency to make it
to the interest of State banks to
become national banks, a thing
not to be desired. Speaking of
this. one of the most successful
cashiers of a State bank in North
Carolina said yesterday; ''Ihat
| there is in American finances a
strong under-current flowing
from the national Republican
source, toward the gold standard,
must be admitted by the most
superficial observer; yet the
Democratic party of North Caro-
lima, standing upon a silver plat
form, seems to be inconsistently
and unconsciously drifting with
this tide. Adverse legislation, or
a failure to remedy our present
laws applicable to State banks,
must necessarily force them into
the national banking system.
And every one thus driven from
State banks adds as many links
to the chain of gold which binds
the Republican party and its
trusts and monopolies. In view
of these facts, should our Legis~
lature allow to remain upon our
statute books any discriminating
laws against her own institutions
such as the franchise or license
tax? "a penalty for loaning money
to those of her citizens who need
| it?) The earnest attention of leg
islators ought to be called to this
and other unjust and discrimis
mating legislatlon."-
The financial question is an
ever present and perplexing one
alike to individuals and the body
polite, and the fountain head of
the great stream and ramifying
rivulets of finance is the banking
system. Legislation on banking,
therefore, demands the most care
full study and attention on the
part Of our law makers, and the
courage of their convictions when
their duty confronts them.
For instance-and as a pointer,
the United States totally ignores
State banks, and in the manipu-
lation of it's finances deals solely
with national banks. The State,
therefore, should in every case,
where it is possible, deal only
with the banks of it's own crea-
ton. In a word the legislature
should foster the State banks in
every way possible.
In various ways this can be
done. First of all, the State and
county finds should be deposited
in State banks, under legislative
requirement. This is not only
right, but it is good business.
The State banks are under State
supervision. The State treasurer
has the right at any and all times
to investigate their books and
vaults and pass upon their condi-
ton and be sure that the State
and county funds in their keeping
are absolutely safe: and the home
banks themselves are strengthened
by having the volume of their de-
posits greatly increased. But the
State treasurer has no right what
ever to go into a national bank,
no matter what his deposits
therein may be, and demand to
see the books and investigate it's
condition.
Moreover, national banks do
not pay the State the license tax,
complained of above, as required
of State banks, and this is an
other reason why the State should
make the State banks, by legisla-
tive enactment, the repositories
Of It's funds.
These views are expressed in
justice to the State Banks and in
behalf of the ssfair thing" and not
that we have any aversion WHAT