19578. First National Bank (Washington, PA)

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BIG NATIONAL BANK JOB. A Bill of Financial Abominations-Oredit of the Government Loaned to Wildoat Corporations-List of National Banks That Have Already Failed or Gone Into Voluntary Liquidation-Deposits in Na tional Banks-Depositors Lossos. WASHINGTON, May 2, 1810. General Garfield has reported from the Committee which Banking and Currency a bill (No. 1,900) on that certain national bank associations may provides into our national Treasury $104,500,000 bonds and and repay therefor $199,500,000 in gold-bearing of celve currency. The bill, in fact, makes a free gift pays $95,000,000 to certain national bank managers, securities them $4,702,500 per annum interest on in the (greenbacks) that are now acceptably placed true market free or interest, and, in order to make upon the old saying that "the devil always heaps banklargest pile,' loans the aforesaid national without ing the associations the credit of the government limit. of the worst features of the numerous that bills are One increasing national bank subsidies has for pressed upon the attention of Congress in effect being been noticed. They all provided shall loan scarcely the government of the United States associations that credit without limit, to any and all bank franchise. its manage to secure a national men or the that the managers are solid business all have the Whether sharpers out of the penitentiary, alike. A worst of the United States government in this city credit concern like the one that failed the soundwildcat ago is served as generously as it works:few and this is the into bank in association pays A Treasury and receives $110,000 est national national years New bank York; currency, way therefor $110,000 $210, are of the in gold-bearing bonds and The bonds General Spinner 000 the former and 100,000 of the latter. for safe keeping and on deposited his convenie with nce when paying the bank interest in course for The currency is used by the may be. The them. bus iness, whatever bank, that its circulation of concern regular being secured a national beyond pera bonds venture deposite by national endorsed government and and Treasurer having at Washington degree of to with the United States of course enjoys obtaining, a primen secure circulation, credit and opportunity of could perhaps popularity, vate deposite that their the same "national" franchise. matter Being of be must course good never "national have bank, ithout most people and safe suppose place to deposit, and act accordingly. THE CONSEQUENCES. receiving anything Suppose sitors. the bank The falls billholders before its circulation are secured, to and the from when depo the association Treasurer returns it gets its bonds as in has return, been and the United no interes State suffers loss. banks But in suppose, this city. New Orleans by vircase and other with places, national the bank character, falls halfa after getting, million dollars, more ture of or its less, national in of such depositors' cases, mone the lose noteholders their all, come and the off nagera without or course, loss; the retire depositors to enjoy their of sharpers plunder. who can may subsidy bank Under ma the Garfield form bill a any national get banking and go at associ- once ation, raise $50,000 secure their unwary share of depos positors to safe ruin. deposito. sources; to work rule enticing national banks entirel are not as on their because own of character. ries As as houses but thousands that depend deposit Congress in them has Leteve no right government. their thus loan tional' the credit of bottom. the Let depositors be induced to be tub to stand Judgment. on its own They should "national" not character, their own banks having kind. deposit with responsibility any but without NATIONAL BA NKS EVER by FAIL! the Treasury that from The impre DO reasion national has been banks created rarely the records or never the banks ring have organs Department refore complied list and of the for which national receivers that Treasury have already failed Hereit C. have First been Nat tional appointed. National Bank Bank, of Attica, of Washington, Franklin. N.Y. Pa D. Merchants' Venango National Bank of Bank, Medin of Memphis, N.Y. Tenn. Tennessee First National National Bank, of Ala. La. National and Farmers Citizens' First First National National Unadilla Bank Bank Bank, of New National of Unadilla, Orleans, Bank, N. of BrookYork city. lyn,N.Y Croton National Bank, of Bethol, of New Conn. Iowa. First National Bank of Keokuk First National Bank sburg, Miss. National in volung Nati nal Bank Bank of of national Rockford banks III. are United tary The First liquidation following in the named but Treasury have not for redemption deposited Ind. of outstanding States notes National irculation:- Bank of Rochester, Indianapolis, N.Y. Fourth Union Bank of of Leonardsville, Va. Ind First National Farmers' National National Bank Bank of Bank the Metropolis, of Richmond Washington, D. National National Bank of of Providence, Elkhart, Pa. First First National Bank Bank of Newton, Dubuque, Mass. Iowa. National First National State Bank Bank of of cincinnati, New Uim, Minn. Ohio First Ohio National National National Bank Bank of of Blunton, Kingston, Ind. . N.Y. Va. Richmond, First First National Exchange Bank Bank Skaneateles.ru of N.Y. Pa. First National National Bank Bank of of Titusville, Downingtow Pa. Wis. First National National Bank Bank, of of Appleton, First Appleton Bank National of New Brunswick Ohio. N. J. National Bank of Chyyahogt Falls N.Y. First National National Bank of of Watertown, Iowa. Second First National National Bank Bank and of Farmers Des Moine3, Bank of Albany, N First National Second National Mechanics Steubenville, Ohio. Bank of of Plumer, Pa. First National National Bank Bank of Dorchester, Danville, Iowa. Mass. First First National National Bank Bank Mechanics of Oskaloosa, National Bank of Troy, First Merchants and of Wheeling, W. Va. N National Savings Bank Bank of Marion, of Detroi troit, Ohio Mich. North First National National Bank Insurance of Lansin Bank America New York city. National National Bank Bank of of Ciyde, Me. First National Bank of HallowYork city. New First National National Bank of avannah, city. Ga. Savanual Pacific Froatburg; Md. Grocers' National Bank Bank of La George etown, in D. volun o First National bank are States National First Bank named national deposited United of our The following and have for the redemption tary notes in the circulation:- Bank of Columbia, Carondelet Mo. Mo. standing ational First First National National Bank Bank of Jaekson, of Waukesba, Miss. Wis. Farmers' First National Bank Bank of of of Wis. Ohio. of First National Bank Worcester, names These tional Providation. First First Com National commercial lists Bank banks of as South will that be have seen, already the failed or gone sixty-four into voluntary THE show the number of character unfortu- the The records induced do not by become the depositors, It must amount or indinate persons instituti itutions of their to losses. Not only were instances, of gregate these amount million dollar but, deposito in some ositor, and, govern. conment en required segen the ntly, nation deposits loser in in nationa national the shape of aggrega to very to many tors suirenes a though partial for security vidual ional gov of large sums; banks a bonds deposited