New York $30,553,020 $39,182,819 Pennsylvania 16,384,643 27,689,504 New Jersey 3,927,535 8,172,398 ---------- ---------- $50,865,198 $75,044,721 50,865,198 ---------- Total increase in New York, Pennsylvania, and New Jersey, $24,179,523 Being over forty-seven per cent. _Aggregate Increase in the Principal Eastern States._ 1862. 1863. New England $39,306,729 $65,516,155 New York, Pennsylvania, and New Jersey 50,865,198 75,044,721 ---------- ---------- $90,171,927 $140,560,876 90,171,927 ---------- Aggregate increase in Eastern States $50,388,949 Being over fifty-five and three fourths per cent. These tables speak. They show the range within which the State banks undertake to operate, and their consequent interference with the national system. If it be said that in certain parts of the country, as in New England and New York, the State banks have performed good service, I reply, that, even admitting all that is claimed, the service is local and incomplete. It does not embrace the West. The present endeavor is to provide a remedy for this trouble by a comprehensive national system, discharging the function performed by the State banks, and embracing the whole country. It is called national because it belongs to the nation, and not to any particular State, and because its origin, aim, and inspiration are all national. It is conceived in no hostility or unkindness to the State banks, but in a patriotic purpose to do what can be done to secure what all desire,--a national currency. The State banks will be welcome to a place in the system, like State troops coming forward for the defence of the Republic; but they cannot be tolerated, if they stand aloof, or refuse to take the post assigned them. At a moment of peril, when the Government is bending all its energies to save the national currency, a mutiny among State banks will be hardly less disastrous than a mutiny among State troops. Every murmur or mutter of such mutiny ought to be repressed at once. All should be summoned to perfect and harmonious coöperation in that cause which embraces the whole country, in every walk of life, whether military or civil.