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From the above table of facts and figures,
the following truths present themselves SO
plainly. that no one can overthrow them
-"they are there"


We find then, from this authority. that
the average price Of cotton in the United
States, from 1907 TO 1872 period of five
years Immediately prior to the expiration
of the old Bank of the United States 10
1911, to be the same as during the period Of
the five years following. during which there
was no Bank-the average price of each
period of five years being about l8 cents per
pound. During the next five years, or the
first five years after the Bank is chartered,
the average price of cotton runs upto % l-2
cents-being an increase of ) l-2 cents per
pound.


The first Bank of the United States was
chartered 1871. The price of cotton, as
the table shows, for the two years preceding
the charter Of the Bank, was A l-2 cents
The next year the Bank was chartered and
went into operation. and cotton rose to 81
cents pound-the next year to % cents
and kept rising for series of years The
average yearly price of cotton during that
twenty years existence of this Bank, is
SuOVH u udSE UCCu WitniIl Il traction Oh 20
cents per pound-and in no year lower than
l6 cents, whilst the two years Immediately
prior 10 the cha-tefing of the Bank I'VE
have no data 10 run farther backl it aveIa-
ged as low as IA l2 cents; nor did it fall as
low until 1912, when we had no National
Bank again. when down goes cotton to
IL l-2 cents. lower than ii had ever been.
We now speak ofthe period from 1911
to l6l7--during which we had no National
Bank. The average price of cotton. as the
table shows, for five yeors when we had no
Bank. from 1911 to 1917 was Is cents
the same as the flve years previous-show
ing no increase OF price. Here the new. or
late Bank was chartered--in l8l7-and the
average price Of cotton runs up during the
i've tirst years to 2s IL cents per pound
-Ars sss average yearly prize for tie acIsl: