The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-01-17
THE BANKING SYSTEM.


THE BANKING SYSTEM.
In our paper of the 18th of December last
I'VE published the 4th number of our essay
on the subject of banking generally. We
suspended the discussion of the subject, par
ticnlarly III that form, in order to pursue it,
through a path which by furnishing more
hight, led tothe same results, md by exam
ming what was said by the advocates of a
bank the power of which already seems TO
have Possessed itself ofthe strongest holds
Of government! and to have corrupted
great portion OF the population of our cities.
we have investigated what has been said in
support OF IT. as was due to the rights, we yet
enjoy as freemen, and the magnitude of the
subject.
We shall now take up the subject in a
point of view. which we conceive likely TO
present il with more clearness and fairness
TO the eyes ofthe country and to exhibit the
iallacy, by which an alarm ha . been at
tempted to be raised. and to demonstrate
that the pressure made upon the public,
which we pointed out some time ago, has oeen
artificial and wicked
The u. States Bank, have two agents
nSw engaged at Washington, we have pub
iished their memorial in our paper of Mon
day--they have given the following state
nient of their affairs in the last month, which
being the latest, we shall, where it affords.
make the basis OF remarks where it
does not, we shall resort to previous official
papers
Statement Of the affairs of the .. S. Bank.
December, 1910.
a. Discounts S 15,1o6. 586
B. Money due by various
Their banks in the several
states 1,134, o47
G. Bank notes of other banks
in heir hands 411,97o
ID. Specie in their vaults no
Dc) 5.4s2. s7s
z. Money deposited by pr-
vat, citizens in the bank
for safe keeping, December,
1910 4,312, so4
T. Notes of the U. S. Bank in
circulation 100000
II will be perceived, that these data, EN-
brace both the debts and credits of the bank,
to certain extent, but are neither SO expi
Cit as TO admit an easy comprehension of
their situation, to men who are not CONVEX.
SAINT in accounts nor so full as to be suffici-
ent alone: but we must observe, that we
have only taken it from a newspaper
which advocates the bank, and gives this
intiecisive statement extract OF IA let
ter.
thus the article n. may properly be ex
hibted as sum for which the directors who
have lent it, are personally responsible, i
case of failure ofpayment, or it may be sta :
ted to their credit as so much due them by
responsible persons, and thus in relation to
the public it may be considered as embrac
ing sum sufficient to settle the whole con,
Germs OF the bank. and to certify their SOL
vency; It being both the amount OF debt
due to them, and debt which they NAV have
10 pay.
The items B. G. and d. must be added to
this amount, being either money in fact, or
money which they can apply TO discharge
any claims upon them to the full amount
10 these we must add the stock in their hands
T.. as per the report of2 April last, which
would make their credit account stand as
follows
United STATES Bank. in account 7uith The
Public.
DR..
To their capital payable to the
stockholders, 100000
To deposits, T.. 43122o4
L % notes in circulation, +. S 900 600
1892 ,204
Balance in favor of the bank, 4714235
Substantial resources of the
bank, 81 O9s. 4Ao
CIR.
4. Private individuals ndebt-
ed to the bank for discount, 15106.796
j. Money due by other banks,
TO inc United states Banks, 1,124,O57
Z. Bank notes, by other banks
in hand, al. go
%. specie in their vaults, 5482 600
j.. Public stock in theirhand 1411 627
Reports Of ID March, 1909, Sd
April 1910, 100000
"a O26 40
These statements arc taken from data,
furnished by thc mseives. It is very true,
that 10 all the statements given, there ap-
pears ~ m"ch variation from an exact me
tnod Of furnishing the particulars, ana such
a. isnot we'll adapted to give fair in,pressi
ors SO the reader, nor 70 Induce ver1 rrea,