Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1816-04-20

sc. SSi So2
Bills discounted Qis.iOs
Total --3 O35. COS
Thus If a3@esri that t',1ugh lies hant arc cur
t.''inr accommodation noes and r~ircti,. husincss
nntcsrqnsi ~ point OF security TO any in the Ui ed
States, they have been tadiqg with and Ira wing IN
terest upon about $50 per cent more than IN eir CO.
phai-tlie Penn'ylvauin hank a little above. aid tie
other 'ittle below thar proportion.
tthc above pei'o.I. Wien they were trailing TO
the amou' of above 9.nop 200 Of dollars they had
between them only eos, i6j liars IL SPECIE, i cud-
ing the branches of tho b < ofpenes, lrania
IL is not Their foe very extraordinary ,hat they
make, eN;iaNag"nt dividends. The bank of Penn
sylvania divded Is! per cent last year, includi =
surTlSs or extra di'dcni Of -.
From tins view Of ;hr subj c., il is oyic,s rs
have stated, th't ib2uk aot have bren too album
dan', 1t arose from the purchase of this s'o,k Il
fellows, that the plain AID simple remedy would
have been u absorb ap"' tio0 them hv dspos,g of
1t, instead OF par.lixino thu trade aud commerce of
the city BY curt .ilrgd III cou L..
l Row ask f"w s.'r,u and solemn questions
he crisis 10 which are driv n demands decision
and plain dcasg.
HoTc lonY viii the hanke, fr ,he SIX, Of AZ a,lli-
tonai one ~ two three per cent. per an,,',m,
GALAXY disr gard the ruin Tia present stem ere
a'esf How long will they TN the fame Of prhlck
Indignation, which cannot be sloth red on tbs plain
development Of destructive system whereby the
a:erand;zement Ola few stockholders of ba Isl
How long vii the puhlick submit t. this state of
u'inss VIII the banks lrive th.m Ia the q, sner-
atc mea'rT 'f,niug them Tor specie as is every day
done IL New Y0r,
couli 90 on with the q,tousote t0nle1,. IN 4
grent length. lhopr--I prav Col that the direc
tors o toe banks will t-ke these matters into their
most $ ions consicr4ton--tia instead Of 1, eiines
OF resentment towards the writer for Il ri q tn
p'sc" BET - them III S" solemn truthq, tiev will
nr~apr Il Il. frr,- -.
their hair and pers"cutoa, points cut 10 them "a,
course Which every motive of rororr Justice I'M
mants, a'd pub ic shirt loudly ,ss UPON then, Il,
steer--and to which it i.npcssibc t. find any Oh.
Icctinn bur wh9f arises rom 81 e inter ST
y miserable d-lusion pre~als on the sYhieet Of
accommo alton not = Mqry dir cto~s oc the diff.r
ent bank, some If whom have Themselves made
fortunes BY credits % this scl"Htp7, not looking
back 10 their ary brgin~i =, violently dcclaim p
gurs' them rs pernicious ahIsc, that ought to he
eraI i Gated st"sether And some ofthe b.nts, pa
uruia ~ thr ba o. North America ard the Far
'mers' and Mecha' icks' bank. Lav laid the Az. tn
the root IN order to remnve them. The bank Of
Pennsylvania has recently adopted tn. same mea-
SIRE, anddrmanded by written notic", t. mt.
ct all accommodation notes, large and small.
This whole train ofideas is erroneous Its onor-
a'ion is highly pernicinus. This will appear obvi-
Gus to the mos superficial o! s"rve~, who considers
how ls~gea portion of the community carrot nossi-
bly, have acc IS to the banks in any other olrn tan
"S'oi4IloN"uO1 paper. j Or Iii cC-'O'TtiS OF the
Business done IN tie city, there notes rccc;v
ed that are ds-onutahlc at bark For. be DIV goods
AID hardware sold TO tie country storekeerers; for
the merchandise exported IN the soutbern states
and tor very large PORTO oFO-r foreign exports
there not ten dollars IL a. q uaand f witch
notes ofth description are received. Thus 1t one
stroke, if accommodation notes are aunilated, the
vi ole nass NJ merchants who slpclv the country
as respectable q bcily as aTy in the tied States
Toy their numbers, have every avenue to Ba. ere
di' closed agsi st them.
Moreover, " hat is 10 b come ofthe numer- u rrl
important classes of adesyoen the carpenters ma
sons, 81 OcmaSers, t,ilO =, smiths, printers, ,o.
binders sad .ers. ca rs's, sc. Ne. &r. T ev = e
ly receive notes fer their work. Whnn they do re-
ceirc item, thev are At such distant dates as To he
iuad.ois-ah a. Bank. To meet their current en-
gagemrnts, they would be OBJ Scd to have al of
them discounted BY usurer7, UriC.s iheV ceud avail
themselves Of accom- nlc.l9tion not.s st Back
whereby t'ev would he enabled 20 avail, the arrival
at matpritv o. their business notes.
Can system lac sound which goes to dispense all
tie community, and entirely to deha~ from il the
most numerous and india IRON. portion Of our ot-
rs?
The banks Jnay IN tl.i- suii-cf derive useful
Lesson from the COCO rscoiri.d ofa man wlio, when
~ lip' state ollealth, was desrous Of improving
lis Constitution, ard put hiYnselfn the hand, Of a
quack doctor, who soon closed his career The Gy-
j. orlered To- his torab stone the following al
moniory ep.iaph -
." zca8 rel. I zcouii be better. Hire
J Qn."
From lie first establishment o. Larks in this city.
accommodation notes have been encouraged. Tt,
banks haze prossered under the system The citg
anil its CITIZENS hsve pgrspared The s'nto has pros
pered. Let us MT az "a Try Financial Q,iac'c-ry
and inuoTsre upou the established order nj thirgs
wh'eh has been found 81 e.nircn'ly beneficial
The whole of tie rc;tso-iyg in this essay applies
with eq"ai 70 C. 90 the case Of Hcw-Nor,, Bslti-
rnore, ans, the Dstrict O. Cournbia, wlrre the o.
perations Of the banks are uunded bv the great a.
mount Of stock thev hold. To the news-printersin
those paccs /, IS therefore subrVes, whethera re-
publication or It might not be ady'tabe.
have before me staten nat of ne si'uation or
seven bnn,s in the District Of Columbia nv yhcl
appears nat nearly half their ,pals are inves'c4
in government stock, aud that they are trailing al
wosi '.u1drcd per cent beyond thosc capitals.
Capital Of scven banks il. tie
district Of Columbia 5,32i ,s97
Gorcrnmc7t Stocks, ! 1858
Bills Discounted, 4,S30O5i
----6, 2S5 sd
Specie, 2g1,65t.i
Notes in cire',l'ion, 20ni,875
Due 10 Deposilors, 2585&
-.-7 10 80
NJ. Ca REY.
ArrT1t
- - - - z.-,1.,- ss,sss -1ssTsssT--.
Bovt9a Giu8s D4aHyfacforv.
TgT!IF Projectors Of tie Fusion crd
x Cacirgcsd Cqr, .NcrufTe,ie', inform DE public
g l. rf..rN lI. f, 81