Delaware gazette and peninsula advertiser. [volume] (Wilmington, Del.) 1814-1820, 1818-12-30

which We have already extracted all the
tabular statement which appeared to be
materially Important:
hahk n The U. $. Nor. ii. 1918.
Sir: have the honor to transmit the
statements required by tie resolution Of
the Senate of the 18th Of April, copy
'of which you were pleased to commun
cate in your letter of the 18th of June
last.
The statements are numbered liz the
order of the several numbers of the re-
solution, and the details and accompany
ling remarks, II is considered, will render
them perfectly Ineligible.
In respect to the payments, made on
accoun, Of the cash part of the second
and third instruments Of the capital Of tbs
bank, it is impossible to designate the
amour, actually paid in coin.
When the second inslalnent became
due, the bank Of the United States was
| in operation, and had issued large a.
mount of its notes: bills were discounted
and passed to the credit OF individuals
and specie received on dcposite there
fore, tie notes Of, and checks on the
bank, were equivalent to specie, and
would have drawn out the specie 10 pay
the cash part Of the instalments, if the
literal Formally Of paving in specie had
been required. The general course
pursued by the subscribers was 10 de-
poslle the coin and notes in the bank, and
draw heck for the precise araount OF
the cash part Of the instalment.
The banks in the principal cities re-
sumed specie payments on the goth Feb
uary, 1917, and the third instalmenl be-
came due on the ! ST of July following :
their notes were, of course, received in
/
all payments due to the bank ard to the
revenue, and also on deposit, Tor which
specie was liable to be drawn; Of course'
The notes Of, and checks on the Bank
of the United States, and the notes OF
the banks actually paying specie, were
Extraordinarily received, with gold and
silver. il payment of 1.-THE cash part of this
instalment.
. In ,he statement exhibiting tho debts
due TO the bank, and its Offices, the amount
lor bills iscuunted bears an under pro.
Inotti IN - H. - alive trat {, and mpor-
lance of the respective places; but the
Efforts Of the board oi directors TO pro-
duce more equal appor'ionment have
,een counteracted by circumstances
which they could lot control, the Origin
|or which NAY be referred to the state Of
Iihe currency, and Of domestic exchange
at the period Immediately preceding the
establishment OF the bank the conse
Iouences of which are yet visible in the
monied operations ofthose places.
The funds Of the cities east OF Ph!.a
delphit, derived from the sale OF then
Iinported commodities, had been suffer
led 10 accumulate during the late war,ant
|untl the establishment OF the bank
: chiefly in I've cities Of Philadelphia ant
: Baltimore, to all immense amount, IN an
icipation Of that event, and the prospect
: entertained Of tire consequent improve
men, in the currency, The public RIVE
! me had also accumulated in the middl
and western sections Of the U. States, t
1.-The amount of many millions, PARTICULAR
lin the Banks of Philadelphia, Baltin re
and the District OF Columbia; and III
. banks of those places were greatly II
deb.ed to those to the eastward OF Their
respectively.
Shortly after this period, as you wi
recoilec,, sir, the banks Of New Yori
: Philadelphia. Baltimore, and Virgins
eagreed to resume specie payment on tn
), goth Of February, under special agr
ment with the Bank of the United State
which, in order to bring about this deslr;
,'Ible and indispensable event, engaged l
a.lcredi, and resources in protecting tt
= debtors banks, and in liquidatlng ths'
y immense balances, by actual remittance