Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1824-06-15

then on hand, intbat institution, $4,000
in North Carolina notes, which had been
received, on deposlte, Tor The Treasurer,
and Which il had not yet been abie 10 /,
exchange, although no care had been
spared IN eHectins that object, since
some difficulties were understood 10 ef-
lecl the Bank" presented case OF this
kind. Al that ume, the Stale Bank OF
Norlh Carolina had not stopped pay
neni, although it did SO before the Sc
cre,ar,'s as communicated 10 the Tom
beekoe Bank. Ihe Secretary, having
called upon the State Bank 10 disclose
tie means OF paying such OF us notes as
bad b, en- received, on account ot the
Treasury; and, having been informed,
by HE bauk, hatE did posses the means,
aud would speedily apply hem To that
object, consented that these notes should
be transferred, iroul the credit OF the
Treasurer, IN the 'lon,beckbe Bank, TO
The credit OF the Treasurer, in the state
Bank oi. North Cstoina; and, by that
Bank, they were Afterwards paid, as were
ali the other claiuls, OF every kind, which
he Treasury had upon il.
/ The case of pc EdwardsviIle Bank,
added 10 the equitable considerations
witch ere prgseutedm thar oil the Tom
beckbe Bank ,Iwere considerations oil pro-
icy. The Communications. OF he Non.
! r. NJ. Johnson, made 90 behalf oil the
bank', aud referred 10 IN the Secretsry's
tesFr OF the I'd February, 1921, (see G..
I8. f66 which communication was made
0ib the CONCURRENCE, 81 Mr.. Edwards,
$ AID that The bank hado band upwards
To- $40 900, III notes ofthe Bank oil Ken
lucky, w.Ich had been received on ae-
count OF the Treasurer before the sos-
pension oispecie payments by the bank.
| FMS representation uelng corrobora ed
I by an exatnlna,ioD OF the bank satemen,s
and certificates, as appears by The Sec
reiarp's reportto the House OF the 27,h
April, l822; and there being then some
reason To apprehend awant Of punct ality
or OF good alth on the par, Of lhe Bank
OF Edwardosille, the Secretary consented
ithat these notes should be transferred at
ithe risk OF The bank, from the credit of
the Treasurer in that bank, 10 the credit
ofbe Treasurer m HE Rank of entucky,
! In demo- 50. the Secretary considered
hi1gse!i not aGly satisfying The demands,
u tquity, bnl promoting The pubic iD-
ltefesi: ioasnuch as The B INK OF K en-
tbcy, though il lad suspended the paw
mem Of sDecis. W IS known 10 rs solvent.
Although the notes thus transferred, have
not yet been o,l1. the mo,t positive and
tor,na axs,,ra,c.. Mas lreen s,f,sn. that the
dsbi is nsritcfly safe. and Will mos, Ger
tainiy bf ren9,d At M v,r, remote neriod.
M. Edwards mas fired an extract
from the Saers,.e.'s lelter at The lIth
nf Decenber. I8t8. ta,the President OF
The Planters and A6rchsna,' Bank Ct
Huntsville, as prsviog thar tie Sscreta-
rvs conduct ia reeei, nv ihese notes, Is
a, varlanro. vita hls. own interpretation,
of the obagatipns OF Those bahka ~ tnai
respect. But, by r.ierring 10 Inc ie'ter
Itself, it will Dc found that, ID presenting
the extract, an important omission mas
beea made, bywhlca The 5ecretsry's Cpl
nlon on the point Is yn,lly misre present.
ed. As quoted ~ Mr. Edwards, the
PASSAGE is in these words :---!n making
The Planters and Merchants Bank OF
Huntsville. a place OF deposile, al It's par
ticul.r solicitation, ltAwas expected tna
The lransfersoi iunds wnich Ii undertook
+, make. you'd be effected in funds tina,
circuiated a, oar, al the place where the
transfer was directed. As the Receiver
,ha1 Deen directed 10 reeeive he bi,.s OF
no banks which did no, DISCHARGE hem
;nSnee,e ON de maid. I, " ,s,exoected tna.
X. hank 90 NH he ans,vec4hie Tor the