Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1830-04-16

OI the whqe, tue conmntce aie oI ono ta ,he p,.,,,
se Of the c1ueney IS safe os the community, aud ennen
useia TO The Govamtnc that cor years past. been
improving ny the Infusion into the circulating iium OF
larger POTION Of eoln aud the substitution the paper gilmore
solvent banks IN lieu OF those inferior credit; that s
To the progress OF existing laws and nsns the partial in
convenencc which Std remain, of the paper the
cmeunsunses they deem prudent abstain from all legs
laoo 10 abide by tie practical good which the country
aud To pan nothing TO hazard by dout,iul experiments
he emnmhre submit fur the inflammation OF the Senate
certain Questions proinunted the President of e Bank
'he United States, together with his thereto and
Gocuinen furnished by that officer showing the rates of ex
change at which drafts daun by the Bank OF the O. Slate
and ITS officers of discount and epose aud ak to be d,
charged ifo'n the further consideration 1.-THE subject
Questions SubnHicd To he President Of the Bank ot
ne United States wih has GAsiccrs.
Question l. When the bunk into operation, was moi
better than Baltimore?
An'wer Ph:adclpha racr was II per cent worse than
than Baltimore
=. Were the State Banks indebted To the Govern
men IN large sums which they could have paid SCUM,
currency II So what amount Aud did not the bank u
many instances assume those Debts and pay them Souu,
currency; So to wha' amount aHd indulge those bank.
was convenient for them pay! aud did the bank los,
money by such Indulgence.
a. In the year 1917 aud 1913, tile Government transferred
70 me hank at Philadelphia, from the state institutions
S7l7Sll9 ~, which eaShed aud So 6ql of
depose be collected by the bank making $40 500 81
The loss sustained by the bank cannot estimate should
willingly compromise for loss ofonly 100000
Has the Bank a, any time oppressed any Of the State
~ Never There very few banks which mirlt nn
nave been destroyed by eNeon Of the power the bank
None bave been injured. Many have been sav Anr
more have BEEN AMI constantly relieved when 1t found
that they are solvent, pR suffering Under temporary Iii
Gully. 10y $50
q l. whena State Bank becomes indebted 10 the Bank ,c
an improper extent, what 10 pirs.3 TO YOU lei
them SO beyond ceran amount, and what is tia, amount
a Inc great object IS To keep the STATE Banks within prn
per limits 10 make them shape their business according then
means For tins purpose they called upon 10 SETTLE ncve
forced TO pay specie. # be avoided bat payment
tue bank round; amount OF deb, Is fixed bccas
the principle wish establish is that every bank Should
always be feady to provide for It's notes
Z D lfyou give dIas any branches or ON on,
branch on anoher or on the mother bank VIVA, Is the com
A. Tile charge for drans les. than the TRANSPORTATION
specie send detailed statement on this point
Z g. Do You. and AT every branch nav s,,,,r n l.,,
Has there teen a lefiIsaE
A. Never
Can you state whether specie is less abuudau
III e ont oiaies at present. thrn any former PERIOD?
n Nthe present moment, think specie Is more ahundan
man usual IL comes in usual Aud the stale of the p,
eanee with Europe such that is cheaper buy bills tina,
10 snip coin. ThGliauk ,ad ON the St instant, - s n,
WHICH Is more than II has had for nine years past
When The debt annually raid on 10 Garcieners d
'"eE Ie' ~ specie OF Ds OF exchange DO you supply tn
nrans III either way, a.
A. When iaresHe:s paid of apart is reuitcd in nlhc
stocks. pant goes IN hills, considerable m ON of which a.
"is G" Tie tank Specie is esoed TO- unless the b
h1Sst 50 high as 10 n"e that mode Of remittance cheaper
q SInce you coinnenc ed the purchase and .ae of ,:
Of exchange, has the rate varied; IL So to what ruen
A The operations of the bank IN exciany,s bas had II,
erect OF preventing the great fluctuations whic they WEI
previously liable 80
q 10 VIVA, is tie reason that the exchange on Encan
continues above what was formerly considered III, par wat
the dollar vaued Is Cd sterling, 5 n thar m. in,Irs
value Of the dollar has found to be less bsn IL Cd
so, What Is that intrinsic valuC'
~ The reason that choose 10 call orr dollar Is Cd
when never has been worth four sXpence and of curs
when goes abroad, estimated not by the name we Fl,
~ but according to lis real value.