Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-07-21
BANK INVESTIGATION.

From the subjoined correspondence between
the Senate Committee of Finance and the Bank
Of the United States, which we find in the last
Richmond Wing, it will be seen that this able
and industrious Committee Of the Senate, act
ing under a resolution of that body, have mott.
fed the Bank of their intention to make tho.
rough research into the affairs and condition of
the Bank; and that the proposition to do so has
been cheerfuly met by that institution. In re-
ply to the letter from the Committee on Finance,
detailing the various matters which il proposes
to make the subject Of inquiry, President Bid
die, by order of the Board of Directors, informs
the committee that they will "very promptly
and cheerfully give every facility within their
power" to the proposed investigation.
The Richmond Wing copies the resolution
OF the Senate making it the duty Of the Finance
| Committee to prosecute their Inquiries but We
omit this, as the communication made by the
! Committee to the Bank is sufficiently explicit
| II is as follows.-BQH Pat.
PHILADELPHIA, July 9TH, 1894
| To the President and Directors of the Bank or
the United States
| GENTLEMEN: We enclose you copy of a re-
! solution, passed by the Senate of the United
States, on the 30th June by which, you will per-
| ceve, it is made our duty to execute certain in
quires in relation to the Bank Of the United
States. These inquiries are:
! /. Whether the Bank has violated its charter
2. Whether the monies Of the United States
now remaining in the Bank, are safe.
| 3. What has been the conduct Of the Bank
since 1892 in regard to the successive extern
sions and curtailments of its loans and dis
counts, and its dealings in domestic or internal
bills of exchange.
A. And what has been the general conduct
and management since that period.
We shall enter upon these inquiries at some
period before the next meeting of Congress.
and shall endedvor to obtain the most full and
ample information upon all and each of the
points enumerated in the instructions Of the Sc
nate.
othis end it will be necessary that the Books
Of the Bank should be freely subject to our in
| spection; and that we should be furnished with
all such accounts, statements, abstracts and ex-
hibits as we may deem useful and proper. The
time of commencing the examination will be
hereafter communicated to You. But, in order
to facilitate our labor, and enable us TO 90
through it with more dispatch, when we shall
again meet, we have now to request that tue
following statements or tables he made out ana
forwarded, as soon as convenient to the Chair
man of the Committee.
J. A quarterly statement of the affairs of the
Bank and its Offices respectively, for the Seve-
raj quarters of the years 1892 and 1888, and the
three first quarters of 1884. This statement 10
contain,
]. Amount of notes discounted.
2. Domestic bills of exchange purchased and
discounted
3. Foreign bills Of exchange purchased and
discounted
| 4. Balance due from other Banks, including
their notes.
5. Balance due to other Banks.
6. Amount Of specie; specifying how much in
gold and how much silver; how much coin and
how much bullion.
| 7. Amount of public deposites
s. Amount Of private deposites.
ii. Statements of all the dividends of the Bank,
with the amount of any existing surplus fund or
contingent fund.
Ill. Statement Of the real estate and Banking
housesheld by the Bank, with an estimate oftheir
value.
w. The debts due the Bank, with an est.
mate showing what part is regarded as bad
or doubtful, and what funds, if any, are re-
lied on to meet any deficiency arising from such
causes.
V. Copies of all the by laws and rules ofpro-
ceeding adopted by the Directors.
vi. Statement of the rates of exchange on do
nestle bills, for the several quarters before men.
toned, between the principal cites in the United
States, and tables ofthe rates ofsuch exchanges,
yearly, since 1916.
Signed by The Committee.