Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1835-09-24
s6I6sg O2o 10
Toil

al {3ea Of tic te1harlcr Of tho bank pr,cf 70
the 81 of Mach next. Il n an eBd. and on that
day must cease is discounts Of all nov raPc-,
and I'll other obcr dious that aie not essential 10
the uinding Up Of il allafS and 10 the collecting
Of its debts. How fr tao later process may lie
commenced in anticipation Of the day assigned,
Nc have no opportunity Of Judging, bot ofthi7 iatt
wcapprehend there canhe no doa. ,fhat, between
the iifs, Of Sc ptembar and tie hd Of March, en-
bfaeing term Of six months, the whole amount OF
tlcse domestic bills viii become due aud payable.
Now his being the ense The first question tlat arr
ses s. will the bank, fast a. those Lil tall Gao,
lr-inycsi the money G,ns paid IL in Other dome
tic ILLS 60 ~ TO retain up - the l1irI period OF
tAc duration OF her charter, IN equal amount Of
iosps OF the same forn1 / hat She vii either do
his. or that she " ii not do il, il clear. II sic do II,
fhcn lbcte will fall due within four or six months,
but say the latter, amer the Sd Of March. TWEEN
t,.one millions and a half Of dollars, payable
.eiLom The possibility u The rtafpoi Of any
alr- Of the amount, owing 10 the TACT, that The
psltes 10 the hills residing IN different place,
could not BE brought togeibcf, - regards lieu
responsibility, in any mode that wyad MT
constitute . new Transaction. II, ho~etef, ohiLc
other hand. she do not rearcst those funds, a
The, fi duo, III bills Of exchange or IN loans Of
some other description, r Amount paid in MI
crate au absorption oflht currency 10 that eN-
tclt. Jtiore instead OF ojter he 1th Of MGsh.
How such nm amount Of debt can be collected in
any period Of SIX months, now, OF at any future
iime without producing pressure We are unable
10 perceive, aud II IS in order thai the public may
nave tic possible effects Of such n measure before
thcm, IN time 10 be prepared 10 meet II, that We
have yennrcd 10 make those remarks.
As regards the sum OF forty millions und,I tic
head OF loans, the case is materially different. The
parties 10 the paper which comes under hat de-
nomination are all on the spot, where the paper
has been discounted, and IT will be i0tic po"efnI
the bank aud II will be majesty its interest 10
make ITS collections upon that branch ot lis credit,
by such gentle iu,almeul4 Is viii gradually haup
down the total amount Of its loans OF al dascur
tons, below thirty fyc millions, when IT can inst
begin TO make din aeud5 OF ii, capital took still
,hcre must be a considerable portion nj lhese loan,
IN the form Of business paper, tho payer. of which
can have TO saehclann upon tie payces, rs 70 eatI
tie them 'oihc right OF ma epdor,t mrut on arcHe~
Al of any paIt 81 the amount, and which Of course
must be pad Il, maturity his amount may pa,
sihly extend totem millions Of dollars, aud in tia
event the total amount Of nou.tcIenabe noies and
bills that sill hecomc due and payable within sly
months will be upwards Of tlllrty millions OF dol
lars.
Sach benz the aet i, fir as tho public have
any means OF iuLeinr, tho next question that pre-
sent, itself, is, what ought thu public 10 do in order
TO avoid the effects Of 50 sudden dimnuton of
loan,l The bank, ii will appear from the Samc
statement 10 which W. have referred, Is herself dis
posed 10 mitigate Tho necessity of too rapid a re-
duclon of her credits for she has hrweoa the first
OF June and the first September, augmented the
amount Of what ave termed "lolns,' 10 the extent
of near million and half Of door>.--Shr may
na,.lly find her account i'm adopting this policy L.