The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1837-07-01

N"AASA OdNh Vi L OLlS-
vile, 2o7,58s 7,7oC
TOTAL, $l,l32,673 SlI5,2s4
Thus, only sll5,2s4 in specie are helc
by these five neighbouring banks to redeem
Sl,IS|,67Srof notes in circulation, being
ten to one, This state of things exhibits
The deplorable condition of the Banks when
they suspended specie payments; and theil
own statement as above shows the cause
why people have no confidence in these
moneyed monopolies. Give as the METAL
Lie currency, and if we have but little, we
have that little to a certainty.
Notwithstanding the Gberality of our
views, and the general illusions which
governed US in penning the article, it seems
to have given offence in particular quar-
ter, and called forth expressions which
common sense would have suppressed for
a more fitting occasion. The following re-
ply, or rather attempt at smuggling the
truth and force of our statement and argu-
mert, made its appearance in the Bank Or
gan of this place on Tuesday last. We re-
publish both articles entire, in order to show
that we never fear giving the facts in evi-
dence 10 our readers in question which
may equally affect the rights and Interests
of every citizen Of the Commonwealth.
From the Columbia County Register.
Rag Cireulafion.--An incendiary article
under the foregoing caption, under the edi-
torial head of the last "Democrat," is evil
IDENTIFY intended to create panic, and there
by introduce ''the hard times into our sec
ton of country, which happily for it, has
not been much felt, in consequence of the
confidence which has hitherto been reposed,
m the integrity and capacity of the Nor
thumberland bank, to redeem all It's respon-
sibilities. II is only necessary to refute
these vile insinuations, and shew with what
hippancy opinions can be changed, lat least
with respect to the Northumberland bank)
to refer to the Democrat of the 27th OF
May last, only one month ago.
Under that date, in leading article, the
Democrat announces the stoppage of specie
payment by the Bank, and states ''that this
course was rendered unavoidable, on account
of the adoption of similar policy by other
banks" sit is with pleasure however, that
we can express an increased confidence in
the Bank, drawn from the magnanimous
conduct ofthe Board of directors, in pIedg-
ing their private estates for all its liabilities.
The names of the directors are given,
and the "Demoerat' continues: 'sThese gem
Ihemen are known to the community; and
we feel assured that no Bank in the interior
of Pennsylvania eau produce so greata COM
T.. III
of directors-such sure guarantee against
losses TO the holders Of notes. We can al
SO, as a compliment to the directors Of this
Bank, (which they may appropriate person
ally If they choose,) add the simple fact,
from PERSONAL ACQUAINTANCE, that there is
no such precarious parsonage amongst them
as a SPECULAToR." After such compli-
ment TO the Bank and its officers, from such
a source, what has occurred since its pro-
mitigation, to change the confidence OF the
people, and the opinion Of the Editor in SO
Short a timei
Now, lift be incendSarisn1 to publish the
TRUTH, then the charge of our neighbor of
the "Register" is correct, and we shall cry
peeuvi; but we must first be convinced of
'the genuineness Of such logic. The state
ments of the five Banks are all TRUE, and
were testified TO, a,nder oath, by the differ
ent Cashiers, when they transmitted them
10 the Aaditor General in December last
We did not, in 0ur article, say any thing
AGAINST the Bank of Northumberland in
particular: we published the statements OF
ALL the neighbouring Banks, and on gen
,srGl principles, accounted for the suspen-
sion of specie payments. Then where are
she "vile insinuationss" The Bank must
be ashamed and afraid of its. own statement,