The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1837-12-09
THE MESSAGES.


Both the President and Governors mes
sages are very interesting documents; and
we only regret that their extreme length
will cause some delay in the publication of
them in this paper. On account of its
more local character we shall first publish
Gov. Rtners message, and from which
we make the subjoined extract on subject
in which every one feels so much interest
at this time. The whole shall appear in
our next, and the message of Mr.. Van Bu-
rem in the following number.
1t is now my high qualification to be able
to announce TO the Legislature, thatnot only
have our iellow-citzens generally amply
sustained their old reputation for good faith
and iorbearancc in the trying clisis, but that
the portion of them connected with the
Banks, have realized all that was expected.
The report Of the Auditor General, when
laid before you, will show that there has
been a material decrease il the amount of
notes IN circulation, and an increase of spe-
Gle since the suspension: Also that the debts
due TO the Banks have been reduced, which
result must have been produced without
distress to the community, IS no complaints
OF that kind have been made known; and
that private deposits, which are the best
evidence Of public confidence, have suffered
very little diminution.
Returns had been received on Yesterday
from all the banks in the State except the
Northampton Bank, the Lumhermans' Bank
at Warren. the Honesdale Bank, and the
Columbia Bridge company, the whole num-
bel in the State being fifty.
Their circulation, specie, discounts and
deposits, stood as follows in the beginning Of
May and November 1887.
May. November.
Circulation, 81 ,0635f2 o50lG,lGf $40 u
Specie, 4.39I.G72 pm G.0a6 $40 a9
Discounts, s6,4a7.Oi3 4sHGJ, J,0I2,455 0A
Deposits, l2,40l,0o6 i58l.J2G.27J 2l
Hence ltappears lhu lherr has been T.
dcclease Of circulation, to the arr9unl of
S4,899, ,0G3,S4, or near one fourth, srce
the uspension--oi discounts 10 the. amoupt
OF Sl6'464,S56 13-or about one fifth. anI
OF deposits to the amount of S557 ,72S "a.
or about Observation-Disclosures that snncie
has increased more than onc-halr. or 90.
5l5,43S 80. The returns vet to We receive
ed will not materially vary ire result.
1t thus appears that the banks OF Fcuu-yI-
Vanla are in a much sounder condition than
before the suspension; and thai lhc resump-
ton OF specie payments so far asi, de-
pends on their situation and resources NAV
take place at any time.
But we must not rest content with the
contemplation of this gratifying state of
things. Though favorable combination
OF circumstances has for the present guar
ded us from the extent Of injury to which.
the occurrences of the past year exposed
the Commonwealth, it is not the part of
prudence again to rely on a similar escape
from danger Our duty is, if possible, to
prevent its recurrence
The BANKS have well sustained them
selves through the crisis; but the Bank
system that could admit of such crisis,
must be defective.
The fact that general suspension of pay-
ment in gold and silver has taken pi ace,
without producing general forfeiture of
the charters, though it was the evident in
tenlion OF the Legislature to prevent or pun
lsh such catastrophe by that penalty,
neither justiies the suspension, nor proves
that the penalty is unjust. 1t only shows
that crisis has arisen not foressen by the