Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-08-30

Specie in the vaults of banks
Bank notes,
Deposits
Specie IL cnoulllion

Sll2Uoouo'
-------
Specie IN the vaults ol banks S2''ouoou'
----
on see that the basis oi 100 mlllons oil 'sor'
and credits vas only 2',oooouo al dollars YET !,
~ impossible To imagine a currency answering al
ITS legitimate cuds more perfectly, and at the same
Inh''' IN every respect, more s7' "ld N"'eF' ~ -
mlnts that every dollar added 'o ne s'o' "' Gpu
aud Nl,tl en on hand III the vaults "l banks "nPId
have tceu Inst so much dead loss 10 tie community
.-hcVdes lowering pieces, aud $" iar' d'scon''e,ng
industry Aud here will take notice al another
llilacN very general here II X to suppose that inc
proportion o one To three maintained, o. 'ahc, ann
Ell II liotU ~ seldom ccetcdl by me banh "i sng
Land Is n fundamental universal rule III souil1
banking. Not At all hat tins proportion ouSl Il"
be, ~ mctc matter of local experiment, m cannot
be settled lti"u. la tl'Is country the experience
oi half ccnlnIy has established beyond doubt that
nothing approaching to n Htri ~ icqnIcd--a sixth,
~ less, has been abundantIy suthel'nt. our pc
cnlnt situation, ouI habits OF business, and The clt
actcl 81 the people have made II SO. IL England
were II not that the l,Auk Obliged 10 Keep ON hand
specie enough 10 support no, only It's oiEculn
liuu, but that of the country, aud even the Scotch
banks too (ior IN case OF a run upon thcm, they all
have recourse 10 ~ loss proportion would bc icqn
red. Nh. llorscl, Palmer says SO expressly IN his
/ examination b,totc a committee OF the House OF
Commons IN 1852
While tins subject wiltstatc, that have been
recently brough doubt the soundnoss OF
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rally the system has been the salcst, cheapest, most
elective, and IN all respects, the rnest useful and
beneficial thai could have been devised. This beng
merely ptclita I'll question, to be settled by rNprn-
mcnt every thing depends upon The tue state OF the
" y ~ ~ ~
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p''''o' '''' '',y ''' '.''oy '.'''l'o''
has been thought. They wiz pass away ms though
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- 49, "''' -, :" " " $3.50 9"
ne Government VIII ohis kaS now lllIiih II SHOWS