Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-01
HOSEY .N.3TTERS.


The n. Y. Herald of the 25,h states, that "Exchange
on England opened this morning for the packets TO-
morrow (todav) l0G 10 and rose from that rate up
10 1876 81 and ln7 closing rather rmer than 10y The pre-
yiors packets This slight rise in sterling exchange has
been caused by the scarcity Of Southern cotton bills III
the market, and The delay of arrivals from gland -
rhc scarcity ofou,crn bills caused nsone degree by
the nnerali0ns Of the United States Bank IN the South
We ;.rrn that The agent of that institution was IN Gcor-
nia If The last dates, making large purchases IN The cot
ion market From private letters their recent operations
have amounted 10 5000 bales, equal to nearly lUo uOo
The bills to which this amount wonld form DaS!s are
absorbed entirely by the United States Bank. and re-
,,ncd 10 meet the first instruments Of the bonds issued
for one year in April and March, 1877 Large amounts
fall due in London, in April and May These opera
lions lave been based on the Incanceiied notes OF le
Old E.nk; and Of late, it appears that new species OF
exchange small in cnominaiion have also been issued
in The South and West, 10 answer The purpose OF small
rcmil,ances to Europe. The extent of the u s. Bank,
in ;lc cotton and foreign exchange operations, must be
very great Probably two.thrds of It's business are now
Of his character, &c Hereafter it can, il it pleases,
uonouoIizc al least thirds Of the cotton and foreign
exchange trade of the country
Want picture is here exhibited Of the great power
md rross abuses by the Bank Of the U. States ! We
understand TINT the merchants in ihe South are begin
rirr TO complain heavily and most justly against the
Bana, Interfering with their Legitimate and appropriate
Lusiicss-and entering the market as dealer, with lis
larnr funds. and what is worse, upon notes o the old
Bark which it had no rig ht 10 issue.
The Herald of the Goth gives The official statement OF
The condition of the n. Y Banks the LIST February-
md states that with the exception Of few Of The small
banks the great bulk Of the city institutions have
greater amount Of specie than Of circulation. The only
pon, which would be vulnerable, in instant rcsump-
lion is their amount of depositcs.
This Official Exhibit Of all the banks in the Slate oil
New York, shows dminution Of loans and diseounts
since the Is, Of December (wo monlhsO OF 81 40 Dbl;
an iacrtnss of specie of S4GG72 DIMINISHED crculn.
ton of s23G,Ol3 inareasc Of the canal fund depoo'
sites of $751; 56; decreass Of the State Treasurers
deposites of SG6 S2 increase Of the U. S deposile
of 299 and decrease Of individual depostcs OF ST.
l5u7G7 Total of circuauon 81 ,343s9 oil loans and
DISCOUNTS S53 ,3s3 SD; of individual dePoscs, Sl4 ,oo
lt:,: of specie, s3,9l9 s32-1he Improvement in the
condition of the banks since The lst Of june is stIlmore
srlkng-Decrease of discounts, Nc: lU1' :44o-in-
crease of specie 0l9decrease of circulation near
3 L.! millions, &c.
TIE recent Report of The Auditor to The General As
senaly of Ohio of The banks that Sale is also cheer
inr From May to December, while their circulation
has c,sased G4O 800, their specie has been increased
S.-- !2n The circulation is 81 % IN paper TO 81 IN
spec;c-Their depcscs haze decreased 81 6l9ool-and
their discounts also DECREASED 1891 :olo.