Maumee City express. [volume] (Maumee City, Ohio) 1838-184?, 1839-02-02

deranging her curs, of3feelIng or knowing
whether the thermometer 10 under or over
zero. x ls s (, : (, issfs
The grent pioneers in this system Of frax
veiling are the Messrs. Stevens, and if they
fhaye arranged the new line on the Baltimore
lplan, under his superintendence, ! expect to
see as great crowds Of fashionablss at Wash
ington during the next.six weeks as ever I haye
seen at Saratogas q.
7Baltimoreis in q very fiourishing conditions
The revulsion Of 1887 was hardly felt hsres
This fortunate escape is attributed to very ma
tural causes. 1885 there was aterfible ex=
caused the riots and outbreaks of that year.
The, Bank Of Maryland, managed by Evan
PouItney, and several other concerns, came to
pieces, and caused great ruin and consterna-
tion---the intense excitement, and many losses
of that year, prevented, in Baltimore, in
great degree, the speculatiuns which charac<
terized the rest of the country IN 1885, and the
consequent revulsion Of 1887.
In May Of that year, these Banks suspendedt
but the act was merelySin self defence. Az
soon as the Philadelphia and New York Banks
had both resumed, the BALTIMORE banks follow
ed as a matter Of course.
About the time of the resumption, al the
banks entered into an arrangement to receive
on deposits and in payments at par, the notes
Of all the Virginia bankg. These notes were
then returned to Virginia, and specie or Phia-
delphia and New York funds, were demanded.
This measure was managed by the Western
Bank for all the others, and was to continue tos
the lst inst. For this service the Western
Bank was allowed certain commission.
The Baltimore banks proposed to themselves
the increase of their own circulation, at the
expense Of the Virginia banks the circulation
of which had been brought here in the way Of
trade. But its real effect was injurious to the
trade of Baltimore, without answering the ptr-
pose of the banks. The brokers of New York
and Philadelphia collected all the Virginia
funds they could get in each of these cities.--
These funds were sent to Baltimore, deposit
ted at par, and the next day the specie or New
York funds demanded.
In this state of things the Western Batk
there, who acted as the general agent Of the
Baltimore banks performed very laughable
operation, which ought to put any Bank into
Coventry for a year and day at least. They
selected althe notes of the most distant Virgin
ia banks, sent them to Philadelphia and New
York, sold them to the brokers, who purchase
ed them under the belief that the Baltimore al
lied banks arrangement yet existed. As soon
as this was done, the Western Bank called
a meeting of allied banks, proposed to annul
the arrangement, and did so annul it, several
days hetore it would have expired by is own
limitation. By this operation the Western
Bank slipped its own head out ofthe ,ose and
spt into it the heads of the Philadelphia and
New York brokers. The latter had, there's
fore, left on their hands, about ss200,00 more
| or less, of Virginia funds, at to 1-2 per cents
| above its value.
Then did Greek meet Greek. On anoth-
er occasion shall give full view of the cur
rency, circulation, trade and resources of Baltl-
more. 1t will be interesting.
Last night visited the Theatre. The The.
atre is a neat concern, but as cold and uncom-
| Portable as charity.
Baltimore is not an ent tlusiasticaly theatri4
cal going place. Formerly the women were
SO; but, oflate, they have been cultivating pie
ty and pleasant looks-the latter in great per.
fection. The female portion of the audience
appeared much more smiling and lovely, than
those Of Philadelphia. This is odd; for both
cities have each an abundant supply of pure
and pollucid water. {E
FREE BANKING. 1T is wonderful! how reluc4
tanty, people that have been long accustomed
| to leading strings, consent to forego them, and
make the experiment of walking alone.
In nothing is this more remarkable than in
the matter of banking-a business as little
mysterious and as surely subject to the gener-
al laws oftrade, as any other, and yet one that
from having been SO long the creature Of art-
fetal regulations and prohibitons-men seem
unable to tamillarlze themselves to seeing trea-
ted and managed, like every other business.
Our last Legislature, under the pressure Of
both parties, each seeming to compete With
the other, for the merit of the emancipation
stript ofthe manaees and letters from bank
ing, and taking most abundant precaution on
the point which mainly concerns the public,
thesecurity of the circulation, left all else free
70 individual enterprise and competition.
| Under this wise and benefcent law--wise
and beneficent in restoring to the community
rights ofwhich it should never have been d.
vested-much capital has flowed and is flowing
into the business of banking, and by consc-
quence becoming available for the constantly
swelling business of our great commercial
mart.
| But there are yet sceptics, and timid lockers
on, who in view Of the free and Forward move
ments of these new ssociations-mistake
their freedom for dangerous rashness, and cry
out again for the fetters.
! In this spirit, certain suggestion in the. Star
of last evening, addressed to the Legislature,
in order to induce them to revise and embarrass
with restrictions and provisos, the law flast
year. We have rarely seen suggestions more
crude, or indicating less practical knowledge
ofthe matters to which they relate-and we do
not therefore think it at all necessary to discuss
them-but 10 relation to them and to all such
restless and il-considered efforts to amend,
what has not yet had anything like trial--we
may say that the obvious policy is to wait and
see how the thing works, and especially to
avoid, as almost always fraught with mischief
all Legislative interference. Laissez nous