Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-05-16
Sl,59o,6ss
4,e5l,lll

100, $50 $4,000
The amount ordered from the Comptroller is 4ssi'IiI
II thus appears that the report Of the Comptroller in
January last but one and half millions Of dollars have
added circulation by the banking The
truth is that the operation Of the law from that an
cPated the projectors of the many banks which have been
proposed The law ITSELF provided only security of
the bill holders and nothing for the security of dpoors or
the balance Of the large business which anticipated these
banks would transact II was therefore supposed that
ing institution Of this description compliance with the ri.
requisition with regard to bills circulation would
fully establish the credit Of such institution and small circu
ation would thus form the basis large business on the bill, Of
ether banks particularly those Of in other states
This defect early pointed paper and the abuses
10 which it would lead properly shown up
Accordingly bill introduced the legislature of this
state prohibiting the receiving paying out money the bills
Of banks out Of this state
This bill published in this paper on the 18th of March
last II subsequently, became law and severe blow to
the operations Of the banks then conducted Public
opinion has supplied the other check which overlooked in
the legislative enacnen and found that the mere fling
Of stocks, as pledge to the Comptroller those bills
which they otherwise cannot procure considered with
the public sufficient guarantee for the safety depoe or
Of the character Of their exchange II 10 also well known
fact that large number of the were started Lv ho.
whose object TO borrow money and the scheme was
ing one to this class to pledge 100000 with the
# BY doing they could have Of perhaps
ofdeposite which must prosperous state Of ne
cessariy be in the bills Of the cid banks.
This project good in theory has not been f.und
bic, and the banks have all been thrown upon their
source ofpro6t Now in looking over list Of SEVENTY
seven banks proposed with capital be paid up Of $50 Co.,
ooo we md hsven Of them have capitals Of one and
two hundred thousand dollars With all the advantages which
the new system Offers institutions with capital small car.
under no circumstances be made profitable Let anayze
bank with acapai Of 500 0o0 Thus Of this
or $4,000 must be employed in the purchase Of stocks,
than sssooo can be kept in circulation TO the extent, n, hal.
a.ee Of course will be in ,ran.u ofthe remaining sasoes
hand leaving $4,000 active capital To ,hi. NAV be added
49," - - e'P'''' '.0 circulation "i'i stand
Note. ofi.sue. xs,ooo
Active capital, 10000
DePos'ss, 1900
Goa ooo
With such sum there cannot be discounted o.n,
than 900 with any degree Of safety The amount r 49,
deposited will YIELD say .ix per cent and IN. bu;, s,h
bank IL conducted in regular and I..;,;., So IA, ~
stand thus
Stocks. s75oooa. mo :, s,soo
Discounts, $1,000 4 $500
-
,,,,., sio'i"
49, - . " 49, - ,e"', SALARIES o. omoer', sta
ths ;pve.teJ c.,ita without taL;,r ;n,o .o..;I..-
- -, 49, ' a"'s '"'o eoh'aerauon any
!, -, 49, '
-. - $50 "A'' " inc propose
sa.AN -, ',. ~ ms'' cease 70 DC. IAe
~ a. ~ "' 's.'ea " "e new banking
"' ~, r' .' ''""en' OF some Tour or
- ~ ~ P'oa o. '"ose IN th' city. The
'An',s o. "e, W" aePena upon the business character
anu -''s' =, ."ose charged win Their man
u me mos, Forward Of these instr
fy sven '"gn' ske'eh. They are az
'o"""'
W5en filed By ,rLom c,o,,., 1ropessea
N. A. Trust X J,,v ,s,e = n n 90. -. -
nj, ~ q" 'OO''0S
New York. Augls3s @. Griswold. 100000 sooooooo
NJ York Bank N,o,a j., n,o,, -