The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-10-29
Virginia.

EEsuMrrtdh.ZThe Richmond Compiler
saws: The prospect for resumption of specie
payments is good in almost every quarter of
the country. The large balances which the
Southern institutions have in New York, will
be of great aid 10 them in resuming. Indeed
we have no doubt that the south will be able to
follow Philadelphia and Baltimore, and main
tain specie payments after the first of January.
Our Banks will be ready and competent to the
undertaking. The Bank of Virginia has met
with heavy losses, which, added to her large
subscription to the James River and Kanawha
Improvement, has unavoidably been the source
of embarrassment. The Bank has been com-
PEELED to curtail its outstanding debt as fast as
the exigency of the times would allow, with
out rigor which would have created distress.
1t has, at the same time, been induced, In self
defence, to limit ifs discounts considerably,
though not to SO great degree as many sup
nose. The Bank fortunately, had large sur
plus, the aid of which. with the withholding
of the last semi-annual dividend, and its gen
eral prudential policy, will enable it to resume
with ease along with our other banks.
The Farmers Bank is in excellent condition,
and has acted nobly in the exgencies which
have been visited upon US. Its discounts have
been as liberal as with justice to itself, they
could be; and they have been, we believe, ex-
clusively, or almost so, confined to regular bu-
siness paper, and its customers have been sin
guarly punctual Hence its profits have been
good, and it will be able at any time TO follow
suit to the resumption at the south.
The Exchange Bank has also driven safe
and profitable business, and its discounts, in
proportion to its means, have been liberal and
have been of material service to the trade Of
our city.
The high prices and prompt sales of our sta
ple product, Tobacco, have, too, furnished the
very best funds to our Banks, and thus they
have received important aid. The balance of
trade, If not turned in our favor, has been pref
ty well equalized, and the banks have funds
which will, we are sure, meet all demands at
the point where they will be required
DISTRESSING SHIPwREck AND LOSS OF
LlFE.-The schr Sailors Venture, Captain
Brown, which left this port on Fridry afternoon
last, for the wreck of the brig Alvira, l3 miles
south of Cape Henry, was capsized in heavy
squall from N. w. on the following moraing at
A, M south of Cape Henry and about miles
from the land The crew remained on the
wreck until , A. M. when the mainmast was
carried from its step, which forced the deck up
and the vessel went to piecs two Of the crew
were drowned when the schr. capsized. Capt.
Brown and one of the crew succeeded in get
ting hold of a few planks from the quarter deck,
on which they held until nearly shutdown, and
on approaching the -shofc, the seaman was
drowned. Captain Brown, the only survivor,
reached here yesterday, from whom we reciev
ed the foregoing account-NorJok Beacon.
We learn from the Wheeling Times that
sickness prevails to an unusual extent in that
city, so much so that the paper named says
that since the days of the cholera, death has
not made such havoc among the people as the
last few days had exhibited. Amongst those
who have fallen are several of the most estima-
BILE citizens of the place. The character of the
disease is not mentioned.