Sunbury American and Shamokin journal. [volume] (Sunbury, Northumberland Co., Pa.) 1840-1848, 1840-11-14

abroad during the year previous TO the war. o, the
dissolution OF the Bank in 1911. This laid the
ground work most Of the evils which the coun.
Try experienced for many years aferw ,rd.. A de-
m1nu SO originating mus, preclude from its nature,
any fresh loans abroad The remittance mus, he
made in coin, or in produce by reducing to the
proper extent the importa,ions. Precisely At the
time when this natural operation of the reduction
in relundan. bank capital appears to be unavo:da.
ble, IT is propo ed to create NV bank Of $50
100000, in the hope that is action may rise up
and support the mutifari,us iniere.t is connected
with the insolvent banks. If new institution can
be erected on the ruins Of the old, in such manner
as to comm md the conf lrnce Of foreigners, il
might retain the capital in the country which wi
he Withdrawn from the broken banks. This il.
however scarcely to be expected. The st ckholl-
ers OF the United States ank have already lost one
years dividend, and as the bank acknowledges that
It's capital is impaired, there is no shance of jana.
ary dividend With such loss before them, it
will be difficult to establish confidence"
morning contemporary in this city also. adj
Verts 10 the last announcement to the effect tha,
satisfactory arrangement has been ma lie with the
ca'ern capitalists, and proceeds:
"'Ceitan resumptonv For the twentieth time
DO we again hear this glad intelligence. But do
the people believe it Are the community satisfied
that there will he resumption of cash payments
by our banks before the time stipulated by law!
As state and condition Of things more favorable
than the present has passed by unembraccd, we
are not of those who ceranfy in the present or
future. 1t is true, believe that several of our
city banks have now, and ever had the means of
tedeem;ng their circulation and of continuing their
bu'nes-that is their resources bore that propor-
ton TO their liabilities generally esteemed safe in
bankins-lnd that all have since the suspension
greatly increased their Immediately available means
as we'll as have improved their condition generally
Their specie has been increased and their indebted.
ness lessen d. But the favorable opportunity
OF the low rate of exchlnge between this city and
specie paying PORTS, and the light lusn and
little demand for money has ju,t passed over and
no re,ump ion conf lence in the future we con-
less Is nucn weakened. Few of the favorable
crcumst,n necessary TO resumption can be
hoped for between this and the 18th of January
Business has increased the demand for money, eI-
change has risen, and the demand for coin for ex-
portati has caused considerable increase of the
discount on our already deprecated paper The Inv
OF Congress- too, which requires proportion of the
public dues in coin, will increase the demand for
specie, especially long as the banks remain as
ihey now AMI lastly, the accounts Of the loan
necessary for the bank TO resume are quite contra.
dictory AMI unsatisactory.'
1t will thus be seen, that some OF the i,urn ,I;.,s
still throw doubt upon this matter. Mr.. Jaud,n
anl two Of tho Directors, Messrs. Brown and AL
sop have gone TO Europe in the President, and il
Is believed, with the object of obtaining assistance
from that quarter, in The shape of specie, les, any,
tn ns should prevent the success of the arrangement,
in contemplation w.E the eastern banks and CAM
taists.
In relation TO resumption elsewhere we can only
repeat that 1t will depend principally upon the
movements in this city, although not altogether SO.
All the solvent sout em and western banks are
getting ready; but we must not be surprised to see
a W Of these institutions f,lter and quail a, the
critical and important movement. Generally speak
ing the banks are sound, but the arc, we a,,ex.
cepions even to this rule.