Maumee City express. [volume] (Maumee City, Ohio) 1838-184?, 1840-02-08
From tho psIly Hersld.

lIUES1lONSA AMI ANo w ENO Il On
THE PEOPLE OF OHIO.
Question. is the amount of Bank
capital in Ohio? F-
; .anstper.-Eleven millions nine hundred
and twenty two thousand dollars.
q. How much OF our Bank stock is own
+ ed by persons residing in other States!
A. About six millions of dollers.
@. What amoant is due from the people
to tile Banks for loans?
A. "A little over fifteen millions of dollars.
@. What amount is die to the people
from Tho Banks? 'o
II "a. On the 3Oth of November, the Banks
owed the people about five millions of dol
lars, being the amount of their notes in cir
cuation. "o
@. Suppose all our Banks to have theil
charters repealed, and we were to return
to hard money, how much would the com
munlty be obliged to pay the Banks in spe-
Gle after returning all their Bank notes!
A. About ten millions of dollars.
@, What is the amount of specie held by
the Banks
A. About one million eight. hundred and
fifty thousand dollars.
J @. How much specie is supposed to be
in circulation among the people of this
Stnte7 '-
"A. About two millions of dollars. "
@. In case our Banks are compelled TO
close their business and wind up, how much
specie must go out fthe State to pay stock
holders in other States
y A. About six millions ofdollars, or more
than three times the sum which is now in
the Banks of the people ofthis State.
@. see by the. Bank Commissioners re-
port, that the number of Bank debtors is
only about ten thousand, or one bank debtor
to every twenty-five voters, how then can
the collection of Bank debts trouble those
who do mol otoe the Banks!
4 "A. My neighbor w owe the Banks about
4 $4,000, which loan has been extended and
renewed sometime. Now in looking over
his books the first of January, found he had
notes and aceountsaganst nearly 800 farm
ers and mechanics who owe him, in all,
nearly $40 900. He has been waiting pa
tiently on his customers, because the bank
did not crowd him. Now if the bank must
collect the $4,000 of him, he must in turn
call on his 800 debtors for pay.
@. Who is the heaviest borrower in the
State?
Il. The State itself.
@. How much does the State owe?
Il. About ten millions of dollars.
@. How much money must be sent out
of the State every year to pay the interest
on this debt
] "A. About six hundred thousand dollars.
@. How does the State raise this sum I?
/ II. BY taxes and tolls on the canals.
@. How much did the State receive from
taxes on bunk dividends the last year
A. About fifty thousand dollars.
4 @. How much does the s ate now col
ect in taxes from the community?
a. About four hundred thousand dollars,
and of course our taxes must be increased
IL per cent. if our banks are destroyed.
@. Will it not be easier then to pay the
same amount of taxes.
"A. Twill answer by asking another ques-
ton; do you find it easier to pay your taxes
this year than last A. QUgRIsT.
BANK OF ScorLAND.--Wi the excep
ton TO three banking institutions in Scot.
land, no others are chartered associations.
These three, having their chartersfrom Par.
, lament, are the Bank of Scotland the Roy.
al Bank of Scotland, and the British Liner
/ Company. The unchartered banks amount
to thirty in number, and many bc termed
b priuate banking companies.
; The peculiar features of these banking
, companies are: s ....
!, l. The partners are all bound, Jointly and
t severally, for the notes which they issue
Every partner is thus liable, to the whole
| n h,,f f,rt q . ba ~ hnl n oh G
, of the company.
Q. The number of partrers is unlimited,
, 8. For the payment of bills issued, the
real as well as personal property OF the
partners may be attached by the holders.
The solidlty of these banks is thus amply
secured. The laws OF Scotland strengthen
this solidity, by opening the records Of real
estate to the public. The effective means
which banking company may possess to
discharge its obligations, may thus be
readily ascertained, and the partners can
determine with accuracy the risk ana res
possibility to which the private property oil
each is exposed. ad
i Avery natural result of this system ofpri-
vate banking has been very cautious ad.
l'minlstration; and consequently, few bank
ruptcies! The directors ottie Scotch banks
are chosen from among the partners, and
as might be, expected, where their whole
fortunes are at stakes, these partners exer-
else a vigilant superintendence over the
concerns Of the bank. In 1898 and 1895,
when every. man of the English provincial
banks failed, not one case OF bankruptcy oc-
Cured in Scotland. 1t is quite evident that
The noteseof a banking company, whose
partners are individually liable for its whole
debts, can only be put in circulation where
the wealth of those partners isennown and
acknowledged. These notes, must, more
over, have, the confidence of the community,
where the law of, the land subjects the
debtors property to executions, whether
land or moyeables, for the payment of his
debts. fsf ;i jR
I With this system of banking, deposltors
have the greatest security for money which
they may place in bank. The Scotch banks
receive money on deposi.e, even as small
sums as fifty dollars. For these de?osites
they now pay an interest oftwo and half
per cent. Thus these institutions are, in
EFFECT, saeihg banks.A Ini report to the
Hoase of Commons, it is estimated that
there deposites amount to seventyor eighty
millions of dollars. y 5se aai a's
b, CASH CREDIrs is another admirable fea.
ture of these banks. The individual who
has obtained credit from the bank, may
draw the whole sum- or any part of it, at
lt11 4 ~ .xf.x -N,f