Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-02-08
Pa" y a. s..l . a. 3. s..A.-R'sl-.-.

Il 60 - VI S@-Sse@~sss
uvni De seen from the proceedings detailed belew,
mat mo Bank OF the U. States has again stopped
cash Paymenis after certainly, mos, energetic and
gigantic ehors tocontnue them We ealiit failure
because such IL must be necessity Inc
the better face which the Directory put upon the
matter. '
} ms news was not unexpected here, for the pro-
gressivefs Of the Stock had suggested il a. highly
probable. Nor has Il created much regret, except in
20 TAR as individuals affected for since the peri.
cd OF its-State Incorporation the Bank of the u.
States has been conducted on inadmi,,be pripeipe.
u mas been mill stone around the neck Of the
wing party, and was well observed by a distin-
guished friend. an incubus on the Country. Itself
under suspicion, it has involved other Banks in the
suspicion, and been in the way Of n restoration
Of credit and confidence. In drowning condition
itself, IL has exposed others 10 peril from its despe-
rate attempts at extrication.
we are happy to state that the other PHILADELPHIA
Banks will not be affected by the s,oppaee of the
Bank of the U. States They confirm. 70 nav cash
THE BANKS AT RICHMOND
! We are still more pleased to say, will pay no re-.
spee' 10 t'e course of the Bank Of the u. States
ihey Will go ahead in resumption, and meet the
The following may be regarded rs Official:
upon the receipt, Saturday evening, Of the in.
teigence that the Bank of the United State, had
suspended specie payments, the officers Of the Banks
OF this city held meeting, and decided to continue
specie payments, regordless of the course of the
Bank OF the u. s.
The public may be satisfied that our Banks vii,
carry out the resolution to pay specie"
From ns U. S. Gazette, FEB. S.
BANK OF THE UNITED STATES.
This institution, we regret to say, has again been
redueedto the painful alternative Of suspending spe
Gle payments.
In the short space of twenty DAVIS since its vauI,.
were opened, we understand that the Bank has maid
out nearly six millions of dollars in specie funds
The daily increase OF the demands upon its vaults
from the eastward, rendered IL impo sSble for IN.
Bank lon.e TO resist the torrent Ii has reluctant
ly yielded TO the force OF imperious circumstances
The great error, consider, arose from the lie.
glslature requiring the Banks resume before thew
weie prepared or ~; Tor how can the Banks pay the
people, before the people pay the Banks When
the Bank Of England suspended specie payments.
II required twenty-five years TO resume.
The immense resources Of the Bank of the u. |
Sta'es' and the zeal and integrity Of its Directors
are sufficient pledge IN the public that in The |
shortest possible period, It will resume specie paw
ments, and discharge, with good faith, all its obga-
uons- roroearance and moderation are, therefore
alike enloined by justice and sound policy.
we annex the resolutions passed by the Ro,nd |
directors, al special meeting held last evening:
BANK OF rae UNITED SrArrs,)
February 1, ls4I.
Alta special meeting OF the Board Of Directors of
the Bank OF the United States, held at the Bank. |
were unanimously adopted:
whereas the Bank Of the United States in conn |
pliance with It's pledge to the public has made fair
ana bona noe effort to resume and maintain specie |
payments, having since the 18th Of January last |
pald out an amount little Il all short of sir mill
lions OF dollars, IN coin specie funds and whereas
the effort 10 maintain specie pay ments by this Bank
has been rendered abortive by the intentional ac-
eumuaticn and extraordinary enforcement OF its in
slant liabilities, therefore
Resolved, That this Bank is under the necessitv |
Tor the present, Of suspending specie payments
Resolved, That every exertion will be made by |
the directors TO collect the debts and convert into
cash the assets of this Bank for the purpose of re
suming payments IN specie at the earliest practical
BILE moment.
Resolved, That the foregoing preamble and reso-
lutions be publ
Extract from the minutes.
LARDNER, Cashier.
THE CITY AND COUNTY BANKS.
will be seen by the subioined proceedings Of |
the Delegates from the different Banks in the city
and county OF Philadelphia, that they have unani-
mousIy resolved 10 continue specie payments for 1
all their Liabilities, which shows a firm confidence
IN their means OF meeting engagements:
Delegate meeing Of the City aud County Banks.
At a meeting OF Delegates from the Banks OF the
City and County Of Philadelphia, convened upon
ofhcial notice OF the suspension of specie payments
by the Bank Of the United States, held February |
4th, 1871;
Present, Delegates from the following Banks, |
VIZ; Pennsylvania, Girard, Philadelphia, North |
America, Farmers and Mechanics, Commercial, |
Mechanics, Western Penn Township, Southwark, |
Kensington, Manufacturer and Mechahics,. Nov, |
amensing and the Bank of The Northern Liberties.
JOHN WHITE, Esq. was called to the chair |
and +. A. RArBpLD, appointed Secretary.
The following reso. uton was unanimously adopt |
ed That the Banks represented in this meeting |
will continue the payment Of specie for oil their i. |
abilities.
Signed, JOHN WHITE, Chairman.
+. A. RAIBoLD, Secretary.
Philadelphia, Feb. 4, ls4l.