Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1841-12-25
EXECUTIVE DEP

New Orleans, lStli December lSa |.
S1t--l bave the honor to acknowledge the
receipt of the letter which has been address,
ed 10 me yesterday, in the name OF the Board
Of Directors over which YOU preside, to ex-
press their regret that, in my l1te annual mes
ange TO the general assembly, "the Eorrollton
Bank has been c!opscd aa ono of tho ~instltu-
tons which has enrreasel lts liabilities during
the Last two years"
No one could have experienced more urea
slloss than | would, if through any error con-
talnrd il the communication 10 which You al
lutlo, tic Corrollton Bank. or any other, had
been tn9de u0acForrcdlf tn suffer, | therefore
feel happy IN being able to stato and 10 prove
thot this has not been the ease.
In the discharge of what I considered a tt-
tf, | have informed the Legislature that the
Board Of Presidents have postponed tho re-
sumption OF specie payments unit! November
ISL, in order to enable the weak banks to
change their position. It il not through any
net Of uline that your institution has been
classod rs Il weak bank. 1t has been done by
a resolution adopted by the Board of presi-
dents in tho following worfs: ''Resolved, that
the aid which may be necessary 10 enable the
Improvement, the Exchange, tho htcIafalaya,
the Orleans and the Carsollton Banks to re-
silne payment in specie with the other banks,
be furnished to said banks Immediately, &c"
Wishing to prove, by what had already ta-
ken place, that those weak banks could not
expect to be benefited by a continuation of the
suspension, | have given the position Of each
Of them i'll October Inst, and in November,
1889, Immediately after the second suspen-
sion; and | have shown that during the last
two years, their collective cash liabilities have
| increased tnorc than 57sO,OOo, and their col
lective cash assets have decreased Ss300,00O.
The statements on which my calculations
were based, have been extracted from a docu-
ment submitted officially by the Citizens
Bank to the Board OF Presidents of the banks
of this city, which has since been laid by that
institution before the general assembly
These Nerc the only data on which | could
safely art, because the Information on the stu
alton Of our monetary institutions which ! had
requested officially from the Secretary OF the
Board of President could not be cornmuni-
Gated t. me, notwithstanding the Willingness
of that &c rtlenan to do 50, before the meet
ing of the legislature.
In neither Of the statements quoted in my
message. can you find a cause of complaint,
for in both of theta your liabilities are smaller
than those now given by yourself. Your clas-
~siication with the institutions that have aug
ncnted their liabilities coulI not be avoided,
for having undertaken to show the effect OF
suspension on all the hanks mhich The Board IF
Presidents intended 10 retire, | could not help
chasing you with them, without making a dis
tinction which might appear invidious between
the banks which they had thought proper to
connect.
| learn with much pleasure that the Car
ro'ltoaI Bank is preparing to resume specie
payments, sat as early a period as a majority
of the banks Of this city may do so" / hope
that the time is not far distant when the coun-
try shall be relieved from the caIamitics which
necessarily follow the circulation of an ire
deemable paper currency.
Respectfully,
Your obedient servant @
(signed) A. B. ROMAN.
g.. c. Duncan, President of the
Carroilton Bank.