Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-05-25
Prom the ". O. Bee. Ass ~.
THE CRtStS- Tl1E cipS-ts nav

| Yesterday morning. At nine o'e'oek. The Uni
| on, City, Louisiana, Carrollton, Commereial, Me
chanIes' and Traders and Canal Bank, opened theu
| noors under full resumption. The CONSOLIDATED
Bank, very unseeountably, withdrew ftom the ar
| ransement entered into on the Saturday before
by which It also hal agreed TO resume and refused
10 throw open its vaults, alledglns, reason fo
/ such conduct that the CiIizens' and Louisiana
state Banks had refused TO undertake cash pay.
| ments, and that II, therefore. would no. At the
meeting OF the Bank Presidents, OF Saturday, al
winch resumption was agreed upon, the Citizens
oank was not represented, and the President of the
State Bank refused TO sanction the measure, as the
Directors had not empowered him to decide, either
Tor or against resumption. The subsequent deter
minauon OF those Banks, therefore, could scarcely
be appealed to to Justify the course Of the CONSOLE
dated Bank
Upon the opening of the Banks, eonsiderab ole
run was made upon them 10y the holders OF small
sums. Tie excitement increased materially
oy The refusal Of the Consolidated. Citizcns' aud
state Banks to JOIN IN cash payments, and until hall
past two O'Clock. the calls for specie, at the Union
CITY, and Canal Bank. were constant. At the Me
chances and Traders, Carroon ana Commercial
there was some stir early IN the morning; but il
was not kept up foe more than forty minutes; sfter
which time the demand for coin abatej, and tn the
expiration OF banking hours few notes present.
ed for specie.
The Union and City Banks were crowded with
note holders until later period; but before ; o.
clock, the demand Tor specie upon those institutions
saokened oil TO such extent, that there was not
man in either Of them desirous Of obtaining cash
Tor ms notes, unSa,lShet.
SO tar from aay attempt being made to evade the
full force and effect of rcSumniion, the payit = tell
ers IN the resuming banks were doubled and tire
blcd, IN order to delan noic holders as little rs
possible. The banks "s'ood up TO their fodder
like Georgia MAJORS" aud made every exertion to
pay out rs fast the notes were produced. The
exact amount Of coin taken from the vaults, we
could not ascertain, but we were happy to remark
a feeling of confidence gradually taking possession
OF the puhc mind, and We noticed several persons,
who, under the previous excitement, had drawn
specie, returning il 10 the banks, being perfectly
satisfied TO exchange II tor tho same notes they
had so shortly before hurried over their counters
for the coin.
Had the Consolidated, State and Citizens, bank
joined IN the measure, there had been nothing left
or us 10 regret; It u.s. the resuming banks " 10
IN our opinion, weather the crisis IN fine style.
The notes OF the non resumius Banks arc nt a
discount OF course; and will continue 10 deprcciate
until they likewise resume.
We have been furnished with the following state.
meni OF the specie drawn from the various Bank.
yesterday.
The City Bank paid out $50, 900 and received OF
deposi,e ) Is ,000-loss SIS, 900. The Union Banl
paid out about s5O.OOO-Canal se5. 900. Commer.
cal $4,000, CarroHton about 1000, Mechanics 6
Traders iriAng amount, and the Bank of I.ouisi.
ana paid out $4,000 and received upon deposit IL.
0OO-makng in all diminution of about sl75 OOC
IN the specie of the reSuming banks.
L. S.-The Presidents of III, resumins Bank
have had a consultation, and are determined TO .,
ahead 1 he best spirit prevailed amongst them
and they are convinced OF their ability sustain
cash payments.