Lexington union. (Lexington, Miss.) 1838-18??, 1842-08-20

ADDITIONAL quantity Of notes"
WI, p. $3.50, Jan. 1892. Mr.. John
in his speech in Congress on the
Bankrupt Bill, stated that there were
more insolveni debtors in this country a,
his time than al any former period. BY
a rapid transition we have passed from a
period Of unexamplcd prosperity TO dill.
lerent state"
v. %, p. 90 and OIL, Oct. 1922
LaDgdon Cheyes. in his exposition TO tie !
stockholders Of United States Bank, states
shat all the funded debt which was sale.
able, had been disposed Of, and The pro-
ceeds exhausted. The specie in the
vaults, at the close Of the day, on the 2ls
Of April, 1919, wac only $l26,747 %,
and the Bank owed The city banks, deduc-
ting balances due TO it, an aggregate bal.
ance of $40, 1875 90. The Bank in this
situation, the Office at New York VAS an
little better, and the Office at Boston a
grea. deal worse" aa.-Ft
V. %, p. LAT, Nov. 1927 Mr.. Niles
quotes from The the Maryland Republican
edited by Jeremiah Hughes, the following
paragraph; r##
"Whilst the customs on the importa.
tons Of the current year repenlsh the trea.
snry, and relieve the committee Of Ways
and Means, balance against US Of some
twenty millions Of dollars between the i'm
ports and exports will have to be settled
by the people"
Mr.. Niles remarked that Mr.. Hughes
was entirely right, "There is balance
against us Of about tweHly millions, to be
settled by the people. But howl Inquire
al the Banks; look at the prices current
Of American produce abroad. Gold has
disappeared; II is more OF a rarity now to
see half eagle than hundred dollar
note, scarce as the latter are al This time.
Many Of thuse Institutions can pay all
the notes they have ont but TO save them.
selves from bankruptcy, they will have to
bankrupt their best cpstopers. There is
a fearful looking for this slaie Of things
Such is the result Of the glorious uncer-
tainty Of trade" ,..a... s.. ..,.,a.a.
V. %, p. 200, Dec, 1899. aBANKs.--
The mama TO make new banks, tho the
best managed of the old ones can hardly
do business, and, 10 general, yield nc
more than five per cent. ger annum, ha'
broke out afresh. Some two or three
have been made 10 New jersey, andSsev
eral are projected in N. York"
V. %, p. $50, Dec. 1922. Mr. Miles
quotes letter from subscriber Of Geor'
gia Jos follows: 81 enclose you s. note
Of the Valley Bank Of Virginia, inadvancs
for my next years Register, Times are
getting a little better with us. This note
cost me $40 Of our currency, and there i:
a probability that exchange will be much
lower" I..
V.23, p. a55, Feb, 1929. More COOL
NEWS. Bills OF the Bank of the Common
wealth Of Kentucky, to an amount OF sew
en- hundred Thousand dollars, we're burn
al Frankfort on the 18th nit. A few more
good fires like this, and we shall begin tt
expect remittances from our friends il
Kentucky" aaa au
| V. %, p. 367. "Ken,ucky is going or
nobly in the work Of burning paper money
there was lately another great purlfica-
ton of the currency by fire; ST. 400, 00C
in notes Of the Bank Of Kentucky, beside.
the cunhagralion Of the paper of the Bank
of the Commonwealth, have been commit.
ted to the flames"
V. "a, p.5. In VIM. Fl. Crawford.
letter to Committee Of Congress, the fol,
lowing statement was made: "At the same
time it, (,he U. S, b. declared its deter.
minaIion to receive from the land officers
uothing but lis own notes and the current
coin OF the Union, except on special de.
posite. Shortly after this determination
many OF the western banks stopped pay
menI. The experience of the bank had,
about this time, led 10 the conviction that
it was impractIcable to keep its notes 10
circulation in the Western States, and or.
ders were consequently, issued in the
course of the autumn, or in the early part
of 1919, forbidding its Western officers to
issue their notes, even on deposite OF
specie, The determination which it had
formed in relation to payments on account
Of the public lands, was, therefore, practi.
caly a determination TO receive nothing
but gold and silver coin, which was nearly
as difficult TO be obtained in The Western
States as the notes Of the Bank Of the U.
s ates." ..
". "a, p, $40. From the Kentucky
Reporter. hear every day, iudustri-
ogs intelligent people say, Commonwealth
money, bad as it is, is better than none T!
Good hard money. circulates in every
| country in ihe world where there ara no