Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-03-24

DARING the last II months the Ranks had in fact IN
ereased der business Now, they Snc they could not
resume without cur;ang: vet, sad MIR IL, thy d'd
IN, rur,au He himself believed that ony hmIieG
degree of curailmeut necessary 10 enable them L"
resume Here he stated the proportion {" com !" the
circulation OF the B.uhs "a" several years n'' from
the table referred H., w;!i be seen that u" proportion
81 ejaculation Ia the com has hat mprovrG, and
on the first of January last, that proportion was 81 IA
10 81 That, however, he considered a,"er an unsafe
criterion by which TO Judge The ability o the Banks 70
maintain specie Payments inf 'h'' c'Tcuia'o Vi CON
might be Increased without affecting their cash means
In order 70 form correct opinion of their ability Ia pay
spec,c their cash means and casa llao''u's ihus' o
taken into consideration. They told us that their Cur
cujton had increased and the balances due them from
other banks were less Their cash means 10 Their cash
labes are now us 81 10 81 81, lnst what 1t MAS m
ls4o but less than the year l-3o d" >il os the table
shows when The proportion was as - TO - - anu as
81 to 81 Al.
snonsb,litv that rested upon them had neglected oil
incarnation for resump:on and had increased their la
bl.,ies He spoke OF the liabilities OF The Virginia
Farmers and Exchange Banks. The North Western
Bank was N a condition better than that OF any other
Bank IN the Commonwealth and could resume ifniHe
aa,ely for its cash were 10 It's liabilities as 81
to SO o. Its condition was better than was ordinarily
the case in specie paying tunes In the Bank oil En-
GLAND when the bullion was to the circulation anu de
oosiies AS 81 to So condition regarded as per
fec,ly safe There no danger 10 be apprehend'd
If the Banks would conine their cash Liabilities to the
Inn, of 8 TO Of cash means. The whole amount OF
The loans of the banks of the State was St2f2o,eOc
their circulation was, according to the reports larger
fban in TN. wears lS3S 1910 and ISL, !hongh under
;he maximum allowed by law, which was to l.
Whilst he declared his preference Tor the Northwest
ern Bank and the Bank OF the Valley, he also mad 10
saw that the Farmers Bank of Virginia, was probably
in the worst condition OF for reSumpon-not even
eycept,nr the Mechanics Bank of Wheeling. The
capital stock of the Farmers Bank IS S2c0l,o21, aud
It's loans and discounts are S3,O2b,402 winch Shews
tins Bank has increased It's business anos, In the
lin Of twice Tie amount of It's capital scck us an-
rhorzed BY law So far from limiting their loans,
they are kept up nearly 10 the maximum. The Com
Inee OF Banks have expressed no opinion as TO the
condition of the Bank, but taking the statement oi The
officers correct he had no DOUBT they couu resume
OH the first of May
III. however feared that the statements did not show
ia actual condition ii the bad and doubtful debts
were wound up, he imagined the amount would be
douh y as much they calculated lhough Us amount
was stated TO be small yet there was @h)Voru OF COL
lars IA all the Banks upon which no 'nieres, mad been
maid Tor some time past besides, the Bankrupt law
would have its e.ltc, upon the Banks,hey would lose
largely by debtors taking advantage OF us povi-
sions The Bank of Virginia, too, would lose much by
is stocks For instance, it held stock IN The James
River and Kanuwha Company for which S''foOu0 was
paid and hich was now worth less than fluo,Ouo-
jbougb il was valued by the Bank al or SJ00,o0o-
All argument against resumption, he conceived was
now swept away 1t was not tive, Is was lately so ct
len asserted and believed that there wasa large amount
of the paper Of our Banks al the North IL was not
true that the Banks bad heavy liabilities there. Il had
been said that our Banks could nall the
Northern Banks do But tins not i5ce. The
Banks here could resume if they were IN good cond
ton How he asked, did The New England Banks
continue during the war to maintain specie pay
men,s; The answer plain. 1t was by pru
dent administration of their affairs. And why was
moi their specie taken from them Why, asked
MIR Hol!eman had the New York Banks been able
10 maintain the payment Of specie Gentlemen now
said IL was owing To The fact that New York was
the emporium OF CONFERENCE.-THE great settling point
of trade Did they remember The arguments OF the
bank men when those banks first determined to pay
spece, They declared that the New York Banks
woud fail that the merchants and the country would
be ruined by their course. The Philadelphia banks,
too made every eor drive them 10 SUSPENSION and 10
d,precjate their credit Notwithstanding The inposs!
bilty as was asserted of maintaining specie payments,
they did So and were applanded hy the country
Two banks in The Western part of Pennsylvania also
maid specie and do 10 thus very day. Why was not
n run made on them: The North Western Bank of
Virginia at Wheeling paid specie for years after the
o,her Banks had suspended. How do the South Caro-
lima Banks now pay spece-and why was their specie
moi drawn from them, when they were surrounded ny
nonspecie paying States, and their notes were at pre-
MUM, And asked Mr. II ,ce in worse condition
than every body else that Banks cannot pay their
obligations. Are we in worse condition man ,he
people Of North Carolina whose currency stands hshef