Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1842-01-15

ID. 100 III. II 80 49,
satisfactory performances o. Inc du''es Q
@-sg
TrtE n~rcryL,rrn AND rur u,Sns.--
There appcars 10 be n fixed determination
on ,,art If the lecisIature to take some f.
nal action relative TO the banks. The
question, for the present, absorbs the entire
attention of both ho,srs. G.. M. Conrad
and Randall Hunt. Esos. appear a, Inc
leading champions of The adverse sides Of
the question. the former in {, vor Of. tho Inf.
Ter opposed to an early resumption. The
mos, probah'o conclusion i. that Tia veal,
b,,hx vii, h. co,o,.llod ;,o m ,rrs re
n,,nt such as:--ro c@urtaiI their iss,,s ~
.A.. - -, :,
- ~ "NA' "'"' VI ''9''
VIII nave q greater amount OF bills out,
than can be answered for by specie in their
yn,,l,s or rood assats b.lonpiny 10 tbe,n.
sslvas. This ,el,c,;,n i, ,as;r c;r.,l,,;a,
" oo sfdauai' soy ~ 'eh per cent. per
month. The healthy banlss, thus relieved
from thu burthen of thor obliyations 10
,h,;, ws,ler ,,.;cb,,or. ,;,, \, ara,..a.,
.a,, .,,.,.... s.n-
'''' 'A'" own ''ts 'oa greater amount
thnn the us'iai regulations would authorize,
% that the curtailment nay not fall loo
heavily on t,,s community.
~, Mo,
"'''''' 'espeo''
ing the oanks iNas become so general that
al ass, nbly composed Of men OF al par.
ties was held in tho ST. Lo,,;s ,sxcb, ,,, |
q, Monl,v even;r. ,,st n, ,,h;,h a. re-
~ 49," y"
Pieafh''e ana fesolu'ions were
adopted.
Whereas il is the opinion Of the meeting
that whore n great calamity threatens a
whole community it becomes the dntv of
every good citizen 10 burv all feuds, all par.
~ feelings and to join hand in hand 10
u ert such calamity;
And where as this meeting fully agree
with the views expressed by his.cxcellencv
A. II. Roman, that a continuation of the
state OF things, among our monied
Institutions, can only load to the complete
ainand insolvency of these institutions and
10 the prostration Of every branch OF indus.
try and ccmmcrct.
And whereas the experience Of the last
four years has proved that no resumption
can be permanent, SO long as insolyent
or banks supposed to be SO, are per.
mi ted TO issue paper money, which enter.
ing the general circulation, may be forced
upon the people and thu solvent banks,
Aud whcreas'1hc solvent banks, or banks
To be, have been compelled IN
deteacc, gradually 10 retire their
'wn issues, and to use Mt their counters, in
heir daily payments, the notes ofthc weak {
,anks, greatly 10 the injury of said solvent
and to the public at large, ia as much
: the circulation Of such notes. driving all 9
out of the market, increases every !
lay the difficulty OF eXchanges; :
And whereas this state oi' things, b. fore. :
ng rapid curtallments, and combining the u
Of paper money almost exclu. a
lively TO that of the weak banks, (1-hereby :
no solvent banks really find themselves i:
OF their banking privileges. whilst o
circulation believed to be unsound is fore. $
d upon the pubiic,l has, at last, caused -
UGH alarm and contu ion in the communi. v
! as 10 have put a complete stop to all f
al9s of products, and to all business-all :.
.iiich unless quickly remedied by encrget. i,
ard ef3ctual legislative interference. :,
l,catcn the whole State with general ~
ankruptcy. =,
Be it therefore resolved. "
l.. That in the opinion of this meeting, !.
can save our banks and The com. :
from insolvency, and dreadful the ',
'nseqnenccs which must erssue, than the %
,media,e acton of the legislature: g
/. To protect The solvent hunks against tn
9 WosK'nss OF tue lnsolvent banks, by "
opaihs slch cosfcive measures as may pa
: 'hIo immeuia'e liqa.dation' all insuta. tn
- G,,;,s 49, - opI''o "''"- y
:. ia nro,aot tho aa =, wa 80 s,hn