New-York tribune., 1842-01-22
Cors;.ieu Of the Banks. ind.
L., Dissreas Hobs. i acebfntsm
Raau,,,tiouThc Veto. &c.
e--..x.end.ncs of The Tribune.


Having remarked in my former letter somewhat
generally upon the Currency OF this stare ana Is
future prospects, proceed now TO communicate
some statistical facts the same subject. rom
,he annual Repor, of the Bank COMMISSIONER
INSIDE abou, year since, i, appears that the PAID,
in capital o; all the Bank. n this State, at that pc
rcd organized and doing business excepting The
Clinton Bank of Columbus, and the Lancaster
Rank Of Ohio) was $9,l36,567 S9-the author
;,ed capital amounting 10 sl5,a00,ooe. The au-
.ho,i.,d capital of the two banks excepted were
rssosc,iyev $500 900 snd $500 600 II the whole
amount of these two was paid IN. the aggregate
active banking capital of the State, was 81 1885,,
5e7 50. Twas probably near this sum total
Since The publication OF that report SIX OF these
Banks have failed entirely, and one which was IN
Guided in it, statement. had then recently exploded
the aggregate amount of capital being $751;
ooe Ok This would diminish the amount OF active
capi,a at the present period, to $, I2oe4l Us
The Banks whose charter. expire, jan /, 1919
own 5.4Oi, 55S "a OF this amount, at which time
the aeive paid in banking capital OF the State VIII
be reduced TO 1881 ,OS5 10. Even tins pl'itnI
amour. is 10 be still farther reduced III lS44 10
50 500. O55 81 OF the banks expiring IN lSt',
there i, stock held by non-residents the amount
of 81 Os7 $50. 1t is not to be supposed that tho'e
stockholders will not be DESTROYS OF receiving back
their money, bat i, will be seIioas question TO
Ohio how she is to pay it, and how she can spare IT.
In the midst of these dithcute. and eInbarrass-
ments with certain destruction and ruin staring Us
in the face is it not strange that the political ma
isri,y in eur Legislature regard the coming shock
with perfect indifference, and manifest no dlposl-
ton TO make the slightest provision tor avcrtns
the terrible and inevitable consequences OF collect
ing the debts due so many banks, anu reimoursins
their capital TO the original stockholders !! 70 IN
teigent man can contemplate the coming storm OF
restriction, distress and ruin without shudderns.
You are ere this in possession OF the principal
circumstances attending the late disgfacetul VIOLA
tons of law and order at Cincinnati The work
Of destruction and piitering was confined to few
individuals, but it is palpabe that they were coun-
tcnanced and protected in it by the mass OF the
citizens. Such ou,rsgcs may be encouraged at On.
cnnati if the people Of that city please bit shall
be mistaken if the wrongs done and implicitly JUS
tlhed do not sooner or iatcr recon- wv
prudent and peaceablc man would settle or estab-
iish himself in such place. and the mob itself,
growing familiar with disorder and violence, will
soon cease to discriminate between the property OF
banker and other men, The mob-spirit is like the
tigers apPetlte-oncc having tasted oooo' nothing
but blood will satate its thirst.
You may have noliccd jacobinica speech in
the House of Representatives. here, By MIR. Nc
Nultv. n leading member of the Loco Foco party.
Throwing off all disguise and speaking the PLAN
sentiments of hi, mind, this gentleman. or rather
.Jacobin. said, that he Z" admired the system o.
ssttltRy bank Affairs recently introduced III Ctn-
ciunati-it tuas more eBsctaal than dnythiag that
could be done IN The Legislature. de wan'ed no
better light 20 brighten his path of duty than the
burning sdifces of svery Bank in The STATE; and
he should delight TO see the corporators them
selres hanging as high Hannah 5s!aceen
Heaven and earth. Mons, in his opinion, con-
sTtruTED THE ONLY TRUE SYSTEM OF BANK RE-
FORM AND HE WANTED TO SEE IT CARRIED OUT.
You will naturally ask me whether such man
can be in bis Ri ht senses, and IT so, whether 1t Is
possible that he can possess standing and influence
with the party with the public. can only an
swer that do not think there is any other member
| of the Legislature who would be bold enough to
avow such sentiments, but / believe there are
|
ence over the political airs of the State. What
the ultimate issue will be, cannot certainly be ere-
told bu, it is obvious that Fastening to
crisis. One more year will tell the story whether
Jacobnsm shall stamp its impress upon the public
policy of the State for the future, or not
Nothing has TRANSFERRED in the Les islaure since
nv last, ofmportance The bill to enforce Spe-
Gle Payment. has been under consideration tor
several days in the Senate, and is now nearly com
plele 1t provides for Resumption on the passage
Of the bill into law. The majority came together
! in December fierce for immediate Resumption but
it is now said that the Bank influence in the party
! is opposed TO early day, and are urging more
moderate councils | will not undertake to pre-
dict the result but should not be surprised If the
hard money men were to finch from the test they
have so vauntingly prescribed 10 themselves
Mr.. CLAY aud his colleague about to be en-
barrassed with instructions from the Kentucky Lee
gi.lalure, on the subject of the Bankrupt Law.
The resolutions in favor Of repeal have passed the
House of Representatives by u large ma ority, and
will be adopte in the other branch. This is likely
Increase the danger 10 the laws of the extra ses-
sion don know but we shall be compelled to
fall back upon Capt. Iyl0y, and rel upon the Veto
Those Wings who favor the repeal, have certainly
eaten Of the insane root Should the President
exercise the Veto upon the bill to repeal, Mr.
Clay 5 resolutions to amend the Constitution would
fall dead from his hands. Ishsuld almost be ready
to pronounce the third Veto an ample a.onemcnt
for the rejection of the Bank.
HlLDERRANn.
10 See proceedings in the Court of Sessions for
flare-up.
~ As We were sauntering up Broadway in the sum