Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-08-19
No. 45.-WHOLE No. 400.

at the Western Land OficeS,& deposited
IN This Bank for safe. keeping. Deduc-
IIng Tits $4,000 IRON the aggregate
held by all The Banks, and il leaves the
amount at sos, 600, or 10000 less than
they had 10 April. This shows that tina
specie in the Banks is undergoing a grad
uaI reduction. Thus vaulsbes this part
Of The Sralesman's glorl6cation.
Now as to the increase IN the clfcu'a'
ton. 1t is true IN fact, that on the hrst
day Of June, the difference IN favor u
that date, over April was as stated SIolT
322. THIS difference was occasloneo'
we understand, by an experiment on inc
part OF the Lille Insurance and Trust Co..
TO throw out its paper, and sustain an
enlarged circulation. 10 the ABSTRACT
The circulation OF this institution 10 pun
al $50 965 in April, but 10 June IL haa
gone up 10 Sl56, $50. An hundred lnou'
sand dollars of the notes Of this BanI was
thrown into circulation at Cleveland, on
thirty days paper payable 10 Ne" YORK;
but we are told that a large portion OIL u
found its way back to Cincinnati IN less
than a week. and the Bank was compel
led to reIinqulsh the Objectit had IN vIew'
There has, however, been a slight H.
crease in The smoun Of the circulation
Of the solvent Banks though not enough
TO be P~erceplibIe at all 10 the community
1t Is confined 10 Inc Clinton Bank OF Co
Iumbus, which has issued an addition oil
about $50, 1000; the Bank Of Wooster
which has got out about $4,000; and The
Bank Of S~lhdusky, which has run up
abou, $50 COO; and the Bank Of MassIl-
on ~htrh has likewise extended Itself
a oIt 81 90 , 10 al $4,000. The most
Of the other ii Banks, are 10 The progress
of gradual curtailment. Perhaps there is
at Ibis moment 80 900 more in circuIa-
ton than there was 10 April, but any fur
Their increase Is not 10 be expected, as
the banks whose charters continue ten
years longer are probably up to their
limits or neatly so, whilst The banks thai
are winding up, are constantly reducing
their IssUes.
II will be recolIected that The charters
of 26 banks expire IN January next
These banks had a circulation on the first
of January last, OF 3,252,527. By The
first Of January next this must be mainly
withdrawn. The few Banks that re-
maiu may possibly keep up a circulation
Of six Or eight hundred thousand dollars;
or fly cents for each individual ia the
Stale.
Medary points to his fooliDgs, and ex-
claims exullingly, "let The enemies OF
resumlion look to it!" We know not
who The enemies of resumption re-
There were none 10 the present Legis.
!a,ure opposed TO resumption. The
Wings were in favor ofgraduoE resump.
ton. They would have made it easy
both to the Banks and tho community
II he advocates of destructive resump-
lion can find any thing in the condition
Of the currency, or the condition Of the
people that enables them 10 exult, they
are welcome 10 all they can make by
II.
10 the article quoted above from the
Statesman, the State Printer very
considerably observes that several of
The inle rior banks are winding up"
and that lit is The best thing they can do
in fact it's really the only choice left
them, and they deSeTre credit for adopt
ing that one, an Evidence Of returning
sense" Under the circumstances this
is a very sage remark. The Banks re.
lerred to as winding up are those whose
charters expire five months hence
That they have no other alternative but
to close their concerns by the lst OF
January next, a softer head than Sans
might have discovered; but that they
evirce any extraordinary degree Of"re-
turning sense" II adopting tho only
chance left 10 them, passes our cOmPre-
hensl0R.