The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-01-27
S5i2,688

railroad is in contemplation from Providence to Wor
cester. committee has been appointed to procure
charter, and the required for survey bubscri-
he'd This road would directly connect the great
manufacturing districts in Rhode Island with Albany and
the West than it enjoys; but the additional advan
tages would hardly compensate for the great expense
tending such an enterprise.
The political parties of this country have very lately
made great advances each other regards the prnci
pies Of banking bank has just been chartered in Ten
nessee and the restrictions placed upon in its charter
just and will prevent the possibility of fraud if
fully looked after The State Of Ohio, the third In
the Union has only eight banks in existence, with
mina capital of only s23oi745 The principle proposed
in that State in creating charters for the future is ind
vdual liability In banking this is the only safe stem
to adept In other pursuits, where corporate bodies
st and the capital the company is in many hands, and
where losses often under the most careful manage
ment is not necessary, but banks institutions tina
have the tremendous power and privilege manufacturing
money the most restrictions should be placed and
the most thorough Investigations repeatedly rcsored
to- to prevent detect fraud and embezzcment The
insertion of the individual liability clause in the charters
Of the banks, would create watchulness and anxiety
among directors and stockholders that would prevent
crime Ways to avoid laws plenty enough and indi'
vluals in many cases woud evade this but still the prn
ciple would work great deal Of good and keep out Of
the business many who now adopt it, wholly and solely
for the purpose of swindng the communities. There IL
STILL notwithstanding the great decrease vast deal too
much bank capital In this country The business over
done and consequently does not yield fair returns TO those
whose property is invested in IT, We have too much
pital engaged in banking for the safety ofmercantie pur
suits There is bank capital than the regular trade
Of ha country consume and the surplus seeks EN-
ploymcnt and obtains in channels that have very in.
furious effect the regular and legitimate movements OIL
trade and commerce. Tho banks in existence are
gradually reducing their capitals. In few years the
charters OF the be INKS Of Maine and New Hampshire ex
pire by limitation. Public opinion has undergone great
revolution within few years. that we continue to as-
sert that single bank i'll be rechartered single
chsrter granted without Its containing the rgo
conditions.
The Secretary Of the Treasury, in his report TO the
House Of Representatives makes tho following statement
in relation to the Mexican indemnity
Interest due April Goth, 1913. .......,. $500 93i
Commissions ............ 3,2s6
$3.50, o..
First insslment, July 20, isI3 80. .Sl4l020
Expenses @i'o' eioooo'
The second nstalment arrived few days since in the
Anahuac, from Vera Cruz.
The Legislature Of Georgia during the late session
passed the following laws regulating the banks Of that
State -
The charter Of the Marine Fire insurance Bank, sa-
'snnsn' extended 20 years. The BaLk Of Augusta Is