Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1845-10-01

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tell him there will not b. 4 LOAD until next
week. HEAND EVERY BODY ELSE thinks
Ihduc TONS OF IT on The rau.
Per Mr.. H. Clark
SANny HUI, July |, 1919.
Jesse iioyt. Esq. Albany.
Dear Sir-Tlc enclosed Won will send by
the first boat, after reading il, Sc.
| seud YOU % 'rMls. You see how boldly
we come out. have dclibcrated long before
| vcutured it--but, as its part of my budget
! at ways and means, have at length cOnluded
/ to run the hazard.
/ ii the specie iorSChuylcrs note could be- OBJ
tanned. YOU could send it 10y the bearer
Send the papers ON SATURDAY. Tell me what
YOU think OF my buletin. Yours truly.
Il. +. BUTLER.
President Buffers manifesto, referred to i'm
the preceding letter, as a part of his budget
ot ways and means" and issued after Mr.
Bankers visit. Was as follows:
From the Sandy llill Times July 2, 1919.
The following communication ON the sub.
lcct OF the Bank in this place, may be relied
ON as coming from am official source.
For Tug TINES
! Washington aud Warren Bank-Thc cx-
element in relation to the paper of the Wash
Ington aud Warren Bank. beginning To sub
side, perhaps itmay not be ill.tined To request
the attention Ot the public toa few prominent
points connected with the operations and
character of that institution. The sudden and
unexpected suspension OF payment at the
Exchange Bank, together with other causes,
produced, very naturally, strong suspicious of
the Solvency oi the Washington and Warren
Bank, which were greatly increased by the
malicious and slandcrous reports of persons
who regarded It's success with jealousy and
hatred. The consequence was, the rapid and
veNatious return of its notes, accompanied
with demands for species, or for such bank pa
per as is equivalent thercto.-Mr. Barker,
ioresceing this result, and fearing that the
bank might not BE- able tn withstand The first
hoch, although confident ot ultimate success.
very fairly assured the public in his address To
them that the Washington and Warren notes
would all be paid 'oiihiH SirtV ddys without
promising that the bank would not be COMPEL
ed 10 suspend, for a short period the PAYMENT
OF It's notes. Ii was found. however. that a
course 81 unpleasant and distressing was I'm
necessary. aud that the bank by rcsorting TO
It's legal rights, ~ far as il respects brokers and
other banks would be- able tn ride out the
gale. and that too without pressing ,hosc that
owe the bank. 1t has continued, and will
. continue its redcmptions, and is abundantly
able To pay all its debts, fo the 'uttermost
iarthing.' The debts due TO the bank amount
To more than double their notes in circulation.
perhaps scarcely one that win not ultimately
be collected How then can any one b. a
loser by the Bsnk2
! Ii IL true that the Bank has not extended 10
spectators and bank agents, that prompt ac
Commodation which under flourishing circltm-
stances would probably been afforded: and il
Is also true that il has been engaged, and
CO. is now engaged i'll the payment of small
specie, 80 to persons OF that description; but
II must always be remembered, that the Far
mers, Mechanics, Travellers, and Tradesmen.
who have presented its bills, have been paid
i'll the most prompt and liberal manner Ii
must also be borne in mind. that the pressure
OF the times would of itself be sufficient ex-
cuse for many things, which, at a more propiti-
Gus moment, would be- deemed inconsistent
with the rules OF fair and honorable business;
and above all, that the course pursued i'm this
particular instance, is adopted for the express
! purpose, not OF iljuring, but of UNDERWRITING
, the public. THE BANK Is ABLE TO PAY.
and intends TO pay lis notes but il suppos,s
! that the honest yeomanry. who composes the
"bonc and gristle" of the land, are entitled to
every accommodation, in preference To greedy
| spectators and arrogant monied missionaries.
Those who have poisoned the chalice, have
no reason to complain, if with retributive
justice, II is presented To their lips" nor
even il they are compelled to taste portion OF
its contents.
President Butler 10 Mr.. Hovt.
SANDY HILL, July 3rd, lSl0-ll A. NJ
Dear Hoyt-All goes ON we'll. Caleb arri-
we'd last night with the reinforcement. Your
l"cNtrdct' vas well timed. wish YOU would
keep the Albany merchants back. It's rather
bad friendship 10 get our bills together, end
post them up here, say so days sooner than
they would otherwise come. At the worst
they would 90 into brokers hands, which is
the best place in the world for me. have
received very begging. coaXing letter from
Mr.. Olcott but as Wiswall's money is not half
| paid. don't trouble myself about il.
Yours, truly. b. +. BUTLER.
We cannot follow this interesting comespon-
dence, which is as rich this To .ho end
benjamin writes Jesse (July 1th) that lie has
paid out specie every literally since il arrived
but shall now hold up"-Duly l0th) THAT
VIII rather suffer the public 10 fret little,
than hazard the safety Of the Institution by
paying out too fast"-Qtte fear of that)-
| DULY lth,) that Il pay 700 to 81 900 daily
chiefly III sPccie-satisiying all fair and prop
er calls'-and Aug. 2lth) that the Bank will
90 on paylngin slow way" &c. &c. Mean
time Hoyt has inserted in the Albany Daily
Advertiser, an ''cXtHCt from letter dated
SANDY Hill June 9th" which Butler writes
him (JuIy 3rd) twas well timed" The sex
tract - as follows
SANDY HUI, June 20 1919.
The run upon the bank still continues but
the alarm IN this part of the country is wholly
subsided The appearance of MIR. Barker in
good health and spirits among us. satisfied the
people that the Washington and Warren Bank
would sustain no loss by his Temporary slls-
pension All are delighted with the accom-
modating disposition OF Mr., Butler the Prcsi-
dent. When there were more calls than he
could satisfy with his own hands, he called i'm
his neighbors to assist him in paying. Aud
when there were more than ali could attend
TO, he requested those persons that came in
with The bills, to lay them down and take az
many dollars IN specie as they left ia bills.
and retire TO give room for others. MANY came
and saw the counter loaded down with gold
and silver, aud went away satisfied that ali
was well and That SnHdy mn was not with
ont It's grains Of goid You may tell your