The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-02-03

The bad debts Of the bank in JAN ls45 were estimat
ed at $ss$77 and in JAM 1916 at 95 In January
is45, the doubtful debts estimated at $l0449 and
In JAM, 1916 at SIT 800 The last three semannusl
dividends have each been four per cent.
The aggregate movement of this bank within the past
two has not varied two hundred thousand dollars
and the loans and discounts not the period
varied ono hundred thousand dollars The movement in
each department has been very uniform, and the pro-
portion of specie to paper very firmly maintained This
bank has made quarterly reports. and to this fact at
tribute great deal of the regularity in its operations.
There is little danger of any very great sYecua
tive mania arising while the banks conne themselves
to such uniform movement exhibited in tho returns
Of the above bank II highly necessary that the pub
lie should be at all times acquainted with the aggregate
banking movement of the country, far possible,
that all operations connected with trade and
may be conducted understandingly; otherwise every
thing would be done in the dark; without fire..
qusnt returns from the banks there would be no
data upon which commercial transaction could be
based; there would be knowledge Of the value or
volume Of the currency Without frequent reports from
the banking institutions of the country should be
in complete ignorance of their condition. and under
the secrecy with which their operations would be
Quoted the most outrageous swndling business could
be perpetrated, and the public humbugged in every
shape. The bill holder would not know whether the
notes he possessed good bad Indifferent and he
would be, at any and all times, in danger OF loss by
hnving hand amount of worthless paper issues.
The times are at present prosperous and likely to
continue The banks at present in sound, heal
thy condition. generally, but will not continue so
less every check the Legislatures Of the several States
can. is not placed upon them. few years would suf
hce, should the banks simultaneously expand to bring
about revusion similar to that Of 1887 and 1885, We
have at present guaranty that the banks not pre-
pared and disposed to extend their operations and
fore they make much progress in infation would
be we'll for our Legislatures to perfect system
polling these institutions to make public from time to
time their actual and true condition. that commercial al
fairs may be regulated according to their movements
The Legislatures of several States have during the
present sessions granted charters to large number Of
banks and dozens Of petitions this moment before
every Legislature in session, for charters The Cover
Of Pennsylvania has put veto upon bank char
ter presented for his signature and the given for
refusing to grant it. viii apply to every charter that
may be hereafter presented The FIRST and most orcibe
argument advanced against increase Of banks in Penn
syvana, is that the banking capital Of the State al
ready large enough This argument will kill every
bank bill presented to the Executive for approval and
those opposed to the recharter Of several ohe deunct
banks in that State like the old Girard and othe need
have no fears a. these banks can be galvanized
under the administration Of Governor Skunk. There
appsar therefore, very little probability Of the banking
capital of Pennsylvania being increased at present
The Free Banking Law Of this State permits the
Enlistment Of any number Of banks there is limit to
it. Amy individual conforming to its provisions has the
privilege ofbecomng banker and issuing his The
banking capital Of this State must eventually, under
this law become immense and il appears plain that
alteration will ultimately have to be made that
law. The onstutonality Of the tree banking law
Of this State, contained within that placing
limits upon the Establishment of banks. II was ar
limit and appears to reasonable that any law
possessing that feature, should be unconstitutional
The free banking law Of Ohio 10 limited the amount of
free banking law should be limited II s time 10 take
hold Of these things. Before get under too much
Roadway in banking operations there should be some
of the many defects in our banking laws remsded and
improved.