Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1847-08-11
Increase of Bank PaDer,

There is much in the aspect of the times
to render caution on the part of bankers
and currency manufactures necessary. In
this State, the exposition of the affairs of
our banks being quarterly, and published
only long after the expiration of the year,
afford little data On which to form q COM
parison Of the increased amount Of liabili-
ties at any recent stated period, though
there are evidences enough that the curren-
cy is increasing in volume, and that, if the
legislature at hsnext session can be pre-
vailed upon to listen to applicants, the a.
mount Of banking capital and the number
of new banks will be considerably aug
mented. These indications point to the
same conclusion here in Pennsylvania that
facts have so conclusively developed in
other States For instance, the Ohio
Banks make the following exhibit, and
show an increase of business and of liza.
bilities, which we fear is too large and too
general throughout the Union:
In February, 1846, there we're
Capital. Circulation.
Independent Banks, ss66,s55 S476,738
16 Branches of State Banks, {, ,ooo, ,464 1855,
81 s7,so1, ,7s8 s4,5o5,se1
In May, 1547, we find the following re-
suit
9 Independent Banks, s1,1s7,713 s7o7. e64
Old chartered Banks 4,936,175 2se4.3s5
% Branches of State Bank, ,sl2, ,772 3,e7s,6s1
80 s1o,9a6, ,ee1 s7,2s1 ,o29
Showing an increase of six branches of
the State bank, and S2,775,I 1873 of circula-
ton. In the State of New York, we find
that the free banks alone have deposited
New York State stocks with the Comp.
troler, since the lst of January last, to an
amount exceeding two millions of dollars.
and OF course enlarged their circulation to
an equal amount. The Safety Fund Bank
it is estimated, have enlarged their circu-
lation one million of fdollars in six months
making total in the State of 5000. 600
dollars, which added to the increase in
Ohio, makes IN increase of currency. in
only two States, of SITS, 900 dollars. The
currency of many other States, it is beliey-
ed has been augmented in the like ratio.
1t is, perhaps, not beyond the fact to snv
that the paper currency Of the country has
been expanded O,000,00O dollars in twelve
months, and what is not the least or worst
OF this condition of things, the expansion
IS still gong on. In many of the New
England States new charters are granted
and the banks are organizing There is
no doubt the business Of the country has
greatly increased within the past wear, and
that com, the base of bonking, is probably
much larger than ever before. But when
we look back at the periodical fluctuations
that have in times past disturbed the cur
rency and the country, we may be excused
tor raising the inquiry awouid it not be we'll
to opauseY'-Philade!phia Ledger, (.Nsu.
trat tn Politics go
GENERAL TAyLoR.-The Pittsburgh
Post says that not long since the federal
papers made reference to letter. said to
have been written by a Lieus. w ashington.
OF the Virginia Regiment. in which he as.
serted that Gen. Taylor is Whig. and
favors Wing doctrines 1t. w. is himself
whIg, bat he authorizes the esprit of
Jefferson" !" printed at Charleston, Va, to
say that he has never written such letter
that, from conversations of Gen. Taylor
which he has heard, he declares that Gen.
L. Is not whig, that he is not opposed to
the measures Of the present administration:
and that he is determined not to identify
himself with either party. We would like
to know what party scheme they will next
adopt; Do get up something else, gentle
men, before the cold weather comes ON; or !
YOU vail die from, laeJ, ,f evciteyoon*S 40, |