The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-05-29

The whole amount of ,nking capital paid In the
first Of April last eight million nine hundred egh
Ave Thousand nine hundred sixteen dollars seventy
six cents, exclusive of the amount in the Winsted
Bank, which will be increased the present year three
hundred ninety two thousand hundred aud twenty
dollars, by tho amount subscribed to the four banks
chartered ut the last session of the General Assembly
that the whole Of banking capital In the state
paid In, will be 50 37y 038 70.
There is about and n half millions Of chartered
capital located in different parts Of the State that has
not yet been taken up and which the directors
stockholders have the right add to the above
amount OF $9378, O36 49,
The whole counted for directors Of banks
In this State appears by the returns of pr 1t to
$2sS ,662 10. This fact shows that the banks are
managed by who both lenders and borrow
ers, to any very considerable extent.
The aggregate cuiation Of the banks ut three diff
ferent perioas Of the year ending April I'd 1S49 Is as
follows
Aprll ISL 1896. S4,S9l265 06
October LIST 1848. NEUTRALITY-SUSPICIOUS.. 4O23 ,235 70
April 1st l649 ....... 45lI57I %
Showing decrease If circulation between the two first
periods above named Of sses O3O and between the
last increase Of 48S PAS aud at the last mentioned
period $4,000 less than April LIST, ls4S.
The aggregate Of loans and bills discounted
during the same periods above mentioned, Is fol-
lows, vis.:-
April lst lS4S Observation-Disclosures 1342465S %
October 1st, lS4S. ~ 3Sl O93 80
April I'd, lS49. 1910 59l OF
Showing increase Of loans and discounts since DC.
tober st 1S48 of S3504S7 "a and since April 1st lSAs
Of $3l5s87 o. which increase Is about the
az that capital and additional surplus made the past
year
The system Of par redemption in Boston, al
the entire circulation OF the banks In Connecticut
to ow TO that point where it Is redeemed by the SUI
folk Bank consequently funds have to be placed by
the Connecticut banks to meet such redemption, to
equal amount, di.honor and loss Of credit follow
therefore the real strength Of bank for its
Is required at that point All tho banks In tho State
redeem their entire circulation at Boston, in
about sixty the very small amount redeemed
At their counters, aud exce.t portion of those In
Fairfield county, who redeem about eighth In New
York The public have Of complaint that this
sautary check upon bank issues exists, as 1t accom-
plishes what legislation has eau, and at the
came time mpes the banks to keep their discount
line within healthy limit, which is not only beneficial
to them but to those who borrow money at their
ter and 1t enables the customer to obtain facilities
instead Of capital Although the system ut first view,
appears somewhat arbitrary, yet the practical operation
of 10 Of the greatest advantage to tho banks and OF
almost perfect security to tse bill holders.
The law Of last session re- ring ten per cent specie
In the vault of the bank upon the circulation, has
been complied with aud Il also appears that more spe
clio is received the than is called for in the
REDEEM of the bills Of the bank at that point which
proves that per il fully equal f-r all demands
from that quarter and also partially proves that the
public prefer bills tor ordinary business TRANSACTIONS to
.aDeci0.