The republic. [volume] (Washington [D.C.]) 1849-1853, 1851-03-21
The Banks OF New OrIean.,

We have thought it might be interesting to our
readers to republish the following abstract from the
last official statement of the condition Of the banks
of this city, made up by the Board of Currency.
and compare it with the last official statement of
the New York banks.
The banks of New Orleans are doubtless the
strongest in the Union, and to the prudence with
which thoy have been conducted may be ascribed
the soundness OF our commercial community,
The statement of the condition of the banks Of
the State of Now York, compiled from the last
quarterly returns, was made to the Comptroller of
that State, and we induced to invite attention
to some comparisons most favorable to our. banks,
and which certainly show that they either toe
strong or that those Of the Empire State are some
to be the truth, for there many indications that
excessive importations under Mr.. Walkers British
tariff of 1916, must soon turn the exchanges against
this country to such extent that neither the mines
of California nor the sales Of American securities
in Europe will suffice to settle our balances, which
must then be paid in coin.
In such event the pressure will be felt in diff
fercnt sections of country, in ratio with the
extension of credit.
Banks Of NJ Y. Banks Of ~. o.
2lst Dec, 1850. 22d Feb, 1851.
Capital. .:........ $40,s66.O0O $l2,367 $40
Liabilities ;. ........ ll0,s54,237 l7,762, 1872
Circulation ....... 2S.426,263 5,95l, I09
Specie. ............. ll,927,79S 7,6l4,3S5
Assets. ............. lOSs4lU,SZ 34,SZoyolZ
1t will be seen that the New York banks have,
for every dollar of liabilities, but lOS cents in specie
while our banks have 43 cents; and for every dol
lar Of circulation we have S / %, while the banks
Of New York have but AZ cents. The loans. dis
counts, and other investments of the banks of New
York amount to more than three times their ag-
gregate capital, while the same investments by the
banks of Louisiana amount to about double their
capital.
The banks Of the city of New York are not sepa-
ratey designated in the statement before US; we
know, however, they are very much stronger than
is indicated by the above results, taken from the
aggregate of all the banks of the State, and
quently those of the interior must be in condition
proportionately weaker
to meet a large demand for coin for expectation,
and received, in connection with those of the State
of New York, furnish conclusive evidence Of an ex-
tent Of overtrading, that we fear cannot fail, ere
long, to lead to disastrous consequences.
1t H., under these circumstances, the more graft
flying to know that the position and policy of our
banking institutions arc such to place them and
yond the reach Of the that at this time fore
bode serious trouble in the financial affairs of the
country.
STATEMENT OF THE BANKS IN NEW ORLEANS ON
THE I'D FEBRUARY, 1851
Movement Of the Banks.
Cash liabilities. Cash assets.
Sp paying. Giro. Total Specie. Total.
La. Blk. 2l6 1929 5,60l ,085 2,666,2 1867, 1878
Canal Bkl TAO 1926 $3.50, 800 1,573,I90 5,06l 1862
La st Blk ,05S, s95 4,93S, sos 2,040,S63 $685. 95
Trad's. ool ,965 a,ss2,o7l l,2ss,s73 4,4o4, 1873
Non-specie
citiz'sBE n,osl ll,sel 1901 1908
Conso-
dated. 25.l2i 25.s7a Io.26l lo.2sl