The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-09-01

For every dollar OF specie In. banks only
dollars Of loans and the old bias ks bu eight dollars Of
loans. The fifteen banks, with nominal capitals Of
Oh gcd buy 81 600 oao of stocks
for circulation large proportion OF the balances Of capi-
tai Is cek noit and this demand in six months for eight
lions Of dollars put into bank capital has been more
less elt and The hf cen banks which require il have
s,riven strengthen themselves with specie at the
pense OF the old banks and by doinx have made it
difficult 10 pay up their stock notes. compelling macy to
| renew.
In Two years ending with September 1851 the
10 baEk ca tal So go 600, in the oowing rear
$1,000 ooo and in the Iast 'iI months IS 600 Tbs
later is serious 10 wiihd'aw from o'her employ
men to invest IN banks, BAT II has boen distributed In the
upper part. the city, where unit, within few years.
bank. existed. Up the lirlc Low Windows
Sellers inscribed Bank, and the retail dealers in
the eighbohood by virtue Of notes Of hand, stock
holders entitled 10 disccun All the new banks are not
exactly OF his character but 10 obvious that il twenty
bank, held o52 $50 being all in the city tSepember,
1882 that 81 @ 600 Of specie, the amour, reported
enough hyfvc Lsnks II the number OF insti-
tuition. increase in this disproporon the quantity Of pe-
cie The scrambng for shae must continually become
greater Banking credit in he hope CT borrowing spe-
Gle pay certainly produce disssier 1.-The $4,000,
coo OF bank enpal had all been real snd, deducng
100000 invested in stock. for speculation. been sp
piled far necessary Tie purchase Of specie, the
sock nvailsble the banks would have sui
feed. Boz capital OF unpaid sock does enle
the specie, and IL be procured by daily
a-ciutsg balances IN its favor.
The accumulation Of specie in the vaults Of tho treasury
nerty 50 600, coo increase of about $1,000 900
SINCE Janusry IL to This ssiuAy acon OF the nderen
drnt treasury law that s.crbe tho check put
aon the bank mania II fifteen banks have so into OPP
with S9,oooooo Of credit capital in face Of the
steady action OF the specie olause," what would hsve
been the rca had that gambling spirit beea os'ered
by The aid and comfor" OF the government ia lending
them It's deposes Of gold and taken tei promises pay
In exchange Al former period OF our history the
d speculate IN banks rife, pied
by argciproR', than during The pss,H monh, But for the
drsg-cha In Of the treasury should have vcrged
ward. rploson IT, the wealth OF the country b-gn.
now 10 forward in payment OF ndebednc.s and the
heavy fall pa ymcnts Of the mefehsnr VIII be completed
by rrnancus country. without much aid by
discount
The amount Of payments made IN the city Outing the
month of Augus Ne estimated thoss The Tine Of dts
counts for the June ee5 49, averaging
probably 60 days papers which would givv payments due
the bsnk. In August sG 10000. The banks have
TALKED their disoouns .ppears s. 500 600 consequently
the merchants have paid in that than they
have borrowed They have sbo paid up 81 500 ono Of
bank capital. and paid s3.oo,ooo Of duties. The
So q = follows a.a.. le.1JE f@l
Bark capital psd aogoo
D~t,es imports 1000
fsid haBt sVfW
80 - a.. -,
These large payments have bern effected without any
ha. resulted The current 10 changed, and The bank
depo.ises hsve incre s.ed g. Htt.a.e.. Ns
Assunsto n Ansu.f - ~.