Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1854-09-16
BANKING CAPITAL.

Dirk OF the Otate OF NORTH Cafohna Bank OF cape
Fear; Commercial Bank Wilmington Merchants
Bank, Newbern Bank of Washington Bank of Fay
etteville; Bank of Yanceyville Farmers Bank,
Elizabeth City Bank of marlborough, Wadesbor-
ough; Bank of Charlotte, Charlotte. The Bank OF
the State has branches at Charlotte Elizabeth City
Fayetteville, Morganton, Newbern Marlborough, Will
mington, and Windsor, and an agency at Milton.
The Bank of Cape Fear has branches at Asheville,
Fayetteville, Raleigh, Salem Salisbury, Washington,
and Greensborough. The united capital of all these
Banks is something five millions of dollars; and
their loans and discounts amounted lewmonths
to between ten and eleven millions of dollars. The
specie on hand was set down at the same time at
about two millions of dollars Their loans and dis
counts we incline to Think considerably greater
than stated above-we should say, for rough esti-
mate, that they would range now between twelve
and fifteen millions.
The Literary Fund of North Carolina is invested,
to the amount of one million thirty-four thousand
nine hundred dollars in the Bank of the State and
Bank of Cape Fear and the nett income for Com
mon School purposes from this is not less per
annum than eighty thousand dollars The charters
of these two Banks will expire in 1860, and appca
ton will be made to the next Legislature for a re-
newal and extension of the same,
Applications will likewise, in all probability, be
made for a Bank at Goldsborough, for another at
Wilmington, for at Plymouth, for one at Went
WORTH for one at Greensborough, for one at Hills
borough, &c.
We have heard various opinions advanced on this
subject, but thus far the press believe has been
silent.
1t has been suggested, and with truth, that Will
mngton has need of more Banking capital Her
exports are large and constantly increasing and We
learn that the facilities enjoyed in this respect by her
business men, are not equal to their wants There
are other points where Bank accommodations would
be of service to business men, and would aid in
Drinking out the resources of the country.
1t is said on one hand, that good policy requires
that the State Bank and the Bank of Cape Fear
should be wound up; while the other hand it is
urged that it would be advisable to re-charter bnth
and at the same time charter another institution
here, to compete with the State Bank, at Will
mington, to compete with the mother Cape Fear
Bank at that point. These matters for the con-
sideration of the General Assembly.
We cannot help thinking that all Banks are neces-
sary unavoidable evils. But as they cannot be
dispensed with-as the spirit, the wants. the habits
of the age urge their continued existence and an in
crease of them it is of much importance that the
charters should be prudently renewed or granted,
and that these charters should be such to
the people against all danger of loss from over issues
The tendency to large issues of small notes should
also be guarded against; for these notes, wearing
out they generally do in the hands of poor labor
ing men, frequently lost to them, and :he Bank
makes, of course just much more. If any class
is lose by the operations of the Banks let it not
be, if possible, the laboring class of our people.
We think it may be taken for granted that the
present general prosperity, high prices and album
dance of money must, sooner or later, meet with
decided check. There may be crash, much insol
vency, and general pecuniary distress. No one can
predict with any sort of certainty, but all must per-
ceive, to u.s. that the present condition of
things cannot be permanent. This renders it still
more important that caution should be observed in
Banking operations, and in extending old or in Gre
ating new Banks.
These are matters, however, to be submitted to
the discretion and judgment of the General Assem-
bly,. That body will be charged with the demands
and wants of the people of al classes and pursuits
and will be enabled trust by information obtained
from all portions of the State to act to improve
the condition and enhance the prosperity of all.