Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1854-09-20
BANKING CAPITAL.

Ie Ctate has DrancneS at Charlotte ElZaDetn Clty,
Fayetteville, Morganton, Newbern Tarborough, vii.
mington, and Windsor, and an agency at Milton.
The Bank of Cape Fear has branches at Ashevile,
Fayetteville, Raleigh, Salem Salisbury, Washington,
and Greensborough. The united capital of all these
Banks is something over five millions of dollars; and
their loans and discounts amounted fewmonths since
to between ten and eleven millions of dollars. Tho
specie on hand was set down at the same time at
about two millions of dollars Their loans and dis
counts incline to think are considerably greater
than stated above-we should say, for rough esti-
mate, that they would range 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 source 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 Bank at Goldsborough, for another at
Wilmington, for one at Plymouth, for one at Went
WORTH for one at Greensborough, for at Hills
borough, &c.
We have heard various opinions advanced on this
subject, but thus far the press, we believe has been
silent.
1t has been suggested, and with truth, that Will
mington 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, not equal to their wants. There
other points where Bank accommodations would
hoo oe 10 ool o:l -,
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 both
and at the same time charter another institution
here, to compete with the State Bank or one at Will
mington, to compete with the mother Cape Fear
Bank at that point These are matters for the con-
sideration of the General Assembly.
We cannot help thinking that all Banks are neces-
sary or unavoidable evils But as they cannot be
dispensed wth-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 prudcntly renewed or granted
and that these charters should be such to
the people against all danger of loss from issues
also be guarded against; for these notes, wearing
out as they generally do In tue hando of poor labor
ing men, are frequently lost to them, and The Bank
makes, of course, just so much more If any class
is to lose by the operations of the Banks let it not
be, if possible, the laborng class of our people.
We think it may be taken for granted that the
present general prosperity, high prices, and abun
dance of money must, sooner or later, meet with a
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, it to us 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
atng 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.
- That "RICn IRISH BRoGUE" The Bradford
Penn Gazette has the folloWinp canital hit at the