The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1854-11-30
nIonetnrx nnd Commercial.

been very much disturbed--so much so
that almost everybody and everything
we're involved in fog of doubt and un.
certain:y-have been, in great measure
quieted, and it must be remarked that the
events OF the week show a very material
improvement in monetary affairs gener.
ally; and as the smoke arose from what
may be termed the heat OF the crisis, is
cleared away. we begin 10 discover that
we were more "scared than hurt all a.
round. On Wednesday morning the
Mechanics & Traders branch Of the
State bank Of Ohio, at this place, suS'
pended. This did not cause much ex.
element, the notes continuing current,
and the deposits being small This has
been the only bank failure, since our last
weekly review, and we are gratfied 10
state, in addition, that there have been
no mercantile failures Confidence, in the
banks and the business community, con.
tinues 70 gather strength. As an evidence
Of this, we need only notice the large de.
cline in the price of gold. Last week,
confidence 10 banks had become SO much
reduced that the specie houses expert
enced heavy demand, and prices ad
vanced TO FIVE, eight and ten per cent.
premium. Spectators, believing that
these rates would continue, purch ased
Eastern exchange at q per cent. premi'
um, and ordered out gold. Much Of the
latter has already reached here, and finds
dull sale al to II premium, while
some Of the bankers are re.shiPping to
New York. The movements in exchange
are equally satisfactorily. The stro"g up
ward tendency was checked when prices
reached q and 3 per cent. premium,
parties-reterring to the course of affairs
in l838-predicted much higher rates
A large amount of Exchange has been
offered within the last few days, by Pork
operators and country banks, and the
market closes at and 2 per cent. pre-.
MUM.
The condition of the State Banks oI
Ohio and Indiana, and the old Kentucky
banks, is such as to inspire the public
with feeling of entire confidence in
their solyency and safety. The same re
mark may, with but slight qualifications
be applied TO the Eastern banks. But
few substantial banks have failed in any
portion OF the country, and no further
suspensions of consequences are appre.
hended. With reference to the Eastern
banks, the New York Shipping List says;
Thus far, it is some qualification TO
know our City banks with but one or two
Insignificant exceptions heretofore refer.
red TOY have wealhered the storm nobly
So, also have those of New England; and
despite the gloomy aspect OF the immedi'
ate future, we are not without hope that
they will be able TO maintain their posi-
ton unimpaired TO the end"
We copy from the New York Tribune
The following remarks with reference tc
the State Bank Of Ohio.
There are thirty,eight branches
The State Bank of Ohio is considered il
Ohio as the soundest institution in the
Union, and for the practical working o
the machinery, nearer the perfection o
a banking system than any other The
mother Bank, or "Board OF Control" SC
called, is formed Of members chosen by
each branch, who have power according
TO the capital of their respective branch,
es, They elect President and Secre
tary, not of their body. They are a cor.
poralon, but have no capital, and do nc
banking business except 10 control and
invest the safety fund Of the branches
and watch over, restrain and close up
delinquent branches. They have no
power in the local business Of the branch
es. except so far as may be necessary to
protect the public or other branches from
loss growing out of imprudence or fraud.
They have and exercise vistorial power
OF the most rigid character, and are au
thorized TO take instantaneous control OF
suspected or failing branch. A branch
has no power TO indorse over a note or
bill once discounted by ii. Such indors
ment would be absolutely void.
Any debt lying over six months is re
qured 10 be charged at once to profit
and loss, and if the surplus fund is not
large enough TO bear il, the circulation
must be al once reduced. Reports oI
the most minute character ure made
quarterly, under oath, giving the items in
detail Of every liability, and all assets oI
the banks, with the names of every ma.
ker or indorSer Of note held by the
bank. Monthly statements are also
made of the general condition of the
banks, and separate statements are made
to the Auditor OF State. The circulation
of each branch is registered BY the Pres,
ident OF the State Bank, and can never
exceed two for one Of actual paid.up cap.
itOl, and must always be supported by 80
per cent OF actual coin in the vault or on
dep p'st in New York or Philadelphia, sub
ject to sight drat. The branches are
bound for each others circulation, and
this circulation is always legal tender
in payment TO any branch, The condi.
ton Of the banks, as shown by the quar-,
ierly report, August |, 1854, was as fol.
lows:
Aggregate capital paid up.........$l $50 675 90
Notes aud bills discounted. ...,... 9,346,2l2 81
Specie. ....."................. ,j5l ,35l 30
Funds in New York etc. ..,,..... ! ,224 4sl 70
Bank notes; other banks. 57i i37 %
Real Estate ................... l53O67 73
Other Investments s.............. 4l0SH 70
Separate safety fund bOndgund mort vs Sl9O0g 80