Cooper's Clarksburg register. [volume] (Clarksburg, Va. [W. Va.]) 1851-1861, 1857-10-16
What may be Expected from Most o
the Suspended Banks.

The following notice appears in the
Nashville (Tennessee) papers: sol
H g- BANK OF NAsnvIlLE.l
September rs. 1857.
In consequence Of the prejudicial and
unfounded reports relative 10 the solven>
cy OF this bank, causing large number
OF depositors TO withdraw their funds. be-
sides heavy demand for coin. We have
been forced to suspend payments for the
present. aIaa
We beg our friends to take no action
in the matter for few days. until ave
have had time for reflection as TO the best
course to be pursued. Our assets are
ample to pay all liabilities. and they shall
be faithfully applied.
N. HOBsoN. President.
w. WIRELESS, Cashier.
Within few weeks We have read at
least score of bank notices similar in
their wording to the above, and we there
fore take the annnnciation of the Bank Of
Nashville as a fair representation Of its
class. The reports complained OF by
these banks may have been. and no doubt
were. exceedingly prejudiciaI; but the re-
suit shows that. SO far from being un-
founded. they have every foundation in
truth. The bll-holders and depositors
were told. no doubt. that these banks
could not meet their deliberately assum>
ed obligations-were unable TO pay their
debts-and the moment they undertake
10 ascertain whether these reports arc
true or false--the moment they make a
demand for the redemption of promises
they are coolly informed by the banks
that they have been forced TO suspend
pay ments for the present." and, as if to
add insult to injury. they are also re
ques,ed to regard the suspension" not
as an evidence of bad faith. but as "a
measure of relief which these paper ma,
kers have graciously ,vouchsafed to sui,
fe'ing community. ignorant of the myste>
ries and blessings of modern banking.
False and malicious reports cannot
force solvent merchant into state oi
bankruptcy. They may diminish the
number Of his customers. but they can
not lessen the amount of his assets. II
he refused TO pay his debts until his
neighbors kept civil tongues. the officers
Of The law would End singularly efica-
cious way OF forcing him into a resump-
ton Of payments; and. so far from his at
tempt on his part to avoid or postpone his
engagements being regarded as meas
ure of relief by his creditors. they would
be very apt TO speak of it in the homely
and indignant language usually employ
ed by people when they suppose they
have been, or are bout to be. swindled.
eve beg out friends to take no action
in the matter for few days" says the
notice. "Our assets are ample to pay all
liabilities. and they shall be faithfully ap-
Piled" This is the old story. and. we
suspect. it will be attended with the old
results-delays, disappointments, and ru-
inous sacrifices. The depositols will be
settled with in full as soon as the parties
who have got their money pay their notes;
but as the money, unfortunately, was Dor.
rowed in many instances for purely spec.
n!ative purposes, and as there is Just now
q suspension in all speculative move.
ments. the chances are as one hundred to
one that these notes will be protested and
continue under protest for an indefinite
period. The condition Of the bill. holders
is nearly as bad; for as the circulation Of
such institutions as the Bank OF Nashville
is based upon deposites of State bonds. it
follows that one evidence of debt is to be
used to liquidate another evidence Of
debt-.hat debt has been employed to
multiply debt. Under forced sales ready
money. no doubt. could be raised from
these bonds; but if they are now selling
at from ten to fifty per cent discount.
what lower depths would not be reached
If these sales were attempted?
From the present aspect Of things. we
take It that the pretty thoroughly fieeced
public will not be troubled with many
more notices from the presidents and
cashiers Of most Of the suspended banks.
Washington U~ion.
oun "sUM PUnrkrs. For the graft
ficatinn Of ntr fr;nna. ..i ~.