The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-30
RHODE ISLAND.
TIE RHODE ISLAND BAsKs--anEfR POSITION AND
THEIR PhosPsrTs.

THEIR PROSPECTS,.
From the Providence Post, sept -
The failure OF two three OF the hunared bsak- o
ihs STATE rather early 10 the present financial crisis
sourh ino delrquenn verf never Rnoee lslaaf banks
Other In name, having been owned and mansged BY
pares to-eFn " STATE prompted here by the high
credit the btnrs or ins sssts have usy eroyed hs
reen the ground OF rather y sc eG0ri Of New
York brokcrs ard other ln.orered parties 10 escredh
Rhode Island bsrss The fact that the banks whce had
faec 10 NEE, ins'r oegscns were dc,ss sweseru bu.
and held Westen railroad bonds and stocks used
to give ths lmprer len that ch the securities generally
a eaa largely, held by the banks Of the state. Nov
-srrsps us iS ..ysy hs, The bauss Of ,h ss .rc ss
srd entitled 70 arre confidence thosc OF suy
saie In the Urion Tne nsbirhs Of the Ranks Of this
state the pubnc hsts Tor tnef clrcoiaon add eeposi
~ ubshy smaller per centsse upon the tai than the
tes of The banking tnsuors of any other section Of
me cou,iiy Ihs capital stock scusly psi in a thc
turns, IN round numbers fourteen and half msloss
Their whole chcusion, ~ s.certaned on the 26,h inst,
million hundred and siry eight thousand
dolsr, little than twelve per upon the cspi.
tai The total deposits d these banks upon The Gay
was enc million tish, hundred and cith' ,housand, or
less ihtn we've end half per cent upon their capital
Total of circulation and depots constituting their entire
liability 70 the public, three and bsN million dollars,
lees than twenty ave per cent rpon their capital Nor,
corrstrtg ine fscs that ,ness banks might lose three
kurihs OF their entire capital, and stu meet all ncr lie
bites TO the public. taken In csnneollon With another
imI orsnt fat, that the stockh5ders OF nearly al
these banks ndiviusly liable for tholr debus and
what IN the shape Of bank liability he regarded
sse,9 The country bsnxs Of the state would PROBABLY
sbov rather larger per ceniage Of circulation, and
less per oeutege OF deposu; In tns sggresats
about the per ccntsgo of liability 10 the puolo
Now, LET look at the New YORK bsnks and sec win
W.T. grace lie a. owftpg todirrasgo our bsnss In
paIn.h By the last ~eesly report Of toe bsns OF tina
city her deposits and crocis'ion amount 70 sghiyfour
and half uit us-seveD mill than their entire
capital rock asd specie uni cd II Ia true they have gene
reducing their osns and increasing their specie dung
TIE nra5cs crisis, but they have zone n only Vt the
saoEnce Of some o. tho OIL cat aud supposed weshesl
houses RI the city, and tue course pursued two
weeks lcrger win bring derucson such - has not yel
been dreamed o.
Nov for the Boston banks compared with thoss OF FRO
vdcpce Tie total circulation dep~lts of the Bovsou
bants, by their ror or toe 22d instant, nearly
twenty Millions or abou, sixty 20 per cent upon their
entire csplts Ordinarily tho foreign collections of ne
bsrp ofProvidence vorld rsy their circulation and do
yo~its IN . month how far tncse be calculated
upou, for this or ary ohsr Furrose, we viii hardly
ture an orinicr.
The report IF he eircuslcn and deposs or or cisv
hanks, for which &c Indebted 10 tas CoHfancss end
serycet of NJ E4efor, q me Rnk 0f Ngstn Ameria,