The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1858-03-12

Total amount of interest on State debt
paid by the Bank 1472,157 95
The same table shows that the Bank paid
appropriations orimprovement drivers $3.50 &c
Total payments by The Bank from its orr
gin to list January, 1855 ,522 IS
PROFITS OF THE BANK.
Table shows that the aggregate profits OF the Bank
from its origin to January 1855, ,2660Ss 70
And that, within the same period she has
reduced her capital by the loss OF bad
debts, &C., 'ol,o'4 VIZ
sS,5O5,Ols 81
This amount includes the dividends
ceived upon the Union and Planters
Bank stock, amounting to ............. 1854 10
Which taken from the profits leaves as the
result OF the operations OF the Bank OF
Tennessee for nineteen and half years,
neat profit or. ACKNOWLEDGEMENTS. 8,SoS699 u
Table "a" also shows the rate per cent. per
annum. ranging from 6Sl00 to | 5 per cent.
which the Bank has made upon her capital.
1t is proper however, to remark, that the
calculations which produced this result are
based upon what is termed ''actual capital"
and not upon the amount of money actually
paid into the Bank as capital. This table
has for several years been fluctuating, being
diminished by the failure of their debtors,
and increased by the collection of debts
As it seems to be the object of the House
of Representatives to ascertain to what ex-
tent the funds of the State have been profita-
bly, invested in the business OF banking, and
whether or not it would be good policy for
the State to borrow money at six per cent.
per annum, payable at New York semi annu-
ally, to increase her banking capital, have
made an accurate calculation of the simple
interest upon each item of the cash capital of
the Bank of Tennessee from the date it was
paid in, as shown by table 3D." up to the LIST
Of January 1853, excluding the stock in the
Union and Planters Bank from this interest
calculation. and find that il the same funds
had been invested in State bonds, bearing an
interest OF six per cent. per annum, it would
have yielded profit Of $500, 1873 90
While the same funds used in
banking have yielded, as shown
above, n,t profit of only S,35S,699 II
Showing that at SIX per cent. the
fund would have ielded 25o,433 20
more profit to the State than the Bank has
made upon it.
But a more important consideration than
that of the amount of profit to be realized,
will be found in the fact that the investment
in State or Government securities is much
more SAFE involving less, vastly less danger
OF loss OF the capital invested; and the profits
while it is larger. is a sum fixed and certain,
which the State can calculate and confident
ly rely upon, and the whole operation is sim
pie and easy Of comprehension and equally
easy OF management, requiring very small
proportion of the time and attention OF the
Comptroller or Treasurer for its entire man.
| agement, without mourning the expense OF
keepinp nm the machinery Of banking es.
tabiisbment and the risk of losing the origi.
nal can;tal bv failures defalcations. insolyen.
o;es 60 40
The abatement If tho nro6ts Of the Bank.
M shown bv tail. ga VI hosed IN the sun.
nos;t;on nat ,ba a. oo1 ,s1 90 Of The pres.
ant means Of ,ho RAJ fas shown nv The re.
mort Of ths LAT of Ianrarv Is6s consisting
Of discountsd noteS hill. Of excbange. bills
and notes in sr;t &c. honds real estate
snec;e 10 40 ~ 81 nar valre and will he
rsol;zsd ana ;nst 20 ~ ax,ant ,ba losses are
susto;med in cnlIao,;nn % oonvart;ng tbose
$50. 49, ',a,' III a. at;,s as shnwr
ha raJnoSa '' ""' 'A' P''N'
On ,ss H., of Jonror, ,o.e ,bs Rank had
w Nv ~ 80, WI &c 80
~ ~. ~ oPe'aoa anu -
a"u VIZ ~ "nJa"s Io 49, a., M,
proves 'nae sue mas rea,ileu .eos 'nnh pa 10,
cent per annum upon tne aetea' cash cap'.a,
wn.eh que reserved. Win .n,s, - t .ne ,ons
an eApsrimens OIL nne.een ;au nd y1a.,
~ 'ne BUSINESS OF oank'ng, 70 sU;u PU';vy
.or .ne S'aee 70 borrow money, paying "n -
' 'u ., sM per cent. per annu'' sea"n ~.
my III new iork with eAehnnse' say onI pel
ceu1' 70 ruise money 70 iucren,e 'u' o"" Si;.
caP'tal' IL the Bank mas 'a,eu W ,es'.Ae
SIX per cent upon her cap'ta' here'o,ore,
what assurance have we that she VIII make