The Washington union., 1858-01-31
SAs>N ~

counts. 4,6l9 Ol
Notes of other banks ACKNOWLEDGEMENTS 5,523 90
Checks ON other banks ks------------------ 386 %
Specie --------------------e- zo'Sos 30
207, ,37s rs
G. E. RITrENHoUsE, President
Georgetown, D. c. January 2, 1858
IA BANK OF rHK METROPOLIS. saj
Washington, Jan. s, 1858.
SIR herewith enclose to you a statement Of the
dton of the Bank of the Metropolis, detailing the as
sets and liabilities of the institution, requested in your
letter of the Esd ultimo, which, trust will be salts
factory the committee of the Senate. We do not feel
authorized to furnish you with list of debtors the
amount due by each, &C., &C. By such an exposure we
should be likely to lose all customers, and might be
made accountable to them in suits for damages. am,
however authorized by the president the cashier and
the trustees TO assure the committee that of them
the bank dollar, and this know to be true
They all gentlemen In easy circumstances, and sell
dom have occasion to borrow money from this or any
other bankccrtany not beyond their ability to pay
demand tf
The charter of this bank expired the 4th OF July,
1874 Before the expiration of the charter, July !.
1874 the whole property and effects OF the bank were
sold and transferred to trustees, elected ny the stock
holders BY this sale and conveyance executed in legal
form the Bank of the Metropolis became private nst
tuition such it has been carried since with
the full knowledge that every stOckholdcr is bound for
the liabilities of the bank think can say with truth
that the bank has had much of the confidence OF the
public since the charter expired 1t had before and
that it has been useful to the community, in all re-
spects before that time The bank is safe
ly and justly conducted and every accommodation a
fored to the public consistent with prudence No wild
specuatons here carried No purchases or sales OF
stocks, lands, property of any kind Nothing but
fair and legitimate system of banking is carried on
permitted to enter into business operations The
bank has high and honorable standing not only in this
community, but wide spread throughout the country
and trust that it will continue to be conducted as to
OH for opAu
This bank suspended specie payments on the 2Sth Of
September last after many of the banks east of had
ceased pay coin Although paid out, the day be-
fore the suspension seventy thousand dollars In gold
and silver had still large amount Of specie on hand
and in very sound and healthy condition but the
interest of the merchants and other business portion OF
the District required suspension We concluded that
it was best and yielded to public opinion. Many of our
deposito advised and urged it upon U.S. best for the
bank and for the community Our notes in circulation
only $40 $780, whilst gold and silver and other
specie funds amounted to $370078 IS. Since the
pension have freely paid out gold and silver to de-
postors and holders for all market and other
cessary purposes to the amount of $l64266 81 whilst
there has been paid into the bank in gold and silver du
ring the same period s223,6l2 05. Since this unavoid
able calamity fell upon the bank have not heard sim
gle complaint either among the deposors the holders
Of our notes. and there has been no just cause
for complaint.
These misfortunes will sometimes overtake banks,
merchants, and governments, and no human fore
sight prevent it, The present crisis like the cholera
to be travelling all the world and prostratng in
its the most wealthy and the most stable and
popular institutions. The city of Hamburg remarkable
for its wealth. and trading alone with SPECIE in the
range of this financial tornado and many of her richest
merchants have been stricken down and ruined by it.
do not doubt that if every bank in the United States
discontinued, similar crisis would every ten
twenty years but the people of this country too
entcrprising to be tied down to paying the cash for
everything they buy, everything they want In truth
there is not specie enough in the world to carry on the
h,civ cf hunk tu not sofa apI
useful to the community can be made SO, for it is
guarded, watched and protected to the best of skill
and judgment and much with the view of serving the
public of promoting the interest of the stockholders
In carrying our bank, private institution, we
have not violated any law rule of proprety We
dered that we had much right to carry on the bank
as we conduct IT, rs any merchant In Washington to
carry his business. Those who make depOsites and
deal with us find their own interest in it, The only in
ducemcnt offer to them is the regular and systematic
manner in which we conduct bank and the facilities
we afford them in carrying on their business.
beg that the committee will excuse for mention
ing Of the services which this bank has rendered to
the government when the treasury had no funds. In
1914 Col Monroe then Secretary of War; sent to the
Bank of the Metropolis by Mr. Madison to loan
of two hundred thousand dollars to be forwarded to Gen
eral jackson, then at New Orleans who out of sup
plies for his army and could not do without it, The
loan made and Immediately transmitted to the Gen
er Several times since that period the bank furnished
specie funds to pay the members of Congress, mail
tractors, &c. without interest compensation of any
kind when the could not otherwise procure
it in time to meet the demand This bank for
time the depository of the public moneys and afforded
many facilities In the transmission of funds to different
parts of the country at expense and risk For
years paid the pensioners at this place. without
any compensation whatever.
If the committee desire any further information in
laton to the bank shall be pleased to furnish every
thing that be useful
have the honor to be, very respectfully, sir, your
most obedient servant,
TTIOs. CARBERY, President.
Hon. JOHN SLIDELI, Chairman &c.
State ofhe Bank of The Metropolis the 3la of December
ft 1857, Dlclusice.
4ssi tt LIABILITIES. gta.
Capital paid in -------------- 1856, 800 90
Notes in circulation l24,4H rs
Due to other banks ---------------- 3S,658 36
Profit and loss account 1886 90
Unclaimed dividends S4, ,869 81
DepOsitors- 3l6,573 96
aa 33l ,443 So
S7l 1903 Ga
ASSETS.
Bills and notes discounted viz:
On personal security $393,76I IS
On domestic bills 64,48S II
On stocks ---------------- 9,3l5 90
On stocks on call 54,91S ~