, 1869-03-26
FINANCIAL AND COM MMERClaL,
m8NBTARE.
TuuHxpAT EvXn1H1. March

TuuaxpAT Kvxx1Ha March as
10th tarEsFs and borrowers ray that thu ststu
EcRty hiss not been 20 eayeEe 1t any lime ainr,
tbettrutia1 plIch for money 1t 1i,tle ARR ~.
lime last year. Up to The present un,s the d.,
EaEd las been ofa temporary character, \ ~,
mud hes sseff Recommendations, Tor shcrt re-
neFala OF paper falling dus, but which xcnernlx
ta'e 10 be repeated, showing that tho prns1nIe
1or 'uocey. which every body has regarded 4. oniv
"npossF. LES gradually run into settled xtr1n-
EsaeJ that ft llks'y to Last over month 1T
ba1k1ts NOW generally acknowledge that the
.ew e1aes CT ssannc1ts does obuxe them
Keep nofa money On hand in the
171is<a, iL5IscA Il .as.aN acknowledgement
tho quarterly statx1neaH made on the old plsn
wsfr uos, In the aggregate, iAIthful allowing OF
their average condition. Instead OF having at dH
tGnts On hand an amount In lawful money OF tho
DIited States eq1ii 70 Is per cent Of thels sggre
Eate circulation and deposits, As The law required,
II Is well known that ecrne Of the NattotM Banks
lad systematically run below thu Amount Of re-
eervo At all taE,ca except on the qutrte<ly state
rert Gays. Acd in the Beaeous Of naney plstho1s,
in midsummer, with 1uener ceule not be loaned
I. Is believed sLAt 4 oouNdttsblc proportion Of
he National Bsnks were frequently as Low In re-
tetyes ~ ten PEI cezt &nd occasionally
for few dUa A. nx u Ave
CT six per cent rnstcsd Of twenty.
Eve. Eow 1t Il a vtsJ modesata ~armata
to kay that n least ore-shtsd Of all tho Nat,onG
Balks in lbs country tit, under the fot1nes naodo
OF mailing B.ztcmenta, reduce theE reserves a.
leAs. e-ni.h belou tic lsg por csufa-r- II will
be tccp, N, By thc following fsusss that The
new uodn Ct making a'atements has N msde a
gteAt revolution IN oaIk management: Tho a2-
Erea&te circulation ane dc 7osl:s Of the 1,dSo Ma.
tiotal Banks the country, Was, to the
cfretai abtr.es OF tnci1 January quarterly report
xs63 $40 6a6 he total reserve required BY law
s9aipkt t-is Nas gaia, 400, ard II We ASSUME
that tpe.tetrd Of tho National Banks made It u
krr .H1r th.tr an
per ee1s in times Ct strinccucy lske the present,
We f1d thA, II made SIT s7 aE-tiaalc for loan.
tcg, that Il Is supposed u not available under the
l present tystem- When It Il considered that this
dlrlLution OF loarah.e iutds is c.uscd by the
barka locking up that amouu, Of greenbaeks in
thtir rAuls. It cAp Eeasaly bs seen hov 1t Is oat
Ct the ptu ct al c1utcs OF the p1eteEt ttrtc
7hcft ere doa>.lc.s plcnty CT peop'c, acd many
Alke1s, wLo A:e ready 70 cry out ttat The 1eseIve
IL too large, ard thas Al act sheuld be passed
Eak1ug II lese, OF that tbs Comptroller should In
Eone way let them know when To prepare
for = ttatclatII, 50 that they need not
10 uEctr the ntcesHty Of keeping It
or hand Ill the tirue. The law however, u good
one 4. 1t satds, the proof Of which ia that, even
1ncer The Hitherto Imperfect enforcement Of 1t IN
regard 10 resery.s, only eighteen National Banks
hare failed out Of tho seventeen hundred that
have betc organized airce the National Currency
Aci Naa passed. That it, ttqulrtmeots a1a not
oEertuE In rtKtrd TO feaervea, a. Is sontttaet
eouplAtntd, u evident ron the fact thai largo
proportion Of the banks haTs lived up to the Law
in that respect have Kept tteir Is per cent Of
seEvc on hand. ara It'll have been kkIe 70 make
ctv1de1 cs 0. non fifteen 70 twenty per cent pcr
acIun. Il IL platr then, that as lar II the effect
On tho balks themselves II concerned the lag eau
| be Iig.dlY ersctecd a1d do them 10 Injustice. II
is the public TIA, sud<z fos the3 luzncs INDUS cx.
pa1sion-
| The ,noysrerfR NJ er+rrr+x f.a.@ren 4ta -l .