Evening star. [volume] (Washington, D.C.) 1854-1972, 1869-01-09
THE NATIONAL METR0POLlfAN

HE NAIIONAk VEL hOPuLtHAS
We feel, in common with our citizens, q
peculiar interest in whatever csucerns the
business interests Of our Metropolis, and espe-
clally when old snd time-ho ored institutions,
whose good name and history are thorou ghly
identified with that OF the national capital,
adapt themselves to the new order Of things
brought about by the political and financial
revolutions through which we are passing.
and, instead Of indulging in supineness and
useless regrets for the past, show themselves
fully equal to present emergencies, and capable
OF sustaining their reputation of by-gons days
and OF increasing the sphere Of their useful
ness.
THESE remarks are applicable in their fullest
extent 10 the bank whose name heads this
arti' IL, and have been called forth by the very
prosperous exhibit made IN the quarterly state
ment Just published, which compares iavorably
with any we have seen Whilst its item of dis
counts shows that il is thoroughly local
Institution, and uses its funds in the support
and building mp of the business interests of our
city, instead of drawing interest on call loans
III New York, the item OF s10,0OO to the credit
of the surplus 1und shows an addition of twenty
per cent to ITS capital. ard that due regard is
had to the interests of its stockholders, and to
the siren gthening of its resources.
Washington sadly needs capital, aud under
the stTingen usury laws which govern US, by
which so much money Is diverted from our
needs or kept locked up, instead OF b ing used
10 develope enterprise 1t is gratifying to notice
that in the case of this bank it recognizes the
needs of the community and is accommodating
them.
A brief sketch OF this institution at this iunc.
ture may not be inappropriate, as it is about
as old as the Capital itself, it having been in
existence nearly seventy yeark Us first Pres
ident, General Van Ness, who conducted its
affairs for thirty years, was the intimate friend
and companion OF Jefferson, Madison, Monroe
and Jackson, and many Of the great ones who
formed our nation and guided it in its totter-
ing infancy; and under his able management
aud tho-e associated with him. did great things
in building up and establishing many, who
have exerted a beneficial influence upon the
prosperity ana growth Of the nations Capital,
and secured for themselves wealth and high
position.
During the war of LIP, whilst the old hero
Andrew Jackson, was besieged in New Or.
leans, and when British vandals had burned
our Capitol and public buildings, and the city
presented the aspect Of a desert, jackson made
an urgent appeal to the President and Cabinet
for relief for his suffering soldiers. In their
need they called upon General Van Ness and
his bank, who promptly furnished a half mil.
lion, and the little army was relieved, whilst it
is needless TO say New Orleans was not taken.
jackson never forgot his friends in the hour of
need, and often spoke OF what the country owed
to the Eank OF the Metropolis for its noble and
patriotic conduct. He always kept his private
account with il, and when the deposits of the
United States Bank were removed this bank
was made public deposItary. Though great
excitement prevailed for long time this inst.
tuition bore it7elf manfulIy throughout the
storm without q suspension, though many of
the best and strongest went down. Its friend.
and stockholders focked to her support when
her very existence was mer aced. When called
upon to report TO the United Suites Treasury
what arrangement could be male to pay over
its debt Of deposits, Its response WAS" Mr..
Secretary. draw for your balance and it will
be paid on demand aud it was done No
DR. ever made by the United States Govern.
ment on 1t was sent back or refused, aud il
came out of the ordeal unscathed.
various attempts were after ward made to
annul its charter, and other wise impair its
power and influence; but they were unsuc-
cessful, and it continued on in its career of
usefulness and success until the rebellion. Its
presidents during that time were General J
p. Van Ness, J. w. Maury, and Thomas Car.
berry. After an honored aud useful existence
OF nearly three-scoIe years ana ten, the Bank
OF the Metropolis had become reduced to a con.
dlton of such humiliation that on the 22d of
April, 1858, its stock was sold at public auc.
ten. under an order of the court, at 3 x cents
in the dollar. Its capital had evidently be.
come greatly impaired, and its affairs seemed
10 be in very doubtful condition About this
time some parties organized under the national
bank law as the National Bank of the Me-
ropolis, and located themselves next door TO
the old bank. They subsequently failed and
went into liquid alton.
The old Bank Of the Metropolis finding their
name appropriated, organized under the name
Of the National Metropolitan Bank and in.
cooperating in their new organization an ac
tive business element, whilst selecting as their
President DIR. John B. Blake, and as their
Cashier Moses Kelly, Esq, two Of our bes,
known and most honored citizens, entered
upon a successful and prosperous career, hay.
ing succeeded In the space of i've years in put.
ting the old Bank in as proud a position as she
has ever occupied, with its capital stock in.
creased one-fifth by Its surplus earnings.
The aggregate loans of this ipstt,n,,on
amounted in the year 1867, to nearly two mil.
lion dollars, the average Of such being abou,
seven hundred dollars. The number of per
sons thus accommodated Were 26sg.
and though the money could have been
loaned here and elsewhere at higher rates and
with less trouble and expense, it would not
have helped our citizens. That this conduct
has been appreciated by them, the increasing
prosperity Of the Institution assures US, and we
have devoted this much space to the history
and conduct OF this bank from the belief tina,
all efforts and actions OF this kind, whether NV
corporations or individuals, should be encour.
aged, as upon such line of conduct the future
pro- perity Of our city depends
M DIR, BUSHNELL has removed to 18th St