The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-08
FALLING oFFINB BANK DEPOSITS.

The Journal Of Commerce OF New York
has compiled a table from the reports of
the national banks of the United States
made to the Comptroller Of the Currency
under his cali for a statement Of their
condition for July IL, ls93 and has com
pared II with their condition on May 4,
1898. Some interesting facts are disclosed
by It. For instance, the banks Of New
York city had deposits on May 4th
amounting to s2S6, 80. Their deposits
on July 18th amounted TO s2i6. 736, $50, a
falling off Of 4O.24S. 400. The banks of
They had on July 18th $50. 042, 094, a falling
off Of s6,447,577. The banks Of Boston had
on May 4th sos. 125, 4s2. They had on July
18th $50, III, $685. falling off Of S, ,4GO.
The banks OF Chicago had on May attn
SIS, 7s1 ,O7S. They had on July 18th sec, 433. =
1876. falling off Of s9,347,7 37. Here then
is a falling off of the deposits In the banks
Of four cities. between May 4th and July
18th, Of $64,374.0l3. The falling off all over
the rest Of the country seems TO be in
something like the same ratio. But we
know that since July 18th the construction
OF the currency has gone forward at an
ever increased ratio. The statement of
the New York banks for last Saturday
showed that their deposits were s., 2S1 300
less than they were on the preceding Sat
urday. They lost this sum therefore In
one week. This loss Of deposit is directly
traceabie TO the silver legislation and its
demoralizing effect upon public confidence.
SO that our attempt to benefit debtors
by forcing people TO take fifty cents for a
dollar is destroying the debtors, because
creditors are calling upon debtors to pay
up before the time comes when they
must take fifty cents for dollar, and the
call is destroying those whom we wish
to help.
The well intentoned measure to enable
the debtor TO cheat his creditor is there
fore proving a boomerang 20 the debtor
Chat utterly ruins and destroys him.
One fact which this table Of the Jour
nal of Commerce contains is interesting
| to Virginians. The deposits Of the ma
| tional banks Of Virginia amounted on
May 4th to sl4,1S3. S9S. while those Of North
| Carolina were only si,404,I2t, those of
South Carolina were $780, $50, those of
Florida were s5.7S9,992 those Of Alabama
were s60iS.95l, those Of Arkansas were
s2,n6,467. those of Mississippi were $685.
| sic. those Of West Virginia were Sc, eo9. 773
and those of Georgia We're $3.50, $50, not
| withstanding the fact that Georgia con-
tains that hustllng little town OF At
lara, which humorously supposes itself to
be rival to Richmond. But, though we
must gently remind Atlanta that she must
learn 10 be contented with her fate, she
must be deemed. ON the whole. as doing
very well, considering her opportunities.
| A State which has only $3.50 $50 OF bank
| deposits cannot Of course hope 10 hold
a place with State having the princeiy
resources Of Virginia-sl4. 1888, S9S-nor can
the principal town OF such State hope
| to be taken into consideration along with
the capital city OF the other great State.
But. In view OF everything. Atlanta is
doing very well. and Richmond has moth
ing but the kindest feelings for her She
Will see TO II too that Atlanta does not
starve.