Слике страница
PDF
ePub

curiosity. This is an Indian, whose body is thickly at weaving, &c. 40 do. cordwaining, 24 at hatting, covered with long hair. The hair on the outside 14 at sawing stone, 12 at comb-making, 6 at brushof his hands and fingers, which is permitted to making, 6 at dying, &c. grow, is stated to be so long that he is enabled to tie it round his wrists. His forehead, nose, and every part of his face is said to be covered with hair. The Indians of his tribe are stated to pay him much respect in consequence of his superior sagacity and hardiness.

Maine. Joseph Dane, esq. is elected a representa tive in congress, in the place of Mr. Holmes, appointed a senator.

NORTH CAROLINA.-From the treasurer's report to the general assembly, we abstract the following items:

Total receipts for the year, ending 31st October,

1820

Balance in the treasury last year

Disbursements for the year

131,624

146,278 13

NEW-ORLEANS -We have two interesting statements of the exports from this depot of the west. One is an amount of the exports for 11 months, ending Sept. 2, 1820, as to quantity-the other the amount in value of the exports for several years. In 11 months ending Sept. 2, there were exported and remained on band, of

Cotton 120.440 bales-viz. to Great Britain 67,017: France 29,765; North of Europe 3,946, Atlantic states 19 116; on hand 600.

Tobucco, 28,970 hhds. viz. to the Atlantic states 13,886; the Hanstowns 4,132; sundry places the balance, except 1,200 on hand.

Sugar, 23,607 hhds.-viz. to the Atlantic states 17,607: western do. 5000; on hand 1000.

Flour 45,024 bbls. viz. West Indies 21,477; Gulf 277.902 13 of Mexico 3,283, Atlantic states 2,460; Great Bri 121,026 74 tain 2,783 on hand 15,000.

$156,875 39

Balance in the treasury $113,019 of which is deposited in different banks, 1815 and the remainder is in the public chest, in the treasury office. The inoney matters of this state appear to be very carefully inanaged.

Georgia finances.-From the Milledgeville Jour

1816

1817

1818

1819

Value of exports for several years.

[blocks in formation]

Total

9,749.25B

9,773,378

3.514 864 5,258,515

4.982.102 8,518,933 13,501,036

4,816,409 11,955,302 16,771,71* 3,883,907 8,753,171 12,637,079

nal, of Nov. 28.-We have the pleasure to lay be. 1820 (3 quarters) 3,807,975 6,494,997 10.302,972 fore our readers this week, a compendium of the treasurer's abstract, submitted to the legislature

DR.

$108,680 914
3,341 83

Alexandria, Nov. 22. -Arrived yesterday, in this

a few days ago, which we hope will be found satis-town, at the store of Messrs. Gibson and Lupton, factory. Bank stock owned by the state 1,005,000 King street, the waggon and team of Robert W. Hamilton, esq. from Hamilton mills, near Winchester, Va. with a load of fifty five barrels of flour, weighing eleven thousand eight hundred and seventy nine pounds. The team is composed of six horses; and the distance, which they drew this astonishing load, eighty miles. The weight of the waggon, ascertained at the hay scales, is 2,914 pounds, which, added to that of the flour, makes the sum total 14,793, a weight of upwards of 2,460 pounds to each horse.

For general tax from 1812 to 1819
Direct tax from 1813 to 1816
Vendue tax, tax on pedlars, fees on
grants, reverted lots, grants and
testimonials, and other articles.
Tax on planter's B and B. of Augusta.
Dividend on bank stock owned by state

Other articles.

[blocks in formation]

30,178 073
4,442 21
55,350 00
11,885 45
1,278 00

$215,156 484
479,339 96
$694,496 45

CR.

7,740 50 7,190 16 189,930 27 100,000 00

10,291 76
47,220 031
20,981 25

155,148 98
5,000 00
35,374 61
$578,877 57

$115,618 87 Maryland Penitentiary.-There are at present confined in this establishment 237 males and 52 females, variously employed! Of the males 72 are

Singular as the fact is, it was discovered by many of the citizens of our town, that the horses, so far from being wearied, on several occasions, absolutely trotted through the streets.

The length of the waggon is twenty-six feet eight inches, and made by George Bosteyon of Winchester; for strength and workmanship it is perhaps equal to any thing of the kind ever constructed in the state of Virginia.

Mr. Hamilton, the proprietor of this extraordinary team and load, we conceive is entitled to much His indefatigable attention to the im credit. provement of his horses, is amply evinced, by this amazing evidence of their strength. It will, no doubt, be recollected that this team ascended the Blue Ridge, and crossed the Shenandoah river, both of which are esteemed as difficult and dangerous parts of the road.

The driver entered the town with the national flag flying from the centre of his waggon, accompanied by a number citizens, whose curiosity prompted them to meet it on the road, affording one of the most novel and interesting spectacles which has been exhibited for a long time in this place.

Nashville, Nov. 14.-The sale of Hiwassee lands commenced at Knoxville on the 6th instant. One' township was sold, and the highest price given was thirteen dollars per acre. Some quarter sections sold at two dollars.

Naw SERIES. No. 17-VOL. VII.] BALTIMORE, DEC. 23, 1820. [No, 17—Voc. XIX. WHOLE NO. 485

THE PAST THE PRESENT-FOR THE FUTURE.

EDITED AND PUBLISHED BY H. KILES, AT $5 PER ANNUM, PAYABLE IN ADVANCE.

MISSOURI. So much has been said, written and published on the "Missouri question" that the peo ple, in general, are displeased with the mere sight of the words in print, and few are willing to read much more on the subject. Articles, too, have appeared on both sides of the question, which ought not to have appeared;-hard words will never obtain a victory in matter like this; railing begets railing, and opposition produces opposition. It is human nature even to resist a just claim, if indecently or improperly urged.

tion which was proposed to be laid on Missouri, &c. They have the offensive population, and no feasible plan has yet been contrived to rid them of it, if they were disposed so to do. Will the people of any of the states, so much alive to humanity, pass acts to encourage emancipation by agreeing to receive the emancipated-what will they do, what can they do, to assist the people of others to relieve themselves of their unfortunate condition? It is easy to use severe terms against the practice of slaverybut let us first tell the southern people what they Under these circumstances we should have pas can safely do to abolish it, before we, by wholesale, sed over the new crisis which the matter has arriv. condemn them. No one can hate slavery more ed at, but for the consideration that our motives than I do-it is a thing opposed to every principle may be misconstrued, as they were on another tha operates on my mind, as an individual--and, in highly interesting occasion. While we hold our. my own private circle, I do much to discourage it. selves irresponsible to any man or set of men for I am, also, exceedingly jealous of it, so far as it afour own opinions, "a decent respect" for those of fects my political rights as a citizen of the United others will always induce us to a liberal exposition States, entitled to be fairly and fully represented, of them, if the case requires it, ruth is often and no more. But I can make great allowances times elicited from the conflict of opinion; and the for those who hold slaves in districts where they hypothesis of Mr. Jefferson, that its "errors may be abound--where, in many cases, their emancipation tolerated when reason is left free to combat it," is might be an act of cruelty to them and of most seas a first principle in the mind of every genuine re-rious injury to the white population. Their dif publican, whether his complexion is bleached ference of color is an insuperable barrier to their by the northern blast, or darkened by a southern incorporation within the society; and the mixture. of free blacks with slaves is detrimental to the hapWhen the main matter in dispute was under con- piness of both, the cause of uncounted crimes. Yet sideration, it was our misfortune not to please either I think that some have urged their defensive cha of the great parties to it; yet both of them united and racter too far-without a proper respect for the agreed to the principle which we advocated, as be- rights and feelings of others, whose business it is ing both right and expedient. It is established (so also judge on the matter, as applicable to an exfar as large majorities in both houses of congress tension of the evil. But we advocated the com. can establish it), that the power to check the pro- promise, as fixing certain points for the future gogress of a slave population within the territories of vernment of all the parties concerned; believing the United States, exists by the constitution; but ad- that the moral and political evil of speading slavery mitted, that it was not expedient to exert that power over Missouri and even in Arkansaw, was not greatin regard to Missouri and Arkansaw. The latter er than that which might have arisen from redepended on many considerations of no ordinary striction, though to restrict was right in itself. The importance: the safety and feelings of the white harmony of the union, and the peace and prosperipopulation in several of the states appeared to be ty of the white population, most excited our sym involved in it, and the rights and feelings of others pathies We did not fear the dreadful things which were as deeply concerned in the subject at large. some silly folks talked of, but apprehended geoIn this conflict of interests, among persons who pos- graphical oppositions which might lead to the sibly desired the same ultimate issue, though their worst of calamities. We had no pleasant feeling views of it were diametrically opposed, a spirit of on the compromise, for bad was the best that could conciliation prevailed and a compromise was ef- be done. Nevertheless, we hoped that the contest fected. The people of those sections of country was at an end, and that things would settle down in which there are few or no slaves or persons of and adopt themselves to the agreement which necolor, very imperfectly appreciate the wants, necessity imposed.

san.

cessities or general principle of others differently Thus situated, it was with no little concern that situated. Collectively, the latter deprecate slavery we saw in the constitution which Missouri was about as severely as the former, and dread its increase to offer for the sanction of congress, new causes of but individual cupidity and rashness acts against collision. The objectionable provisions cannot be the common sentiment, in the hope that an event of any use to the new state, as to the things which which every body believes, must happen, may not they aim at. We are willing to believe that they happen in their day. It is thus that too many of were unthinkingly introduced; but they have the us act about death; we are sure it must come, yet appearance of braving opposition, and of manifestwe commit wrong to acquire property, just as if ing a spirit which the meekest inan feels disposed we should hold and enjoy it forever That the slave to resist to say nothing of one of them as being population will, at some certain period, cause the contrary to the constitution of the United States→→ most horrible catastrophe, cannot be doubted that to prevent the emigration and settlement of those who possess them act defensively in behalf free blacks and mulattoes. It appears that some of of all that is nearest and dearest to them, when they the former and a number of the latter are entitled endeavor to acquire all the strength and influence to bounty lands, for services rendered in the late to meet that period which they can; and hence the war: if their lots should be in Missouri, it is idle to political and civil opposition of these to the restric-l pretend they may not settle upon and enjoy them, if

VOL. XIX.

-18..

they please. But we are not disposed to examine therefore, a favorite, even with those on whom it the subject in detail--the principle adopted by the bears unfairly:--because, when we purchase a convention of Missouri, to give our opinion of it in pound of coffee, for instance, though we know that a few words, is destructive of the federative charac- we pay five cents on it to the government, yet the ter of our great compact, and may just as well ap tax is embraced in the common price of the article, ply to the exclusion of persons with black hair or and we are not sensible of it: but if, instead of this blue eyes; and no one can seriously apprehend in. a tax-gatherer was to appear monthly, or quarterjury from the emigration of free people of color to ly, or annually, at our doors, and demand five cents a slave holding state. It would be about as reason- per lb. for every pound of coffee which we had able as to expect that the Mississippi will discharge used, we should not always be disposed to treat her waters into the lakes, instead of naturally to dis- him very courteously. embogue them into the Gulf of Mexico. The re- The principle by which a revenue is raised in a sult, in the house of representatives, was anticipat- monarchy, is to cheat the people out of as much of ed; but we did think that both houses, with large their earnings as the necessity of the state or the majurities, would have so decided, as to striking prodigality of its rulers requires-but in a repub. out the offensive provisions, for the sake of harmo- lic, it should be to make every citizen sensible of the ny, in the spirit of the compromise: all would then amount which he pays, that he may keep a jealous have been well, and a great deal of time, trouble eye over its expenditure--as he would, if the pub. and anxiety saved. We totally reject the idealic affairs were as his own private concerns. Every that any thing which it is the business of congress one should pay according to his ability, and should to do, should be left to the judiciary or any other certainly know and feel what he pays. He would power. With due deference to the eminent gen- then think about public men and measures, and the tleman who proposed it, we regret that he did it; most prudent and discreet persons would be electfor had his plan been adopted, who can tell where ed to office, whose practical knowledge in the ma the precedent would have stopped? But we think nagement of their own affairs, should guarantee a it more strange that, because Missouri was empow- solid judgement as to those of the nation. Our ered to make a constitution, it should be argued public papers, too, would exhibit a different ap that congress was bound to accept it. Why, then, pearance: for the people would require that they are constitutions offered, referred to committees, should be divested of that official obscurity in and sanctioned by both houses? All this is mere which they are too often involved. But now, if we mummery, if they are to be accepted at any rate- cannot understand them, we pass them over lightas contended for by some of the members. No one ly, because we do not feel the necessity of looking wishes harm to the people of Missouri-they are closely into them. Congress, instead of being 2 of our own kindred and lineage; they may have body of talkers, would be an assembly of men do. urged their claims imprudently, and, in our belief, ing business, like the representatives of the peohave mistaken their true interests-but they have ple of Holland, when contending for their liberties a right to judge for themselves; and if that judg-with Spain. We should rturun to the doctrines and ment is repugnant to the general opinion or prin- practices which were fashionable a few years ago, ciple on the matter, they will yield it, we trust, to the law, and respect the majority.

but now exploded as if they were ante deluvian. We love republican truth and simplicity, and wish that every man's "yea may be yea, and nay nay"in the letter and spirit of his words and actions.

We had written thus far when we first saw the resolution offered by Mr. Eustis, in the house of representatives, on Tuesday last-see page 278. It There is no one sort of taxation that will bear precisely meets our wishes, so far as it goes, and equally on all, nor, perhaps, any system which will may accomplish all that either party is really just accomplish so desirable an object. But our present now disposed to contend for. The anti-restriction mode, relying mainly on the duties on imports, is members, as well as others, regretted the ex- extremely unjust and also very uncertain. A few istence of certain clauses in the constitution of years since those duties produced 36 millions to the Missouri, as unnecessary, and calculated only to cre- treasury; in the present year they will not give more ate doubts and excite opposition. Let them be er-than about 14 millions, and perhaps hardly twelve punged by the unanimous voice of congress, and in the year 1821. Besides, when we want revenue then we shall hope for an obliteration of the feel the most-in the time of our need, they produce ings which this unfortunate controversy has given comparatively nothing. It is evident that a system birth to, and that all will be willing to disavow secmust be devised-we are to shove it off another tional interests within the body of the republic the peace and posperity of which can only be maintained by a spirit of forbearance and modera tion:-and, if we must differ in opinion, letļus differ Jike rational beings, and grant to others the rights which we assume for ourselves, always recollecting that the fairly expressed will of the majority must govern.

TAXATION. The original draft of the articles of confederation and perpetual union, between the several states, had these words:

All the charges, &c. "shall be defrayed out of the common treasury, which shall be supplied by the several states, in proportion to the number of inhabitants of every age, sex and quality, except Indians not paying taxes, in each state."

How much more equitable was this, than the present mode of supplying the treasury-but the

year by borrowing money; but if the demand for our products abroad is not increased, whereby we shall be enabled to pay for foreign goods, it is evident that internal taxes must be forced upon us; and we trust that when they are, the matter will be so managed that every citizen shall be made to feel the amount which he pays, as far as the same is practi cable. We wish the republic to live forever; and are of opinion that the best guarantee of its duration is in responsibility, bottomed on knowledge, and an adherence to the principle that the business of the state is every man's concern. The progress of luxury hath done more to weaken the bonds of the union since the late war, than a war ten times severer than that could have effected, if we had been prepared to meet it according to the means of the nation-which we were not.

THE FLORIDAS. We have sundry fresh reports latter is most convenient and less odious, and is, that Spain has ceded the Floridas to us, and st

44

In this way the laws would be effectually circuzen at a trifling expense could obtain a copy of lated without any charge to the nation, and every citithem in a form which might be preserved with ease, and referred to with convenience. Federal Gazette.

length fulfilled the treaty. When that treaty a certain day in every year, so that the whole numwas concluded, almost every body was in raptures-ber wanted, and actually paid for, might be known it was spoken of as a proof of the consideration and before the end of each session of congress. sagacity of the government, shewing its paternal care of the best interests of the union, &c. now the opinion prevails, that the Floridas must But naturally pass into our hands-it is regarded as a thing of course that we shall possess them-and many want the province of Texas, because we have not land enough!-because our population is too thick! Texas is a rich country-it will produce sugar cotton, rice, tobacco and bread stuffs, and is therefore very valuable: so is Mexico, New Gre. nada, Venezuela, Peru, Brazils, the provinces of the Rio de la Plata, and Chili, for these produce silver and gold and diamonds: let us have the whole-nay, let us contend for that newly dicovering to 90 dollars, will be retained in the country, ed country in the high southern latitudes, where seals are as tame as kittens." We want more land we have not room enough-the sphere of the republic is too contracted!-Let us beware of this Over-reaching propensity. our territory is large enough already. Too large, I sometimes fear, for 20 the well being of the republic.

cult to balance those which exist.

ciety of Montgomery county, N. Y. among other DOMESTIC MANUFACTURES. The agricultural þ0premiums, will award $20 to the lady who shall attend the next fair in the best homespun dress; $18, $16, 814, $12. $10, to others of minor character. The award of these premiums, in all amount

and probably keep within the county many times its amount in the course of a year which would have been sent off to purchase foreign goods. And the effect may be lasting; for no doubt, many beautiful dresses will be exhibited, and some of them will becunie fushionable. If so the business

is done.

Bank of the United States.

We have have not altered our opinion as to the acquisition of the Floridas; their local situation makes them necessary to us-to the safety of several of the southern states, and an immense commerce which must be defended. Its ports are inAs there is some shew of speculation in the stock dispensible to that defence, and the sovereignty is of the bank of the United States-and a current is needful to prevent insidious attacks from our ene- the cost of the honest and unsuspicious, we feel it working to make a profit by the designing few at mies in that quarter. But having obtained these, we trust that the nation will be content, and not waste a duty to offer the following facts and probabilities its strength by dispersing its population any fur. to the public consideration, which are drawn from ther, nor lose its force by giving rise to new inte- the statement just laid before congress-see prerests and feelings. It is already sufficiently diffi- ceding number of the REGISTER page 248. In do. ing this we have no other object than to shew those interested, that they should “look before they leap." Previous, however, to entering upon the main subject before us, we may simply remark, that the request of the bank that other persons than the president and cashier should be authorized to sign its notes, is very extraordinary, when the fact is exhibited by its own statement, that the bank and its branches have on hand 6,295,990 dollars, being more than one half of the aggregate amount which has been issued! Seeing this is the case, we are now appre The mode hitherto practised under every admi-hensive that something more is meant than meets nistration, of causing the laws to be published in a the eye, and hope that the matter will be understood few newspapers, circulating only among one parti. cular class of citizens, and not seen by one tenth The committee of ways and means of the house of part of the nation, is evidently partial and imper-offered on the 14th of April last, [see Register, vol. representatives, in the strange report which they

LAWS OF THE UNITED STATES. In this country, where the rule prevails, that "ignorance of the law excuseth no man," the publication of the acts of the legislature, in such way as to give every citizen an opportunity, at a reasonable rate, to obtain a knowledge of them, is a duty which it would be highly culpable in the rulers of the nation toneglect, to perform it in a partial way, is scarcely less culpable.

fect.

before it is acted upon.

XVIII, page 141] presented the following item as
among the "means available for 1820"

"Dividend from the U. S. bank, probably 6 per cent. certainly
4 per cent,
dells. 290,000

This subject is now under the consideration of congress. We will suggest to them a much more cheap, impartial and effectual plan to distribute the laws. A copy of the acts of each session of con- Now, the committee must have known, we should gress, printed in a pamphlet form, can be furnished suppose, that a dividend could not be expected, at to every citizen of the United States for TWENTY- any rate, before the 1st of Jan. 1821-and yet they FIVE CENTS; this very reasonable price would be esteemed the anticipated receipt as one of the recheerfully paid by every citizen who wished to have sources for the year 1820! The secretary of the trea a copy of the laws; and, if thirty thousand or more sury, in his late report, calculating the probable re copies were printed and sold at that rate, the pro-ceipts of 1821, puts down the bank dividend which ceeds would amply pay all the costs of printing, pa-MAY accrue during the year," at five per cent. or per, &c, and a commission of ten per centum to such agents as might be appointed to distribute or sell the copies.

$350,000; just the sum which the people of the U States will pay to the bank for the 5 per cent, stock which it holds as a part of its capital; affording the The postmasters throughout the United States, hope that, in 1821, we shall not lose any thing by would be the proper agents to distribute the co- that institution which is a very comfortable pros pies of the laws; and to prevent any risk of print-pect, indeed!-seeing that we have paid it 350,000 ing a greater number than might be necessary-it dollars a year for "nothing at all,”. But the secrę. might be so arranged that all persons wishing to tary does not say a word about this. The payments obtain copies, should make application to the near-to the bank are merged in the general acécunt of est postmaster, and pay for them in advance before the interest on the stocks, and not thought of!

We shall now proceed to offer the facts and pro. | The amount of the stock is 35,000,000—
babilities which belong to the prospect of a divi- Dividend, at 6 per cent. per annum,
dend during the year 1821, of which every one
will judge for himself.

Items for dividend.-[ See the notes.]
Discount, exchange, and interest,
645,725
Profit and loss, and contingent (1) interest, 2,668,244
Add probable accruing amount, &c. to
Jan. 1821, (2)

[ocr errors]

2,100,000

2,550,000

To produce 2,550,000 per annum, discounts must be made, or stocks, paying 6 pr. cent. interest, must be held, to the amount of 42,500,000. Nothing like an amount equal to this can be safely discount322,861 ed by the bank, for the reasons set forth in note (4); and in the present prospect of things, the only $3,636,828 possible way left, by which the bank can make even six per cent. per annum, is, by loaning money 2,500,000 to the United States, or by shaving drafis- Both 775,000 which it much desires to do-see the remarks in the 199,547 last REGISTER. If it takes up the projected polic 8,200 loans at five per cent. (as it probably will gladly do), the amount of paper discounted, or of stock 150,000 held, to make the dividend of 6 per cent. must be 260,000 proportionably increased It is thus demonstrated, 1,200,000 | that it is the interest of the bank of the United States,

Items against dividend.-[See the notes.]
Probable loss on certain loans," (3)
Do. on the rest of the loans at 5 pr. ct. (4)
Do, on overdrafts, 199,547, (5)
Interest, &c. to Baring, brothers, & Co.
Expenses, 89,718 for 4 months, for the
6 months, (6)
Deficiencies, (7)

Probable loss on a certain debt, (8)
Amount per annum, to profit and loss, for
bonus, permanent expenses, &c. (9)

[blocks in formation]

that the government of the United States should be in150,000 volved in dificulties and debts-that our expenses should exceed our income: hercin we see that the 6,949,747 bank may operate on the government just as the 3,636,828 fundholders and dealers in the stocks do in England, which we confess was not apparent to us before now, and about which we shall speak more at large hereafter. It presents the bank to us in a most unpleasant aspect, and causes us more and more to fear its influence..

1,605,919 To say nothing of the interest on the two millions borrowed by the bank of Baring & Co.

Of course, if our estimates are tolerably correct, There is another item about which we shall only (and we feel confident that they are more favora-say a few words just now. The specie capital of ble to the bank than its own exhibit may justify,) no dividend can be declared in the year 1821, unJess after the manner of the former dividends, which we do not suppose will happen.

the bank is represented at nearly seven millions. This would justify a much larger discount than it makes-but why, with this mighty idle capital, does it unnecessarily press and teaze the state banks, and yet owe upwards of two millions of dollars to Baring, &c. on which it is paying an interest to foreigners? Why not purchase bills and liquidate the debt? We cannot understand the policy of this procedure. It does not come home to the comprehension of common men. The negociation may have been prudent at the time; but why, with the present unemployed capital, it is not relieved-is a question for the stockholders.

NOTES.

If we had been disposed to swell the amount of the minus, which we really believe cannot amount to less than two millions, we might have added, at least, half a million on the following account: The statement shews an amount of 6,868,818 dolls. discounted on the hypothecated' stock of the bank. Now, it is perfectly known that, to raise the bubble, any person who held one share, or 100 dollars of the stock, was entitled to a discount, on a pledge of the share, to the amount of $125. But this was not yet enough, and the sum of 15 dollars was further (1.) We do not certainly understand what is granted on a share, by giving some personal secu-meant by "contingent interest”—we presume, howrity-together 140 dollars. Since the explosion, ever, it is the interest accruing on notes, &c. lying the solvent stockholders have been required to cur- over unpaid, in suit or otherwise. Its special amount tail the discounts on their stock, and some may is not stated, and the principal, as well as the inhave retired them altogether-out it is certainly terest, may be lost. But we give credit for the known that others, who dipped deep in the specu- full amount as claimed. lation, and received the 140 dollars per share, were not able to pay five cents to the dollar on their debts, and that the stock which stood in their name (3.) The amounts due from banks and individua's was abandoned to the bank. In regard to these, we at places where specie payments are not made, and must suppose that their notes, originally given for where the notes of the local banks cannot be con125 dollars per share, are included in the amount verted into money, at par, are as follows: stated to be discounted on stock, for the bank never At Lexington, for bills discounted on personal sehas reported any loss because of those notorious trans-curity, due from state banks, and notes of other actions. The loss of half a million then, on account of the bills discounted on bank stock, must be considered as a very moderate estimate-it is probably nearer a million, rating the stock at par. It is also probable that on these notes the "contingent interest” see note (1), is calculated.

As to future dividends. The regular annual expenses of the bank area! out Annual proportion on account of bonus, &c. &c. as stated above,

1 eal annual expense,

(2.) 645,723 for 4 months, (as above) to Nov. 1820-322,861 for 2 months, to Jan. 1821.

banks,

[ocr errors]

1,252,244 At Louisville, on account of the same, 1,294 291 At Cincinnati, do. 2,259,514

4,836,049

Nearly five millions, on which we estimate the loss of one half. The debt at Cincinnati alone, from the depreciation of the value of property, and with300,000 drawing of the office, &c. &c. will probably amount to a million and a half-the value of the notes of 150,000 the local banks indicate this, being at from 45 to 70 per cent. discount. The branch of the bank of 450,000 Kentucky, at Louisville, did pay specie for its own

« ПретходнаНастави »