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# WHEELING BANKS. The Wheeling Times, of Thursday, thus speaks of the difficulty respecting the Wheeling notes in this section. The editor asserts that the Bank never was in a more sound condition. We have never doubted but that the Bank was sound, yet we felt constrained to give the reports as they were current on the lines of travel. We regret much to see comments that have been made in some of the Eastern papers relative to our banks, particularly the Merchants' and Mechanics' Bank of Wheeling. In the Richmond Whig we find the announcement that the notes of our banks will not be received, except on special deposit, after the 1st of July. There is a reason for that, and, doubtless, a good one, which by no n.cans affects the credit of the institution. Exchange on the east for any western paper, here, is seven to eight per cent, of course Wheeling money would be at near that discount in Baltimore and Philadelphia, say five per cent. Ohio, Indiana, Kentucky and other western money was much worse, or not taken at all. Therefore our merchants took east Wheeling Notes. Wagoners, who went west and took western paper, stopped here on their return and exchanged their money for Wheeling money, because they could pass the latter at the east. Therefore considerable sums found their way into Baltimore. This was bought by the brokers and sent to Richmond as the most convenient point at which it was bankable, where they purchased drafts on Baltimore at 1 per cent. making 3 per cent. at least by the operation. After the suspension the Richmond Banks could not demand any thing of the Wheeling Banks but the common currency or eastern funds at the current rates, therefore they would lose. Again, Wheeling money was bankable, was taken for State revenues, and was sent there in payment of those dues. Thus, the paper was found in Richmond to such an extent as to lead to the natural resolution by the Banks there. On the strength of the brokers in Baltimore started the report of the failure of the Merchants' and Mechanics' Bank, when what was the fact? Its very credit was the cause of the falsehood. The bank was never in a more sound condition than it is now. It is doing business as usual, and in better credit any where within an hundred miles than the banks of Ohio, Indiana or Kentucky. To make the matter worse, a very respectable paper, the Chambersburg Repository, makes a very unwarrantable attack upon the Merchants' and Mechanics' Bank for the issue of post notes. Why is this? As we have said, exchange on the east has been, the last year, five to seven per cent. for current funds. Specie, of course, was at a premium of four to six. The Banks of Wheeling did not suspend until permitted by the Legislature, on or about the 1st of April last. During the last year, then, these banks must refuse in payment of dues or on deposite the money of all the western banks, which had all suspended, and leave the people of Wheeling with no currency, or issue post notes, as they could not circulate their demand paper, because specie and eastern fonde commanded the enormous premium named. For the accommodation of this region of country, post notes were issued and received at any time in payment of debts, on deposite; treated, whether due or not, as the notes of suspended banks were treated by the banks issuing them, and when due redeemed in specie. Last winter the Legislature expressed its disapproval of post notes-the banks here immediatly quit issuing them-at the same time they were allowed to suspend, and did suspend. We have but to remark, further, that if any one has notes of any banks here, whether they are due or not, they will find them treated precisely as demand paper, and we ask ali men of common sense, if they do not think these post notes, under such circumstances, as good, and a hundred per cent. better, than the new issues of the Pennsylvania banks that are convertible, heaven knows when. We dislike the practice of bringing sound and useful banks before the public, and only do it when we see men led into error, unintentionally, as we believe to be the case with the Baltimore and Chambersburg papers.
