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$32,126,058 the Total, ova made to the House of dated 26th appears ber resentatives, By report March, it Repof these eighty-eight banks, forty-six ssthe entire ase them. That of enhad that, discharged twenty-eight others, balances due of the them. from e-1in twenty 88had that date been drawn the by the (abalances tire balances at owing remaining remaining for, eight, and m. half H million as appears by a report to the 29th March,) were arfor the public made bout available service, considered and subnject to draft." '8The following banks have availed themhe selves of the act of the 12th of October last, d by giving bond with the requisite security ay $24,870 Buffalo, N. Y. Commercial Bank, to 781,316 Natchez, Miss. Agricultural Bank, Union Bank, 87,519 Nashville, Tenn. e 529,820 Louisvilla, Ky. Bank of Kentucky, 12,935 Bank of Wooster, Wooster, Ohio, 489,039 Detroit, Miche Bank of Michigan, of The following have claimed the benefit of the act of the 12th of October, " and bonds have been sent to them, which are, it is supposed, in the process of execution." $853,891 Branch Bank of Ala. Mobile, Ala. 864,409 Natchez, Miss. Planters' Bank, 10,304 Planters' Bank, Nashville, Ten. Franklin Bank, Cincinnati, Ohio, 328,924 377,762 Indiana, State Bank of Ind. 243,930 Farmers' & Mee. Bank, Detroit, Mich. The following banks have been sued: $39,636 Boston, Commonwealth Bank, do. Franklin Bank, 16,800 the same the several of the banks still " lil that, In report, Secretary held balan. states credit of officers," were in the course of paid out time to time, as which ces from at the disbursing needed." being is the history of the much abused banks. Of which held at the deposite This they period thirty-two of suspension, millions about them about a been twenty-seven by millions four have and already of half beand in the progress secured under the act Conand about fifty doling millions already gress, amply only thousand $16,800 of in suit. Of this sum, bank selected in 1836, under stances as elicited in in lars a placed lately the investiga- circumtions Boston, of not a very reputable and the entire to have been character, other at appears balance placed due there from 1st of October last, as at reported the bank to overto the amount of since the the Secretary the $2,600 therefore, that be date if shall be ultimately these common justice drawn of any thing banks, lost could by either hardly it to defect in the system. it is shown by the of e the own report, all Thus, attribute Treasury's that Secretary after the which has been not one will be lost by the banks, by the last mentioned dollar outery -Madisonian. made, unless inserted the above at the request of respected subscriber, we Having highly which would apoffer a few comments upon it, in pi pear to us necessary to place the subject in M its true position. [E: The above statement has reference solely to the liquidation of the debts due to the Government by the late Deposite Banks, and we are happy to perceive that a sum is considered liable to be ullost. That this is timately 60 small favorable eareful result manner mainly owing to the in which the government funds have been withdrawn from some of the Banks, and We time allowed to others in which to pay, we presume will not be denied. But the attempt to draw from the circumstances of cop the ultimate liquidation of all the governriot in the banks, an argument renewal of the ment in favor deposites of a connection beand them and the government, does not iss the at issue peoap tween meet question before the they The plain facts of the case, as par to us, are these-the ticl appear ple. government its equivadeposited in the bank specie or not lent, with the express stipulation of its repayment, when called for, in the same medium.-The banks suspended specie payments, and refused to pay the government er and other creditors, in any thing but irreto deemablepaper.-The governmentis bound the laws to offer nothing in payment to its but specie or its by creditors equivalent, banks, was and by this act of its agents, the tion thus rendered almost totally unable to comcon the ply with the requisitions of the laws; but drafts were as usual given on many of the full deposite banks, and the government creditor had the option of receiving depreciated bank paper in payment, or of protesting tha is draft, and waiting an uncertain period to his dues from the government, Most of these obtain legal currency. creditors in the preferred the first course, and in this way Me many of the deposite banks paid all their Ne debts to the government, while others have been unable even so to pay, and, on the the recommendation of the President, have been allowed several months to meet the demands ped of the Government upon them. We have thus briefly stated the facts, and So it remains for the people to decide if a syscou tem, which has brought discredit and emparrassment on the Government, and loss Ch the public creditor, is worthy of renewal fort even if no loss is ultimately sustained by the Government from its connection with tain he banks. the the the A water spout passed over Sullivan's
