Article Text
RESUMPTION. We have entertained and expressed but one opinion on this subject from the beginning, and that has been and is, that, the banks should resume no conto the advice of a trary payment. We have Baltimore had financier, doubt, that, the banks generally, were able to maintain specie payments, and being able, justice and propriety dictated the policy of resumption with as little delay as possible. Events, on nearly every side, are confirming the correctness of oui opinion. The Harrisburg Intelligencer of the 19th, after three days' proof or experience of the effect of the measure, says: "The banks of Pennsylvania resumed specie payments on Friday last. We do not believe there was any serious "run" on any of them." The York Gazette of Tuesday remarks: We believe that the resumption of specie payments on Friday last, was general among the banks of Pennsylvania. We have not heard of an exception. In most instances, so far as we have been able to learn, the demand for specie at the counters of the banks was much less extensive than was expected-and scarcely amounted to what is termed a run, if we except the case of the United States Bank. "The York Bank commenced redeeming its issues with specie some days before the time fixed by lawand on Friday and Saturday was not called upon for more than about $700. The news from Philadelphia seems to leave no doubt of the success of the resumption there. A heavy run was made upon the U. S. Bank by New York brokers, but they seem to have exhausted themselves without shaking the bank. In Illinois resumption took place nearly a month since, and we learn that there has been no run upon the banks sufficient to affect their condition in any way. We learn, too, from Mr. McFarland, President of the Farmers' Bank of Virginia, who has passed through this city on his way to confer with the banks of Baltimore, that Virginia is ready to resume, and that gentleman is now endeavoring to get the Baltimoreans engaged in bringing resumption about. The Richmond Whig says: "If Baltimore is not prompt to name a day, we hope and believe that Richmond will resume without her." The Baltimoreans think this "bold language." It is the boldness of right, and we hope the right will triumph. We have no chartered banks now existing in the District of Columbia; but if we had, we have no doubt they would be ready and willing to pay specie. The Virginia Banks have published the following resolutions: At a meeting of the Presidents of the Bank of Virginia. The Farmers' Bank of Virginia, and of the Exchange Bank of Virginia, at Richmond, and being authorized to act in the premises, by their respective Boards, JANUARY 18th, 1841. Resolved, unanimously, That the Banks will resume simultaneously with the Banks of and that the specie Baltimore; payments President of the Farmers' Bank be requested to report this resolution to the Banks of Baltimore, with a request that an early day be fixed upon for the resumption. (Signed) JOHN BROCKENBROUGH, T