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THE SUSPENDED BANKS. The banks that have actually closed their loors owe it to their depositors and to the publio oithor to reopen forthwith or go into voluntary liquidation at once, under the process provided by the National Currency not. If they neglect to do so, it is the duty of the Comptrollor of the Currency to put thom in the hands of a Receiver. It is proper that the interests of their croditors should bo protected, and it is for the public good that their assets should be turned out as speedily as is practicable. If they really cannot reopon, the better way out of their embarrassments is a formal notice of voluntary liquidation. This will enable them, under the law, to turn over to the dopositors their just proportion of the currency on hand, and as many of the bills recoivable and convertible assets as necessary. Mr. Holmes, of the Manufacturers' National, is tho only one of the suspended bankers who has announced the intontion of adopting this course. The others should loso no time in coming to some decision. The Union Bank closed, according to its own statement, with 8600,000 currency in the vaulte, $800,000 of Eastern exchange, which is falling due from day to day, and collaterals on maturing notes which may be converted into cash. The Union Bank has no right, legal or moral, to withhold this largo amount of money from the publio at such a time as this, and much less from the depositors whom it owes. If there was a necessity to suspend business, then it becamo proper, at the same time, to adopt the readiost means for turning out to dopositors the cash and negotiable assets on hand. What is true of this case is equally true of all the others. Time enough will have elapsed by Monday to decide whether a resumption is possible. The whole secret of the financial distress in Chicago and the West is the lock-up of the currency. We have not been remies in constigating the cowardly dopositors who have mado a disgraceful seramble for currency to stow away in Bafety deposits and private vaults. When half a dozen banks close, and thus keep an aggregate of one to two millions of money out of the market at this time, we apprehend that a large share of the blamo must be transferred to their shoulders. If this large amount of money is to be locked up in the vaults of bankers who are doing no businees, it does nobody any good. It cannot relieve the banks, nor the merchants, nor the grain-doalers. It should como out. If the suspended banks do not voluntarily adopt the means provided by law for just such a contingency, the depositors will undoubtedly take stops to have them placed in the hands of a Rozoiver. This becomes the duty of the Comptroller of the Currency upon the application of any creditor who fails to receive his money on demand. The depositors have a right to representation and protection. In the present condition of the suspended banks, the interests of the creditors are entirely in the hands of the debtors. If the suspended banks are actually solvent, as they all claim to be and as we believe they are, this process will enable them to save their charters and perhaps their capital. They will then be in a condition to resume business with restored confidence. If any of them are not solvent, it will still be better for them to BAVO the exponse and delay of a Recoivership, and escape the improcations which such expense and procrastination will be sure to bring down upon them Every baukor who is not in a condition to resume to-morrow morning can do his Bhore toward relieving the distress by giving notice of voluntary liquidation, and turning out his assets as fast as possible.
