general resort

hunsssalin Thu Mar 17, 2011 2:17 pm

general resort

(M. Chevalier's United notes in New England is very moderate, in consequence of the activity of the circulation and the general resort by the inhabitants to their banks for all their payments and collections. The circulation in , notwithstanding, or we should rather say, in consequence tory burch outlet of the great number of the tory burch sale banks, only amounted to ,,. With an aggregate capital of ,,, their discounts only amounted to ,,, and they held in specie ,,. Their circulation and their advances to their dealers remain therefore quite limited in proportion to their means. Moreover, again exactly as in Scotland, specie is hardly ever seen in this portion of the United States ; the bank notes suffice for nearly every transaction. In the midst of extensive commercial transactions, in a district where an excessively laborious trading population are incessantly operating, the entire circulation is only J per capita, of which is specie ; and yet this amount is found to be ample. In France, where the amount of transactions is tory burch flats proportionally much smaller, it is estimated that the metallic circulation alone is about francs per capita. What expense, what labor and lack of confidence do the latter figures reveal; and on the contrary, what confidence, ease, and economy do the former indicate ! We Bank Capital. Total Currency. Specie in Banks. Am't of Loam.New England, Bank of England, The currency furnished by the Bank of tory burch shoes England is twice, the amount of its capital, whereas that furnished by the banks of New England is only one third of their capital. In England it requires an, unemployed capital invested in gold, in bank, sixteen times as great as that of New England, in •addition to a larger quantity in circulation, while the amount of its business is but little more than four times as great." (H. O. Carey, The Credit System, have before us, apparently two entirely different societies, two different civilizations. In the State of New York, during the period from to , the loss of the community, by the failure of banks, apart from that of the stockholders, cannot have exceeded per million of the circulation, and probably not per million of the transactions they have aided.In the entire capital of the banks of the States of New York, New Jersey, and Pennsylvania amounted to per inhabitant, being less than one half of the amount at that period in New England, which was per inhabitant.