do on its promissory note discounted Farmers, Mechanics', and Manufacturing Bank of Chillicothe 51,754 01 20,218 22 12,845 25,909 14,426 33,026 84 $125,000 219,641 01**Accumulated in con 204,745 48* sequence of the receipt 22,777 42 3,737 73 of their notes by the collecting revenue. Planters and Merchants' Bank of Huntsville 121,294 11 do do do do Planters' Bank of New Orleans 146,289 38 Sundry banks, (balances from 1 to 300 dollars each) Deduct creditor banks Add amount loaned to banks on their promissory notes (chiefly for the purpose of paying the Bank of the United States on account of the drafts of the Treasurer of the United States on them) JONA. SMITH, Cashier. BANK OF THE UNITED STATES, November 11th, 1818. Letters from State Banks. State Bank, Boston, January 1, 1817. SIR: We have the honor of sending by Col. Binney, the Navy Agent in this town, who has had the politeness to take charge of them, a trunk and box, containing all the old emission of Treasury Notes of the old account, which remained in this bank. We should have sent them sooner, in compliance with orders from the Treasury Department, had a good opportunity presented. A statement is forwarded with them; but you will please to observe, that this statement contains a schedule of $384,000, exclusive of interest, of the new emission, the balance of which, after deducting commissions, is transferred from the old to the new account, in conformity to an arrangement expressed in our Cashier's letter of June 15th last, and which received the approbation of the then Secretary of the Treasury. The charge made for commissions will not be more than sufficient to cover those expenses which the situation of the bank made necessary, from its connexion with the Treasury, for employing agents at Washington, and the extra clerk hire, expense of stationery, &c. which has been employed while receiving them, and for the great responsibility of being accountable for such a very large amount. This compensation would have been no inducement to the Direction of this bank, for the perplexing and very troublesome business of receiving these Treasury Notes. But, having received the revenues of the Government, in this quarter of the coun try, previous to 1814, and from our good wishes towards the Administration, we have been induced to lend all possible aid to the Treasury Department, without wanting a further remuneration than sufficient to answer the expenses the Stockholders of this bank have been put to in consequence of this business. Hon. WM. H. CRAWFORD. We have the honor to be, &c. WM. WARD, for himself, and in behalf of the Board of Directors of the State Bank, Boston. P.S. You will find the schedule of the contents of the trunk and box at the last of the book which will be handed you by Col. Binney. State Bank, Boston, January 1, 1817. SIR: The call for money has been so great in this place, since the peace, that we have been induced, and in a manner obliged, to discount freely the mercantile interest, to manufacturers, and others in business, to enable them to support the extreme pressure which they were under, and it will be extremely injurious to be obliged to call suddenly on those persons. We have now agreed to pay the interest of the public debt in specie, not from motives of profit, but from an earnest desire to accomodate the Treasury Department. In doing which, it is certain we cannot possibly reap any benefit, and as the time may soon arrive, when we may be order ed to pay over the balance which may be to the credit of the Treasury Department on our books, to the Branch bank in this town, we do, for the above reasons, request of you, Sir, an assurance, that, when the time comes for you to change your deposites, that you will not draw from us over thirty thousand dollars a month, till the whole balance is paid. The time has been, Sir, and did continue for several years, when this institution had very large demands on the Treasury Department, but from circumstances, were obliged to wait and suffer great loss. We men tion this, as giving us some claim for the indulgence we request. Your early answer to this will oblige us very much, that we may our measures accordingly. I have the honor to be, take Your obedient servant, Hon. WM. H. CRAWFORD. not to P.S. In addition to the above, I would beg leave to observe, that this bank did loan to the merchants of this place $800,000, to enable them to pay their bonds to the Government; and to ease them, did call for more than 10 per cent. every sixty days, which will take 20 months for them to pay in; and it is well known, they could not have got. on without this accommodation. agree WM. WARD. Allegany Bank of Pennsylvania, SIR: In answer to your circular letter of the 20th ult., I am instructed by the Directors of this Bank to inform you that they are desirous of resuming specie payments-but that they cannot, with safety, do so, until the city Banks set the example. It is the belief of the Directors, that the city Banks will find it their true policy to meet the expectations of the Treasury Department, and commence specie payments on or before the 20th February next. If they should do so, this Bank will immediately take the same course. Your letter would have been answered sooner, but the Directors awaited for further information on the subject of it from the Banks Eastwardly, to |