STATEMENT Amounts. Amounts brought over Suspended debt and real estate. Amount brought over Deduct the total losses on the above suspended debt and real estate, as estimated at last semi-annual period 1,389,479 12 But it is manifest, that, in becoming responsible for a specific valuation of effects of this description, the risk is vastly greater than in guarantying the active classes of debt; and further, that the management and sales of real estate, and the collections from the suspended debt, will be burdened with heavy expenses in the shape of fees for professional services and otherwise. The experience of the bank in these respects would induce it to accept cheerfully an offer of 85 per cent. on the above valuation-15 per cent. is, therefore, deemed a just and reasonable allowance for guarantee and expenses of collection 3,023,904 68 453,585 70 In all the various inquiries and estimates which led to this result, there was a difference in opinion in regard to two questions only. The first was in respect to that part of the resolution enjoining the committee to ascertain what "charges shall be paid (including the expenses hereafter to be incurred.") The joint committee of six were unanimous in affixing a charge of five per cent. for the risk of guarantying and the expenses of collecting that portion of the active debt which consists of "bills discounted en personal security" and "domestic bills of exchange," and two and onehalf per cent. on "bills discounted on bank stock and on other securities." On the other hand, they made an allowance of three hundred thousand dollars for the probable gain on the "circulation" arising from the destruction of the Bank of the United States' notes. The three gentlemen whom the committee of six called to their aid, as directed by the minute of their appointment, were of opinion that the charge on "bills discounted on personal security and domestic bills of exchange," should be reduced to two and a half per cent., and that on "bills discounted on bank stock and other securities" to one per cent., and that the allowance for probable gain on the "circulation" should be withdrawn. and considered as an equivalent for contingencies not sufficiently provided for by the reduced rates of guaranty. The rates prescribed by the joint committee of six would result as follows: On domestic bills of exchange and bills discounted on personal security, amount $33,572,966 46, at five per cent. On bilis discounted on bank stock and other securities, amount $20,333,136 80, at two and a half per cent. Making, together $1,678,648 32 508,328 42 2,186,976 74 From which deduct allowance for probable gain on "circulation" 300,000 00 Leaving 1,886,976 7 The rates suggested by the three other gentlemen would result as follows: The joint committee of six, though entertaining the highest sense of the enlightened judgment and good faith of the disinterested parties whe:: they have called to their aid, co nevertheless adhere confidently to th belief that the charges first mentioned rather fall short of than exceed a jus and reasonable indemnity for the risk and expenses to be incurred. Ber desirous, however, in settling with the Government, of acting on the m beral principles, and of yielding every advantage not wholly inconsis |