The Essex Bank was placed in the hands of a receiver, by order of a chancellor, previous to the last session of the General Assembly, and from what I can learn from the receiver, I should conclude that effects in his hands, and all the safety fund now paid in, and that the banks now chartered are required to pay in, will not be sufficient to redeem the bills of that bank. The other banks appear abundantly able to meet all their engagements, and to have been conducted with prudence and fidelity. Which is respectfully submitted, R. PIERPOINT, Bank Commissioner. Montpelier, Oct. 8, 1840. |