The foregoing statement shows that the banks continue to be managed with due regard to the public safety and the interest of the stockholders. And it is believed that the bill holders will not suffer by any of the banks subject to the safety fund act, so long as the stock remains in the hands of the present owners; but efforts continue to be made by per sons in other states to get the control of our banks, for the purpose of using the bills in other states to discount drafts and notes, and then purchase the bills thus put in circulation, at a discount, to be again used for the same purpose, In order to answer their purposes, these speculators require a bank authorized to issue a large amount of bills in proportion to its capital, the stock of which can be owned, and the direction controlled, by residents of other states, and the bills not redeemed at par in Boston. Consequently the banks, subject to the provisions of the laws passed in 1839 and 1840, will not answer their purpose. It is therefore respectfully suggested for the consideration of the General Assembly, whether it would not be expedient, by a general law, to authorize any of the banks chartered previous to 1840, to make themselves subject to the restrictions, and thereby to be entitled to all the immunities of the banks chartered at the last session. An act was passed at the last session of the General Assembly extending the charter of the Bank of Bennington for the term of two years. That Bank was notified in December last, that it would be required to comply with all requisitions of the general laws applicable to the re-charter of a bank, or it would not be permitted to proceed, under the act extending its charter. The bank thereupon signified to the undersigned that it claimed nothing by virtue of the act extending its charter. Its charter therefore expired on the first of January last. From the report of the committee appointed by the General Assembly to examine that bank, its condition can be ascertained on the 23d of August last, and in the opinion of the undersigned, it shows the expediency of authorizing the Bank Commissioner, or some other officer of the government, to make an application to the Court of Chancery, agreeably to 18th section of the 79th chapter of the Revised Statutes. All which is respectfully submitted. Montpelier, Oct. 14, 1841. R. PIERPOINT, REPORT OF THE BANK COMMITTEE. The undersigned, having been appointed a committee to examine into the situation of the several Banks in the State not subject to the provisions of the safety fund act, makes the following report of the condition of the several banks aforesaid. Specie and bills of other banks, Due from other banks, and funds in Troy, N. York, and Albany, Due on book, Banking house, $87,770 00 169,902 00 $257,672 00 $156,965 53 4,676 45 86,400 04 6,155 88 3,992 34 Aug. 23, 1841. $258,190 24 Of the notes discounted, there is the sum of $28,722 00 in notes of long standing, some of which were secured by mortgage of real estate that has depreciated in value, and it is believed that the principal part of that amount will be lost. The Bank of Windsor has not done any business for the past year, except in the collection of the debts due the bank, and the redemption of its bills presented for payment. A scire facias is now pending in Windsor county against the Bank, and a final judgment thereon may be expected at the next term of the Supreme Court in that county. R. PIERPOINT. Oct, 14, 1841. REPORT OF THE AUDITOR IN THE TREASURY DEPARTMENT. To His Excellency the Governor of the State of Vermont : The undersigned, Auditor in the Treasury, having examined the situation of that Department, as exhibited by the books of the Treasurer, and the papers and vouchers in corroboration of the Treasurer's accounts, for the current year, ending on the 30th day of September, A. D. 1841, takes leave to make the following report. The State of Vermont in account with Henry F. Janes, Treasurer of the State, To balance due the Treasurer, as by Auditor's report of Sept. DR. 30, 1840, $9,539 33 cash paid debenture of General Assembly, 13,016 69 120 00 canvassers of votes for Preseident and Vice Presi- 320 38 Gov. Jenison balance of last year's salary, $450 1,604 99-4,139 36 C. L. Knapp, Sec'y of State, one half of last year 23,602 43 6,946 68 287 50 62 50 F. F. Merrill, Clerk of House, his salary semi-ann'y, 275 00 last year, 137 50 D. W. C. Clarke, Sec. to Senate, half year's salary, 125 00 year's salary, 62 50 G. B. Manser, Sec'y of Civil and Military Affairs, one year's salary, 200 00 Oel Billings, Engrossing Clerk, half of last year 162 50 A. D. Arms, Librarian, half of last year and half 75.00 Wm. Weston, Reporter of decisions of Supreme Wm. Weston, Ass't. Sec'y to Senate, 450 00 75 00 D. Pierce, Auditor of Accounts, one year's salary, 150 00 |