These enormous sums of money first mentioned have been
transferred with the greatest promptitude and regularity, and the rates
at which the exchanges have been negotiated previously to the passage of
the deposit act were generally below those charged by the Bank of the
United States. Independently of these services, which are far greater
than those rendered by the United States Bank and its twenty-five
branches, a number of the deposit banks have, with a commendable zeal
to aid in the improvement of the currency, imported from abroad, at
their own expense, large sums of the precious metals for coinage and
circulation.
In the same manner have nearly all the predictions turned out in respect
to the effect of the removal of the deposits--a step unquestionably
necessary to prevent the evils which it was foreseen the bank itself
would endeavor to create in a final struggle to procure a renewal of
its charter. It may be thus, too, in some degree with the further steps
which may be taken to prevent the excessive issue of other bank paper,
but it is to be hoped that nothing will now deter the Federal and State
authorities from the firm and vigorous performance of their duties to
themselves and to the people in this respect.
Pages:
585
586
587
588
589
590
591
592
593
594
595
596
597
598
599
600
601
602
603
604
605
606
607
608
609