in substantial

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in substantial

While publicity increases the public confidence in substantial and well-managed banks, it exposes the weakness of those that are poor in means, or are ill-conducted; and thus it operates as a check to the creation of some, and to MBT the imprudence of all. It was not, indeed, sufficient to check such imprudence in , because the same delusion then possessed both the banks and the people; but it does not follow, that similar imprudence, both now, and so long as the history of the late suspension shall be recollected, would not meet with that degree of public reprehension that the banks would be obliged to respect.They have also become fully sensible of the advantages of publicity in Great Britain, as the bank of England, since the renewal of its charter in , sends in to the government weekly returns of its coin and bullion, of its circulation and deposits, and monthly abstracts of these are regularly published. Quarterly returns of the issues of the country banks are also returned and published.As a further check to bad management of banks, and a better security to the public for an accurate knowledge of their condition, some of the states have subjected them to periodical visitations from commissioners, appointed by the state for that pur-pose. This policy was first MBT Trainers adopted by New York, in , by a provision in its safety-fund act, by which three commissioners are appointed, two by the banks MBT Shoes Sale jointly, and one by the state, to visit every bank at least once in four months, examine into its affairs, and report them to the legislature. Since that time, MBT Shoes the states of Maine, Connecticut, Rhode Island, and Mississippi, have also appointed bank commissioners for the same purpose. The measure seems to be one which may be productive of much benefit, without being attended with any objection unless it should be found that it gave an influence over the banks to those who wielded the power of the state ; which, in times of great party excitement, might be abused. In the states in which the policy has been tried, no complaint of such abuse has yet been made.In many of the state banks, the state owns a part of the stock ; by reason of which, it appoints a part of the directors j and this was a provision in the charters of MBT Sale both banks of the United States.