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The Phoenix Bank

The Phoenix Bank image
Parent Issue
Day
5
Month
May
Year
1841
Copyright
Public Domain
OCR Text

It is stated in the Express that of the $300,000 put down as lost of the capital of the Bank, two-thirds is in Southern notes and bonds, chiefly of the Vicksburgh Bank. The same article states that the expenses of the Bank have recently been reduced to one half, and that of the new loans made within the past year, not a note has failed to be paid at maturity. - Jour. of Com. That is probably about the average cause of losses throughout the country, "two-thirds.". But two hundred thousand dollars lost by one Bank, in southern bonds and notes, is not a trifle. It shows where the capital of the country is gone. How will you get it back, Mr. Clay? or Mr. Webster? Will a national bank turn the hundred millions of negro debt of Mississippi into gold? We shall see. Emancipator.