Report of the Special Committee on the Currency

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Excerpt from Report of the Special Committee on the Currency: Together With the Answers of the Banks, in Obedience to the Order of the House of Delegates of Maryland, of the 4th January, 1842I do not believe that this bank, or any other bank in this city, can ever pay specie bona fide, for all its liabilities, and in all its transactions, and aford the slightest facilities to commercial opera tions, whilst our creditors the Eastern cities are paying specie, and our debtor, the South is in a state of suspension.In order to sustain specie payments under these circumstances, we should be compelled to diminish our already small amount of loans.Yet should the Legislature, by passing the bill reported to the House of Delegates, and published in our city papers, render it necessary for us to maintain specie payments, it would be my duty, so to advise the management of this bank as to effect that object - however much as a citizen, I might regret the distress entailed Upon the community.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.