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By referring to my report of 1838, and the aggregate accompanying said report, a3 compared with the same this year, it will be seen that the circulation is smaller than in 1838, and that the quantity of specie has also diminished; the diminution of specie, is however, no cause of aların, as there is but little call for it from the banks in this State, owing to the fact that most of our banks redeem their bills in the cities, to which most of their circulation Rows.

The aggregate table will show that the banks in this state, both under the Safety Fund, and those that are not, have in domestic bills or drafts falling due in the cities, together with their deposites, bills of other banks and specie, an amount that will nearly take up their circulation without taking much of their home debi. This state of things is gratitying at this particular period, as other states are embarrassed, while we are comparatively easy.

In my examination in 1838, as also in 1839, where any of the banks have had any proportion of their debt in an inactive shape, I have advised that the whole should be put in the shape of an active debt, and as much invested in domestic bills or drafts as possible, as those banks which keep the greatest amount in this description of paper are able at all times to accommodate the public to a larger amount than the banks which undertake te furnish permanent loans; this description of pape: being generally founded on positive business transactions, is conse. quently all paid at maturity, and at those points where it is most convenient for the banks to take up their circulation. Verinont, being a producing stale, naturally furnishes a large amount of this description of paper, sufficient, it is believed, at all times, to take up the circulation of our banks; drafts or domestic bills, being drawn and endorsed by at least two sureties in this state, and additional security obtained by their acceptance in the cities, are altogether the strongest and safest paper for them to discount, and falling due in the cities, throw the burden of payment on other Sta ces, and at points where the funds are most war.ted to meet their circulation.

In my report of 1838, I stated the condition of the Windsor Bank, and that I had requested the State's attorney for that county to present the case to the Supreme Court, at their next annual session. The case has not been presented for want of time, as alledged by the State's attorney, but will be in January next. The condition of that bank has materially changed since my report in 1838. At that time the circulation amounted to about $112,000; of this amount $32,000 was held by one of the Boston banks, which bank has since parted with it, and it has been applied to the payment of debts then due the bank which were con. sidered the most doubtful. The application of the above $32,000, and the further sum of $14400 in Windsor bills in payment of notes up to April last, leaving the circulation at that time about $66,000, stimulated the stockholders to come forward and pay a large assessment to take up the balance of the circulation, in hopes of recovering from the suspended debt, at some future period, some portion of their original stock. This, however, remains doubtful, as the suspended debt is still very large, and little or no positive security has been obtained. This bank will not attempt to do any business until the question has been presented to the Supreme Court, and their decision in relation to its charter, had. All of which is respectfully submitted.

HARRY BRADLEY, Bank Inspector, Montpelier, 11th Oct., 1839.

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Names and Location.

Loans & dis. Real Estate Funds depos. Due from Notes of oth-
counts dueland due from ited in Bos. Other Banks ler Banks and
en book. safety fund. Jton and New and Bank U, S. Treas-

York. Stock. ury Notes.

Specie.

| Total
Resources.

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Bank of Brattleboro'
46 " Orleans

« Bellows Falls
« « Middlebury
Farmers Bank
Farmers and Mechanics Bank
Bank of Woodstock
« “ Manchester

- Newbury
Essex Bank
Bank of Vergennes

" " Burlington
16 " Rutland
65 “ St. Albans

" Bennington

" Orange County « « Montpelier

6 Caledonia « « Windsor

95,148 00 34,041 87

75,000

4,950 62 209,140 49 45,567 00 587 00 30,000

1,126 81 77,274 31 108,958 00 12,822 18

50,000 2,709 00 7,260 36 200,635 24 118,620 00 9,681 18 3,567 78 60,000 150 55 8,665 75 181,749 54 137,120 00 9,558 71

60,000 113 52 5,322 44 206,114 67 90,059 00 9,219 58

105,000 585 20 2,596 50 207,460 28 81,928 13 3,760 85

50,000

1,981 25 137,669 73 106,215 00 12,961 95

70,000 466 16 5,178 96 194,822 07 74,353 00 7,229 24

50,000

4,185 16 135,767 40 66,262 00 3,797 99

25,000

3,777 56 98,837 55
154,860 00 22,854 08 10,481 10 80,000 1,009 00 5,797 03 275,001 26
155,012 00 65,470 38

150,000 555 56 20.957 20 391,995 14
159,403 00 13,142 55 14 00100,000 926 00 7,055 33 280,540 88
158,198 00 18,307 98 2,217 12 50,000 2,242 00 11,994 94242,960 04
49,754 00 15,418 90

87,770

152,942 90
128,928 00 13,487 94

70,000

11,513 07223,929 01
94,352 00 15,052 15

60,000 174 00 6,368 50 175,952 65 118,243 50 15,181 18

50,000

3,248 10 186,672 73 23,832 00! 23,431 59

100,000

24,446 36171,709 95

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