{"newspaper_name": "The New York herald.", "edition": "01", "page": "p3", "byline": ""}
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come solvent again. and the credit Of the whole must
eventually become firmly established a. II ever has
been. The time Is rapidly approaching whom rspuda.
on viii be considered degrading than It
yet been. when every dollar Of State Indebtedness
will be acknowledged and interest Of every dollar
promptly paid. Every interest In the Union Is making
such rapid strides ospsry that the burdens of
alton daily becoming lighter aud lighter The In
crease in taxable property from year to so great
that the rate Of taxation is becoming annually reduced
and few years suffice to restore the finances of
each State and Territory sound and healthy cond-
tion.


The panic among holders of Government and State
stock produced by the of wa- has passed away
but the probability of rupture with Mexico continues
great The effect has disappeared, but the
cause still exists


The rapid progress made in the commercial operations
Of Canada within the past few years be principally
attributed to the increase in the banking capital of the
country and the udicous distribution of this capital
among the commercial classes The operations of the
Bank Of British North America have contributed to this
result than any other institution in the provinces
This banking institution emanates from London bank
ing establishment of large capital and solid credit
which has also branch in this city. The three con-
nected with each other and extensively connected with
the business of their locations enabled to carry
very large and profitable exchange business The bills
drawn by the branch here, the bank in London
considered prime, and command the best premium in the
market The operations of this institution in Canada
almost extensive those of all the banks of Que
bee and Montreal put together and its business has
been judciously conducted that it has not only its
capital of million pounds sterling untouched but
has surplus Of Coo, 900.


We the aggregate returns of 70 banks OF ca
nada Of December last, compared with the Bank of Br
tish North America of the date


BANKS CANADA


December, I84a


Loans Specie. Circulatn Deposits
Banks Of Quebec


aud Montre al. S769.272 i,0)3ti 2,8.023o 2 606 83C
Bank of British N.


America. 7f6I 585 GA 37i 13jo0 2763j