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'i'le London Banker's Circular holds Inc following language with reference to the United States Bank

 ''Sohe of the American banks have resumed pay ment others have attempted and failed The prInei- pal of these, the Bllk of the United States, witll raj up capital of seven millions sterling, has been assigned over for the benefit of creditors, and its shares are worth the market just ab ut on.-twen- teih part of fhcf original cost The capital credit uf this Bank, and the capital an! credit of the Amer ean merchants, simultaneously destroyed y turn o Inc machinery put in operation by money Laws fo- geiher greatly exceeded twenty millions sterling much more than the whole circulation of ,ho Bank of England, ani this sum has been all withdrawn from the use of industry and the support of enterprise and commerce. Withthe protracted pressure ol the years 1899, 70 and 1SIl increasing, with short utcImis sion in the severity of its pressure the trade, NC are all familiar.

 "Ihc affair of the Unitel States Bank is too i'm porant to be bunalcd into paragraph amongt other matters; it must have tn itsel. The proportion of us capital held by British sthect is nearly four millions sterling it may be described as an ebtiie loss And the loss we venture upnn considc- ration o siy greater than the az gregie of all the losses sustained hg the inhabitants of the British ls lands from the failure of Banks in this country since Mr. Patterson established inc banks of England and Scotland at the close of the seventeenth century.- The small population of Guernsey and Jersey hold ] 2Ge ,000 of the stock of this Uned States Bank .-- Call il entire loss, and IS equal to levy tlaee four pounds every man, wOnian, and chill Tn the whole community of these isands-a stila greater than was ever raised by taxation in sing se year any people in the whole world. Are these important facts If facts they be- Then let slatcsmen mcdi- tate upon ,hem for by their errors and reckless con- lidcnce in deusi,e theories they have been protuc- rd r