Every day's experience sets the beauties of the Joint Stock
Banking system in the most striking point of view. Notwithstanding the con- tinued depression of the exchange, and the efforts of the Bank of Eng- land to narrow the circulation, the Joint Stocks pursue the "even tenor of their ways" and, whether intentionally or not, are doing as much mischief as possible. During the quarter ended the 25th of June, their issues amounted to 3488,664/. ; while, during the present quarter, they amount to 3,969,1211., being an increase of nearly 400,000/. ! It is due to the Private Banks to state that they have not acted thus, but that, on the contrary, they have reduced their issues nearly a million. We believe, too, that most of the great Joint Stock Banks—meaning by great, those that have considerable paid up capitals and a rich pro. prietary—have been pulling firmly up ; but there are quite enough of a different description to throw the financial affairs of the empire into inextricable confusion.— Courier.
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