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The want of Banking Capital throughout Canada is a fact univer-' sally admitted, and is felt more particularly in the County of Elgin, where there is only one Bank Agency, (that of the Bank of Montreal) (^lite insufficient to meet the wants of the _ community. In order to supply this deficiency it has been determined to fornj a Joint Stock As-wciation under the Free Banking Uvw, I'd ife 14, Vic. cap 21, to be called the Bank of the County of Elgin, with a capital of not less than £50,000 to be divided into 2000 shares of £25 each. Before commencing husiness the Shareholders will have to pay £25,000 for Debentures to be deposited with the (liovernment to fomi the Safety Fund. This ap- pears to be a large sum to raise at once, })ut when the wealth of the County is considered, and the number of Shareholders who may be associated, the practicability of establishing such a Bank cannot be doubted, jhe assessed value of the proi)erty of this County in round numbers is £1,500,000, and the real value cannot be short of £2,000,000. From such an amount as this, there ought to be no difficulty about raising the required Capitol The facilities which Banking Capital affords to trade and com- merce are essential to the welfare and prosperity of every civilized Country. Blinking Capital is almost universally created by the formation of Joint Stock Banks, chartered or otlicrwise, and the great advantage of such institutions is, that they j)romote and su]»port an extensive system of credit for the purposes of trade and commerce, on the basis of nnil pro])(U-ty. In England, with rare ex- ceptions, the operations of Joint Stock Banks hnve bt^eu eminently successful ; and in the United States, although from want of pror)er safeguards the jaililic have sviifered losses from time to time, such Institutions cannot b3 dispensed with— iMoney is power, and if that power is vested m lew hands such as the chartered Bank/of Canadji, we cannot avoid the inconveniences which great monopolies invariably create, and the difficulties which arise from overtrading ancl those gigantic speculations on insufticient capital, frocjuently occurring in those cities where our Chartered Banks are established. By the Free Banking Law the public is amply protected against loss, while the Stockholders of the Bank canudt fail to obtain a handsome profit with f ifety for their investments, if they pav the lejist regard to their own interests. Und(jr ordinary management tne profit to Sharehoidei-s cannot well Ije less than 9 |)er cent, per annum ; the Debentures yielding 6 per cent and the circulation and other transactions of the Bank calculated at 3 per cent, clear of expenses, while with tlie exercise of proper exertions and prudence, after one or two yeai-s, as the Institution grows in pul>lic confidence, it would be fair to estimate the profit at 10 to 12 per cent. In addition to the interest which Shareholders may reckon upon receiving for thei.o money, will be the advantage of having the whole profits of the Institution di- vided and spent among themselves, instead of their being drawn otf to enrich distant proprietors, and those who require loans, or other Banking facilities will obtain them more readily than at present In order to enlist the co-operation of all parts of the County and to identify the interests of the Bank with the interests of the inhabitants generally, it is proposed to open I^oks for subscriptions for Shares at all the principal places in the County. It is also propos- ed to have a subscribed Capital sufficietitly large to avoid the necessity of calling in the mstalments faster than niav suit the conveni(!nce of Shareholdei-s generally. Thus if the Subscribed Capital be - .. , ,,. Ill - 1 -1 ="hin twelve months, but should . in within the same period, by no means excessive lor so ricu and productive a County, daily growing in wealth and jK)pulation. Until the instrument of co-partnership can be drawn and duly executed by the subscribers for Stock it may be necessary to elect a Provisional Board of Director L^?) to carry the aff'airs of the Asaociatiou inix) effect The election of this Provisional Board can b« made by all Sul scribere for Stock, who have made the deposit as hereafter provided to cover the necessary expenses to be incurred in the formation of the Association. That the Bank of the County of Elgin^ when estabhshed, will be a source of profit to the Stockholdei-s, and of utility to the public cannot admit of doubi, and the names of the gentlemen who have come forward to aid in its establishment is a sufficient guarantee that its afllairs will be properly attended to : — Edw. Ermatinger, David Parish, E. Paul, M. T. Moore, Bgi^j. Wili^on, Bknx Drake, G. W. Booos, Jos, Luke, Richard Luke, F. Ermatinokk, JamksHaiout, D. J. IlroHES, Wm. WnriE, T. D. Warren, Wm. Ross, James MnriiELL, liEVi Fowler, ^ Alex. I^ove, L Thompson, Dr. Southwick, M. P. P. At a meeting of merchants and other inhabitants of St. Thomas, held at Mr. T. D. Warren's Office, on 4 th September, 1854, to consider the propriety of establish- ing a Bank under the 13 ary. Moved by II. Caldwell, and seconded by Joseph Luke, Esqrs., That the proceedings of this meeting and the prospectus be printed and circulated for the informa- tion of pei-sons likely to lieirome Stockholdoi's. At a meeting of the Committee above named, it was resolved that the Subscrilxn-s lor stock be refjuii-ed to pay on the first instiilment on each Share at the time of Subscribing — 2s. (id, per share, to defray necessaiy expenses. Subscriptions Lists will be opened and lie at the following places during the month of October, VIZ At the Office of W. F. Wallace, Esq., Vienna " " D. Sutherland, Esq., Temperanceviilcr P. Hodgkinson, Esq., Aylmer. Decow ife Eccles, lona. E Ermatinger, Esq. St Thoma* Levi Fowler, Jiquire, Fingal, S. Price, Piq. Port Stanley, H. B. Smith, Eso. Sparta. Jame8 Haight, teq. Union. St. Thomas, September 19th, 1854. •* u It i( u u M u a u t* H X u Printed at the Office of the » Britinh Standard," St. Thomas. 0. W.