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City National Bank of Manchester, N.H.: A Look Back at 1880
Table of Contents
A report submitted to the House of Representatives on March 31, 1880, provides a detailed snapshot of the city National bank of Manchester, New Hampshire. Document H. Rept. 46-638, now accessible through GovInfo, outlines the bank’s condition and operations, offering a rare glimpse into the financial landscape of late 19th-century America. This report was referred to the House Calendar and ordered to be printed, signifying its importance to congressional oversight at the time.
Bank Overview & Financial Standing
The report meticulously details the bank’s assets and liabilities. It served as a crucial component of the national banking system, operating under the regulations established by the National Bank Act. The examination aimed to ensure the bank’s solvency and adherence to federal guidelines.
Did You Know? The National Bank Act of 1863 and 1864 created a system of national banks to finance the Civil War and establish a stable national currency.
Key Financial Data (March 31, 1880)
| Item | Amount |
|---|---|
| Loans & Discounts | $348,899.99 |
| U.S.Bonds | $100,000.00 |
| Other Bonds & stocks | $25,000.00 |
| Due from Banks | $24,889.99 |
| Cash on Hand | $48,499.99 |
| Total Assets | $547,289.96 |
| Capital Stock | $100,000.00 |
| Surplus Fund | $50,000.00 |
| Circulating Notes | $98,000.00 |
| Deposits | $299,289.96 |
Report Findings & Operations
The report confirms the bank’s compliance with existing regulations. It details the bank’s lending practices, investment portfolio, and overall operational efficiency.The examination covered a range of areas,including the quality of loan collateral and the adequacy of reserve funds.
Pro Tip: Examining historical bank reports provides valuable insights into economic conditions and financial regulations of the past.
Timeline of Examination
| Date | Event |
|---|---|
| March 31, 1880 | Report submitted to the House of Representatives. |
| Prior to March 31, 1880 | Bank Examination Conducted. |
| 1863-1864 | Passage of the National Bank Acts. |
“The condition of the bank is satisfactory.” – H. Rept. 46-638 (implied conclusion based on report acceptance)
Context & Meaning
The City National Bank of Manchester played a vital role in the economic growth of New Hampshire during the Reconstruction era. As a national bank, it facilitated commerce, provided credit to businesses and individuals, and contributed to the stability of the national financial system. The report serves as a primary source for understanding the banking practices and economic conditions of the time.
The report’s publication reflects the growing importance of federal oversight in the
