9,600,000
--------------------------+-------------+---------------+------------
| $52,610,601 | $28,100,000 | $15,400,000
--------------------------+-------------+---------------+------------

Over the local institutions the Bank of the United States always
exercised a salutary control, checking any disposition to overtrade by
restraining their issues and holding them to a proper specie reserve;
and this by no other interference except its countenance or ill favor,
as such banks severally observed or disregarded the ordinary rules of
financial prudence. The immediate effect of the refusal of Congress to
recharter the Bank of the United States was to bring the Treasury to the
verge of bankruptcy. The interference of Parish, Girard, and Astor alone
saved the credit of the government, and this interference was no doubt
prompted by self-interest. That Mr. Astor was hostile to the bank is
certain. Gallatin wrote to Madison in January, 1811, that Mr. Astor had
sent him a verbal message, "that in case of non-renewal of the charter
of the Bank of the United States, all his funds and those of his
friends, to the amount of two millions of dollars, would be at the
command of government, either in importing specie, circulating
government paper, or in any other way best calculated to prevent any
injury arising from the dissolution of the bank," and he added that Mr.
Bentson, Mr. Astor's son-in-law, in communicating this message said,
"that in this instance profit was not Mr. Astor's object, and that he
would go great lengths, partly from pride and partly from wish, to see
the bank down." In 1813, when the bank was "down," Mr. Gallatin was no
longer master of the situation. He offered to treat directly with
Parish, Girard, and Astor for ten millions of dollars, but finding some
hesitation, he opened the loan for subscription. When the subscription
failed, he was at the mercy of the capitalists.

Another immediate effect of the dissolution of the bank was the
withdrawal from the country of the foreign capital invested in the bank,
more than seven millions of dollars. This amount was remitted, in the
twelve months preceding the war, in specie. Specie was at that time a
product foreign to the United States, and by no means easy to obtain.
Specie, as Mr. Gallatin profoundly observed, does not precede, but
follows wealth. The want of it nearly destroyed Morris's original plan
for the Bank of North America, and