Iowa news. [volume] (Dubuque, Upper Mississippi Lead Mines, Wisconsin Territory) 1837-1841, 1838-02-17
From tbs Galsna Gazette
EUEIzC NEETIvC.

From III, Galsna Gazette.
EUEiZC NEETEvC.
At meeting of III, Merchants and other
citizens of The town of Gaiena, convened on
Monday, the 29lh January. for the purpose OF
taking into consideration the condition Of the
local currency. composed as ii is principally
of the notes Of foreign banks, THOS. MEL
WILLIE was called to the chair. and HENRY ].
MoRnsoN, was chosen Secretary.
On motion. il was Resolved That a com.
mi,ec of five members be chosen to inquire
into the subject and to report thereon, at a fu
lurc mcelng-- whcrcnpon, the following per-
sons were appointed that committee: Daniel
Wann, ID. b. Morelousc, II. II. Gear, s. Nc
Lean, and G.. w. Fuller and the meeting ad-
jonrned to moct on Friday, The Cd February.
On Friday. I'd February, the meeting con-
vened according to adjournment. Fhos. Mel
vile having taken the chair, Daniel Wann,
from The committee appointed at the previous
meeting. presented the following report:
The committee apponted at meeting of The
merchants and trading men of Ga!enA, on tha
29lh ult for the purpose ofaking into consid
Grafton, the solvency aud character Of the cur
rcncy circulating ia the mining region, and to
ascertain if possible the prac.IcAbillty fdeslg
naiing from the various denominations Of for
5eign paper a.loal AN ing us, that which Should
be 10 ,ked upon, aud recommended a s,unl
aud safe currr.ncy---5eg leave to report, thai
they have taken the subject matter into con-
sidera,ion, witt! the desire TO present the same
in the clearest possible Light but the Short
space OF time which has been at the disposal
of the committee, as well as the limited aeans
OF information which they posses, reader /,
impossible for them 10 present the sGulccl 10
the meeting in such manner as 10 wirfat.l at
this time. at this time, any selection whatever
from The existing curency.---l our committee
are OF opia!on that any recommendation ilc
by 'hm, would 60 forth az an implied pledge
on their part to receive any paper as recon-
fmended, and without full knowledge Of the
fiscal resources of the various banks, whose
paper IS in circulation amongst us. your com
nilee deem il unwise 10 lend their Al ! 10 the
support Of any currency over whose character
the slightest breath ofsuspicion may have pass
cd.
| In order 10 carry out the views of the meet.
! ing held on The 29th ull as far as my be
T.. c,"abie. the committee would ask for farth
or lime 20 make the necessary Investigation, or
Il il, the meeting should think proper to appoint
another committee, ta:t committee to report at
IA meeting 10 be held on $3.50 day Of the present
| mon h..
All Of which is respectfully submitted.
ID. MANN,
d. b. MonEHousr,
II. II. GEAR,
s. MCLEAN.
q. w. FULLER.
The report was unanimously accepted, and
the committee discharged from further con,id.
GRAFTON Of the subject.
After some preliminary remarks, MIR. Mel
vile Introduced the following resolntions
which were considered and adopted:
Resolved, That while we duty appreciate
The benefit which commercial community de-
rive from banks that are lounlei on real capt
tai, and conducted on correct banking princi-
pies, we consider it both our a!eresl aud duty,
10 discou,tenance all such Institutions a. are
differently constituted.
Resolved, That we will not promote the
Giro lIalion Of the notes OF ANY bank. OF bank.
ing institution, that we do not consider SOL
vent.
On motion Of Col. Demint, Resolved. That
from and after the Goth day Of Marc, next, We
will not receive at par the notes OF any bank
which are not bankabIc at the Branch Bank IN
Galena.
Mr.. Mclean moved. that the individuals
prcsen, and composing this meeting, .'sn the
above proceedings, which was adopted.
On motion of Mr.. Norehouse. It was kesoi-
we'd, That the proceedings Of this meeting be
published in the ..North Western GaZeiie u
Advertiser" miners Free Press" and 40
wa News
On motion, ihe meeting adjourned.
Signed. THOS. MELVILLE, Chin.
Fl. J. MonRlsoN. Scc'y.