Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1838-06-06

We copy the following highly important
communication from the Free Press. The
manly course pursued by Col. Fitzgerald, as
Bank Commissioner, will ever be remem-
bered by the people Of Michigan, of all par
ties, with gratitude.
We regret that circumstances have made
this appeal to our city banks imperativelyf
necessary. Our city banks have heretofore
taken the issues of country chartered banks
almost indscriminately on deposte, while
those of good safety fund institutions, have
been, as indiscrimnately, rejected and scout.
ed. They have done so since, in conven.
ton. they solemnly pledged themselves, by
resolution, to observe no och distinction.
None of these remarks, however, we be-
lieve, apply to the Detroit City Bank:
To the officers and Directors of the several
Banks in the City Of Detroit.
GENTLEMEN-I desire to appeal to you
in behalf of the Safety Fund Banks in my
district, and to respectfully solicit for them
that credit and confidence to which their
present situation Justly entities them,. and
which you extend TO the country chartered
banks. l have labored faithfully to detect
and destroy allfraudulent banks, whether IN
successful operation or not and equally
so, 10 encourage and enforce compliance
with the law, and TO correct the errors and
improve the condition of such as appeared
to have been got up in good faith, and were
under the control of honest men; and have
the proud satisfaction to believe that my
abors have not been in vain. regret that
there should be any distinction among thu
chartered and safety fund banks, except
what would naturally arise from distrust
oftheir solvency, and confidently hope there
will he none.
1t was the intention of the commissioners
10 unite in general aud detailed report to
the Governor, of all the banks IN the state,
setting forth the actual condition of each.
leaving il to the public TO Judge of their s1l.
vency, aud the degree of credit they were
entitled 10; but we are not yet prepared for
such report.
Most of the banks in my district, includ.
ing both safety fund and chartered, CON-
int need spy Gle payment OH the 10Th inst,
in good faith, and am happy to inform you
nlence, but receive the strongest evidence
OF disposition on the part of the people,
to confde in and sustain them, by the re-
turn of specie once drawn out, and addi-
tional depostes made. Their only fear is,
from the non-spece paying states adjoining.
The banks, as well as he people, in my
district, are deprived of all participation IN
the benefit OF the large sums of money now
daily expended in the eastern pArt OF the
state, upon Internal improvements AL they
need is a little credit until something can b.
realized from the present crops. Now,
gentlemen, MS | rely much upon your sense
OF Justice, liberality and patriotism, and as
the crisis demands that confidence si.oulu
20 be withheld when it is due, lake upoI
myself the responsibility OF recommending
in my official capacity, thai you recei"e
aud pay oui al your counter Inc notes ol III,
t,lowlng bnks, to vii: Bank or Homer
Bunk OF Marshal. Bank OF battle Creek
Bank oi Niles, Berrien County iiank, Com
mercial Bank. Grand River Bank, st. Jo
seph county Bank, and the Bank oi Colj
water. in The same way and manner tina
you do The notes of the country chartered
banks and il is conii emily hoped that the
banks of AlIegln and Singapore ar,
making arrangements that II EMIL,
them TO be placed upon the list | have her,
given.
The banks have recommended hav,
substantial assets, s1iiic lent to meet thei
liabilities. They are conducted by mel
who have stake in the community, win,
know and feel the weight OF responsible,
resting upon them, men who stand deserv
edly high IN tie estimation of their fellow
ctiz ms, and who have been toiling for year,
IN the acquisition of all that men hold dca
on earth--a good name, and competenc
fort support oftheir families-all OF whic
; is publicly, sacredly and legally pledged 70
, their fidelity. Besides this, their real eS
tate securities, though not in every instanc
= complete, are sufficient guarantee for tn
redemption of their present circulation, an
not regularly redeemed. You will be per
! fectly safe in taking and keeping their note
az the law now sands il you choose TO d
t SO and | think ii is in your power to d
!, much towards relieving the people az we
}, as the banks, by extending your confdenc
: as have proposed.
: The foreign debt of Michigan is niue
: less than is generally supposed. Let cor
$ gdence at home be restored, and the stat
: loan judiciously applied to sustain our Gre
G dir abroad, and party schemes in relation
our state currency be abandoned for onl
n few months, and confidently hope tn,
!. the energy and enterprise of the peop|
=, will enable them to triumph over all the
u present embarrassments, and that the oil
/ banks who have so long INDUCED their deb
: ors will have received large portion {
2 what is yet due them without producing tn
u least distress.
My anxiety for the public veal is my OF
: ly excuse, and one which hope will be sa
= isfa Glory, for troubling you with this con
, munication.
Very respectfully,
u Vnur ohadipnf cervanf.