The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1853-01-21
CITY OF EVANSVILLE:
Banks i'm Indiana.

ting themselves in pretty pickle, and the
currency of the State in a nice condition, by
their peculiar legislation on the subject of
Banking. A few years ago, Locoocosm all
over the country became red hot with indg-
nation at the very mention of Banks. They
opposed the Wing party because it was the
Bank party-they fought against everything
that in the slightest degree savored of the
abominable disc ase. But 10 the passage
of few years has witnessed this party in
various States of the Union, going further
and more recklessly in Bank enthusiasm,
than ever the Wing party dared venture
Lately, through their Legislature, the Locos
of Indiana passed a general Bank law, to
supercede the excellent State Bank. soon to
be wound up. Under this law, the following
Banks have already been established, and are
sending out their notes among the people in
showers:
The Bank of Connersville, at Connersville.
State Stock Bank of Indiana, at Peru.
The Indiana Stock Bank, at Lapor:e.
The Wabash Valley Bank, at Logansport.
The Gramercy Bank, at Lafayette.
These banks have an aggregate capital of
one million three hundred thousand dollars.
The notes of the following banks are taken
principally to New York, and there put in
circulation, to wit:
The State Stock Bank, at LogansDort.
The Plymouth Bank, at Plymouth
The Public Stock Bank, at Newport.
The Bank Of North America, at Newport.
The aggregate capital of these banks is
three hundred and sixty-five thousand dollars.
These also have agencies at the localities
named, for the redemption CT their notes.
Under this same law, we hear daily rumors
of more Banks about starting in different To-
calities. Yet the system under which these
Banks have started and are starting, is sc
defective, that even the Locofoco lGovernol
of Indiana seems to have become alarmed
and in his late message denounced it. Hi
cannot be blind to the alarming evils about
to spring from this General Banking Law o
his own party. Although he proves in hi
message, that he is about as ignorant O
Banks and Banking hod carrier, yet h,
Las enough common sense to teach him Their
is an evil and that some remedy must be az
piled to it. The State Sentinel has ais
taken the alarm, and is denouncing the la,
in just as bitter terms as though its creatio
were the legitimate work of whiggerv. II
evident object is to endeavor in goo; time t
avert from Democracy the wrath of the pee
pie, which must sooner or later follow in tn
footsteps of this law and its operations.
Now, Locofocoism alone is responsible fc
this law. They, the party always SO oppo:
ed to Banks, created this law, which is flooc
ing the whole State with lot of trihin
local institutions, some OF which are doub
less honest, but many will just as undoubte,
ly prove rotten swindling machines. l.
Locofocoism repair its own errors.
The new Banks of Locofoco Illinois hay
already issued over million dollars of sma
notes, and it is estimated the Banks of Ii
notes this year.
These notes are worthless away from Il
immediate locality of their issue. For
time they will probably secure the conlidenC
of those living near the various spots, whel
the promises are made TO redeem them. No
of the character of these Banks good N
ton may be obtained by the following d
scription Of nest of them, by cotemp,
rary:
In the village of Newtown, in Vermilio
county, in this State, there are four bank
all owned in the East, established under II
new banking law. One of these banks
owned in PottsviiIe, Pa. The money is ci
culated in Philadelphia and New York.
There is a clerk, with thous and or so do
lars, in Newton, for the purpose of redeem
ing any bills which may stray there
These are the Banks Locofocoism is gi.ir
the people of Indiana, in place of the Q
State Bank. Let 'em rip.