The republic. [volume] (Washington [D.C.]) 1849-1853, 1853-01-26
L Q o.ALrMATTERS.

:
7 SMALL Norris. - We hope that the Senate may
nnd It convenient during the present session t.
'.ake up and pass the House bill for the suppress
s2n 81 the circulation of bank bills under Ue dol
iaFs IN this District. Though probably not as per-
Iecs and satisfactory as desired, yet some sort o.
remedy is lmperatively demanded, and let US have
al least this bill for the present We take the fol-
loving article on the subject from yesterdays
Union:
s'ane general use of small notes in this District
mas gwen rise to system of fraud which demands
exposure. We have no special friendship for
banking institutions of any kind; and when we
iorclbly reminded of a well-reg1lated whirlwind
or well-regulated earthquake But yet there are
degrees OF comparison with regard to banks az
wen as other things, and the worst of all those in-
situations are those which issue small notes that
come in more direct conict with the specie circu.
iatlon OF the country. 1t is not our present pur-
pose, however, to put forth disquistion on bank.
ing or TO define our position in that behalf It is
70 eau pubic attention to wholesale system of
fraud which is being practiced.
"The fact has become generally known
throughout the country that this District, and
even the neighboring States of Maryland and Vir-
GINA, have been flooded with small notes issued
from this city. Such notes have been received at
points where nothing was known of the establish.
ments which issued them, because small establish
ments and men of limited means are not, as gen
eral rule, extensively known in the commercial
world dishonest men have taken advantage of
tnat TACT, and have arranged a systematic plan of
fraud, which they execute by putting forth in dis
tant portions OF the country email notes purport-
ing to De Issued by banking establishments in this
city winch have no existence whatever, and bear.
ing the signatures of presidents and cashiers who
are not known IN this community. We have re-
ceived IN paym for subscription to our journal
nfteen or twenty such notes within the last two
weeks-one from the western part of North Carroll
ma, another from Detroit, another from Maine, and
others from places equally remote, showing an ex.
tensive scheme OF operations by which persons at
distance, knowing that small notes form a large
portion of the circulating medium of the District Of
Columbia, are imposed on and defrauded by small
no es purporting to be issued here, well engraved
with handsome signatures, and fair to look upon,
We hardly expectthat the persons engaged in these
frauds will be detected and punished; but if Con-
gress would take the matter in hand and bv ef.
fectual legislation prohibit such issues in the Dis
trict, then every community in the Union would be
duly notified not to receive and circulate such notes
as those we speak OF; and no one, Except through
his own negligence, would receive the spurious
paper of imaginary banks of this District. bearing
the signatures of fictitious personaees and of pre-
tended officers, who, if they really have name.
yet have no local habitation. Unparalleled pros
perlty is producing too much confidence bv de-
etroylng necessary caution; and the success with
which the bald and naked frauds we have been
speaking OF have been carried on makes us fear
that fictitious issues and extended credits NAV in
hlct sharp and severe lessons lesson which mo-
nopolsts and the men who caused it will be the
hrst to mlsrepresen by referring it to causes which
even tended to prevent it''