The Democratic sentinel. [volume] (Cadiz, Ohio) 1852-1853, 1853-06-22
Money Matters.

BANKING IN IEnIANA.--John P. Dana.
ESQ, the present auditor of Indiana. has
given a more stringent construction to the
General Banking Act. He says;
"No bank can be organized with less
capital than fifty thousand dollars. A Bank
business, will be required to
deposit with the Auditor a. least fifty thou
sand dollars, p evious to receiving any
notes for circulation.
1.-THE Association may appoint such Off
GERS and agents as their business may re-
quire; but the name of Cashier must be at
tached to all bills and notes intended to cir
cuate as money.
stockholders are not required to be clti-
zens of the State.
THE Stocks deposited with the Auditor
must be regularly transferred, and issued
TO the Auditor of the State of Indiana, IN
trust for the Bank Of --.'
1.-The Indiana Stocks, ,chargeable upon the
Canal, are cot receivable.
"Where a Bank increases its capital, ii
will be required to make certificate and rec
ord of the same, in like manner as its origi-
nal organization"
The Constitution of Indiana, in relation
to the debt of the State, provides that
"The State shall not be a stockhol1er in
any Bank, after the expiration of the pres
ent Bank charter; nor shall the credit of the
State ever be given or loaned in aid of any
person, association, or corporation, nor shall
the State hereafter become stockhqlder in
-
LAFAYETTE BANK, GEORGETOWN, p. c.
A correspondent writes us from Clinton
County, Ohio, 10 inform him whether we
know anything about the above named
Bank, and whether its notes are good, as a
large amount of them are being circulated
in that vicinity.
Yes! we know something abot the Bank.
Its notes are geod-lor one cent and q half
per pound, which is the price paid by the
paper manufacturers for all filthy paper and
rags, such as are gathered from the street
cutters by those foreigners who, when their
eyes meets bit of dirty paper or rag, a
bout the dimenlions of one OF those notes,
is eagerly caught up shaken-no matter
what its surface may be covered-and hast
ily placed in the mouth of the huge bag, and
the eager pursuer after wealth still iollowst
the menderings Of the gutter
This is the true value of the notes OF the
Lafayette Bank" Georgetown, district Of
Columbia-Wm Nc Cannon. Jr's { broker
and proprietor of Goodman's Detector, J
quotations at 2 per cent. discount, not7lth-
Standing, Goodman's Detector is the Only
publication that quotes this paper at am
price. Rumor says some broker in this ci-
ty is deeply interested in circulating this pa
per. Come Mr.. MoCammon, can't you en-
Iighteu the public.
LAND WARRANTs.-Land Warrants con-
tinue in demand, and have advanced in
price. The latest advices from New York,
they are selling at the following rates:
BUYING. SELLING.
100 acre Warrants, $17l $175
so acre Warrants, SO 88
40 acre Warrants, 421 A
The EXCHANGE BANK OF H. A. Tucker g.
Co., III. is new Bank, organized under the
law of that State, by pledge of Public
Stocks, has just commenced issuing its
notes.
CAUT1oN--We would again caution our
frideds against the sHrNPLAsTERs, or in 9TH
er words the unauthorized notes of Illinois
Banks, which have re-organized under the
Free Banking Law, and continue in oircula-
ton their illegal, unreg istered issues The
sooner these notes are returned to the coun-
ter the better. The law OF last winter,
compels those notes to be redeemed by the
1st of August next. The amount in cir
cula.ion is several millions Of dollars, and
not dollar is pledged for the redemption.
1t looks rather squally; let them be sent
home at once. We here give the names of
those Banks which have issued this trash,
viz:
Belvidere Bank. Beividere-not regis
tered.
Chicago Bank, Chicago--not register ed.
City Bank, Chicago-not registered.
Clark's Exchange Bank, Springfeld-not
reg istered.
Merchants and Mechanics Bank Chca-
go--not registered.
Quincy City Bank, Quincy, certificates in
the form of Bank notes, without the Audi
tors signature.
LATE BANK FAILURES East bank, West
Kilingly Ct., brokc--Woodbury bank, Wood
bury, CT, brcke-Columb bank, Wash
ington, D. G., broke.
We clip the following from the New York
Daily Times:
"The public are warned against the cir
culating notes Of the ATLANTIC BANK of
Georgia. Wild Cat Dodge resorted to by
a private banker in the Northwest, who
has been fol.d in continuing his old shin
plaster system by Legislative action in Wis
consIn and Illinois, The fugitive charter,
under which he and his confederates are
now manufacturing their small notes for
circul alton out west. has been unexpe ctedly
appropriated, and much to the annoyance
of the Georgia press and people. The
doge is SO gross and impudent that even
confederate in Wild eating is impelled
Through quite as likely from envy as any
thing else to speak of the cause" we (--)
dash the above bank; we know the individ-
ual.
LATE COUNTERFEITS.
rs, Northern Bank, Kentucky,
2's, Southern Bank, Ky,