The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1854-12-09
SATURDAY MORNING, DECEMBER 2, 1854
The Maine Banks.


We notice that several of the papers Of this
Territory pers st in representing a number OF
ths Maine Banks as Of doubtful repute. This.
xepresume, arises from no disposition on the
par. of the conductors of those papers to pref
udce the bills of sound. specie paying Banks;
but merely from lack of knowledge in regard
to the actual standing of the Banking institu-
tons OF that State. which are based upon
system so admirably guarded and arranged,
that it is only, if ever in the most eXtraord;na-
~ emergencies, that they are in danger of be-
ing shaken or seriously embarrassed in their
operations.
The writer of this, speaks from personal
knowledge in reference to this matter acquired
by residence of over forty years in that State.
and with a general acquaintance with the char
actcr and ability of the men to whose manage
ment the integrity Of the Banks are intrusted.
We feel SAFE then, in saying to the public, that
they need have no apprehension about the
safety of the Maine Banks. In confirmation
ofths, and with the design Of more eifectually
correcting any erroneous impressions that may
have been given in consequence OF the vagrant
the following statement from the Portland (Mc.)
Daily Advertiser Of the 18th Nov one of the
oldest and most upright Journals in that State:
The importance to individuals of an unshak-
en- credit cannot be too highly estimated and
is obvious to all If there exists want of con-
iidence in a commercial community. business
must necessarily languiSh and suffer. Much
more DISASTROUS are the results when the intcg-
rity Of our moned Institutions are brought in
TO question. Distrust there touches the most
sensitive nerve in the comm rcial body. II
credit to an individual is Of Importance, to
Bank it is matter Of life and death.
1t is a matter of congratu!ation that the
Banks OF our State arc in such :, sound condi-
ti0n-that while in other quarters the public
III nd is DISTRACTED. and business communities
harras-ed and pcrplcXel by the failures and
worihicssaeSs ri their corporations our banks
retain their int gritty unnpared. Indeed oar
system Of Banking is 50 admirably arranged
that it is Only ia extraordinary emergencies
that HEY are III danger Of being shaken. As Il
proc. Ot this. we need but refer to the noble
manner in which they sustain themselves un-
der the pressure to which they have recently
ben suijectcd. The depression of the ship
building interest undoubtedly is great bur
den upon them and yet they do not faltcr I'M
der it. Then there is the numbering interest.
SO Frustrated from the failure of water. i'm
Banks having probably s.. OO0, 900 thus invest
cd. which is for the present so much dead D.
ital, and yet they do not appear to regard it.
1t is true. in the case of the Ellsworth Bank
some little arrangement occurred. but the evil
was only temporary. AS soon as a brief time
was allowed to arrange affairs. the Bank was
placed good a footing as ever 4 ground
less rumor affected the Ship Builders Bank
and run was made upon it. but it never
shrunk from its liabilities. The bills Of the
Bank ot llalowell are not taken at the Suffolk
Bank. but this is owing to some disagreement
between the managers of the respective insttu-
tons, which does not effect the ability of the
Bank to take care of the paper.
AS we said before our banking laws are such
that bill-hclder>. at least, are completely pro-
tected. We have the utmost confidence in
their general soundness. We trust that the
darkest days of their depression are over. and
whatever feeling of apprehension has existed
IN regard to some of them has subsidized. 1t is
for the interest of all that their credit should
be maintained inviolate. and guarded as they
are by wholesome laws, we should yield to
them orr perfect confidence. and thus tighten
the borden which just at this time presses hcav
lily on some of them. We consi cr our banks
among the best and safest in the country. and
We h ave full faith that they will never fail to
meet their liabilities. Such being the case ii
is the duty OF every one to discourage the false
ui,ti luie NnicN are sometimes put IN
circulation, in times of financial cml,arraSS-
ment. a gentleman, a day or two since. gave
us a case in point. Some one had made d =
post in the Wallsboro Bank. lie heard some
rumnrs that the institution was embarrassed.
and hurried forthwith to the bank. Presenting
his certificate Of deposit. lie told the cashier
that he had been unable to sleep the night be-
fore, from anxiety, and could not rest so long
as he had that paper on hand-he wished to
have it taken up and to receive something else
in It's place. 'Ncry we'll. Sir" replied the
cashier. what will you please have in ex-
chamge:" .Oh - said the careful old gentle.
man. - i've us the baHk bills If tie Emit Of
Paiaotoro'. and then shall feel safe The
cashier very checrfally accedcd to his request
and the old gentleman went Oh his way rrioic
ing. This was not a severe rHn-but it shows
how vague and groundlcss idea of Insecurity
may gain crcdence. and when once started its
consequences are not usually as harmless as in
the case TO which we have alluded We have
every reason TO have implicit faith in the
tonndEess Of the bank currency of the State
and IL is important to the welfare of our bust.
Eess Interests that it shonld not be shaken by
any groundicss rumors Or suspicious