New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-10-30
INDIANA BANKS.

To he Editor Of The ~ Y. Tribune.
SIR: In your paper Of the 10th inst. you copy from
article which recently appeared in The Cincinnati
Gazette and which pretends TO give the public some
information in reference to the Free Banks of Indiana
In this article the following language occurs: "The
"fun upon the Free Banks was simultaneous aud
"heavy, and most Of them, we understand failed TO
"respOnd to the calls made upon them; and further
on the following: " That these Banks unable 10
"redeom their paper and that they will be forced to
"wlDd up, is quite apparent.
So long as the circulation of these statements was
confined TO the columns of The Gazette, few people
woud think it worth while 10 contradict them. The
habitual readers of that paper know that either from
ignorance or malice probably both, IFS money arti-
cles entirely unworhyef credit so far as they re-
late TO the Free Banks of Indiana.
But the readers of TIE TRIBUNE do not all read
The Gd=~te and do not know what value to give to
its statements ask, therefore, for little OF your
room to correct them.
Charges general as those made by The Gd:ette,
are difficult TO deny except in terms as general Llv,
ing, as do in Indiana and being largely Interested
in one Of these illuminated banks, which handles
daily large amounts of the notes Of Others my oppor
turtles for knowing something this subject at
equs hose of the editors Of The Cincinnati Ga'e and
do moi that the statement that th Free Banks
Of Indiana have generally failed 70 respond when called to
redeem their psper untrue and believe the statement tht
they are generally unable redeem their quite
however apparent 1t may be " those gentlemen
That the people Cincinnati do not rely upon The Gazette
and do not believe its ports sufficiently
that the merchants Of that city Immediately after the pubs
thirty and forty Of these banks whose paper they offered "a
and proposed TO increase the number ad3
information obtained Only two days aga was assured
ov runner Of OF the Cncpls houses $50 caed)
whose exclusive bu6s for time has been return bank
Or that he had been all Indians and had Wis
tied at least thirds Of the Free Banks within short time
with their paper for redemption and eeTy eae CON hsa
been psd to him promptly and freely.
have doubt. however though have no personal KNOW
edge of the fact that calls have been made Free Banks
which have been promptly met and believe thar some
banks winding up, and that others will be compelled TO
And Is that few OF the banks Of New YOrksome OF
in the City OF York-hsye failed and also true that
Of the bar and three Of the bankef Cincinnati
and Of the banks of Kentucky have recently failed but
how well would be 70 OF the banks OF
NewYok and of the banks aud bankers CINCINNATI and OF
the banks Kentucky that they had generally failed. The
who would publish such statement would properly be
called hbeler.
One part Of the quotation you from The Gazette is
doubtedly true viz that the upon the Indiana banks
well Free has been simultaneous and heavy The
truth TO- large Of the capital Of the Cincinnati bankers
coed deal that Of the Bank of Ohio, has been
for months past travelling State In carpet bags en-
gagged in this highly reputable and productive trade.
Considering the extent Of this and the general complaint
selves well and should them be unable eontnue
do have hight TO infer from the past anything 10 their
dscredt
u" - this time Tie Cincinnati Gazette has given, on ils own
authority the OF three Free Banks Of indiana which
said had failed since corrected the report IN regard TO
two of these believe should do regard 10 the other
Besides this has given in quotations from other papers the
names of perhaps three others This the extent
its specf information this subject II It's editors us
fed In dscredng all Free Banks they IN duty bound TO
ave The public the benefit of their Information IL Is
noush 10 saw tina, many Banks located points
not easily accessible admit and this but their allure
is quite another thing. CITIZEN VI lNolANA