The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1854-08-24
Monetary.


The Bankers and Brokers in Cincinnati
ore divided into two parties, each endeavor-
ing to establish its own standard OF currency.
The Trust Co. and Groesbeck & Co. are
throwing out Indiana Stock Bank notes,
which the private bankers generally receive
in notes not below FIVE dollars. A certain
class of bankers in Cincinnati are now en-.
gagged in a most mastery but very dishonest
system of financiering, which is fast filling
their Golfers.
A correspondent of the Cincinnati Daily
Columbian, who is thoroughly conversanl
with money matters, writes as follows:
THE REASON WHY.-Bnquries are con.
stantly being made, OF your customers and
others, Of this sort.
"Who commenced rejecting the notes oil
the Peru and Rensselaer, banks! What
broker or brokers have been the cause oil
creating the present fuss in the monied affairs
Of Cincinnati! And what was the motive oil
said broker or brokers'"
The answer is plain, and the cause is clear
II is not denied that leading brokerage
house, on Third street, vas the first to reject
the notes Of the two bInks above named
consequently to il belongs the credit or dis.
credit of the present Unsettled condition o
our monied affairs. Tn, motive for their &C
ton, we think, is cleary set forth in their
advertisement in our city papers; wherein
they very kindly propose o purchase the small
notes of the Peru and Rensselaer, banks, a
Ira 10
will take payment in lsge notes OF the same
banks already at discount of about one pc
cent.-a very neat mod OF milking the pub
lie.
We clip the following from the monitar!
and commercial columi of the Columbian:
Indiana Stock Bank small notes, are takel
in exchange for pape of larger denomna
ton but of the same ciss at 2 per cent dis
! count by Ellis g. Stures. We observe tina
: this firm have taken on themselves, the Of
, fee of instructinG thepublic, what course Il
4 pursue in relation to thr monetary affairs
The banks who determine TO prop up the oil
standard of currency refuse checks upor
those parties who py out Indiana Stool
funds, whereupon Els g. Sturges issue tn,
following advertisement, which we beg leav,
to insert gratis.
Enquiries are conssntly being made CT US
by our customers and hhers, of this scrt:
ave have note aie at the Trust Com
pany,' or at 'Groesbec; d Co.'S and the,
won't take check onyou for it, nor viii
e they receive the mcneyyou pay out in pay
r ment. What shall welo!"
The answer is plain nd the course to b.
taken clear. II the noe is local one, an,
j. held or discounted heretender the money t.
n the endorser; tell himyou ask no favors
there is the bankable mney ifitis a foreign
4 paper, let il return, an we will sell you
draft on The point whet it came from, which
= will 60 by the same ma. In either case, i
the holder wishes to priest, let him do so
q you returning for ansser, we are ready a
! any time to pay tbs paper in funds recog
nized as par by all he banks and bankers il
! the city, except "GOesbeck & Co." and tn,
e "Trust Company" II any of the parties
o prefer holding youipaper to the bankabl'
=. money, let them dc so-it can do you NJ
> harm. The gen,lenn at the head of thes,
% Institutions are clev, people. no one doubts
but they have no patti right for controlin.
all the trains, nor ailhe money in town
" at least, we think il open question.
: Ellis IL STURGES.