The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1854-10-28
6- The St. Louis Republican of the oath
contains the followino.

contains the following:
"BANK REPORTED BRoKBS."-lt will be
enough for the Bankers and the Brokers to
keep their shirts Onto use an inelegant
phrase-in the excitement about the notes
OF particular class of Banks in Indiana |;
Banks which the money changers in Cincin-
natl have sought to dscredit, and in doing SO
have brought themselves to the ground, by
causing the withdrawal of their depostes.
We confess to every little sympathy with
these efforts to "discredit" Banks which
have, so Tar as the circulation is concerned
positive basis of dol lar tor doliar-that is,
for every dollar of State Stock deposited
with the State Auditor in Indiana, one dol
lar is issued to the Bank, and no more; and
this Stoch is held for the redemption Of the
notes. Some immunity, we believe, is grant,
ed to the Banks-say thirty days--in which
to redeem their notes in specie; but if the
State Auditor be worthy of this trust, it is
hardly possible that any very serious loss
can result to note-holders, ii they can afford
to keep their shirts on, and 10 the people to
Keep quiet. 80 far, the only damage from
the movement in Cincinnati has been to the
Bankers in that city-some of whom have
shared the fate Of the Banks and suspe nded
payment, for which they were quite as ready
as the Banks. There is no necessity for
any excitement In this city-there is no very
large amount Of the notes of the Free Banks
Of Indiana here-and little judicious man.
agement on the part vi our Bankers will save
themselves and the public good deal OF
trouble. We will not interfere with those
who desire to exchange their Free Bank In
diana money for specie, at discount, if they
go please; but the example of Cincinnati is q
bad one to follow in this city.
The city has been suffering from the evils
ofinjudicious-nott to say neutrality-suspicious.
in Ohio. The Legislature of the State has
been in the hands Of the Locofocos, and their
effort seems 10 have been to put down all
home Bank, by taxing them 90 heavily as
to make capital thus invested unproductive;
and at the same time that they have done
this they have tsbooed all notes of demon.
inaiion under ten dollars isseud by Banks of
other States. Such measures were Of course
circulated to derange the currency, and on
the first of October, when this law went into
effect, there was really no substantial cir.
culating medium in Cincinnati or Ohio.
There was not an adequate supply of coin
there was no Ohio, or Kentucky or Indiana,
State money; and the deprecated currency,
and in little while it will be done, though
at very great sacrifice.
But our condition is essentially different.
We have sound bass-we have specie and
Missouri Bank Dotes-and everything else
10 made to assimilate to this basis. There
is comparatively little Indiana Free Bank
money in circulation, and if the Bankers do
not wish to get up panic, all they have to
do is to return the paper they have on hand
and refuse to receive the discredted paper on
deposit, If this should become necessary at
all. This may procure temporary inconve.
nience, but nothing more, and when /. is
once understood that a particular descrip-
ton Of Indiana money is not received
here-for no one yet knows what is, or
what is not, placed under the pan--the little
excitement that exists will cease.