The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1854-11-23


with probably one exception, concluded to
throw out the notes of the Illinois State
Stock Banks. This has led as to direct spe-
cial attention to these banks, to ascertain
how they are considered in other places
Knowing the notes Of these banks to be 5as-
ed upon good interest paying stocks, and
worth every dollar they called for, we were
q little astorished that even if two or three
of them had closed their doors, bank
ers acquainted atal with the system upon
which these institutions were founded should
be disposed to diseredit the whole batch. To
give better idea of the Illinois system Of
free banking, we extract the following card.
which was published in Chicago during the
late bank excitement:
To THE PuBLIc:-The undersigned feels
called upon, at this time of monetary excite
ment, to make public statement for the BEN
fit of such persons as are not in the way Of
becoming correctly informed a. to the value
of Illinois Bank bills of suspended banks.
Every Bank in this State, under the Gen.
eral Banking Law, has deposited with the
Auditor, in the hands of the Treasurer, GOOD
INTEREST PAYING bonds Of the several States,
to the FULL amount of every dollar Of their
own bills; and all registered money is EQUAL
III secured, one bank with another. Those
that have closed their doors have in no way
deprecated the security for their bills-they
are of their FULL VALUE Now-but cannot
command specie until the Auditor disposes
of their bonds or securities accordingto law,
which is required to be done Immediately, at
which time due notice will be given, and the
bills redeemed in specie. No sacrifice should
be made on Illinois bank bills whatsoever
not even suspended banks.
p. MAXWELL, Bank Com.
CHICAGO, Nov. Is, 1854.
The suspended banks have given notice
that they will resume business at certain
dates. The alarm appears to have entirely
subsi1ed at Chicago, and the notes are pass
ing freely as ever. The principal wholesale
merchants of Chicago have published care
in which they declare their entire confidence
in the stock secured Banks of Illinois.
At st. Louis there was little excitemen,
for time, but the following card, signed b,
thirteen banking firms, appeared to have
fully succeeded in restoring confidence il
the Illinois Banks:
Alta meeting of the undersigned, held thi'
day, the following preamble and resolution
were unanimously adopted: .sh
Whereas, it appears that feeling per
vades this community that the notes OF |
great majority of the Banks o: Illinois icon
shutting share of the circulation OF thi
city) are at the present time peculiarly sub
jsct to distrust. and that the customary cred
kSof these Institutions is measurably fsilihs
u sthis community, therefore.
tResolued, That in the opinion Of the sub
scfibers, Bankers and Brokers Of this city
H.sregard this feeling rs wholly snnecesss
ry md unwarranted by. the real cordition Q
the great majority of these institutions.
Resolved Further, That in the reception
currency at our respective counters, we wi
make no unusual discrimination against III
notes Of these Baaks. nor counteoance Ii
discredit of any Bank (not known OF BELIEF
ed to be insolvent or suspended) by reje'
ton of its notes.
Resolved Further, That we recommend
our citizens generally q restoration Of III
confidence which they have heretofore maj
ifested in the circulation of the above name
Banks, and the dismissal of any uneasy al
prehensions respecting their safety.