New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-12-06
BANKING OFFICE OF J. THOMPSON,

No. WALL ST., NEw-YoRK, Dec. 4, 1854.
To me Editor Of The n. y Tribune.
SIR: In your paper of Saturday last appears an ar
ticle in relation to Indiana banking affairs, in which
you state:
1--WE also hear, what we scarcely credit that while
Of the Free Banks ming their notes through he
IS 90 per cent hey buying these same stock. 10 New
them At par We hear that three officers in the Auditors De-
psrtmen constantly occupied in getting oat notes"
Having myself just returned from indianapolis,
where have been during the past month, spending
much time in the Auditors office, In simple justice
TO Mr.. Dunn beg TO say that your inform ant of the
above is entirely mistaken, and either knows nothing
of the true state of affairs or is wlfuy msrepresent
ing things
The notes in question are of the following Banks:
Fay ette Co. Bank, New-York and Virginia Stock
Bank, Orange Bank Shawnee Bank and New. York
Traders Bank. OF these Banks, the two first have,
to my certain knowledge, always paid specie; the
second two think have done so, but, at any rate,
they were new Banks and never had issued but few
notes and the fifth has never yet issued any. Aud,
moreover the Auditor instead of receiving stocks
and issuing notes on Them is merely registering aoi
coumersigning the blank sheets on hand which 10
all probability will never 60 in circulation His OBJ
ect in doing is to secure the last pickings of his
Office which he vacate5 in short time. Auditor
Dunn consrues the laws that he is entitled to pay for
registering and countenignng, although the issue
may never be made
In making the above statement | do not desire to
exteU uate the conduct of Mr. Dunn any further than
lowing Judge Bowen the owner of five scamp hanks,
TO cut the coupons from upward of half million Of
securities deposited with him collateral for circua-
ton, is alone sufficient 10 condemn him. But the old
saying "Give the devil his due, should always be
regarded. The Auditors perqusites for issuing and
caDceliDg feebank notes said to have amounted,
during his term of office, to above eighty thousand
dollars. His policy has been admirably calculated to
increase his perqusites The issuing of seven millions,
and canceling of four millions in the brief space of
two years, beats anything in the history of paper
money
Things now assuming more quiet character In
Indiana. The Auditor is still canceling about forty
thousand dollars per day. and the circulation is
reduced to about three and half millions Of which
upward Of half million is held by the Banks, leav
ing less THAN three millions in circulation. 1t is a
matter of regret that many OF the newspapers OF the
State, instead of trying TO alay the excitement, are
e1erting themselves TO fan the flame by constantly
making the most low and scurrilous attacks upon all
| who venture TO present their promises TO pay"
This is done through the influence of the Bankers TO
deter people from asking redemption of their notes,
but they TO have lost sight OF the fact that in
doing they deter the public from ever again touching
en- Indiana Free Bank note.
! My mission TO Indiana wifuy misrepres ented
by papers Of that State. My object to ascertain
! which banks specie-paying, and which were
suspended for the desire of The Bank Not and
Commercial Reporter 10 encourage the banks ~ con-
time specie payments. Yours respectfully
SAMUEL c. THOMPSON.