Weekly Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1853-1861, 1855-02-10


In 1870, Al, 40, the State Bank of In
diana was like all Western Banks, broken,
poor and helpless. 1t asked favors of the
public and they were literally bestowed
Now the same Banks and the same men tell
you that Banks that do not pay specie on de-
mand, ought to be wiped out of existence, and
that the Legislature that brought such abor-
] tions into existence be eternally disgraced. If
, the devil himself would not show more graft
tude than this, 1 would think him a poor
devil ~ indeed.
Had the Branches of the State Bank con-
/ fined themselves to the purposes Of their
creation, and administered to the requirements
of the sovereigns who gave them their being
that institution would this day have com
manded the respect and confidence of the
community. But in her departure from the
path of rectitude, she has totally disregarded
the wants of her peers, aud attempted to rule
the freemen of the State as she did twenty
years ago, as though the rapid development
of the resources and business of the whole
State belonged to its use by presumption.
/ Let us for moment examine the present
system of operations of tie State Bank and
Branches, and see how they discharge the Gb.
/ legations resting upon them by the terms of
their organization. At this time nearly every
| Branch in the State has its Brokers Office,
either directly indirectly connected with it.
/ The same men who manage the Branch, in
most cases manage the. Brokers offices also
The Branch has no deposite account. makes
/ few or no loans to outsiders, sells Exchange
and loans all her surplus funds to the Brokers
Office on very favorable terms. The Brokers
Office receives all the deposits, sells nearly all
the Exchange Loans, all the money at high
rates, and when she gets short of funds. gets
her bills re-discounted in the Branch at low
rates-lower the better for a bill may be dis
counted in the Brokers office, and in ten
minutes turned over to the Bank at one-half
Of the interest and premium, and thus too,
when bills of doubtful solvency are about
maturing, why turn them over ID the Bank
without indorsing, and if anybody suffers let
/ it be the Bank the State is part owner, let it
stand the loss-she is able.
/ Here is paIpable fraud on the State, and a
corrupt system of doing business, that is hard
/ to reconcile with honesty or fairness-it is a
/ fraud on the stock. holders, and violation of
the letter and spirit of the charter. Let our
| Legislature at once institute the inquiry, and
ascertain how these capital funds, and issues
have been used and distributed Let them
! luVulIe IL lHcSe nave hOL Dcei
denied to citizen. of their own district, and
whether they have not made large time loans
or otherwise, at reduced rates to foreign insti-
tutOns And if large amounts of their funds
have not been locked up in forcing transactions
for exchange or deposlte abroad; and whether
the same was not required and applied for al
home and needed in the regular business Ope
ratiOnS of the district in which it is located
There is large responsibility resting here
and the people of the State are now clamoring
at the door of the capitol for redress. Then
confidence has been misapplied. The totter-
ing and corrupt institution under notice claims
TO be unit. The human mind can scarcel liz con
ceive so great a monster, as thirteen such har-
pies in one corporal form. These thirteen
branches would like, it seems, to have som,
arrangement made to perpetuate there exist
ence, that they may pander to the interests
and fill the pockets Of set Of men, who will
an eve single alone to their interests, have
forgotten that they owed duties outside of thei
corporation, and had responsibilities for which
the sovereign people could call them to &C
count. Thwarted and disappointed in thi
hope, they have thrown out their full strength
into the scsle, determined to grind and oppres
those whom they could not bride or deceive.
A certain well known institution in Cincin
natl has commenced the attack. She was frs
on the bill of three pluck one" to discredi
the Indiana Free Banks--that she does al
ways act from pure and disinterested motives
you may set down as fact The Branche
of our State Bank dared not move openly anC
boldly in this matter, and secured the servi
ces of this " State Killer" the grand high prizes
of Ohio to raise the siege. This general cur
rency regulator the Ohio Life Insurance ant
Trust Company, was the first to attack tn
Stock Banks of Indiana, and with blood hounC
rapacty followed them while her strength las
ted.
Let the people of Indiana come to the res
cue and stand by their sovereignty. Let no
the sins of that old Jeldame, who uniteS thir
teen in one, be visited on the heads of you
posterity by perpetuat:ng her existence sin
gle day. Secure the best interests of the Stat
while you have the opportunity, and blot he
out from among the people, and let her g
down, with her iniquities at the appointe'
time, and all will be well. INDIANA"
THE LAST OF THE DEAD-HEADs.-A pas
serger on one Of our railroads the oth9r day
when accosted for the amount of his fare, re
piled that he mad nothing with him excep
one large bill, which he feared the cOnducto
would not be able to change. The latter
thinking from the mans general appearance
that he could not be very flush, replied th
change would be given for any bill he coulo
produce, whereupon the suspicious loonin
customer handed out an enormous Si0to-JiU
The con ductor as in duty bound, politel
presented him a check, and affec ionately en-
joined him to guard against all danger of pei
sonal injury during the trip.-Ohio Statesman
GEMI. Nm IA l. REPORT OF TIL
ceondon of the Indiana Bank at Maids IN, Ind, f
the six months preceding the first Monday &C mt
I5jJ
DIR.
Capital Stock, bonds with Audit