The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1855-02-13
BANK MEETING.

- BANK MEETING.
At meeting held in the old court house
on Tuesday evening, the 9th inst. for the
purpose of considering the propriety of
chartering a State Bank with Branches. and
free interchange of opinions on the curren-
cy, .ss go SO, s-.s.. i.. q
On motion, John s. Hopkins, Esq. was
called, tor the !chair, and Henry C. Gwath-
mey, Esq, appointed Secretary.
The purpose for which the meeting was
called, was explained by Jas. G.. Jones, Esq.
On motion of M. S. Johnson, Esq. a com
mit,ee of four, consisting Of NJ. s. Johnson,
Jas. G. Jones, Henry C.. Gwathmey and
William Hubbell, was appointed by the
Chairman. to prepare and reportto the meet
ing resolutions expressive Of it's opinions in
relation to the object for which it was called.
The committee, by NJ. s. Johnson, its
chairman, reported preamble and sundry
resolutions, which after some discussion were
'recommitted to the same committee, with in.
'struc,ions to report to an adjourned meeting
on Thursday evening next. teiee .iga'
On motion, the meeting adjourned to
meet again on Thursday evening next in the
new Court House.
Thursdayevenng the meeting met PURSE.
ant to adjournment, and after reading the
minutes of the previous meeting, the CON-
mittee to which the resolutions previously
offered had been recommi,ted, reported for
the consideration of the meeting sundry re-
solutions. After considerable discussion
Mr.. Ingle offer d an amendment, pending
which the meeting adjourned to meet atthe
same place on Friday evening. ttla 4
/ Friday evening the meeting re-assembled,
and thereupon MI. Jingle withdrew his amend
ment, and Judge Baker offered preamble
and resolutions as a substitute for the report
Of the committee, and thereupon Judge Eos
ter offered an amendment to the substitute.
After protracted discussion, the ame ndment
was on motion laid on the table, and the pre-.
amble and resolutions offered by Judge Ba /.
ker were unanimously adopted and read as
follows: f,i 80 ID ..s. e
WHEREAS. There was a t the time of the
adoption Of the consultation of this State,
and still is a diversity of opinion on the sub
| ject Of banking, anu the constitutional pro-
visions on that subject were the result Of a
compromise, and contemplate two distinct
systems, and as one of these systems, that of
a bank with branches without collateral se-
curity, in which the State is not a stockhold-
/ er, has not been tried, and the other, that of
general banking.has not received fair trial,
owing to many imPerfectons in the present
law, it's defective administration, aud the
fsgrant abuses to which il has been pervert-
ed by many of the banks organized under it;
! and as these systems Of banking are not ne
cessarily antagonistic and each Is entitled to
fair trial, and both may be put on trial at
the same time; therefore gfrs. aaoIf. %
| RESOLVED, That the General Assembly
should, at it's present session, authorize the
esta bishment ofa Bank with branches, with.
out collateral security, to conform as nearly
to the plan Of the present State Bank OF In
i diana, as the Constitution viii allow. q sf.f
4 Resolved, That the present general bank.
ing law ought to be amended without- delay,
90 as to accomplish the following objects:
J.. The speedy liquidation of all the non
specie paying banks, and the Applicant on OF
their effects to the redemption of their is
\ sues. . SIN
|. 2. Requiring all the specie paying free
banks TO comply with that provision Of the
Constitution which requires that the fsdemp-
4 ton OF their issues shall be secured by ample
colIaterals curity readi convertible INTO specie.
, 8. To prevent the establishment or con-
tinuance of banks in places where such in.
stitutions are not needed, and prohibit the
use Of u name or plate calculated To lead the
/ unsuspecting to confound their issues with
the notes of other banks having a similar
name or plate. Let each bank have u suita.
bic name, easily distinguished from that Of
every other bank,.ai proper local habitation,
and let all its issues have an honest counten-
ance. -'si.f - tsotaa -l.+
4. Requiring security to be deposited to
the amount of at lie st $4,000 by each
bank before It can issue any paper. and pre-.
! venting the reduction of such security below
that amount, unless the bank is in process OF
4 iiqudation -sfs s1'-l6ti ~ -. )fs srrei .
5. Requiring each banking association to
consist OF at least eleven shareholders, and
that at least one.fourth of the stock should