The Richmond Indiana palladium. [volume] (Richmond, Ind.) 1854-1855, 1855-01-19
State Bank Of Indiana.

There being at this time much comm otion in
money affairs, and much discussion and inquiry
amongst our people in regard to reliable and
suitable system of Banking in this State it may
not be improper to say something in regard to the
State Bank.
The charter of the State Bank has two years
to run from the first day of the present year,
when its discounting privileges expire; but it has
two years more to wind up and close its business
The State Bank cannot be re-chartered, or its
charter extended, as II noo is, under the new
Constitution, for the reason that the State is
large stakeholder in the present Bank, but cannot
be a stakeholder in any Bank hereafter; and that
the stockholders must hereafter be individually IL
able for an amount beyond the amount of their
stock.
Another Bank. upon the same general system,
with such variations mig ht adapt it to the new
Constitution might be chartered and esta blished;
but if SO done, every citizen of the State would
have an equal opportunity of taking stock there
in. whether stockholders in the present Bank or
not. Itwould be entirely new Institution.
Neither the present State Bank, as a corpora
ton, nor its stockholders, are asking for new
charter or an extension. No application of this
kind will be made to the Legislature, directly or
indirectly. as re- charter upon such provisions
the Legislature has power to give is neither ex-
Pected nor desired. and SO far as is known,
would not be accepted. If however, the Legis-
lature shall see proper to create new State Bank
upon the same general system as the present,
with such changes as might be required and de-
sired. some of the stockholders in the present
Bank might be inclined to take stock in common
with others, in the new institution, if, in their
judgment it would succeed TO be profitable, and
attain to that high and honorable credit the pres
ent Bank has attained.
The stock of the present Bank has paid well,
generally. from the first to the present time; its
notes have circulated freely through the whole
Mississippi valley, from the Gulf Of Mexico to the
Lakes, and few institutions Of the kind, if any,
have ever enjoyed greater share of credit and
confidence. These are facts too we'll known 10
require any proof whatever. The Bank will
have earned for the State a million OF dollars
of clear profit, for educational purposes. besides
having supplied at all times safe and reliable cir
culation and afforded extensive facilities, accord
ing to its capital for the assistance of commerce.
The circulation of all the Branches of the State
Bank has been rapidly and largely returned upon
them during the last season. for coin and
change. in common with all other access BILE spe-
Gle paying Banks in the West; and her ability for
usefulness to the public has, on that account been
somewhat lessened, or reduced into narrow
bounds; but yet she has done much for the
sisrancs Of trade, and the export of the surplus
products of the State; and she is now in an ex-
cellent and healthy condition. her recently
published statement viii show.
If, therefore. the people Of the State should in
cline to consider the propriety of establishing a
new State Bank to take the place Of the old. the
question may be fairly and calmly considered,
without selfish or party prejudices, and with sim
pie reference to the best interests OF the State.