Weekly Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1853-1861, 1856-01-03
MORNING, JANUARY 81, 1855.


how the affair was managed. Tkesesgentle
men received their first information upon the
subject of the opening of the books, about
twenty minutes after . o'clock, A. M.-when
it was announced that the stock was all taken
and, that a citizen of Indiana, who perhaps,
WAS never in the city of Richmond before,
was the owner of nine-tenths of the whole
stock of the Richmond branch.
At some of the branches, the stock was
taken in ten minutes; at otlreis in half AN hour;
and, at some, neither the books, nor the doors
of the house, were opened. | am advised,
by the bestaof citizens, that at "A large maior-
ty of the branches, the opening of the books,
and the taking Of tha stock, were solemn far
ces; merc moekeres. AT two branches suits
have been brought to set aside the acts of the
sub-commisSioners. One suit was decided
below against them. The other is not vet
determined.
1t is one of the objects Of the suit TO which
yOu refer, to set aside the acts of all of the
commissioners. The view taken of the aues-
tion by legal gentlemen, is, that if these acts
be set aside, the books cannot be opencd
again, without an act of the Legislature In
this way, the whole question may be brought
before the people, even should the suit fail,
upon the decision of several constitutional
questions, IN the courts of the State.
| have procured from the Secretary of
State, from the files in his office, a state
ment A of the shares of stock, from two
hundred upwards, taken by the same person.
By this statement which will be found
below, thirty persons in Indiana, have ma
joritv of all the stock; the controlling infiu-
cnce in what is imposingly called the Bank Of
the State Of Indiana; the exclusive right to fur
nish currency that must affect our trade
aud commerce for the next twenty years.
This is, surely, a remarkable state Of affairs,
for which, believe, no parallel can be found
in the legislation of any other State. Sever
al gentlemen were at various points, on the
same day, engaged in taking stock.
You have, herewith, an article taken from
the "National Guard" published in Scott
county, Indiana. [Bl Some solid, home truths
arc contained in the article, which, | trust
you will attach to this communication
1t is truly stated that purchased one share
of stock in the OLD State Bank. This was
done, with the view of enabling me to raise
the constitutional question, to the validity Of
the new Bank charter. This suit will be
prosecuted. T..o others will be commenced; t;
one Immediately, in the name of the State
These suits will be carried through our courts
to final decision; and if, ultimately, it shall
be decided that this new banking institution
must be fastened upon the people of the
State, for the next twenty years, it will pre-
sent, in its course. from its introduction into
the Legislature till the present hour, veri-
fication OF my oft repeated saying that,
with many OF the politicians of of these days,
the two leading ideas are Washington CITY,
and the PentertiWy; or how TO reach the
one, aud avoid the other.
Many well meaning citizens were deceived
and misled with respect 10 the nature of this
new banking institution, and some were in
duced to take part in its organization. In NJ
state OF things that can arise, is it possible TO
give such AN institution any character or credit;
the charter itself containing many privileges
and powers which 10 fair capitalist would de
sire. In fact, its whole history, from its com
mencemeut, presents 1t in All aspect 80 unfa-
vorable, that i; Is the duty of every good cit
izen to contribute his Inite to wipe it out of
existence. For the sake of the honor and
credit of our own State, ihope that the Stat
uies may ne ver ass,ih be incumbered with IT'S
like.
| have the honor to be, Yours, most Res
peclfully,