Weekly Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1853-1861, 1856-12-25
Konstsry.

The following communication, upon the re-
cent Bank excitement, has been handed 10
us by friend, for publication. OF the justice
and appropriateness Of the points made, each
reader must Judge for himself.
Rumors have been a1oat for several days
ureiudicial to the Warren County Bank,
Penn; Erie City Bank, Penn; Bank of New
castle, Penn; Rhode Island Central Bank !;
the Exchange Bank at Bangor, Maine; Hart
ford County and Hartford Banks; and on
Monday the Banks of this city threw out the
issues of those institutions. The result was
panic among the holders of those bills. and
the Bank of the Capital relieved them of their
alarm at Eve per cent shave. We were una
bic 70 trace these rumors'' to any reliable
source, and our E stern exchanges contained
nothing which you s.y the suspicious set
afoat. Under these circumstances we thought
it unwise, by publication Of mere rumors, to
discredit the character of Banks whose paper
was in circulation in this section to eonsid-
cradle amount. It could have no good effect
certainly, and the result of the publication of
these rumors by other papers was, to give a
sort of authority to them which created un-
necessary alarm. 1t induced the laboring
man, the mechanic, the trader, and all parties
TO part with this currency at a shave and our
Bankers lazghed in their sleeves at the rich
harvest it was bringing them We have no
sympathy for Banks, but we cannot see the
propriety Of newspapers discrsditing their
issues unjustly and unnecessarily. to the dis
advantage of the public. Private specula-
ton may be the motive, we can conceive of
no other We should like to see the Con-
stitutionsl Currency, gold and silver, displace
all the small bank notes in circulation, but
this era we do not expect to witness until some
general commercial revulsion bursts the
paper bubble and forces it upon the country.
The N. Y. Tribune of Saturday last, states
that the Exchange Bank of Bangor, Maine,
had been thrown out by the Suffolk Bank, of
Boston and it was rumored that some parties
at the West had purchased it. The Suffolk
is the redesming agent of all the New Eng
land Banks and its being thrown out is unfa-
vorabls to the credit Of the Exchange Bank,
although no evidence of its failure.
fFor the Sentinel
TIE CRUSADE AGAINST THE BANKs.-l
Some extremely l0iss fnancier has the follow
this morning as a Communication
LyD1ANAPoLIs, Dec %.
EDITORS JOURNAL notice in your none
tary column that some Interested party speaks
of rumor being afo at IN relation to Hartford
County Bank cad asrtford Bank. Any per-
son with thimble full Of brains would not
suspect the Hartford Banks; and to classify
them with such concerns as the Rhode Island
Central and Erie City, is ridiculous in the
extreme. Has this community forgot the
losses on the VALLEY Bank" at Hagerstown,
Maryland?
A friend to good Banks is quite adroit in
placing Rhode Island Central and Erie City
in such good company.
The ear-marks of the above are unmis-
taxable. Its author is one Of few that are
left of the wonderful genius's of fast reced
ing generation. Hs has more than ''thimble
fall of brains" no doubt-an csertsinly more
than bucket full Of impudence. But there
is none % soIse as he,and he thinks no one 9TH
or than himself has any right to have any
opinion of money, Banks or business. He
comes down on those'concerns', the Erie City
and r. L Central, with his fat of doom.
He has probably forgot certain "concern "
nearer home, that, few years ago, suspend
ed specie payments, and drove its credit
ors to rely on its promises year or two, or
get nothing. There is "snobbism" In Banks,
as well as other places, it seems.