The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-08-26
EVANSVILLE, IND.
Ohio Life and Trust Company.

produce a monetary CONFUSION through
out the West, if not through the whole
limits Of the country. 1t is an institu-
ton that has enjoyed the most unlimited
confidence at home, and possessed the
firmeSt credit among American corpo-
rations in the European market, for
forty years. In all former monetary
crisises OF the country, public confidence
in it has never wavered. In the uni
versal suspensions of specie payments in
1887 it was the only bank in the country
almost, that perSevered in the redemp-
ton all it's obligations in specie. Its
charter was perpetual and its franchises
were deemed so valuable that it could
not risk their preservation by suspension
when the country seemed to assent that
all similar institutions-might for the
public relief be released for period,
from the penalties Of suspension. IL
stood firm and steadlast when all others
yielded That such an institution in a
season of comparative ease--with the
bright pecuniary prospects which now
cheer the country, should suddenly fall,
without single admonition Of weakness
or arrangement, will produce most pro-
found establishment. 1t will shake the
fabric OF credit everywhere. In Europe,
its effects on American securities will be
most disastrous. 1t viii arrest all new
necotiations-and it will cause return
food of those which have been purchased
there for permanent investment and q
tide Of the precious metals will go out
Of the country in payment Of them that
will reduce the narrow basis of our pres
ent bank issues. 1t is difficult to pre-
dict the wide effects Of the disaster.
Upon US and our immediate neighbOr-
hood, happily it can not have much
effect. The old Bank has just closed all
its affairs and settled its own obligations
The new State Bank has not yet entered
upon its career, and has but few loans
out. and no obligations issued Our Free
Banks have been so hard pressed by the
Cincinnati runners for the last six
months, that they have been reducing
their business to the narrowest limits oil
prudence and safety. They are beyond
the reach of disasters and commissions
We are informed that though our Banks
formerly kept accounts with the Life and
Trust Company, they have gradually
withdrawn their business from that
Institution, not from any want of conf
dence in it, but from the imperious and
accommodating spirit it has manifest
ed towards what it denominated pro-
vincial banks-and for the last few
months they have had no accounts OF
dealings with il.
Though the great calamities may fall
so lightly upon US, we cannot but tremble
for its effects upon those around us, and
especially upon the inflated and unsound
condition of money affairs and credits il
the great Northwest. 1t will fall there
we fear with the startling effects of Gen
Jackson's specie circular upon the ex
pansions at the West in 1884 and 80
like the lightning from a cloudless sky
like the knell of death amid a reyel
when hopes were brightest and tbs
throng was gayest and most thoughtles:
of danger. We may congratulate our
selves perhaps that we are not among
the fastest ones. Old Fogyism is, per
haps, to have its day-and may, for
season, boast of its wisdom and prudenc,
undisputed.
The capital of the Life and Trus
Company, is, we believe about $1,000,
coo; its liabilities are reported to be be
tween 100000 and S7,000,OOO. 1
has not for many years issued any note
as currency. Its liabilities are upon it
bonds-its trust funds-and to its de
positors. Its defalcations will fall chief,
therefore upon capitalists the peopl
at large will be but slightly affected b.
the failure except by its consequence
upon the general business and currenc,
OF the country. Yesterday the panic wa
greater apparently in Wall street, thai
in Cincinnati, we presume, from the fac
that its loans were chiefly made in tn
latter city, where the people are it
debtors; and in New York its credit
and liabilities were principally created
We may magnify and misapprehend tn
extent of the evil consequences of thi
unfortunate event, but we apprehend
will form the crisis Of disasters which tn
bears have been SO confidently predic;
ing for the last six months.
"a Sambo a Citizenl
The Supreme Court OF Maine has de
cided that free colored persons of Africa