The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1857-08-28

Na6oning COaaty Bank.
Nmount Of Bond,.... ,...........,. 81 500 o.
Circulation ,....,.,.......,......,. 977Is o
Circulation over bords...,....... 2is "
Western PsssrVs Bank.
Amount Of bonds s...,......... Sls0s4a "a
Circulation ''.s ..s's'.s' ....'''''''' lRO6Il o.
Bonds over circulation. &i77, o.
Bank Of GeaUga.
Bonds deposited ..... ....s..,,, 90, $50 li0 on
Circulation n...,..,.....s,., ....... . l5OlIl o
Calculation over bopds..,....,,," $40
City Bank Of Columbus.
Bonds deposited .... ..,....,.,.. 80, ga ,OOO ~
Circuladod ....,..' s'''''s's'.'. 10000 o
Commercial 5dnt of Cincinnati
Bonds dcposited,.. .... ....s... ...s- $4,000 on
Circulation (suppOsed) -. '''' ''''''- 36i 90
Circulation over bonds SS6l ~
Dayton Bank
Bonds deposited zee, ..... ..s......,.,, t44 .O80 90
Circu ,atiou..,. ...s...ssss ''s's''''' SO 676 ~
-.--
Circulation over bonds .,,..,,.. &9,595 o.
.Ssaeca County Bank
Bonds depo stod tod............,.....- t7I, $50 O,
Chr ulatou ...'..., .sssss's'' 2O3, asa o.
Circulation over bonds ,.,, Si3i 9l4 "
The circulation Of the Indppenden,
Banks under the law Of iS41, is entirely
under the control Of the State Treasurer.
IL is based upon certificates Of the fund.
ed debt Of the State and Of the United
States. which are required to he deposit
ed and transferred to him. Upon the
deposit Of these stocks, he delivers notes
Of circulation TO an amc unit equal to the
value Of such stocks, He prooures the
blank notes Of the engraver, numbers and
regi ters them, and issues them TO the
different backs as they are required for
circulation.
These certificates or stocks are the
securities Of the bill holders. They are
the basis on which the credit of the
bank is founded. The bill holders look
to these bonds and TO the plghted faith
Of State which has never failed to fulfil
her promises and meet her engagements,
for the redemption Of the paper Of these
The failure Of an independent bank
does not affect the value Of its notes.
This neither rises nor falls with corpor-
ATE vicissitudes. IL is founded on the
faith of the State, and the State has
made itself the custodian Of this credit.
This department should, therefore, be
conducted with the utmost strictness.
Such checks should be established as
should prevent the abstraction Of those
bonds and the application OF them to pri.
vate purposes. Every precaution should
be used TO prevent lbe issue of paper
above the value Of tho stock deposited.
rhe account should be 50 kept. and
every official cot in relation to them so
recorded and attested,, as TO exhibit a
clear and full history Of every transac-
tion. detect any error and remove the
shadow Of suspicion or doubt.
Though there is no reason TO think
that this department Of the Treasury has
not been, Except in the case of the bonds
Of the Seneca county Bank. fairly and
houorably conducted, yet that strictness
mas not been observed which the law
requires and the public interests demand
Blank notes have been destroyed withoul
record having been made Of their dc.
nomination and amount. and the account
with one of the banks kept in so loose a
manner. as to exhibit a very untrue stat.
of its condition. TIE account with the
City Bank Of Columbus on the books OF
the office, is as follows " Statement Of
the stocks and circulation of the City
Bank of Columbus, rs shoon by the
h....l... ..f IL M......n.. N