Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1858-08-28
The Chicago Movement Against Wis.,
cOnsin Money.


1t is already evident that the attempt of
the shavers and note brokers of Chicago. to
make pile by discredting the issues of some
thirty of the Banks of Wisconsin, is about
to prove even worse failure than attended
a similar attempt from the same quarter last
fall, aided though it then was by the panic of
the monetary crisis. Even in Chicago itself
the movement has already been met by a
strong reaction. AS evidence of this, we copy
the following from the Chicago Democrat of
the Goth instant:
EXCITEMENT ABOUT WISCONSIN MONEY
There is considerable feeling in our CITY, in
reference to the refusal of some of our banks
to receive the bills of large batch of Wis.
consin banks AS reactionarv movement
all the Railroads centerng in this CITY have
agreed to take these bills at par, and MIR. S
ID. Scott, cashier of the Juneau Bank at Mil
waukee, telegraphed to A. II. Peters. ESQ -.
agent of the New York and Erie Railroad
this morning, that that institution receives
all kinds of Wisconsin money. The New
York and Erie Railroad office in this cit,
also announce their readiness to receive Chi;
money for tickets, and our business men gen
orally receive it at par.
We understand that the Marine Bank yes
terday was taking some eight or ten of the
tabood banks as usual.
The money is we'll secured, and the public
should not submit to shave.
The central paper of Wisconsin, the Madi
son Journal, of the 18th instant, thus alsc
speaks of this Grand Shave Operation origi
mated by George Smith & Co, (of Georgi;
Wild Cat notoriety,) to discredit the banks o
that State:
alt is rumored that this movement is tn,
result of the spleen of some Chicago bank
crs who were making arrangements for al
extensive brood of wild cats In the wilder
nesses of Northern Wisconsin, and were
disappointed just as their scheme was ripe
for realization by the recent more stringent
regulations respecting the location of Banks
Among the banks thus attempted to bt
discredited, are two at least, that cannot
riehtfully be classed among the wild cats
the llercantile Bank of Beaver Dam, and the
Wanpacca County Bank. These two institu
tloHs are both doing a legitimate business, i
we are rightfully informed, at accessible
points; the President of the latter being Mr.
Dufur of Waupacca County, a member of the
last Assembly, and we'll known as reliable
man.
"This movement need create no panic If
regard to our State currency. The wild cats
even, are we'll secured, by State Stocks, ant
if wound up their notes would be redeemed
dollar for dollar, at the Bank ComptrolIer's
office. Moreover, our bankers here, together
with the officers or owners of number of the
banks thrown out at Chicago, have already
held meeting, at which measures we're talel
to secure the redemption of the currency o
all banks located at inaccessible points, either
at Madison or Milwaukee. This will place
them upon an equal footing with other banks
and put an end to wild eating by removing
the inducement thereto The action of the
Chicago bankers, therefore, whatever may be
the motives which prompted it, is likely to be
more productive of good than evil"
In addition to this, we call attention tc
the card of our ST. Paul Bankers on the sub.
Iject.
We suspect the Interior-Bank- of. Georgia
Wildcatters here or elsewhere, will have to
give up this Shave in dispair of realizing
much out of it!