Nebraska advertiser., 1858-07-08
Banking in Nebraska.

We are opposed to granting any more
Bank Charters in Nebraska, and in ia
vor of wiping out all heretofore granted,
that have closed their doors; and, fur
Their, around those that have sustained
themselves, we are in favor of throwing
such guards, projections, or restrictions
as will give confidence to the bill-holder.
We are opposed in the first place to gran
ting Bank Charters in Nebraska, because
the United States law, passed July LIST,
1886, Section /, which reads as follows,
is yet in existence, and such grants,
therefore would be unconstitutional.
"SEc. /. No act of any of the Terrific
ries Of the United States Incorporating any
institution with Banking powers or priv
ileges, hereafter to be passed, shall have
any force or effect whatever until ap-
proved and confirmed by Congress-"
We are not prepared to say we are op-
posed to Banking in toto, and in every
form, or byany principle whatever. There
is perhaps, owing TO the nature Of the
business of our country, a demand for
something of the kind. But where and
when they do exist, the most ample secu-
rity should be given the bill-holder; and
the Banker or Bankers should be money
lenders not money borrowers.
We are opposed to more Banks in Ne
braska, because we have not the home
capitol to engage in a legitimate safe,
reliable and healthy system Of Banking,
and the consequence would be as has
been, that nonresident operatives, un-
known, unreliable men conduct affairs,
and upon regular "wild cat'' principles,
and in the end the people are most sham
fully swindled out of their hard earned
means.
As shedding further light and in sub
sanitation Of the foregoing idea, we give
place to the following extract from a COM
munlcatiOn in the St, Louis Republican,
written by a resident of this Territory
evidently well posted. He says:
"The Nemaha Valley Bank. located at
Brownville, and which is suspended, is
wholly ownedin the State of Illinois. A
part of the Stock of Platte Valley Bank,
located at Nebraska City, is owned in
he Territory, the balance in Missouri
and Illinois. The Fontenelle Bank of
Bellvue, located at Believe, which is hope
lessly defunci and the grossest swindle of
the whole is who'll owned in Illinois and
Iowa. The Western Exchange Fire, and
Marine Insurance commG2ly called the
Western Exchange Bank located at
Omaha City, and which is also suspended
IS at present wholly owned at Galva, Ii
lnois, and was formerly owned in Iowa
and Iii. The Bank of Nebraska, loca-
ted at Omaha, is wholly owned in Iowa.
The Bank Of Florence, which has also
suspended is also owned in Iowa. The
Bank of De Soto, located at De Soto, is
owned in Wisconsin, and the Bank Of Te-
kamah, located al Te6amah, and which
has fecenuy S~oSpeHueu, u (WHICH IN HUI
ana and Missouri. These are all the
banks in the Territory--an others have
t no legal existence whatever. Here Their
are the facts-these institutions are not
owned or controlled by the citizens Of
; Nebraska, (except the controlling inAu.
ence of one of them-the Platte Valley
] but are managed by the citizens of 9th,
er states, and are made the vehicles o
the grossest frauds upon community-anC
then the whole charge of fraud, corrup
$ ton and swindle, and all that is mean
0 dishonest and dishonorable, is heaped OF
the citizens Of Nebraska! Is this fair