The weekly north Iowa times. [volume] (McGregor, Iowa) 1857-1867, 1858-11-17
Iowa Banking.

Iowa Banking. Ii. 1919.
Iowa has the foutidation now laid for
two systems of banking. The free
similar to Illinois and Wisconsin-and
the State Bank System, with branches
similar to Ohio. The free, or security
system, cannot compete with the more
expansive State Branch system.
The mother bank of the Iowa Stats
Bank system, is to be controlled by ono
director from each branch. The circu-
lating notes Of all the branches are to
be prepared and are to emanate from the
mother, countersigned and registered.
The mother requires in money or in
State stock, ls l-2 per cent. of all cir
culation furnished to branches, to be'
held as security for prompt redemptions.'
The branches ars all bound to take each
Others notes at pat and in case of the
failure of any branch, its notes are not
tc be thrown out, but the deposits of oil
the branches are to be applied to the
redemption Of the notes of the suspend
ed branch. ...... ...0 -
The branches are to be entitled to
notes on capital as follows:
branch with 100000 capital to 100000
in s1utes. .-.,
do do 100000 do $4,000 do
Not more than 26 per cent. of the
circulating notes can be in denomina=
tions of FIVE dollaLs and under. .
The assets of all insolvent branch arc
to be appropriated--lst, to reimburse
all advances from the Safety Fund. ed.
to discharge outstanding liabilities. Sd
the residue, if any to be divided among
the stock holders.
The law chartering this bank is am
pie in details. 1t provides for almost
any conceivable contingency. The pub!
| lie should keep in view the fact that
the mother has lien on all the assets
of an insolvent branch, from which the
circulation must ultimately be redeemed
in other words, the Safety Fund must
be reimbursed from the assets before
depositors, holders Of exchange or 9TH
er claims can come In: .. ~"
The State Bank of Iowa will be sue:
cessful institution. lis duration must,
however depend entirely on the talent.
fidelity, stringency and ability of the
Board Of Control, or Mother Bank
7hompson's Reporter.
Proclamation of President Buchanan.
| WAH NGToN, Oct 81.
Whereas, information h s reached me from!
sources which cam, disregard, th.t certain
persons in violation Of tae neutrality laws Of
the United States, are making third attempt
to set on foot a military expedition within their
territory against Nicaragua, foreign Statei
with which they are at peace; in order to raise
money for maintaining this expedition persons
connected Herewith, rs l have reason to be-
ieve, have issued and sold bon Is and other
contracts pledging the public lands Of Mica
ragua and the transit route through its territory
as security for their redemption and tul6llment: /:
the hostile design of this expedition is render:
ed manifest by the fact that these bonds and
contracts can be of no possible value to their
holders unless the present Government OF
Nicaragua shall be overthrown by force, be-
sides the Envoy Extraordinary and Minister
Plenipotcn,iary Of that Government in the U
s. has issued notice in pursuance of his in
structons. dated the aSth, forbidding the citi-
zens or subjects of any nation except passen-
gers intending to proceed to Nicaragua over
the transit route from ocean to ocean to cnt. Z
its territory without q regular passport signed
by the proper Minister or Consul of the repub
lie resident of the county from whence they
shall have departed Such persons, with this
exception, will be stopped and compelled to re-
turn by the same conveyance that took them tn
the country. From these circumstances the in
ference is irresistible that persons engaged III
this expedition will leave the u. S. with hostile
purposes against Nicaragua They cannot un-
: der the guise which they have assumed. that
they are peaceful emigrants, conceal their real
intentions, and especially when they know in
advance that = cir landing will b" resisted and
can only be accomplished by an overpowerine
force. This expedent was successfully resort
cd to previous to the last expedition, and the
! vessel in which those composing it were con
veyed to Nicara. ua obtained Il clearance from
!, the Collector of the Port Of Mobile, although
after careful examination no arms or mllnition:
of war were found on board, yet when they ar
rived in Nicaragua they were fond to be armed
and equipped, and Immediately commenced
hostilities.
The leaders of the former illegal expeditions
of the same character have openly expressed
their intentions to renew hostilities against
Nicaragua. One of them, who has already
been expelled twice from Nicaragua. has in
vited, through the papers, American citizens Il
emigrate to that Republic, and has designated
Mobile as the place of departure, and San Junn
del Nor,c rs the pac: to which they are bound
This person who has renounced his allegiance
to the United States, and claims to be Plesi
dent OF Nicaragua, has given notice to the Col
lector of the port of Noble that two or three
hundred OF these emigrants will be prepared tC
embark from that port about the middle of No
vember. For these and other good reasons
and for the purpose of saving American eiti
zcns who may have been led 10 the belief th4
they are about to proceed to Nicaragua as
peaceful emigrants, il any such there be. from
the disastrous consequences to which they vii!
!. be exposed. J., James Buchanan, President o,
the United States, have thought proper to issue
this. my proclamation. enjoning upon all of6
GERS Of the Government, civil or military, i,
their respective spheres, to be vigilant. active
and faithful in suppressing these illegal enter.
prises. and in carryin. out their instructions 10
that effect. and exhor,ing all good citizens. by
their respect for the laws and their regard lol
the peace and welfare of the country, to aid ths
efforts Of the public authorities in the discharge
Of their duties. In testimony whereof, have
! set my hand and caused the seal Of the United
States TO be affixed to these presents.
Done at Washington this 3Oth day Of Octo.
Der, 1858. Signed,
JAMES BUCHANAN.
LEWIS CAss, Secretary of State.
All Right.
We take great pleasure in transferring to OH :