Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1860-11-23
The Money Panic,

rltleS TO make gOOu tner circulation, as
follows:
American Exchange Bank, Bank of Au-
rora, Bank Of Chester, Bank of Common
wealth, Bank of Naperville, Bank of Pike
County, Bank of Quincy, Citizens Bank,
Corn Exchange Bank, Farmers and Ira
ders Bank, Grand Prairie Bank, GRANVILLE
Bank, Lafayette Bank, Merchants and
Drover's Bank Morgan County Bank, Ma
tional Bank, Prairie State, Railroad Bank,
Reeds Bank, Southern Bank of Illinois
GRANVILLE, State Bank of Illinois.
OF the above it is believed that seven
will not respond, hence their bills have
been thrown out by the Chicago banks, as
also by those of this State. The following
are the seven banks above alluded to:
American Exchange Bank, Bank of Au-
rora, Bank of the Commonwealth, Bank
of Raleigh, Corn Exchange Bank, National
Bank, State Bank of Illinois.
In reference to this action of the Chica-
60 banks, the Tribune of Tuesday says:
Of course so decided step as this will
create much excitement among the holders
of these notes, and many, fearing still
further depreciation, will make haste to get
rid of what they have on hand at any rate
which they may be offered. Our advice to
all is not to be precipitate. The value Of
the rejected bills is not determined 1t
will fuctuate from day to day with the rise
and fall of the stock market. If the po-
litical troubles Of the day are surmounted,
before the time comes for closing these
banks up, their notes will again be at par.
In any event, they have intrinsic worth
and every case it will be wiser, where the
necessities of the holder do not compel him
to realize to hold on and wait the prog
ress of events
1t is believed that everv bank named in
the list, save the seven, will make good its
securities and 90 On without trouble. At
present, the seventy banks not embraced
IN this call are solvent and we have rea-
son to believe that whatever may happen
their notes will be kept good. They are
secured by bonds not yet Appreciated
mainly those of the State of Illinois and
the United States-and they haze ten per
cent margins--that is an excess of securi-
ties over circulation--which entities them
to the continued confidence of the public.
The banks in this city at the present
writing (Thursday) are taking the discred-
tied bills, except those Of the seven banks
last mentioned, at a discount of ten per
cent but there is no telling how long this
will last. We think not great while
Our advice to all having any of them is to
bold on. The furry viii soon be over
and the banks and their bills will be as
sound as ever; at least such is our opinion
who is He?
The Monroe State Rights some time
since made statement which we regarded
at the time as groundless assertion, that
some $4,000 had been raised at the east
for the purpose Of buying up newspapers
and otherwise operating on public sentl-
ment in this State, against the Farm Mort
gagors. Being driven to the wall and
compelled to give its authority for the ru-
NOR it has been the means of setting ahoat
it now says:
about one year ago, Senator II. NJ.
Davis. of Portage, had conversation with
a gentleman in Watertown who is init
mately related Ga brother) to one Of the
leading operators, who lives in New York:
and this latter gentleman stated to his Wa
tertown brother that an assessment had
been made on The holders of the railroad
farm mortgage bonds, for the purpose of
operating on the leading men and presses
IN Wisconsin, irrespective Of party. This
assessment, the gentleman said, amounted
to ogcr serenity thousand dollars We will
give the names of the gentlmen above re-
ferred to, when we get the consent of Hon.
NJ. NJ Davis to do So No man will doubt
the veraeity of Senator Davis We have
the above information from him personally"
The matter now is put in tangible
shape and we trust that Senator Davis will
at once speak out and give to the public
all the facts that be has IN his possession
relative to it. 1t might also be well for
the gentleman in WATERFOWL" who i'm
parted the information spoken of to Sena-
tor Davis, to give to the world such items
of intelligence at his command as have a
bearing in the case, so that people may
know if we have any venal presses in the
State and who controls them; and also
what amount of this corruption fund, if
any really was rs:s:d, ever came into their
possession. But we suspect the whole
thing Is roorback. We do not believe
there ia word of truth in the story from
beginning to end, still We should like to
hear from Senator Davis and hope he will
enl'ghten us particularly upon the ques-
ton as to who 1.-The gentleman in Water
town is shat first put in motion this ri
diculous fabrication Again we ask, who
is be
DEATH OF CANAL COMMISSIONERS ELrcr
We were not only surprised but panied
at the announcement by telegraph a few