, 1861-06-22
Cbirago Gributte
SATURDAY, JUNE q, 1851.


THE REMAINING BANKS.
The call made by the Bank Commission
fns On the 14th inst, requiring twenty
three Of the wild cat institutions Of Egypt
to make good their securities OF go into
liquidation, il amove in the right direction
decidedly. We thought the call should
have been sooner made. The Commis-
eoners thought differently: 1t Is needless
to argue the question over again. Tho
good work is nov accomplished and all
will be thankful That It Ia 50.
The banks still uncalled, with their Sc
curities md circulation according to the
Auditors April statement, Is as follows:
A''2 sssse s.: !: A1}fe@ hIise!.e..
4,ooo Missouri e.
B.nk Of America, Mt. Carmel
$4,000 llinoia G.,
S5s5o Illinois and Michigan Canal,
6M0 Gcorgia e.,
Circulation ..-...................c7t,S ,S4
Dxpk Of Bloomington, Bloomington
si,si5 os Illinois New Internal 1mp's
1890 Illinois and Michigan Canal
Circulation n.,..---.....--........ N,Q0Q
Bank Of Indemnity, Gal!Atin-
1o,oe5 nlinois Is.
Circulation n...-............-.....1s7,7o 100
City Bark, Ott.wa-
e5,oC0 United States 81.
CALCULATION .-................-... g, Isl
Cumberland Comfy Bsnk, Greenup-
2s,0N New York Is,
$500 United States Is,
14,tu0 l'Hunis and Michigan Canal
eafeulauon -.---.-.--'-.-..-,.-.. =
E.1: Tinkham Cos Bank, AcLesnsboro-
105, ,99a Ohio Gs-
Circulation n.............1os
Highland Dank--. -,
Circulation u....................--
International Bank. Rslctsh--
$4,000 Illinois 6s,
$40 niinois and Michigan eans1,
b,o00 Michigan e.. -....
circulation ..--..................1e2,11 LIS
AahaIwe Bank Marion
40,ooo Inited States 81,
1900 Michigan Il,
5000 Tennessee 8,
1.uoo North Carolina Is.
Circulation n.-..~-............-... G,513
ssoas s. u; NeN, internal 1napsovea1'e - -,
Circulation n...-.....~-..-........ o9,l03
Mclean t:onnty Bsnk, Bloomingtoa-
il, % ,SS isoeis Ii:neie md ~; Michigan can.1,
14,Ge9 o. Ill New Int. Improvement.
1,oco Lonieiana g.
Circulation -.-+-t....--....----.. 1o,sa3
Mechanics Bank Hardin
5000 United St.tes IS,
7.sso iliiseis I'd d. michigan CALL ~,
Cffen!al1on n-....--....-......'.. oa5-1
Me.rhsnts' Bak: carnl-
=. ss.sSS e Hense:.ee 14!d5s!s e. G..
Circulation 49,. --1ao.s1J
pittt1cld Bank. pittsdc!d--
$40: Il ill., NeH Int. improvement,
t0oo Illinois e..
Reapcr's Bark. Fairfield
1850 ii. ssa Siehisaa Canal Stock. 49,
c1culstion ...1a,98
Cuion Bank, Benton
$1,000 New York g.,
t0.0n United States 5e,
10000 Illinois Ga,
5000 Tennessee Is.
1890 I'll md Michigan Canal Stock.
Circulation -...-......-..--..-... VI Az
The aggregate circulation Of these banks
at the time the call was made On the others
was 81 Al, ,2o7; and the estimated value Of
their securities s1,514,e05. It is stated
that the Bank of Sparta has retired enough
Of its circulation, (bought up By the owners
as heavy shaveD to bring itself within
the list Of the saved. It should therefore
be c1assed in the above category. The
statement OF its securities and circulation
on the first Of April was as follows:
5000 New York e..
$1,000 Illinois O.,
191S2 Ohio e..
1900 North Carolina Gs,
1900 Louisiana Gs,
10000 Gtorgla G..
8,45s 50 Illinois New Internal improvement.
CHtuAuun-- --..-.-.....-.-- $l45.al
AL but one or two OF the above banks,
Notwithstanding their excellent security, II
are below par, and the most Of them are
hawked about our streets at 10 cents on
the dollar. This is not to be wondered q:
in the least Security il not capital It i
debt The greater portion Of this debt
banking is located in the interior Of Egypt
and, despite the good class Of debts on
which it is founded, It is wholly Of the
wild cat breed.
twill be observed that Illinois bonds o
one sort or another, constitute large shart
OF the securities here enumerated. 1fthert
were to be any exception made IN the call
this was certainly the class Of bonds to be
excepted. There seemed to be reasons
connected with the proposed loan for wal
purposes, why these securities should no,
be thrown upon the market While VI
believe that the war fund has no mort
right to ride on the back Of the bill holders
fund, than The latter has to ride On the
former, wa admit that there is much to b
said on the other side Of the question, ant
that probably the people will sanction th'
course which has been pursued.
The Commissioners hare notified al
the banks that those which shall max
their securities good, with Northern o
United States etocks, prior to the first 0
July, and then enter. into central redemp
tion according to the terms OF the amend
ed bank lsw, shall not be subject to fur
ther call. This is, re believe, the limit Q
the power lodged in the hands Of th
Commissioners in the direction OF compel
ling the banks TO redeem in specie 8
Chicago OF Springfield. They have the
discharged their duty faithfully, at less
until The first Of July. It would appes
that the terms Of their call commit thet
10 the policy Of winding up, SO far as the
can, all banks which do not comply Wit!
both the requirements mentioned, with
nine days Of this time. What proportio
Of the banks will comply with these II
quirementa, or whether any Of them vi
do eo, it is impossible to conjecture Th
amended bank law authorizes the centr:
redemption to be made at discount {
three-fourths Of one per cent until Jan.
1862, and at . rate not exceeding one-ha
per cent. thereafter. It remains to be see
whether the people will consent to til
shave. II banks located at McLeansbor
Hardin, Marion, Golconda, Equality ar
other places where no business is don
and where fen persons ever 60 exec
upon compulsion, can command the CO.
fdence Of the public and ara new
required to redeem their Issues at pa
Of course there will be no money issued
the places Of central redemption exec
McLcansboro, Hardin, Marion, Golcond
Equality, etc. Why should not these i
stitutions redeem at central points at pa,
They pay out their notes at par. II
farmers give them one hundred cent