, 1861-08-05

1OHd o1a1E BANK.
Efforts are being made to discredit the bills Of the
State Bank Of Iowa. The banks of the city, with
perhaps single exception, have continued to take
it the came as other currency-that Is, they sell
New York exchange for 1t at H per cent premium.
We give place with pleasure to the following com
munication in regard to the management Of the
bank It comes from well informed and reliable
tource.
Editors Chicago Tribune:
Inotice in the money articles which hsve appeared
in The TRIBUNE from time to time, that you are
attafd the "1owa Banks'' are paying outatoo much
Of their circulation, and cauton1ng them against
tee laIge IN lesue that good deal Of it IS found
in Chicago and that they must recOllect that over
issues will lessen the vaiue,' &C., DC. Now do
not wish to take exceptions to your words Of cau-
o2 The reasoa thst ss ehd fs
fire. yet the principle on which they based is
correct. An over Issue is always injurious,
ae s1e wh IT,
" recollection Of the mise1ies of an irredeemabe,
deprecated currency. think it will be long
bank note which is presented to them, bat On the
contrary, will eerutintze their standing pretty
cloeely- This is as It should be-, and no sound
Who fesie II Illinois 70 Has nnasrztand Et the s'e se
Gn1ity which the blllholdsE Of Tie State
| well as the Immediate redempt1on Of the Issues.
| Each branch is separate and distinct from each
1he1 a M S hf business Of the
parent bank or Board Of Control, in accordance
with the charter. The ontstde limit Of its issues
and remaining unimpaired. Each branch deposits
| with the parent bank an amount In coin or in
etocks at thslr market value equal to oneeifsh Of
tented On pain Of forfeiture Of its charter, nust
kleep; or land Il in coin tPe7 cent ef
below the proportion, they must desiat from any
further issues or the until the
made Of
feature fgreat security as it naturally makes
each one jea1oae and waIchlnl that none Of the
any as Sasa Sase T9a
s1d Indiana, 70 be good3 ought to 70 b considered
and ability to redeem promptly. il ordinary ca
ew3 reputation, but with the Stats
If through the mIsmapsgement Of the ofice1s o
any branch they should be compelled to suspend
yet its circulation Won d continue just as good Al
the Bank Of the State Of Indiana, as recent eyi
denee Of The fact. Az to whether there is any in
MEDIATE mediate danger Of the 19wa P Banks h9oding ta
able to redeem. would here say that the total cir
en1atfon Of all the branches ct this time to whicl
hsz eni5ed 2e an n eg ean M on
Two hundred and eighty four dollars ia1.571 ,a81
certa1n1y. not large enough to frghten even Chi
eago bankers or business men. wnen sec it Str
ted thst one fun alone in Chicago paid out $500
ono Of Canada money in less than d week wiscou
creating any alarm. I regret that any Of th
branches should have sought Chicago az 4 field fo
Its circulation, for think that every dollar Of it
needed at home, ard certainly the best field for
bank to get circ11a1 ion is where 1t is best know
if it is entitled to credit st all. The State Of low
could eaeily use two or three millions of good GU
rercy, and would then rot have more than fa
proportion fer busineEs purposes. Iowa.
, NEW YORK STOCK MAEKET.-The following 3.
to-day's quotations Of the New York stoc
! market