, 1861-06-14
MONETARY.

t..
business men deposit In their own safes Water
cstpu men On account Of principals, and generally
the business Of the city is Jogging along mainly
without the aid Of the banks, The rate OF speet,,
: however, is decidedly slow, and when moro easy
and Increased movement is to be expected, nobody
psetends to predict. !" Conadelce,,",in financial
as we'll az political matters, 'tts:a plant Of slow
gr wth,'' and 1t vii, Of eourse take come time to
recover from tho shock which the destruction OF
onr frredeemeh1o currensv has caused. Specie aud
.s .ss. !. - ,,.s,,.;n-z roore n1entY: but as
5et The supply is far below theneces.ttes Of trads.
Sound Canada currency Is an1Iousu songnt ier "
n,odnca DEALERS. and better supply Is noticed.
A vet We have not seen much j" Wild cat" among
tho new currency Ano"t, ~ " -. S M.
BE- too cautious al 70 the funds theg take The
4.frecn Indiana banks begin to clrculats some.
Is. os ,1+.1s - .nr he,+er +bs7, on- 49,,
"atumpsan; Atue' any oe''et Ihaa oos OWL
now 60 rapidly disappearing In the vaults Of the
brokers' and in the fire Of the Auditor, %
on tao nosso sno O. 1'1ae ~, .ne's was oet.et ~
qoy lef ea,a ,,d seia a. ps,1 cent
rnzrency. An to the tapks their ea1ca ara mc,c1v
ea.. 'sus; .aa ~. tha a., t. s @e a.'e'y
nominal. anu LUZ '"e o7S staAsee's amouns 70
enough to make quotation.
srtru RAVE ~ Ixr,.x.-3ua ,rb,,sh,a ~, ~,
DHA a.s VI .n;ss Puolasneo an az
tae'e eone oa.s ago. winch anlmaoverfeo IN rather
severe terms upon the State Bank Of Indiana.
The following rep1v ia from tha son,h Rand
n~s,.,. rs c, ~ 80 10 s""eu o6no
have no doubt is correct In every particular. A
home currency ia the hcst for eva,r at.+a r. t.
a.,.5 80. ~ - ~. oeate. -
soea 4M ana 0aaeo npon actual esp
posed to give all due credit to the Bank Of the
~ stet. ot II 1na,ana. ~ ~ ~ ''1S ''AN'' VI 1no
stste ste.a o. +ha na,ana aana:,, .o,,.n.. =, A.,
nots and Wisconsin, tho business men Of Chicago
have been loking for some bank paper that can Be-
Ra2 y eonvee ue sa snsc i
they can safely use In their vast ruonetary. con-
meIciaI and business transactions. Aud the peo-
pie Of Illinois, while determined to demand told
or its equivalent for their produce. knoTing that
come papcr money Is NECESSARY az a cfrcufatjnr
medium, bare been makinr the sarne ennuiry.--7f
thc bills Of tie BanE Of The State Of Indians Touid
ea9e tbs cams aeree pf pabc conde1:o tSsss
ct r. s,a ssnss faa thos q it. s
fhlg S,Rte -
We notice, however, copIcd into the Chicago
thoee bills "a hnTing :aii he characteristics a
stump tai and intfmatixg that. Il its notes sre
'put into circulation ia distant State" lit viii
"a atunen1ona fFand IN probably IN enntcrnnian,
tfon, - fs'
: We a.e not the euloefst or champfon Of any
hank Int a Ternrd far fhe rennfatfnn of mr.
Siale i.nces Ss to correet some rrnss nisstste.
mcnts Of ihe artieie. Il statea: s'o'e 4'l's'"'s-
Inn eaa - lssG ~ - aGtss }s I'd @
~ sneci tcv av have IN u hsnd am - ,a 80 er tet
shaIteT sec IL .s;hrea t,mea sha sonpt no ~ rha
sS Rad N aa he soapt Il q the
ran only Hissue notss'; to eac], hraneh enuaI tn
afvvice +bc amonnt ny the cantteI sctna1fv nafJ
md Ry ssso2 50 {ssGn g sea.es on t0
fea tn an aInnrt the avcrsra oS bic3 foe thn "a.
~ rsar ~ aa n "a ,31 aae M
half times the capital stock, but never to exceed
"th1ee times tho amount Of the capital actually
does not audc to lie Issue Il notes at ali, as the
extract in the abore quotation pretends. It refers
The circulation, in tpite Of the above perverted
quotation, can never exceed tstwice the capital
actually paid in;" but i branch hss ia1ge sur
here had over 90 pr cent :whsn It wound up) it
may, By usiug it. enlarge its discount line as au-
seetion s. nay eartsil I'll tho discounts q Sfsnc
I TO ouc-ha1f tbfs atnouut
This attack further sets forth;
"2 They are not required to eecuea one dollar
Of their Issues in any way Whatever nor haya the
holders particle OF security In any shape or form
Every bra1ch Is Responsible with ali its property,
notes coin. Sc. for iii The bank notes and Gab{s
~ aition MT nny to the hi AZ annonpt n ss
atock but 10 IN amount ossides equal to lis stock
be m o1 IN
they are 1esponeib1e also to thc amount Of tbeiii
so ~ Rna 81 F1s t
secnyiv nf ali fhe nrnnex nf erery 1,ranch n III
lie con and iii the debts due to every branch. Of
5;vidnai gssh;ty nf tha etockhn1Gess ~ nat az
o5e and ~ Il ne9ge fhslr
t9e io 4Ss a: rs n a1y sy one ana
any fa3inre 10 fo nract thst II Fns nol frsmdn7ent
sna sso hat sas ealefals and Honesty Ss nsa
aEea'
| The article continues:
the 6anks." 'D'e '''' ~ '''~'''NA " DA''''- "AlD
By eecton 30. the Legislature are authorized to
elect four Directors Of be Bark Of the state-two
10. The banks are under no supervision what
sveE o. San dnfpeete1s OF any psEso9s appointed
pose"
/ Bysection ., the Legislature can, at any time,
appoint san Agent to examine the condition Of
der oath and the Governor can at any time order
slightest violation. Suspension of specie payment
nsss n Fl oe 30 also an
I9e % n1ta %ehafge Is as lonows: wst:uz..,u,a
thenttc report f1om time to time of their cirsula
sections = a2d u each branch reports r., ~
other branches, which reports are open to the ex-
be-, We think, to the public also, and We have
# the sSss es i
clearly seen BY Sec Co. which reQuires, On the frat
week Of each session Of the Legislature. the full
which ia always printed with the Legislative pro-
ceedIngs and generally every quarter, besldes the
otiiee5s q the State Bank publish to the worla
Discounts Dcposits &c. 80 that NO one Is 1eft IN
the dirk as to 1ts condition. .,,.