The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1861-05-04
OTTAWA fret Graber.
LOCAL. MATTERS
Currency Matters.

Currency Matters.
The following list of Illinois banks was
put out by the banks of this city on Sat
urday morning last as embracing all the
banks of this State of which they would
receive or pay out the bills at par;
American Bank.
Alton Bank,
Bank of America-Chlcago,
Bank of Ameiica-Mt. Carmel,
Bank of Bloomington,
Bank OF BROOKLYN,
Bunk of Commerce,
Bank of Galena,
Bank of Geneseo,
Bank ofIndemmity,
Bank of jackson County,
Bank of Northern Illinois,
Bank Of Sparta,
Bank Of Peru,
Bank OF Ottawa,
Bond County Bank,
Bulls Head Bank,
Central Bank,
City Bank OF Ottawa,
Chicago Bank,
Columbian Bank,
Cumberland County Bank,
Eagle Bank,
L. l. Tinkham & Co.'S Bank,
Exch Bank of H. A. Tucker d Co.,
Franklin Bank,
Fulton Bank,
International Band,
Illinois State Security Bank,
Illinois Central Bank,
Illinois River Bank,
Highland Bank,
kankakee Bank,
Kane County Bank, -...-.i
Lake Michigan Bank,
NIahaiwe Bank,
Marine Bank, Chicago,
Marshall County Bank,
Mclean County Bank,
Mechanics Bank,
Mere: ants Bank, Carmi,
Ohio River Bank,
Olympic Bank,
Pamet Bank,
Patriotic Bank,
Pittstield Bank,
Reapers Bank,
State Stock Bank,
United States Bank,
Union Bank, Benten,
Wheat Growers Bank,
Western Bank OF Illinois
This list, our business men who are ia
miliar with the currency war in Chicago,
is the " Durham List" or the
list of banks whose bills are taken 10y the
y Northwestern Loan and Trust Company,
of which Durham is President. There is,
however, another list known as the Ma
rne Bank List, embracing a much larger
number, whose bills are taken at ar by
the Marine Bank, Carver & Co. II. A. Tuck
er & Co, and number Of other Chicago
and the business men generally.
The principle upon which Durham APP
pears to discriminate is, to throw out all
banks secured by the stocks Of Southern
States, which are now at low ebb in the
market, aud if sold to day would not make
their paper worth over from 40 to 60 cents
pm the dollar; while the Marine Bank
party appear to go upon the assumption
hat the paper of any bank can be kept
good, no matter what the state Of secuIi-
ties, SO long as bankers and business me n
will deal in it.
The currency war in Chicago is several
months old. Durham having started it, is
of course rid of the paper of all but the
really good Illinois banks, the others hav
ing tried to keep up the credit Of many
that are not abundantly secured, have a
large amount of their paper on hand, and,
it is alleged, want to get it into the country
in pay for produce before they car aiii;tId
to shut down. At least, if such is not the
game, it is one that could be played I'm
der the circumstances, we certainly don t
feel like blaming our local bankers for
preferring to deal only in the Dunham list
1t is true, while the other list is good in
Chicago they could deal in it here in per
feet safety, by clearing their decks Of
it every evening and sending it to Chicago;
but the credit they would thus give it in
Ottawa would get the country full Of it.
and when the crash should come, the far
mer, &c, would not be in the happy con-
dition of the more cautious bankers
We add list of banks on the Marine
Bank list not on the Durham (the above)