, 1861-11-04
THE NEW. BANK LAW.
OPINIONS OF the COUNTRY PRESS,
v ote 1t Down.
from the A10fin Rafsnv1 7


ought to be fatal to the whole concern, a. We
doubt not It will be. II any one, with the
experience Of the last three years, can think
OF wildcat banks and hyena bankers; without
burning with indignation, he is the man who
nay yote tS } create another s batch Ei.a
warfare upon the pockets Of the peo-
century. Tie whole system of Irresponsible
banking which has cursed Illinois and other
States has been the frame work Of mass Of
rascality which is only exceeded by the great
carnival Of treason, rebellion, fraud and rob.
berry now In progress at the South. We think,
very Glow to try the experiment Of the last
three years over again, BY voting In favor Of
the measure which uoW presses upon their
consideration. AS the State Convention will
meet in January, measures will be matur7d,
no doubt, to save us from such terrible fnan.
cMl iI4!ctions At any rate, we SHALL be con,
tent to leave the matter in the hands Of that
body, in preference to voting into being an.
other batch Of wild cats.
[From the Galezburg Free Democrat
TIE BASK QuEsT1oN.-Amorg the subjects
to be voted upon at the election on Monday
next is the = Banking System on 4 Specie
Basis" being an act which Was framed By the
last Legislature for the Incorporation Of a
State Bank with branches, and which they
subjected to the decision Of the people at the
fall election. We have made very careful
examination Of the provisions of the act, and
are opposed to its endorsement by the pep
pie, at present, for various REASONS among
which are the following:
The present war, If continued, as it NAV be
for considerable time to come, is likely to
call for and create an immense national cur
reney system, and We are opposed to divert
ing capital from investment in that direction.
The general subject OF the banking system
Of the State will, We presume, come before the
State constitutional Convention, to meet at
Springfield the coming winter, and We are in
favor of leaving the whole subject to their
wisdom and discretion.
We think that the law is very loosely framed
in come particulars, and that the corporators,
as whole, are not such men as we would
wish to entrust with our financial interests !:
We fear that their own nests will be feathered
at the expense of the public.
While its advocates claim that il has been
framed on the plan Of the State Banks Of Indi.
sna END lows, an examination of its details
show that the most important safeguards and
restrictions contained in those laws are omit
tee-We have no doubt purposeiy -for selfish
and ulteTior purposes.
The proposed act contenp1ates an issue of
abe1t S50, ,000, ,OC0 currency-aud therehV in
corporate moneyed power, which NAV very
seriously affect the interests of our people.
fation.
The terms ron specie basis" are glar-
i ely deceptive, as there is no clause reguir.
Ing any amount Of specie to be kept on hand.
1t is very evident that under the skin aad
WOOL OF lamb, the claws Of q t'cat'' Of the wild
est kidd are hidden.
We think it better to endure those ills we
have, than fly to Others that we know not
OF L the proposed law is rejected, some Of
the best Of our State Banks viii probably re.
fume operations, establish offices for rcdemp-
lion N specie at Chicago, or Springfield, and
- We urge every voter to 60 to the polls next
Tuesday and cast his ballot ssagainst the bank
ing law on specie basis" Let every one
feel that he has personal interest in defeat
ing this last resort OF wild cat fiuauciers. spec
ul2tors and sharpeFt.
From the Champaign County Union.1
WILD CAIs-WnD CATs-'Ssat7 'Ssatt ~
Scot !!Evote1s Of Champaign county re
member those who have impoverished Won by
their rotten promises to pay' called 2oaey, and
robbed sou OF the savings Of years Of toll and
economy, By the rotten trash going down an
sonr hands, and By the thievin g Institutions
called Banks cloeiDg doors against yoa, aad
sem some thief pecketing your money. You have
row suffered enough, and are clear Of ths
Banks aud the swindlers who managed them.
You can keep clear Of them, if you viii fake
enough interest In the matter to 90 to
tile polls ON ase1t Tuesday naorni,;g, and W1ite,
OF nave written npon your tickets, these
words" Again.: The Banking Lar on a ;Specie
Eas5s." The lsE is condemned by all MT in
the interest of baukers, and from no sonrcc son r.
more worthy of consideration than the Chica
60 Board Of Trade. ''0
lFtom the Kendall County Free Ptess1
lee NEW BANKING LAW.-It should be
borne in mind BY the people Of Kendall coun.
ty, That banking Law Of the Legislature. a.
well as county officers, needs particular atten-
tlon at this time. We believe that all are
ready to concede that our State has had suf1i.
cIent experience, AID has borne too much loss
nlready from legal1zed shaving shops to neg.
lect to vote against the adoption Of the laR.
:Gr the creation OF new instalment Of stump.
tail ~
Ids iaW upon which the people are called
TO vote for Or against, on TuesaaJ next, is an
extremely lengthy document, and, as We BE-
Aeye II Nas intended to do, covers over by
multiplicity Of words, its real meaning and
Shy lock features. 1t is nothing, ,hoWeTsr. bnt
2 scheme planned by the bankers, and given
to the masses in euch language and In snch
particular words in some parts as to carry tina
ldea, and tickle the fancy of the opponents Of
Wild cat 6anks, with the notion-that this IS
,a 1ne 1am ltno1s has wanted, and is just the
money basic. But we say to the people under
stand your tnt1est in the premises and vote to
put the concern down. Every voter onrht to
have voice and hand in killing this atfempt
at another Wholesale swind1e Of the farmer.'
merchants, mechanics and 1aborere of .our
state, which is offered for their suffrage, with
the idea that not one in ten viii read It. h1t
will take it for granted that it is good and
sound law, or it would not be submitted to
them iof adoption or rejection. We are glad
70 see that the press, generally, is down on
tha this monster with beautiful mien, and that
the Chicago Board Of Trade has already struck
1t hard blow, by declaring Opposition to Il
and next Tuesday we hope aI1i expeet tbe,
people VII, BY vote, bury the thing in ever
lasting oblivion. Let the voters Of Kendall
county do their share OF the work. We yarn
you as one devoted to yonr interest to be sure
1lat you vote "Against banking law on a
specie basis"
[From the Moline independently
AGAINST TIE BANKING LAw.-As large
numoer OF our citizens may not be aware that
vote Is to be taken at the coming election
with regard to new banking law, It will not
be out Of place to remind them of it and warn
them against voting for it,
IL is scheme gotten up by the same class
o. on men n who hare brought about the present
has been flooded with "stump.tail." and IL
calculated to place our money mstters in a
still worse condition. It is the duty Of every
nan when getting ballots printed, TO see tn il
that the following is attached to the ticket:
"AGA1ssT THE BANKING Law on a SPECIE
BAs1s.'
IFrom the Woodstock sentinel.1
AGAINST TIE BANKING LAw,-u there is
one thlpg on which there is thorough and
Neatly unlGn" in this county it is the un:-
versa and thorough condemnation Of tue pro
posed Banking Law On specie basis.' That
Monday last.
50 fur as We are able to Judge, we think the
universal sentiment is correct. The biI
should be voted down. We want no more
6tump.tai1 currency.
Another reason why this lav should be voted
down is-the bankers all arant it to pass. They
see ss IN i thls measure another opportunity to
ehaSe tae honest yeomanry, make few more
thcusandE-then burst up the bank and retire
upon princely fortune VoTE IT DowS.
The Constitutional Convention is soon to
meet fresh from the people, let them meet the
present exigency. In the mean time, let the
Ia1mers demand specie or U. :. Treasury notes
for their produce.
Down With stump-tall currency. Down
With any irresponsible banking institutions.
On Tuesday next, zee that yo1r tickets have
printed on them, "AGANsT TIE BASKIyG;
Law On SPECIE BASIS"
From the Peoria Transcript
WHY WE OPPosE THE PROPOSED BANKING
LAW.-We are opposed to tie proposed new
Banking Law, for or against which the people
OF Illinois are to vote next Tuesday. because
1t is not what It purports to be. II is dam
gerous law. It does not provide that the
stockho ders shall pay In q cent Of bona .fde
caPltal. A, aud can Fay in their own notes
and then issue two and halt times the amount
Of those notes In bills! They can receive ten
thousand dollars on deposit from CUSTOMERS
and Issue five thousand in bills on those de.
posi1s, and Pay 1t out to the depositors in lieu
Of five thousand dollars received.