Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-11-22
The Currency December LIST.

Aue currency - oSCGhO6r 1SI
!. was to be expected as the time of re-
sumption Of specie payment by the banks
drew near, that degree of uneasiness
would prevail relating to currency matters,
That nothing near panic has occurred at
such a juncture, manifests the strength of
confidence generally entertained by the
people in those WHO manage monetary at
fairs We believe anxiety has been con-
fued mostly to ignorant persons, and the
degree of feeling las correspondent to the
degree of ignorance,
Showing that public confidence has not
been misplaced, in anticipation of the
weaknesses Of the feeble minded, as well
as to pave the way for the introduction Of
the new monetary era under the amended
law, the Bankers in the State held a Con-
yention in Milwaukee on last Friday, at
which the following Resolutions we're pass
Cd
his action by the bankers, not only
| places all the notes in circulation with
the exceptions mentioned) upon firm par
basis, but also entities these institutions
to the lasting gratitude and renewed con-
fdence of the people, Admit that they
will promote their own interest thereby;
the benefit to the billholders will not be
lessened On that account, and all good
deeds benefit the doors thereof. Neither
loss nor any perceptible inconvenience can
result to the holders of the bills whose
banks will be wound up; the solvent
banks which will continue buiness under
the new law having guaranteed them
against loss, and raised o fund to meet any
deficiency of full securities in the hands of
the Comptroller. 1t is therefore the duty
Of every one to exercise that confidence
and forbcarance without which credit of
any kind cannet exist, and upon which
commercial prosperity SO much depends
!
/ WHEREAS A few of the Bankers of this
state have failed to provide for the YoIun-
tary redemption of their notes, in accord
ance with the resolution of Bankers Asso-
citation IN September last. and have given
no indications Of their intention to comply
with the amended Banking Law, which
takes effect on the first Of December prox.
Resolred, That the Bankers Committee
shall proceed to wind up such banks as
tail to make agreements fer redemption,
according to law, on the first of December
next, so as to retire their circulation AT
PAR; and that the cost of making up any
deficiency or expense that may arise be
paid out OF funds now in the hands Of said
committee, and out of funds to be provided
by an assessment on the other current
banks, and that an assessment of one per
cent on the capital Of said banks be now
required to be paid into the hands Of said
committee, for the purpose aforesaid.
ResoSred, That tie notes of all banks
now current be received and paid out as
currency, on an equal footing up to De-
cember next, and that after that date the
notes of banks SO failing to redeem, will be
returned to the Bankers Committee, to be
retired as above provided : except the
notes of Bank of Portage, Dodge County
Bank and Wannnn RanF
Resolred, That if in the opinion of the
Bankers Committee it shall become neces-
sary to make temporary reduction in the
volume of the currency, they are hereby
authorized to make requisition on the
Banks Of the State, to retire such a per
centage of their currency as may be requi-
site, and so furnish exchange fer the pre-
sent feverlsh demand.