, 1861-04-08
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49, !; !ak1uapAx EVENING, April &, 1851,
This past hrs been An eyantfol week In tho fanan.
eaal history Of The city and tbs West. The crash
which The Ta1suHE has 10 long warned tta read
ers must come upon our ii well secured ~ Currency
s1stsna, has appalled, m1ay Of our readers. Our
Fssst tears.ars more than realized. Taken with
the adea, that our money IL al secured by State
stocks. the people have resolved It freely in e.
Change for their products but what ne most fear
ed has COME to pass, viz: that the bends them.
selves are NOT secured. Hereafter, our people will
tRsia that banks shall be based on money, OF, II
NE must hAEe atocks ,sa securities, that they be
Hueh that thsfr ralue shall not b. subject to the
huctuationg which have 60 beset most Of those
heretofore In The hands Of the Auditor.
ear sJAtem hxs been proved to be radically
wrong for Under 1t banking is conducted on credit
and not On nancy. No amount Of Regulation can
make bad principle work we'll First or last an
explosion must come
e. Exchange to-day has been drmer. No chanre
was made In the selling rate, viz: per cent: but
the buying price was s4, and in some cases in tho
afternoon ~ was freely paid.
Gold Is frmer. with an increased demand: The
retail price to-day *ss per cent. Buying rate
nominal at 3K04 Per cent, and we presume that
IN SONS cases higher rates wero obtained. The
demand for gold comes from those who are deter
mined to convert their currency into coin, We
hops 1t will Cease. for most, It not all, the banks
TINT arc now taken 4s currency, Will be kept good.
l1lMo1s BANKs.-The Bank OF the Federal Union
has made good its securities, and its notes will be
taken on Monday as ?1tnAl. This makes four Of
The rejected Illinois nenkb that have put up Sc
: curittes. The others arc the Lancaster, the Bank
OF Bentc1, and the Pamet, No newa from tha
others.
WISCONSIN BAHxs.-There is no change In the
list OF Wisconsin Banks rejected here, e1ce.r Tint
the oconto County Bank, Bank OF t.lpp]eton and
the Beio1t Savings Bank have ,peen added to the
number. This Was caused. py the action Of the
Milwaukee hsnkers, Esto have rejected these three,
with eixteen = tkoee in the list published by rs
yesterday.
We6ad the following In the Milwaukee Sentinel
as this morning;
At a meeting Of the banks snd bankers of NIL
YANKEE, and tie Executive conEnlitee from the
Central Association Of Banks Of Wisconsin, the
following resolutions were adopted:
,Resolped. That we viii not for the present re-
eeite on deposit or pay out ss currency the bills Of
the following named banks Of this State viz:
Bank ol Albany, Northwestern Bank,
Bank af Appleton, Oconto Co. Bank,
Bsloit sslo Savings Band, Osborn Bank,
Clark Co. Bank, Reedsburgh Bank
Falmers BsaE Two +; 8se 'fs Ba1f RsnS
ers. Wood Co. Bank,
1@oosers' Bank, Hall q Brothers Bank
3seoaa1cs 6aok' hatansan Bunk.
Reeosred, That we will 1enstate Is currency the
hille OF such OF the above banks sB may, within
the hands Of the Comptroller equivalent in value,
aa Mew iork city. to nlnetshTe Rer cent. Of their
WAHR1cK PR,eE. sce'y.
tr &,+
the gxnttud ssve.
Er.,,anp.ssts 1te,av ~ ~. ~.nn. ,..,,. 1, .
banks sefMMg freely at q cent nremIum and In T.
@foHH "N~ oeRRiJ " EuA4C4G3 ID 4d1
tnfni+T LIZ ht PeIiu@ r. Maats u tua pns1nees com
o. tae wnest Whach IL stu held In the country will
Least.