The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1861-06-01
Wild Cat NIoney---A Word to the
Victims.

G have done all we could TO aiu IN III
duc:ng our farmers and business men to
discard deprecated Illinois money, TO
force it out of circulation, and make way
for good money in its place, and we reJoiee
that the effort has been entirely success
full Neither our merchants and dealers |
nor the farmers anywhere will touch 1t, |
except a heavy shave. Eut it is on just |
this subject OF shave that it IS now
necessary to put in another word
The universal bad odor into which llli-
nois currency has f,llcn is not mere
step of financial prudence. The business
has gone far beyond that, and has ran
INTO panic. Now, pan;cs are always bad;
and the bad effect of this panic Is, that
people who unfortunately held Illinois
money have been so badly frightened
about it, that they e losing vastly moro
to get rid OF it than is neces sary orsensioie.'
When the ulovemont against limos
currency first commenced, 1t was natural
that lankers who had their Golfers full OF
if. should struggle against it but when
the crash came, and they had failed to get
rid of it and force it among the people, let
no one imagine they were left without
recourse. These bankers and money sha-
vers are playing at teter' with the PEG
pc. and when their end goes down, eyince
a marvellous facility of changing, so that
somehow they are always on The end that
{ "a = 70, ri
and they are promoting it with all their
might The Chicago Banks had some
$l,SO0,000 Illinois currency on hand, 1t IS
said, when the era h came. But at the
same time, there must have been two or
three millions among the people. What
are the Chicago Bankers at now? We
publish in another column the Railroad
List" This VIGOROUSLY places all the
actual worth Of their securities The
Chicago Bankers and money shavers are
themselves, and have al their agents and
correspondent through the country en-
gagged in buying up Illinois money at q
per cent. below the price set on the Rail
TO ID list Thus farmer comes TO Ottaws
with q - bill Danil Of Brooklyn. Thu
RailI DAD list puts it down at so cts. ii
wants gold or silver for it, and gees to
Bank in Ottawa. They offer him but G.
cts on the dollar for it, for that is all the
say that they can get for it in Chicago
Yet the securities OF the Bank of Brook
Ign, make its paper worth actually within
fraction of 90 Cts on the dollar. No,
this, to talk plainly, IS little better thai
swiudlng Take other instances. I'll
secur.t ties Of the Bank of Alisana max
her paper worth - cents on the dollar
All The bankers AID brokers pay for It
80 cts. City Bank, Ottawa, Is put down i
Chica % al 90 cts she redcoms herpape
dollar for dollar in gold Bank OF Roc
, Blank is put down at 60 cts. The Ban
advertises that she is anxious tc rcdeel
all her paper in gold. And SO we cou,
L 90 through the list, showing that in add
IS ton 10 the fist swindle our people hay
suffered from the bankers by having tn
money pat upon them, they are no
S .aVed a second time from ~ TO % cen
u on the dollar by the bankers in buying
back
1t is said that the bankers in Chica:
= had about 81 10000 of stumptaI al
IT 'bobtail'' currency on hand when the stp
&c ceased to circulate. Suppose they lost
rs per cent. on it: that would DO $5l0,0t
n The people must have had IS 0oo,000 of
and now, after the bankers have shaw
st the people at the rate Of about 40 7
cent, III buying tnis up, now much "
or they have lost? 10 per cent of three m
lions will be about Sl,200,GOO, leaving
re Little over half a in Hon profit to Il
n bankers Yet these banker r IA to p
m depositors in good money teeale tn
have lost SO much by the depreciation
w Illinois currency in their vaults