, 1861-08-11
Gbna!4!o' Gtthtttte
MONDAY, AUGUST II, 1851.


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--o.--------:.--- -oc-
hloNDAfs AUGUST ~ 1oo1.
~- =. .~~-n Law.
rno,o T.. ,a.d: sas1 n: nub1ic unisappre-
bene;on roncan;ng the provisions Of the
no~ hant;nr loo m the subject Of central
-aasr,a.;o1 uh;cb il is proper to correct,
~ ~, s1e these: All zeao banks ore re:
- | ~ sa;sao;n their c;rcp1at;on in Chi.
49,, ~ snringf;eld At q rate of discount
~ ~ erceedine three-fonrths n one ner
cent and after the frat Of January next st
a rate not exceeding aone-half ner csnt dis.
count All ozd hanks t,,at ;s an hanks
which were in operation before the mas.
sape Of the aet last winter are allowed hut
not REQUIRED to adont tfe nractice of. CEN
trsl rederntion and al, such hanks are
allowed tn increase their circnlat;on in
definitely by the denoait of Illinois bonds
at par. whether the market yalue Of said
tonas he ~ or Inn or anv other supposa-
h1c 4icnra T., ,,o;nt of fact tbe Law ia inst
as favorable IN The wild-catters and lust a.
unfavor,h1e to the public az il could he
made
There are about two dozen banks which.
for reasons Inst haye already been stated
we're rot called on by The Rank Commits
s;o,rrs far additiona1 security ond ,.,
tbfrefose rnaint Gn;no~n -1at,ai ,a~;a,anos
OF course the only object The ovnora oo,,1,s
hsye in saving tte;r, ,b.-+a,. 49, 49,
chance Of nntt;no m, +ba;- .;ran7at;as 49,
arain at mar affer heo;no ho,rtt : 49, -.
Ten. twenty or 4,,;rtr6 A. aar -. 5:. ~
count. rrhat wa ms1 a. ~ ;a;sst;a. - -
rn1 heze sss,zst7 z1,..e- 4ap -t..u.a ,r.
chanics' Bank f.Harain. Calhoun conntv
now being put forth in limited Quantities
in this city; we're never in circulation he
fore, and hence were. never the subjects of
this Eeprehenslble practice-were never
thrust upon the public at one hundred
cents On the dollar and then bought hack
at eighty OF ninety} The law allows eaeh
one of these two dozen institutions, most
Of which are located in the dark places of
Egypt, and owned by nobody in nart;cn.
lar, to stresu1ne.businessn without redee1n-
ing in Chicago or Springfield at all. Of
course all persons who take their notes
will do sd at their own risk THE GREAT
business of s.movinn The crons,, is now
about being commenced. and he who csn
move The greatest quantity of wheat with
the poorest assortment Of currency,
will be the best fellow. The
New York and Liverpool must be trans.
muted into paper somehow before it
reaches the western farmer, and he who
can bring it down to the weakest deeoc-
ton is the luehest fnancler: We protest
again, and We shall not cease to protest,
against the Wlckedness which thus de-
pr1ves the people OF Illinois of their honest
earnings Il we must have banks Of issue,
it We must have paper currency, There is
no such thing as paper money let the peo-
pie insist: that these banks be located
where their business IS done. No man
goes down to johnson county, Pope
county, White county, Saline county or
Hamilton county to open bank for
any honest purpose. He goes there ex-
pressiy to avoid specie redemption. He
goes there for the purpose Of swindling the
public under the forms Of law 1t is but
a short time since the remote county Of
Gal1atin furnished more bank paper for
the people Of Illinois to do business with
than all the towns and cities in the State
accessible by railroad The: odious law
tolerates these things, but it does not fol-
low that the people should tolerate them
by again taking the shinplasters. It's in
the province Of the farmers and merchants
to compelan makers Of currency in Illinois
to locate their banks at such places ~
Chicago, Joliet, Bloomington. Springfield
Peoria, Quincy. Rockford Ga]ena An,nra
Deo'"1 ain ai'on.
tnsusao m " oaim' Vienna, '7alconoa'
lneoes' n1e'gn, opa1aa ana Equallty. 1t