The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1864-05-11

The feeling in favor OF discarding all paper
circulation except the National Currency, is
steadily gaining 10 the Northwest. Our eKchan-
ges all talk the same way.
The Jackson Citizen says:
We trust the movement inaugurated in
Chicago ~ill be speedily adopted in Jackson, aud
all over the cosntry, aud the rags will theu
disappear forever and when man gets dollar be
iced not be ia a hurry TO spend 1t for lear that
it will become worthless on his hands.
The Kalamazoo Telegraph says:
1.-THE entire West is flooded with the issues
of the Banks Of the Eastern States. The
banks aud business men OF Kalamazoo should
take Immediate steps TO get rid OF this stuff al
once and then keep it out by refusing TO take it
hereafter"
The Ann Arbor Argus says;
"The Chicago ard of Trade has resolved
that after the 10 of May its member
will take nothing but United States legal tender
notes. national back notes their equivalent
Ia view Of this action would it not be well fo'
our business men aud citizens OF all classes to re
fuse the bills OF all Illinois and other western
backsg Western currency Ri .cted 10 Chicago
ought nOt TO be tolerated here"
TIRE Eaton Co, RepHbIiean says:
NotSiLhs anding the Efforts Of BAnkers and
others TO secure the pos ponement OF action.
the Chicago Board OF Trade has reiterated is de-
termination 10 make the national currency the ba
ss OF all its transactions and after the 5th Of
May Other cities Ia the Northwest are taking
similar action. Every farmer should nov retuss
TO sell his products for other bank issues, the,
will probably soon be at discount. Ever,
bod is trying 10 get rid OF the State bank notes
aud ia the process Of retiring them, the LOSE
will tall heaviest upon those who hold them long
est
In speech on the National Bank bill Mr.
Hooper OF n Massachusetts, referred 10 the unau
thOrzs ID inh4lIon OF state Bank currency. II,
presented the figures showing that twenty-five,
banks with an aggregate capital Of less thai
81 OO0O0J have now a circulation OF So, 0OO,-
OUO IL can be clearly seen what the resui
must be when the bills sent home Tor redsmp
tlOn.
The Adrian Exposition learns that the Mchi
gan Southern Railroad Company is about {.
throw out the mixed bank currency and to tax,
nothing but greenbacks and notes of nstiona
banks.
The Monroe Commercial saws that greenbacks
command premium OF one-hslf TO one pc.
cent over the Totes of the best banks.
The Constantine Mercury says:
" The Chicago Boa'd OF Trade has resolved 70
do business with greenbicks entirely after the
18Th OF May good plan, which ought TO b,
adopted everywhere in the United States"
The Linn Co Patriot, Iowa, approves Of th,
action at Chicago, regrets it had not been takel
sooner. and adds:
With regard TO the increased circulation o.
the numerous banks all over the land we have
data before Us TO justify the statement that IN,
sixteen hundred banks of the country have in
Creased their circulation three fold since the var
ts'tho"t G-y ins'sdss q their securities Indeed
some OF these secIriues have been greatly d.
mn-hed 6y the depreciation of their fundrc
bonds. &c Nov what security have The people
for the redemption Of all these promises 10 paw (!
just none AZ all And who ever heard of a
bank redeeming its paper when il was not OBJ
hged toF"