The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1865-06-23
BANK CONVENTION.
Important Financial Movement,
THE BANKERS OF THE STATE
DECREE TIE RETlREMRNr
OF STATE BANK NOTES.
An Apportionment Of $4,000, 900
National Currency Asked For.

The following is report of the proceedings
of the Minnesota Bank Convention, held at the
International Hotel in this city, on Saturday.
June 18th:
The meeting was called to order by Mr.. ].
E. Thompson, President OF the Convention.
Mr.. Thos. E. Bennett, the regular Secretary
of the Association, not being present, Mr.. D.
A. Monfort was appointed Secretary, pro tenn.
Upon the roll being called, the following
delegates were found to be present:
J. E. Thompson, President let National Bank
of st. Paul;
D. A. Monfort, Cashier I'd National Bank of
Q. B. Turrell, Cashier National Marine Bank
a. Thompson, Cashier Bank of Minnesota,
E. s. Edgerton, President Peoples Bank, St.
Peter;
Chas. scheffer. Cashier, Bank of Saltwater;
w. ?. Westfall, Cashier, National Exchange
Bank, Minneapolis;
nesota, Minneapolis;
8. G. Renick, President Bank of Hastings
Jno. L. Thorne, President Thorne's Bank,
Hastings;
s. G. Renick, President LIST National Bank of
daSLlDgS;
Jesse Mcintyre, Cashier Bank of Red Wing;
Daniel Wells, President Lacrosse and La
Crescent Bank, Hokah.
N. Bradley, President Bank of Chatfield.
After some remarks from the President, ex-
planatoly of the object for which the Conven-
ton had been called, on motion of Mr.. e. 8.
Edgerton, the following named gentlemen
were appointed Committee on resolutions,
viz. :-Messrs. Baldwin, Renick. Balch, McIn.
tyre and 81. Thompson.
The Convention then adjourned to meet
again at o'clock.
AFTERNOON SESSION.
The Committee on Resolutions reported the
following preamble and resolutions which were
unanimously adopted, viz:
WHEREAS, By the policy Of the Government
ofthe United States all State Bank Notes must
be retired from circulation after July LIST, 1866.
Regarding the Notes of the Minnesota Banks
secured wholly by United States Bonds as equal
in value to the United States Currency, and de-
sirOus to secure the retirement of such Notes
without loss to the holders or arrangement to
the business of the State,
Resolued, That on and after May LIST, 1866,
lawful money ofthe United States and Notes of
National Banks shall only be regarded as ''cur-
rent funds"
ResoEced, That the Notes of all such secured
State Banks and of such other State Banks as
may be redeemed at the city of st. Paul shall
be received as current funds until the same
shall be retired from circulation.
On motion of Mr.. Thorne Messrs. Baldwin,
Thorne & Scheffer were appointed committee
to draw up resolution to present to our dele
CATION in Congress relative to the amount of
National Bank circulation apportioned to this
State under the National Banking Law
The following resolution was reported by the
committee, and unanimously adopted by the
convention:
Resolred, That the Senators and Representa-
tives of this State in Congress be and they are
hereby requested to use their influence with
the Secretary Of the Treasury and the Comp.
troller of the Currency to have at least two
million dollars of the circulation provided for
the National Banks apportioned to National
Banks in the State of Minnesota, and that all
existing State Banks in the State of Minnesota
be allowed to become National Banks.
On motion of Judge Renick, it was
Resolred, That the proceedings of this con.
vention be published in the st. Paul papers.
On motion of Mr.. II. Thompson, the con-
ventlon adjourned to meet again on the call of
the President.
j. +. THOMPSON, President.
u. A. NONFORT,
Secretary pro tenn.