The Portland daily press., 1899-05-06

or was published for the sole purpose OF
describing the rates of the most reputable
banks. some 400 in number, TO aid In
the Identification of their notes. In con-
sequence the managers OF every state
bank did all in their power to enlarge
tho circulation of their banks. 1t enabled
them to increase their loans. and, with
currency widely distributed, the dangers
attending run" were materially less
ened.
q. w. Cammack, Teller of the Citizens
Bank in Louisiana, was instrumental IN
achieving for that bank the prestige of a
larger circulation than any other bank OF
the South, If not of the country. He en-
Outraged new accounts by sending out
handsomely bouLd books of deposit and
check books with the name OF the de-
position engraved upon the checks. The
innovation aroused desire to secure the
| looks and brought business. Every new
account afforded an additional avenue for
curreny to the interior, az remittances to
planters and storekeepers were OF frequent
occurrence, But the manner in which
the notes Of the bank were brought into
almost national circulation was inviting
| the steamboat men to bring their freight
bill checks to the Citizens Bank for pay
ment These bills aggregated from SS,0OO
| to $40, 900, and they we're generally paid
| ly check on some one of the numerous
hanks or banking houses of New Orleans
| 1t was decided innovation and great
saving of time and labor to the collectors
who in the past had bean Obliged to pre-
sent each check at the particular bank
| upon which It was drawn.
In this way, as was foreseen by Nj.
CamInack, the stea L boat men became OF
great service to the bank, as the major
part of the sum OF their collections was
| carried out of the city to be disbursed
throughout the Mississippi Valley, in pay
ment for fuel, wharf boat 1ues stores,
wages, port charges, sc. Thousands upon
Thousands of dollars were taken out OF the
city every week by packets bound for
points on the Mississippi, Missouri and
Ohio rivers, and their tributaries, the
Wabash, Tennessee, Arkansas and Red.
In this manner, throughout the wide ter
ritory from pittsburg, Pa. St Paul,
Minu., and St. Louis. Mo to the Gulf.
these notes were kept in constant cirou'
lation until! they became better known
than those of any bank in the South, CT
| in the Union, and tho circulation of the
| bank mounted up to foar or i've millions
| OF dollars, then an unprecedented sum
The following Clipping from the Com
mercial Bulletin of New Orleans gives an
idea of the banks credit:
The extraordinary success following the
| reorganization of the Citizens Bank, the
unparalleled pinnacle of fame. the re-
markable extent to which operations have
| reached, the great advance in value OF the
stock, the steady increase of its already
vast business have attra cted a large share
of the attention of the moneyed men OF
the country"
During the panic of 1857 the bank with
stood two days run upon it and came
out with flying colors, while Others fell
all about it, This established It's credit
so firmly that enc Of its. notes was as good
as O national bank note is today.
The bank was known both as thu Citi-
zens' Bank OF Louisiana and La Banque
des Citoyens de la Louisiana. The de-
nominations were also printed in French
and English; five, cling; ten, dix; twenty
vingt; fifty, cinquante: one hundred,
cent; one Thousand. mile. 1t will be
readily seen that the French names of any
denomination but ten, were unpro-
nounceable. and no one attempted 1t; but
the ten dix" seemed to attract the eye
and to NEE putlic demand. always ex-
listing for something unique, unusual
AS result, the $40 notes Of the Citizens
were se,do III, if ever, referred TO in any
other way than as "dixes." And, be-
sides, it was the most natural note.' lie
denomination. too, was convenient size
Tor the steamboat men to meet their
obi gatioas wit not too large or too
small; and of tie many thousands OF dol
lars taken out of the city every week by
the river boats very large proportion OF
it was in "dixes.' In consequence bhese
notes had a much larger circulation than
any other notes issued by the hank and
ere long the expression. "A dixie note, .
or note from the "Dixie Bank" was
very common amcng the large number OF
people everywhere mhoss were familiar
with the currency. This was the most
natural thing in the world, for the word
dix" is prominent ON the front OF the
note. and SO much so on the back that
the observer, in basty glance, would see
nothing else.
A common, almost universal, express IN
in used by the steamboat men, when
leaving from the "up river" country for
New Orleans, in answer to inquiries as to
their destination, was Were going
South after dixes," or going to "Dixie
land"
Gradually, the Southern country began
10 be known along the river ports AS
Dixie land" because SO much money
cane from it. From this beginning,
the word has grown to general usage. and
today it is Synonymous with the South
everywhere.