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Edwardsville, Madison County, Illinois
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An anonymous letter defends Colonel Johnson against false claims in the St. Louis Enquirer that he is involved with the Bank of Edwardsville. It refutes the editor's attacks on the bank's solvency, highlighting its strong specie reserves and contrasting it with the Bank of Missouri's vulnerabilities, including holdings of potentially worthless Cincinnati banknotes.
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The Editor of the St. Louis Enquirer--again.—This gentleman, after indulging in a variety of remarks upon Col. Johnson, in his last paper, concludes by saying, "After all, Col. Johnson does not ascend the Missouri in these renowned steam-boats, but remains at Edwardsville, or in its neighborhood, where a little bank has been established in which he is a large stockholder."
No one can mistake the impressions intended to be produced by the sentence above quoted, and there are some people at least, who will be surprised, at being informed of the whole, or any one, of the following facts, viz:
1. That Col. Johnson never was at Edwardsville but once, and then staid only a few hours.
2. That Col. Johnson is not now, nor has he ever been, a stockholder, in the Bank of Edwardsville.
3. That neither Col. Johnson, nor any of his connections, has ever, either directly or indirectly, borrowed, or otherwise obtained, any money from the Bank of Edwardsville.
"Little" as the editor of the Enquirer may think the Bank of Edwardsville, it is as able to pay its debts as the Bank of Missouri; and fully as willing to submit the state of its affairs to public scrutiny. And notwithstanding his multiplied predictions of its failure, and all his endeavors to excite a general distrust of its capacity to redeem its notes; it has of specie, now in its vaults, not only double the amount of its notes in circulation, but seven thousand four hundred and eighty-three dollars and sixty-three cents more--of which, any respectable gentleman who wishes it, shall have the most unquestionable proof.
There is, however, no disposition on the part of the author of these remarks, to contrast its situation with that of the Bank of Missouri, farther than as it may be extorted, by the unprovoked, but relentless persecution of the editor of the Enquirer, who seems to have identified himself with that institution. If such an investigation shall take place, it must be attributed to his intemperate zeal in attacking those, who have never injured him, nor feel any disposition to provoke his hostility. And let it be remembered, that other important facts are just as well known, as that the Bank of Missouri has now in its vaults, sixteen thousand, one hundred and fifty-three dollars of Cincinnati money, which may be a serious loss, if, as the editor of the Enquirer states, the Farmers' and Mechanics Bank of that place has actually exploded. A hint to the wise is enough.
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Letter to Editor Details
Recipient
The Editor Of The St. Louis Enquirer
Main Argument
the letter refutes the st. louis enquirer's false claims about colonel johnson's involvement with the bank of edwardsville and defends the bank's financial stability, contrasting it favorably with the bank of missouri amid the editor's attacks.
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