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Alexandria Gazette & Daily Advertiser
Alexandria, Virginia
What is this article about?
Inhabitants of Springfield, Hamilton County, Ohio, held a meeting accusing non-specie-paying banks of depreciating their notes to repurchase them cheaply. They resolved to reject such bank paper and urged others in the Miami country to follow suit.
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Full Text
The inhabitants of Springfield, Hamilton county, state of Ohio, have held a meeting; at which they charge the non specie paying banks with a design to depreciate their own paper, for the purpose of buying it up at very reduced rates--they declare that an improper forbearance has been exercised towards these banks; and that the people ought to have rejected every note "as containing a falsehood on its face, so long as those who issued it refuse to discharge its obligation." They come to the resolution, "to desist from the use of any paper of banks that refuse to discharge promptly, the obligations specified on the face of the notes"--and they invite all the good people of the Miami country to adopt similar resolutions. There is an energy in this conduct which commands respect.
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Where did it happen?
Domestic News Details
Primary Location
Springfield, Hamilton County, State Of Ohio
Outcome
resolution to reject non-specie-paying bank notes and invitation to others in miami country
Event Details
Inhabitants held a meeting charging non-specie-paying banks with depreciating their paper to buy it back cheaply; declared improper forbearance and that notes should be rejected as false; resolved to stop using such paper and invited Miami country residents to adopt similar resolutions.