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Commercial
September 8, 1819
Event 2 of 2
Daily National Intelligencer
Washington, District Of Columbia
What is this article about?
Warning from 1819 about a fraudulent 75-cent note from the fictitious 'Bank of Madison' in Indiana, signed by John King, intended to deceive the public. Contrasts with the real but unreliable Farmers' and Mechanics' Bank of Indiana. References other deceptive paper from Piatt, Bigelow, and Steam Mill Companies.
Clipping
OCR Quality
95%
Excellent
Full Text
This is Event 2 of 2. The full text below covers all events in this component.
FROM THE TOCSIN.
A Gull.--There is no such bank in the state of Indiana as the 'Bank of Madison'; but still we find such notes in circulation. We know there is a bank at Madison-the Farmers' and Mechanics' Bank of Indiana'-and the notes of which are none too good. But we have before us now a well executed ticket of 75 cents, purporting to be on the 'Bank of Madison, signed by John King, as Cashier. The men who compose this association may be good for what we know; but we consider it a scheme calculated to deceive rather than benefit an abused people. We every day see the effects of such institutions; the paper of Piatt, Bigelow, and the Steam Mill Companies, are too often intruded upon the people to require their memories to be refreshed by other specimens of the art of banking. For the better information of the public, we give a copy of the ticket :
" I promise to pay H. Restine, or order, on demand, Seventy-five Cents, in Current Bank Paper, at the Bank of Madison, for J. T. Canby, R. Branham & V. King."
"JOHN KING, Cashier
" Madison, 1st July, 1819
A Gull.--There is no such bank in the state of Indiana as the 'Bank of Madison'; but still we find such notes in circulation. We know there is a bank at Madison-the Farmers' and Mechanics' Bank of Indiana'-and the notes of which are none too good. But we have before us now a well executed ticket of 75 cents, purporting to be on the 'Bank of Madison, signed by John King, as Cashier. The men who compose this association may be good for what we know; but we consider it a scheme calculated to deceive rather than benefit an abused people. We every day see the effects of such institutions; the paper of Piatt, Bigelow, and the Steam Mill Companies, are too often intruded upon the people to require their memories to be refreshed by other specimens of the art of banking. For the better information of the public, we give a copy of the ticket :
" I promise to pay H. Restine, or order, on demand, Seventy-five Cents, in Current Bank Paper, at the Bank of Madison, for J. T. Canby, R. Branham & V. King."
"JOHN KING, Cashier
" Madison, 1st July, 1819
What sub-type of article is it?
Economic
What keywords are associated?
Indiana Banks
Poor Quality Notes
What entities or persons were involved?
Farmers' And Mechanics' Bank Of Indiana
Where did it happen?
Indiana
Commercial Details
Location
Indiana
Key Figures
Farmers' And Mechanics' Bank Of Indiana
Notable Details
Notes Are None Too Good