BULLETIN OP THE STATE UNIVERSITY OF IOWA NEW SERIES NO. 15.

JUNE, 1900

THE EARLY HISTORY

OF

BANKING IN IOWA

BY
FRED D MERRITT, M.A., Ph.D.

Submitted in partial fulfillment of the requirements for the degree of Doctor of

Philosophy in the State University of Iowa, Iowa City, Iowa. May, 1900

1900
THE UNIVERSITY PRESS

Iowa City, Iowa

THE UNIVERSITY BULLETINS PUBLISHED BY THE UNIVERSITY ARE 199UED EVERY SIX WEEKS, DURING THE ACADEMIC YEAR, AT LEAST SIX NUMBERS EVERY CALENDAR YEAR. ENTERED AT THE POST OFFICE AT 10WA CITY AS SECOND CLASS MAIL MATTER.

THE EARLY HISTORY

OF

BANKING IN IOWA

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CONTENTS.

PREFACE.

CHAPTER I.–Organization of the Miners' Bank of Du-

. buque. .

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1. Introduction.

. . .

2. The Charter. . . . . . .

3. Confirmation of the Charter by Congress.

4. The Opening of the Bank. . .

CHAPTER II.— The Legislative Investigations 1837-8. .

1. The First Investigation. . .

2. The Issuing of Post Notes.

3. The Effects of the First Investigation.

4. The Second Investigation. . .

(a) The Interrogatories and Answers.

(b) The Testimony of G. D. Dillon.

(c) Discussion of the Report. . .

(d) The Supplementary Examination.

(e) The Memorial to the Legislature..

5. The Newspaper Correspondence. .

CHAPTER III.—On the General State of the Currency.

1. Opposition to Small Bank Bills.

2. Scarcity of Silver. . . .

3. Stay of Execution. . .

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4. Public Opinion in Regard to Banks

5. Character of the Paper Money in Circulation.

6. The Governor's Recommendation. . . .

CHAPTER IV.–Banking in lowa from 1838 to 1841. .

1. The Third Investigation. . . . .

2. The Results of the Investigation. .

3. The Proposed Bank of Charleston. .

4. Condition of the Miners' Bank in 1841. .

5. The Loan of the Miners' Bank to the Territory of

Iowa.

6. The Panic of 1837 and General Suspension of

Specie Payments.