Indiana Centinel, Volume 4, Number 35, Vincennes, Knox County, 23 December 1820 — Page 6

changing too suddenly the amount of the circulating medium. It is desirable that you will favor me with such information as you may consider essential for the objects of this communication, and particularly, at what time the community may calculate on your resuming specie payments. Respectfully, yours, Sec. JONATHAN JENNINGS. Office of Discount and Deposit) ) Latcrenceburg, Sept. 20f, 1820. $ Dear Sir, Yours of the 2d instant, bas been received I am instructed by he Board of Directors of this institution, 1o inform you that the situation of the in ilitution diners but little from the report made on the 30th September, 1820, which is a copy made in pursuance of a request of the Secretary of the Treasury, of the United States ; and which was laid before the Legislature of this State at their last setting, except a curtailment of our notes in circulation, of between thirteen and fourteen thousand dollars. We are not able to inform you how soon we will resume specie payments, as no time has been fixed, though it is our intention so to do. A resumption of specie payments on our part, without corresponding measures on the part of the Branches of the State Bank, it would follow that we would have to refuse all paper on Banks that do not pay specie ; in that case I much doubt whether we would, at this particular time, be even able to collect the discount on our bills discounted. . I would be much gratified that some arrangements could be made with the Branches of the State Bank, to resume partially or entire in unison with this Bank ; the pressure would then be less on any one institution Yours, Respectfully, THOMAS POUTER, Cashier. His Excellency Jonathan Jennings, Governor of the State oj Indiana.

th..t id pny specie short of thai l:;;r, which will be allowed to those indebted to this institution to replevy, and a resumption of specie payments by banks generally, would not be advisable. B.-t we pledge ourselves to adopt and pursue that course which the Mother Bank may require of us The better to enable you to judge of the condition of our Branch Bank, we presume the Mother Bank will furnish you with a particular detail of our situation. Yours, Respectfully, D C. LANE, President cf Vic Corydon Branch Bank.

Vevaii Branch Bank, )

Corydon, October 11th, 1820. To His Excellency Jonathan Jennings, Sir Yours of the 2d of September last, addressed to the President and Directors of the Cory don Branch Bank, has been received and deliberated upon , the result of which is unanimously to adopt and pursue that course, which, in the opinion of the Mother Bank, may be best calculated to reinstate the depreciated bank paper of our state. With an eye to this object, we have continued to call on the debtors to this institution, for more than twelve months past, in such proportions, as we presumed were best calculated to effect this desirable object, without actually distressing those to whom accommodations had been given The tardy mode whereby coercive payments can be obtained, places it out of our power to resume specie payments ; nor can we say when a resumption can be attempted with safety to this institution, as much depends on the facilities afforded ns in the collection of debts due this institution ; and likewise on the course that may be pursued by banks in the adjoining states with respect to specie payments. Should the present mode of coltcting hejirsued in future, we presume,

JSocembcr fJJi, 18:

Sir In answer to yours of the 2d of September, directed to the President and Directors of the Branch Bank at Vevay, requiring information as to the time when

this Branch may be expected to resume specie payments, See. 1 have the honor to state, that under the existing lavs, whilst the present pecuniary embarrassments of all classes of society, arid the badness of the markets for the suiplus produce of the country exist, it is difficult to point to a certain time when that desirable object may be accomplished.Most men now-a-day w ill take advantage of the times ; and the scarcity of money, bad as it is, induces those w ho hold it to speculate thereon, rather than to pay their debts. Should the Legislature, however, think proper to repeal all li.v.s concerning replevy, in all cases of debt, except where the paper of the banks of this state is refused in payment, as well s the law of the last session, called the property law, but allowing the party whose property is sold by execution, the privilege to redeem the same in a reasonable time, it is believed by the Board over whom I have the honor to preside, that the banks, as well as solvent individuals, will be placed in a situation much sooner to be able to resume specie payments. I am of opinion, that, if a law was passed to abolish the replevin on judgements and executions i:i all cases of debts hereafter to be contracted, this Branch could resume specie payments in the course of one year thereafter, without causing any great sacrifices of property ; but under the existing laws, I am unable to state when that desirable object nu.y be obtained In vindication of the Directors of this ' Branch, I take the liberty here to state, that when this branch went into operation, it paid specie for its notes, and continued so to do until about the first of January last, and would still lr.'ve continued to pay specie to this day, had an o.Ticer thereof, over whom the Board of Directors had little or no control, conducted business for the benefit of the institution, as he did for his own benefit and that of his immediate friends. I have the honor to be, your Ex. Respectful, hum. and oht. servant, JOHN F. DUFOUR, PrcsuU-nl of the Vevay Branch Bunk. His Ex. Jonathan Jennings, GvTtni;r cf t' s State of Id'uir.a,

Cni yn..::, Decemltt 4th, 1620, e Senafc and ' '' House (j Repretentatires, Herewith I piesenta copy of the reply of the BrookviMe Branch Bank to my letter of the '2d of September last. IlespectfuHv, vours, &.c. JONATHAN JENNINGS. v . Brookvili e, Nov. 21st, 1820. IBs llxcelUnnj Jonathan Jennings, Sir In compliance with jour request of the 2d September last, w e, a committee on behaif of the President ard Directors of the Brookille Branch Bank, beg leave to inform you, that we equally regret with yourself the depreciated sta., of our currency, and are using all meat. in our power to amend it as far as we are concerned. We think it necessary to invert back to the time we lirst suspended specie payments, not doibting that )oa are apprised of the necessity which fom d us into the measure, which was :it that time considered only a temporary one ; but finding the confidence of the coi. -inanity, in banks, so completely lest, ai d the anxiety tor specie so gi eat, that It would be folly in us to resume specie payments unless banks generally resniu; until we can court a dollar in our au;ts, offperie, for every do;;ar of paper we have in circulation and in oruertc accomplish this, we aie making use of all the means in our power, but we prefer mild means (though slow) to those ri!d and severe measures w hirh w ouid distress,, and perhaps ruin the debtor, without adding any thing to the advantage of the bank. However, by those steady measures, we have been enabled to lessen the : -mount of paper in circulation without diminishing the specie in our vaults but little. How long it will be before we are able to resume spcrie payments in full, we aie not able to say, but hope that the period is not far distant ; and rest assured, that no exertions on oi r part shall be wanted to make it as short a possible. Very Respectfully, vours, WILLIAM H.EADS, Coin. ROBKRT JOHN, $

DOCTORS Shulcr&Wooherton, CONTINUE THE VUACTICK OF Physic 4 Surgery, In conjunction. They have opened a JSllOP'oit It (iter Hirvei, a lew doors a' hove the late Apothecary Store olS'A: Ifr, iVund, tV Co. Vincennes. July 8. 15-tf Notice. ALL those indebted to the sinWiibers will please c all and settle their account bv note or othei wise, h fore the 20th December next, n after that dale, none but the paper of h'pcie puyivg Hauls, wi'l he rceivd in jnvinents. and all accounts then unmMiIimI. will be ielt with an dliccr for collection. SlIULKR Sf WOOLVRIITON.