The Early History of Banking in Iowa

Cover The Early History of Banking in Iowa
The Early History of Banking in Iowa
Fred D Merritt
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The new directory was com- posed of Messrs. Whaple, Waller, Davis, Quigley and Farley, all of Dubuque, and who were of the highest standing in the 1 Journal of House, p. 222.
2 Journal of Council, p. 187.
3 Journal of House, p. 205.
4 Ibid, p. 210.
5 St. Louis Republican, June 16th, 1842.
62 Early History of Banking in Iowa business circles of the city. The financial standing of the bank now seemed to be better than at any previous time in its history.
In July twenty thousand dollars in specie
...1 was deposited in the Galena Branch of the State Bank of Illinois, by the St. Louis Gas Light Company with which to redeem the notes of the Miners' Bank of Dubuque. The bank continued the redemption of its notes for about one week, when being disappointed in receiving ten thousand dollars in specie it again suspended. At the time of the last suspension of specie payments there were besides the notes held by the St. Louis Gas Light Company, only about eight thousand dollars in circulation, and the bank had at this time for their redemption about one thousand dollars in specie.

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