68 BANKS, U. S. 



Illinois. A bill was introduced into the 

 Legislature in Jan. to create a new banking 

 system for the State. It was to consist of a 

 mother bank at Springfield, with 30 branches 

 in different parts of the State, on a specie basis. 

 This plan was submitted to the people in Nov. 

 and voted down by a large majority. 



The bank commissioners notified the auditor 

 of the failure of 17 banks, and that they must 

 be placed in liquidation. 



The Legislature passed a bill that no checks 

 or paper of any kind payable at sight, should 

 be allowed grace. All new banks were required 

 to redeem their notes in Chicago or Springfield, 

 at not more than of 1 per cent, discount. 



Virginia. The Governor in January sent a 

 Message to the Legislature on the subject of 

 the banks refusing to supply sufficient specie 

 circulation to meet the July interest on the 

 State debt in specie. The circulation of all the 

 banks was stated at $9,476,355, and he ad- 

 vised measures to compel them to furnish the 

 required means ; the banks, however, subse- 

 quently met the requirement of the Governor. 

 The Legislature legalized suspension until 

 March 1st, 1862, on condition of their furnish- 

 ing specie funds, $1,024,440, to meet the inter- 

 est of the State debt, and $1,284,567 for the 

 January interest. 



April 18, the city of Eichmond issued small 

 notes, and a great many corporations, towns, 

 and villages pursued the same course. 



Louisiana. The Board of Currency, in Jan- 

 uary, urged upon the Legislature the propriety 

 of suppressing all notes under $10. This pro- 

 posal was approved by the Governor in his 

 Messsage to the Assembly. 



Kentucky. There were various schemes be- 

 fore the Legislature to increase the bank cap- 

 ital of the State. One, by Senator Andrew 

 Johnson, proposed to the State to start a bank, 

 " the State Bank," with a capital of $15,000,000, 

 to be made up from stock owned by the State 

 in existing banks, the issues from $1 to $100. 

 The profits to go to increase the capital until 

 the fifteen millions should be paid. The bank 

 to Tceep 33 per cent, of the circulation on hand, 

 and if, by any cause, the amount should fall 

 below, the institution might suspend payments 

 until the quota is recovered. 



S. Carolina. The State Bank issued notice 

 that the bonds of the State authorized for the 

 war of independence, were ready for sale by 

 the institution. 



Missouri. Governor Jackson, in March, signed 

 the bill legalizing suspension of the Missouri 

 banks, and made some important changes in 

 the banking law. 



August 16, the 11 banks of St. Louis made 

 a loan of $250,000 on behalf of the Federal 

 Government. 



Ohio. May, a petition to the Legislature to 

 legalize suspension was reported against unani- 

 mously in the Senate Committee. The Board 

 of Control of the State Bank agreed to take 

 $300,000 of the war loan at par. 



BAUR. 



Massachusetts. April 18, the Boston banks 

 addressed the Governor of the State offering 10 

 per cent, of their capital in aid of the Com- 

 monwealth. A law was passed, to take effect 

 June 1, 1861, requiring all banks out of Boston 

 to keep on hand 15 per cent, of their circula- 

 tion, and deposit balances due a bank in specie 

 in Boston and New York shall be deemed 

 specie after July in each succeeding year ; each 

 bank is to add 1 per cent, to its specie, until 

 the aggregate reaches 20 per cent, of the cir- 

 culation and deposits. 



Georgia. The Bank Convention met at At- 

 lanta, June 3d, and recommended to all banks 

 to receive as currency the Treasury notes of 

 the Confederacy, and to advance their own 

 notes to the Treasury until the Treasury notes 

 could be prepared. The convention adjourned 

 to meet at Eichmond, July 24, when they 

 passed resolutions to support the Govern- 

 ment. 



BAEBOUESVILLE, the county seat of Ca- 

 bell County, in the extreme west of Virginia, 

 situated on the Guyandotte Eiver, a tributary 

 of the Ohio, was the scene of a brilliant skir- 

 mish, on the 13th July, 1861, which resulted in 

 the expulsion of the Confederate forces from 

 the village. Five companies of Colonel "Wood- 

 ruffs Eegiment, belonging to General Cox's 

 division of Federal troops on the Great Kana- 

 wha Eiver, started at midnight, on the 12th, 

 from their camp, and marched silently but 

 rapidly upon Barboursville, which, however, 

 they did not reach till two hours after sunrise. 

 On coming in sight of the town they found the 

 Confederate troops drawn up in order of battle, 

 in a very strong, and apparently inaccessible 

 position, commanding their route for two miles. 

 Between them and the Federal troops was a 

 covered bridge, which must be crossed, and 

 Avhich was commanded by the enemy's cannon. 

 The Federal troops entered the bridge at double- 

 quick-step, but found that the planks had been 

 removed from the farther end, and after a mo- 

 ment's delay, were compelled to cross it in single 

 file on the string pieces, subjected to a galling 

 fire. Though necessarily disordered by this 

 movement, they rallied at once, and under a suc- 

 cession of volleys from the Confederate troops, 

 charged bayonets up the precipitous side of the 

 hill, pulling themselves up by the bushes and 

 jutting turf, and rushed, yelling at the top of 

 their voices, upon the enemy, who fled panic- 

 stricken, without attempting any further resist- 

 ance. The Federal forces occupied the town 

 at once, and fired upon the retreating foe, 

 wounding one or two, but were too much ex- 

 hausted to pursue them. 



BAUE, FERDINAND CHEISTIAN, a German pro- 

 fessor of theology, born June 21, 1702, at Tu- 

 bingen, died in the same city Jan. 4, 1861. He 

 became professor ordinarius of evangelical the- 

 ology at Tubingen in 1826. He early distin- 

 guished himself as a theological writer, and 

 was regarded as the founder of the Tubingen 

 school of theology, a modified rationalism. 



