﻿ESAEEY: STATE BAXKUs^G IK IXDIAXA 



251 



The general necessity of a bank was conceded. There was some 

 objection to enacting a state monopoly, and the experience with 

 the old Vincennes Bank made men hesitate to charter another state 

 bank. But on the whole the people were strongly in favor of a 

 state bank and were deeply disappointed at the failure of the Sen- 

 ate to enact a charter. 



The bank question contested with that of Internal Improvement 

 for the chief place in the campaign of 1833. i° This campaign began 

 as soon as the legislature adjourned its winter session. IMany 

 urged that the Governor call a special session; but it was argued 

 effectively that the same men who had failed once to pass a charter 

 would fail again, and that the state would be put to needless ex- 

 pense. An editorial in the Democrat directed that the support 

 of a bank be made the central point in the creed of every candidate 

 for the legislature. ''We beheve," said the editor, ^'that a great 

 majority of the people want a bank, but that there is a certain class 

 of low politicians who are making an effort to defeat it. Especially 

 do we hear of such attempts forming in the eastern part of the 

 state. The people want a safe and permanent bank, and it should 

 be established." These "low politicians" mentioned by the editor 

 were of two classes — first, those who preferred "wildcat" banking 

 and coveted a job as bank commissioner, or were hanging back 

 that they might be taken care of; secondly, the Jacksonian hard- 

 money men, who wished no money to circulate except specie. 



The legislature that met in December, 1833, lost little time in 

 getting together on a bank charter, Governor Xoble set forth in 

 his message the general demand for a bank. Both Houses dis- 

 closed strong bank majorities; and since in the year's discussion by 

 the people, the main points of the bill had been settled, there re- 

 mained little to do except enact the people's will on the subject. 

 A bill was before the House for discussion on the sixth of January. 

 It passed the House by a majority of 48 to 23; and the Senate by 

 eighteen to eleven. 



The provisions of this charter show that it was carefully 

 drawn. It shows no trace of any interests contrary to the public 

 welfare. The state was divided into ten districts as nearly equal 

 as possible and the directors were to establish a branch in each 

 district. The directors were given power to locate an eleventh 

 and a twelfth branch as soon as the commercial situation seemed 



^"Indiana Journal, May i, 1S33. 

 » Deynocrat, June 15, 1S33. 

 '''^Indiana Journal, January' 1, 1834. 



Ho. Jour., 1833, p. 10. 



Laws of Indiana, 1834, ch. vii. 



