Table showing the number of inhabitants, houses, churches, fc., of the towns on

the route of the Illinois Central Railroad, in 1850 and January, 1856.

2

25

Amboy ........ 1850
16 1329 3 300

. 30 Apple River..... 1854

140

30 Ashley...

1854
150

60
Bloomington 1832 2200 5500 400 1540 10 17 26
Cairo....
1836 300 1300 15 150

1 25 Calumet Settlement 1838 50 150 12 40

2 Carbondale .....

1853
350

90 Centralia.

1854
600
60

11 Chebanse

1854 Clinton 1845 760 1500

300 500 3 20 Council Hill

1828 300 400 75 100 2 Decatur 1829 600 22001 175 600

4 30 De Soto

1851
500

701 Dixon ......

1839 540 3200 notk. not k. 3 43 Dunleith 1853 5 700 1 175

2 Du Quoin

1853
125
20

6
Elleroy
1850 18 225 8 42

5 1 Foreston ........

1855

90

13 Freeport

1838 1400 5000 200 1000 5 85 10 Hudson.....

1836 25 103 6 21 Jonesboro'...... 1818 584 803 113 162

2 13 Kankakee......... 1852 2400

400 4. 4 45 Kappa

1853
150
35

2 La Salle....

1839 200 3500 25 800 4 8 60 Lena

1853 5 350 1 65 Loda

1855
100

10 Macon

1854
28

3 Makanda....

1851
14

1 Manteno

1854
175

22 Mattoon..

1855
150

40
Mendota
1853 1800

200

3 25 Minonk.....

1851

70

15 Moawequa..

1853
300
40

7 2
Monee
1850 145 800 26 200

3 Nora

1852
300

60 Oconee

1854

70

10 Onarga

......

..........

Table showing the number of inhabitants, houses, churches, fc., of the towns on the

route of the Illinois Central Railroad, in 1850 and Jan., 1856. — Continued.

The banking system of Illinois is regulated by two acts of the Legislature, passed respectively on the 15th of February, 1851, and on the 10th of February, 1853.

The following are the principal enactments and provisions of these several laws :

No bank shall be organized with a less capital than $50,000; and stocks to be deposited to secure the circulation, &c. The amount of circulation shall in no case exceed the capital stock set forth in the certificate of incorporation; but the deposit of stock securities and the circulation may be increased from time to time, until they equal the maximum of the certified capital stock.

Bank charters shall not be granted for a longer period than twenty-five years.

All notes issued by the banks must be payable on demand, at the respective places where the banks are located, and be countersigned, numbered, and recorded by the register.

No bank shall be authorized to put into circulation a larger amount of notes than the amount of stocks deposited as security with the State auditor.

The stock thus deposited is intended, in the first place, for the redemption of the notes in circulation, provided the bank itself should fail to redeem them; and in the next place, they made to subserve the purpose of liquidating all the liabilities of any bank thus failing Each stockholder is also made individually liable in proportion to the full amount of capital stock owned by him.

If any bank shall refuse or neglect to redeem any one of its notes, and such fact be properly certified by an ordinary protest, drawn up and acknowleged by any notary public, it shall be the duty of the auditor of the State, as soon as he shall be informed of the fact, to take immediate measures against such bank.

It is the duty of the commissioners of banks to examine into their condition once in every year.

Every bank shall, at the end of each quarter, make a full statement of its funds and business transactions to the State auditor.

a

In writing this book, we have been guided, as far as possible, by the principle of pointing out facts merely, and hence we have generally refrained from expressing our own bare opinions. However, although we do not now intend to go into a particular criticism of the banking laws of Illinois, we cannot forbear from remarking, that, in our opinion, a general alteration and amendment of them is necessary to preserve the people of the State from the great inconveniences which otherwise must sooner or later arise under the present law.

According to a statement published by the State auditor, on the 10th of January, 1856, (Congressional Documents, on Banks in 1855, pages 176 and 177,) there were, at that time, forty-five banks in the State of Illinois, having, altogether, stock securities deposited to the amount of $4,134,879.62, while their note circulation reached only $3.514,911 — showing an excess of $619,968.62, in deposits, over the amount of notes in circulation.

At the present time, (December, 1856,) there are fifty-two banks in the State, — nine of which, however, are about to wind up their business.

We here give the names, location, &c., of those fifty-two banks, together with their respective capitals, as shown in the statement above mentioned, the amount of capital stock actually paid in, and the amount of stock securities deposited, with the circulation based thereon; and, also, the maximum capital authorized by their several charters, as it is set down in the Banker's Almanac for the year 1856 :

Alton Bank Alton.

E. Marsh, President; Chas. A. Caldwell, Cashier.
Charter,

$100,000

Stocks deposited, $61,581.32 Capital Stock paid in, 59,845.21 Circulation, 51,819

Agricultural Bank — Marion.

S. B. Wheelock, President; R. M. Herndly, Cashier. American Exchange Bank — Raleigh.

W. H. Parish, President; C. H. Miner, Cashier.
Bank of America — Chicago.

G. Smith President; E. W. Willard, Cashier.
*Charter,
$1,000,000

Stocks deposited, $89,000
Capital Stock paid in, 50,000

Circulation,

50 000 Bank of Aurora. · Aurora.

M. V. Hall, President; B. F, Hall, Cashier.
Bank of Belleville. — Belleville.

E. Miltenberger, President; S. E. Mandelbaum, Cashier.
Charter,

$100,000

Stocks deposited, $65,000 Capital Stock, paid in, 56,990 Circulation, 56,990 Bank of the Commonwealth. Robinson.

I. N. Whipply, President; I. H. Low, Cashier.
Bank of Elgin. — Elgin.
A. J. Waldron, President; J. J. Town, Cashier.

Stocks deposited, $200,000 Capital Stock paid in, $100,000 Circulation, 94,380 Bank of Galena. — Galena.

Henry Corwith, President; C. C. P. Hunt, Cashier.
Charter,

$100,000

Stocks deposited, $104,814.75 Capital Stock paid in, 57,000

Circulation, 73,668 Bank of Hutsonville. Hutsonville.

Stocks deposited, $100,000 Capital Stock paid in, $90,950

Circulation, 90,950 Bank of Illinois. New Haven.

G. C. Smith, President; P. C. Briggs, Cashier,
Bank of Naperville. — Naperville.

W. Scott, President; A. Keith, Cashier.
Charter,

$100,000

Stocks deposited, $55,000 Capital Stock paid in, 50,000 Circulation,

52,780 Bank of Northern Illinois. — Waukegan.

C. D. Bickford, President; Chas. R. Steele, Cashier.
Charter,

$100,000

Stocks deposited, $53,000 Capital Stock paid in, 50,000

Circulation,

50,000

* According to Monroe's Bank Note List, $200,000.