. Industrial history of the United States, from the earliest settlements to the present time: being a complete survey of American industries, embracing agriculture and horticulture; including the cultivation of cotton, tobacco, wheat; the raising of horses, neat-cattle, etc.; all the important manufactures, shipping and fisheries, railroads, mines and mining, and oil; also a history of the coal-miners and the Molly Maguires; banks, insurance, and commerce; trade-unions, strikes, and eight-hour movement; together with a description of Canadian industries . 1 $51 forbade the organization of any
. Industrial history of the United States, from the earliest settlements to the present time: being a complete survey of American industries, embracing agriculture and horticulture; including the cultivation of cotton, tobacco, wheat; the raising of horses, neat-cattle, etc.; all the important manufactures, shipping and fisheries, railroads, mines and mining, and oil; also a history of the coal-miners and the Molly Maguires; banks, insurance, and commerce; trade-unions, strikes, and eight-hour movement; together with a description of Canadian industries . 1 $51 forbade the organization of any more banksexcept under a general law. Such a one was enacted in 1852, which pro-vided that United-States stocks, or stocks of the several States, Generalincluding those of Indiana (then worth about ninety-five per banking ), should be deposited with the auditor as security for circulating-notes,the stocks to be made equal to one bearing six-per-cent interest. The law didnot require a board of directors, nor that the stockholders should be citizensof the State. In October. 1S54, there were eighty-foot of these banks : andthe returns of sixty-seven of them at that date exhibit $7,425,000 of circula-tion, with a total authorized capital of $32,900,000. The oppressive tax-lawof Ohio having driven capital from that State, it was to a considerable extentinvested in the free banks of Indiana. In 1856. of ninety-four free banks,fifty-one had suspended, and their notes were selling at from twenty-five toseventy-five per cent discount in 8o8 INDUSTRIAL HISTORY ILLINOIS. The record of State banking in Illinois is not quite so bright as that ofIndiana in the earlier history of the two States. The first bank was started inDisastrous Illinois in 1813, five years before it was emancipated from Territo-beginnings. rja^ government to the dignity of a State. It was located at Shaw-neetown, and the whole Territory then had but fifteen hundred regular charter was
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