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Description and Holding Information
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Bank Commissioners. Annual report, 1st (1839)-
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**Document No. 22 First annual report of the Banking Commissioners of Ohio, to the thirty-eighth General Assembly. December 16, 1839. Three men
were the Commissioners, one of whom was named Moneypenny. The Commission held its organizational meeting on April 4, 1839. There was considerable
hostility to the Commission at first, but the Ohio Supreme Court ruled in favor of its authority, so the men began their work. There were two pages of
areas to be examined that went into each institution's report. There were seven Schedules with statewide numbers. Many banks had not paid taxes on
dividends, so that was of interest to the State Auditor. There were sections on various general banking topics, with some emphasis on possible fraud.
They used two banks as examples of particularly egregious behavior, and then dissected others for five pages. There was more general discussion
until p. 25. Pages 27-89 showed financials about individual banks. P. 91-104 were called Documents A-H, which were mostly answers to interrogatories and
evidence for some of the earlier remarks.
**Document No. 21 Second annual report of the Banking Commissioners of Ohio, to the thirty-ninth General
Assembly. December 28, 1940. The national Panic of 1837 had done damage in Ohio. Because of the Great Lakes and the Ohio River, it was easy for
currency speculators to come from the east, use questionable paper to buy specie, and take the coins away from local circulation. Col. Moneypenny had
resigned, so disaffected banks claimed the Commission was not viable, even unconstitutional, and refused to be examined. There were pending court
cases about it, but the Commission decided to keep working until told to stop. In its discussion of the economic situation in general, the Commission
provided good information about "exchange," and while the new law on illegal paper had begun to work in the state, a good banking system was still needed
to restore public confidence. The Commission defined nine schedules early in the report. It identified five institutions with particularly
egregious records, but all declined to allow the examiners in. However, when the President of the Manhattan Bank learned about the charges, he was horrified
and insisted the examiners come in so he could begin to right the ship. A Special Commission was appointed for the task. Bank statements for Ohio
banks were on pages 18-43. The Schedules were from page 44 to 61. Pages 62-83 were correspondence and other documents about investigations, with pages
84-90 about the Manhattan Bank.
**Public Document No. 15 [Third] annual report of the Banking Commissioners of Ohio, to the forty-first General
Assembly. December 17, 1842. The Commissioners submitted figures that showed a few banks had begun to pay in specie. There was also a list of
institutions whose charters were soon to expire. The Commissioners regarded this as the ideal time to tighten up the rules for re-issue or new charters.
They were much more in favor of new charters, with new people, rather than allowing poor operators to continue. There was a list of "should nots." The
Commission expounded on bank history and bank failures and pointed out that shareholders should be able to demand a payout when a charter expired.
Four schedules were defined. Bank statements were on pages 18-36. The Schedules were on pages 36-40, and the lengthy Reports of Receivers on pages
41-79.
**Document No. 38 [Fourth] annual report of the Banking Commissioners of Ohio, to the Forty-second General Assembly. December 17, 1843. Of
the banks ending their charters, only one, the Commercial Bank of Scioto, had not followed the rules. Generally, banks were back in good condition.
The Commissioners discussed paper money versus specie, the General Banking Law, and the need to stand firm on rules. Twelve banks were in receivership.
Four schedules were defined. Bank Statements were on pages 21-40, with Schedule 1 in the middle, Schedules 2-4 were after p. 40 to page 43, and the
Reports of Receivers were from page 44-124.
**Document No. 55 [Fifth] annual report of the Board of Banking Commissioners of the State of Ohio for
the year 1844. December 16, 1844. B. Latham, a retiring Commissioner, filed the report. He listed eight banks, one in the process of closing and
another with new directors and doing well. The banks were in the best condition ever; they being very careful about loans and staying away from risky
development schemes. There was not enough currency available, which led to the use of "foreign" bills, but there wasn't much to do about it. The
state needed more capital to start more banks, but that often led to speculation, which led to failure and the circle closed. He included a one and one
half page list of failed banks. The bank statements occupied p. 10-88, then there were three schedules, and the Reports of Receivers were from page
89-121.
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Title:
Annual report of the Bank Commissioners of Ohio to the ... General Assembly.
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OCLC Number:
1084451299
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Available Volumes
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