Banking cautionary tale from state banking experiments
The Independent reviews Illinois Louisiana Florida and Tennessee banking ventures, noting repeated losses and impaired state credit after long investments. The piece argues North Dakota should learn from these histories, urging readers to verify facts, judge independently, and consider two states’ banking experiences highlighted in this issue.
MENTIONED IN THIS ARTICLE
The
Independent
Illinois
Louisiana
Florida
Tennessee
North Dakota
Mississippi banking schemes draw lessons on state fund risks
The passage discusses Mississippi state banks and the Bank of North Dakota model, noting politics tainting management and repeated failures. It details Planters Bank of Mississippi with a 3 million dollar capital, Union Bank of Mississippi with 15.5 million, and 15 million in bonds issued, with interest defaults by 1841. Repudiation followed in the 1840s and 50s, ending Mississippi's banking venture.
MENTIONED IN THIS ARTICLE
Mississippi
Bank of North Dakota
Planters Bank of Mississippi
Union Bank of Mississippi
Laws of
McNutt
Claimorne
North Dakota welcomes returning soldiers in New York
North Dakota’s welcome to returning soldiers in New York differs from other states. The War Camp Community Service runs the Hall of States at 27 West 26th Street with home folks greeting each lad and an employment bureau. Mrs. Frank White leads the North Dakota desk with clerical aid now funded by the state. Miss Harriet Wenberg and Miss Emma Burke assist, aiding wounded men in hospitals with letters and news from home.
MENTIONED IN THIS ARTICLE
North Dakota
New York
Masonic Grand Lodge
Wyoming
Michigan
Frank White
Hall of States
Westgath Street
War Camp Community Service
Central Bank of Georgia Story In Milledgeville
A historical account describes Georgia establishing a state central bank in Milledgeville with a capital mix from state shares bonds and treasury funds. It aimed to aid farmers and small traders by offering affordable loans, but records show widespread complaints of favoritism and unequal treatment across the state.
MENTIONED IN THIS ARTICLE
Georgia
Bank of Ramen
Bank of the State of Bank
Central Bank of Georgia
Milledgeville
Bank politics ruined Georgia Central Bank and bonds loss
The passage recounts the Central Bank of Georgia failing after state bonds were repudiated and assets entangled with politics. It notes a long wind‑up, bond losses for citizens, and lessons that state banks tied to politics cannot operate without corruption, with reference to 1876 session laws.
MENTIONED IN THIS ARTICLE
Georgia
Old Central Bank
Debt disaster from Arkansas Real Estate Bank in 1836 reforms
Arkansas history notes the 1836 Act to establish the Real Estate Bank of the State of Arkansas with two million capital, later the Bank of the State of Arkansas, their brief existence ending in catastrophic debt. Bond repudiation followed 12 million in totals, wrecking state credit and triggering higher long term costs while other states prospered.
MENTIONED IN THIS ARTICLE
Arkansas
J. Conway
Washington
Columbia
Helena
Little Rock
Bank of the State of Arkansas
Fayetteville
Batesville
State of
Securities of
North Carolina
South Carolina
Alabama
Louisiana
Tennessee
Michigan
California
Maryland
Connecticut
Rhode Island
Massachusetts
Ohio
Also Mentioned on This Page
Safety and Service
Bank OF Valley City
Central Bank of
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