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The River Raisin Bank

The River Raisin Bank image
Parent Issue
Public Domain
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- ■ ■ - m ■ ' ■ . A it A. J. _' AAI I ' I This institution, na was expected, hay agïiin barst up, in consequence, it is said of the ligbfness of the money market The peoplc lost by ifs bnrsting onco before. The Legislatnre have, however at last repenled tlie charter. While we regret the loss which will oceur to multitudes by ife failurer we are glad of the good it will also produce, h is one means of awakening the people to sec the folly of chartering such institations, by which men aj-e pcrmïtted to flood the country with promises to pay, while the same law oxpressly exempts those who issue the promises and obtain property on them, from all cfibctual liability for thcir issues. We cannot say how long it will be before the people of Michigan will make members of corporations holden for their debts to the same extent that individual partners nre ; but we firmly believe they will become wise enough to do this ; and in all their legislation will adopt the principie of Equality op Business Privileges. They will come to this ; but it may be necessary that they should first sufler from a score or two more of irresponsible Banks. It is said tliat the River Raisin bilis can be sold in Detroit lor half the face of them.