OCR Text |
Show A DANGEROUS "BANK CHECK." Greenbacks that are not Green-) hacks, Issued by a Railroad Company. We have before us a so-called bank check well calculated to deceive an inexperienced eye, and liable to be taken for a five dollar National Bank note. On the left hand upper corner is the figure "5," and on the right hand upper corner the word "Five," each surrounded somewhat after cur-i cur-i rency style. In the centre are a railroad, rail-road, a train of cars, and a telegraph j line, with mountains in the distance, I surrounded by a circle with scrollwork. scroll-work. To the left of the circle is a large figure "5" colored, and to the right "Five" again spelled out, with the word "Dollars" over it. The note, for such it practically assumes to be by its appearance, is number "62," series "A;" and the face of it bears the words, "Salt Lake City, Ti.in.it-,f ir.tu i7J s,.u t r.Kr National Bank of Utah, lo2 days after date, will please pay to the order of W. B. Welles, Treasurer, or Bearer, Five Dollars. Bingham Canyon & Camp Floyd R, R. Co." It bears the signatures of Wm. B. Welles, Secretary; and C.W Scofickl, President. The obverse side is decidedly green enough for a "greenback." In the centre are the words "Redeemable at the Salt Lake City National Bank of Utah;" with the figure "5" on either side. We have been somewhat minute in description, des-cription, because we view this "check" as a dangerous one which opens the way for a public robbery of a very serious character. A hundred and li fly-two days after date would make it payable June 17th of this year; but the figures so appear that at a cursory glance one reads it "15" instead of "152." This may bean accident; but whether or no does not affect the great objection to such a circulating medium, for these "checks" or notes are virtually such a medium. Hundreds of persons per-sons not accustomed to handle much money, will conclude that each note is good at any time ; and when they read " Redeemable at the Salt Lake City National Bank of Utah," they will consider that the banking institution of which Mr. Du Rell is President is good for any amount of them. That bank, as we learned by enquiry, will redeem at the rate of rangements having been made for such redemption for the time being ; but the bank is not under any obligation obliga-tion to redeem a single note unless there are collaterals deposited with it in the shape of greenbacks ; and ! while arrangements may have been ; made for redeeming two thousand dollars a month, there is opportunity for twenty thousand dollars a month more to be in circulation, which the issuers may or may not redeem. I We are of the opinion, although al-though we have not closely examined the law on the subject,that this issue could be made an indictable matter; but as it opens up so wide a field for palpable robbery, wo direct the attention of the public to it; and suggest to the Legislature the propriety pro-priety of examining the law on the circulation of any unauthorised medium med-ium of currency, and so amending it, if necessary, 'as to meet this or kindred kin-dred cases." It may not be improper, also.to ask Mr. Hollister if the tax luu beep paid, on this scrip. |