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Early Michigan Early Banks Of Michigan
In the same institution, at another time, when the sworn statement showed a little over $22,000 of bills in circulation, the amount was in fact over $42,000. In another instance, where the circulation was reported at $39,425, over $44,000 in addition were issued and delivered to two individuals, making over $84,000 in bills actually issued; for nearly half of which no regular entry was made in the bank books, and no security given. In another case more than $30,000 of bills were issued in like manner, and also a post note for $20,000; and many other instances of like character might be cited.
The discounted paper of the banks was found, in many instances, to be deficient in amount. Some of it was of a character to excite grave 'suspicions as to its genuineness.
Michigan
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