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Early Michigan Early Banks Of Michigan
In respect to the amount of specie required to be held by the banks, the frauds were most glaring. The bank commissioners were carefully Watched, with a view to transporting specie from banks already examined to those which it was supposed they were about to visit. Gold and silver never before circulated so freely or traveled so rapidly ; and if the same well-filled boxes or bags were found in several banks in succession, some official at each was ready to swear that the bona fide ownership was vested in the present possessor. Sometimes it passed the commissioner by rapid transit on the road; sometimes it was transported by night; sometimes, arrived too late, it was handed in at the back door of the banking house while an examination was in progress.
Michigan
Page 36
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