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Chapter 29

This webpage reproduces a chapter of
Iowa As It Is in 1856

by
N. Howe Parker

Chicago and Philadelphia, 1856

The text is in the public domain.

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p262 Chapter XXX

Banking-Houses

In Iowa, the issue of bank-notes is prohibited by law, consequently we have no home currency, and depend entirely upon other States for a circulating medium. Although we occasionally receive the refuse of the East, yet large quantities of notes of the safest banks are continually sent west for circulation. Hence, every State, from Maine to Georgia, and from the Lakes to the Gulf of Mexico, contributes to the assortment, while at the same time the proportion of coin is greater here than at the East. This is in a measure owing to the immigration from the Eastern States and Europe.

There are banking houses at most of the important towns in the State, where banking, exchange, and land agency business is transacted, and to them we refer the reader, as every way worthy of confidence and patronage. Of these, we would mention —

At Burlington. — Green, Thomas & Co., successors to E. W. Clark, Bros., & Co., bankers, dealers in exchange, and land agents;

At Council Bluffs. — Green & Weare, bankers, collectors, and general land agents; Ward & Bryan, bankers and land agents;

p263 At considerable. — Green, Weare & Benton, bankers, collectors, and general land agents;

At Dubuque. — M. Mobley, exchange and banking house; F. S. Jessup & Co., bankers, dealers in eastern and southern exchange, land warrants, &c.; W. J. Barney & Co., bankers, dealers in exchange, and general land agents;

At Davenport. — Cook & Sargent, bankers, dealers in eastern and southern exchange, and general land agents; McGregor, Lawes & Blakemore, bankers, exchange and real estate brokers; Maclot and Corbin, bankers and dealers in exchange; Yerby & Barrow, bankers and dealers in domestic and foreign exchange, and land agents;

At Fort Des Moines. — Cook, Sargent & Cook, bankers, dealers in exchange, and land agents; Green, Weare & Rice, bankers, collectors, and general land agents; Maclot, Corbin & White, bankers, exchange brokers, and land agents; Hoyt Sherman, banker and dealer in exchange and land warrants;

At Fairfield. — Henn, Williams & Co., dealers in land warrants and exchange;

At Iowa City. — Cook, Sargent & Downey, bankers and general land agents;

At Tipton. — W. H. Tuthill, banker, and dealer in exchange and land warrants.

At each of these banking-houses, interest is paid on special deposits; bills of exchange on all the principal cities of the United States and Europe are bought and sold; gold and silver are bought and sold, loans effected, and all other p264banking business transacted, save the issue of bills. As land agencies, they buy and sell warrants, select and enter vacant lands, examine titles, &c.

One species of coin is not current in this State; we allude to the cent and half-cent, while even the three-cent piece is barely tolerated, and is seldom seen except in church-plates, and at the post-office.


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Page updated: 3 Sep 11