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Early Michigan

Early Banks Of Michigan

It is possible that the long distance of the locality of the bank from the great centers of business may have been deemed by the projectors an important advantage. If these eastern* capitalists could give the bills of the bank a circulation in the Atlantic states, there would be little fear of their sudden return to the remote banking-house for redemption.
The bank went early into operation. Indeed, the company was organized, the banking-house erected, and the cashier appointed before the charter was granted. Judge Woodward, one of the judges who granted the act of incorporation, was appointed its president. Imputations unfavorable to Judge Woodward in regard to this and other matters were made, and much feeling being excited against him, he was threatened with impeachment.

Michigan


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