Banks in Wisconsin numbered sixty, with aggregate capital of $4,205,000; deposits of $3,920,238; and circulation of $2,231,829.

The evidence

• “These banks both went into operation early in January, 1853, and, later in that year, the " State Bank of Wisconsin " (now Milwaukee National Bank of Wisconsin), and the " Farmers' and Millers' Bank " (now First National Bank of Milwaukee), were established, followed in January, 1854, by the "Bank of Milwaukee " (now National Exchange Bank of Milwaukee). From this time forward banks were rapidly established at different points through the state, until in July, 1857, they numbered sixty — with aggregate capital, $4,205,000; deposits, $3,920,238; and circulation, $2,231,829. In October, the great revulsion and panic of 1857 came on, and in its course and effects tried pretty severely the new banks in Wisconsin. Some of them succumbed to the pressure, but most of them stood the trial well.”

  1879-history-of-rock-county/04-wisconsin-railroads-commerce-health-statistics.md, PDF p. 189 / book p. 193

  Butterfield, C. W., et al. The History of Rock County, Wisconsin: its early settlement, growth, development, resources, etc. Chicago: Western Historical Company, 1879. Cornell University Library via the Internet Archive, archive.org/details/cu31924028871585.

  Grade A: Found on a page of one of our sources