The first bankers' convention in Wisconsin was held.

The evidence

• “It was found that many of the banks had been set up without actual working capi-. tal, merely for the purpose of issuing circulating notes,-and were located at distant and inaccessible points in what was then the great northern wilderness of the state ; so that it was expensive and in fact impracticable to present their issues for redemption. While these evils and their rem-, edies were a good deal discussed among bankers, the losses and inconveniences to the people were not yet great enough to lead to the adoption of thorough and complete measures of reform, The effect of these difficulties, however, was to bring the bankers of the state into the habit of consulting and acting together in cases of emergency, the first bankers' convention having been held in 1857. This was followed by others from time to time, and it would be difficult to overvalue the great good that has resulted, at several important crises from the hara.onious and conservative action of the bankers of our state.”

  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