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In 1836, owing to the nice land and city lot speculation which had then reached Illinois, it was supposed that all the towns of any be aware would quickly develop into cities, and that different uninhabited towns, laid out only for hypothesis, would instantly become thriving, populous and rich, and the town-lot market could be established. In April, 1835, a treasury circular forbade the fee out of the treasury of any notes under five dollars after September 30, 1855. February 22 1836, one other circular forbade the cost of any notes out of the treasury of a much less denomination than ten dollars after May 1st. Congress superseded these circulars by an act of April 14, 1836, that no bank be aware beneath ten dollars should be paid out after that date, and that after March 3, 1837, no be aware underneath twenty dollars needs to be both given or taken by the United States Treasury or Post Office Department, and all notes given or taken must be payable in specie on the spot. A supplementary act was obligatory to place the enterprise in any practicable form. If bonds were to be bought, it would act as monetary agent to market them.
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