JUNE 10, 1816 -- DELEGATES CONVENE CONSTITUTIONAL CONVENTION IN INDIANA

1816 -- DELEGATES CONVENE CONSTITUTIONAL CONVENTION IN INDIANA
Private banking corporations were banned altogether by the Indiana Convention in 1816 and the Illinois Constitution in 1818. Voters in Wisconsin, plus four other states, rewrote existing consititutions requiring popular votes on every bank charter recommended by their legislatures as a result of corrupt banking practices associated with issuing bank notes. Only private banks that didn’t issue money (bank notes) operated in these states.