USA > Ohio > Hamilton County > Cincinnati > Cincinnati, the Queen City, 1788-1912, Volume II > Part 21
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Many distinguished men have since held places in its faculty, among them were B. Storer, Geo. Hoadly, John W. Stephenson of Kentucky, Judge James, M. H. Tilden, Judge Manning, F. Force, Ex-Governor Jacob D. Cox, Hiram D. Peck, Rufus King, G. H. Wald and Harlan Cleveland.
In the year 1880, Governor Cox became dean of the faculty, a position which he held for the ensuing seventeen years and during that time the school attained the highest degree of prosperity ever reached by it. During the last eleven years of his administration the graduating classes numbered an average of about one hundred. The character and instruction given is shown by the large number of successful graduates now engaged in practice.
In the year 1897 Governor Cox resigned his position and the school was con- solidated with a school which a year or two before had been founded by the University of Cincinnati and of which Wm. H. Taft was made dean. A faculty larger in number and a very high class was secured and the system of instruction somewhat changed. The school started upon a new career and it seems to be in- creasing in strength and popularity.
The services of Wm. H. Taft, were soon lost. By reason of his being called to other eminent positions he necessarily laid down the active work of the dean- ship and the late Gustavus H. Wald was appointed in his place and served some two or three years when he suddenly died, to the great regret of the bar generally and especially that portion of it connected with the law school.
Mr. Wm. Rogers, a learned lawyer and a gentleman skilled as an instructor and manager of institutions devoted to instruction, was secured to take the place
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of dean and has since occupied the same, to the satisfaction of the friends of the school.
Among the faculty at this time are, Henry A. Morrill, Judson Harmon, John R. Sayler, Lawrence Maxwell and Robt. C. Pugh, all men of much distinction at the bar and devoted to the work of instruction.
There is no doubt that the old school will go on turning out generations of lawyers as heretofore and so elevating the standard of the law at Cincinnati and throughout the country generally. The list of its alumni contains many illustrious names.
It is not the purpose of the writer of this chapter to include memoirs of living persons among those appearing in it. There are so many men young and old of more or less distinction at the Cincinnati bar that an attempt to write a biographic sketch of each would probably result in a long series of papers of such general resemblance as to be uninteresting; and the attempt to select and distinguish be- tween them, would be difficult and probably unsatisfactory. Three exceptions to this rule appear to be desirable, because the men to be named have been placed in public positions such as to make it improbable that any of them will ever again appear at the bar as active practitioners, or have voluntarily retired from active practice. The most prominent of the three is William Howard Taft, now presi- dent of the United States. The salient facts of his life are so well known that it is hardly necessary to repeat them here. His life has been so fully occupied by the performance of the public duties of the great offices to which he has been called that his time for practice at the bar has been brief and his career as an advocate not fully developed. But what he did while in practice was such as to give evidence of great possibilities for the future. As solicitor general of the United States he had charge of some great causes and presented them in such a way as to win the approbation of the supreme and other courts before which he appeared. His career in Cincinnati was mainly judicial, consisting of some three years on the bench of the superior court and seven or eight in that of the U. S. circuit court for the sixth circuit. The work performed by him is fairly repre- sented by his published opinions and was such as to give him a high place among the judges of the country and to cause his name to be frequently discussed as that of one fitted for the Supreme court of the United States.
His career after leaving the bench exhibited to the public another side of his character and rendered it probable that his executive abilities exceed his judicial qualities, great as are the latter. His successes in the Phillippines, in Cuba and as secretary of war were such as to show that he is capable of dealing with dif- ficult and complicated situations in a decisive and satisfactory way. His fellow members of the bar at Cincinnati take a just pride in his great success.
The next of the three exceptions referred to is Judson Harmon, born at New- ton, Hamilton county, 1846, graduated at Dennison University and the Cincin- nati Law School and admitted to the bar in 1870. In 1876 he was elected a judge of the court of common pleas by the votes of a majority of the electors of Ham- ilton county but deprived of the office by a partisan legislature upon a contest of the election. He was elected a judge of the Superior court of Cincinnati in 1878 and was reelected in 1883, and served until 1887, when he resigned to succeed Governor Hoadly in the famous partnership of which he was then the leader.
U. THE CINCINNAT
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THE CINCINNATI LAW SCHOOL
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Governor Harmon was as great a success at the bar as on the bench and for years conducted a very extensive practice with distinguished success until he was sud- denly interrupted by an unexpected appointment as attorney-general of the United States, conferred upon him by President Cleveland in 1895, which office he ac- cepted and filled with his usual ability until the close of Mr. Cleveland's admin- istration. Among other cases successfully conducted by him was the first of the great "trust" prosecutions in which he succeeded in establishing the proposition that the Sherman act prohibiting monopolies and monopolistic combinations ap- plies to combinations of railway companies, and compelled the dissolution of the Trans-Missouri association, the defendant in that case. After the expiration of his term as attorney general Governor Harmon returned to the practice and con- tinued in it until 1905 when he was appointed by the United States circuit court of the sixth circuit receiver of the Cincinnati Hamilton & Dayton and the Pere Marquette railways. He continued to operate and control these roads until he was elected governor in 1908 and conducted their affairs with such success that foreclosures were avoided and they were restored to their respective companies with credit so far reestablished that they have ever since been operating as solvent concerns.
In the year 1908 William H. Taft was a candidate for president on the re- publican ticket, and Judson Harmon was a candidate for governor of Ohio on the democratic ticket at the same election. Under such circumstances the chances of Harmon's election seemed slender indeed, not much better than a forlorn hope in the eyes of the average politician. But when the votes were counted, it ap- peared that although Taft had carried Ohio by a great majority, Harmon had also carried it by one of equal magnitude. Governor Harmon was reelected by an immense majority in the year 1910 and is now everywhere regarded by the people of his state as the proper standard bearer for the democratic party at the next presidential election.
Another of the exceptions above referred to is John W. Warrington, appointed a judge of the United States circuit court of the sixth circuit in the year 1910, to succeed Judge Richards. By reason of the promotion of Judge Luston and the retirement of Judge Severens, Judge Warrington soon became the presiding judge of the Sixth Circuit, a position which he now adorns. Prior to his appointment Judge Warrington had spent many years at the bar in very active practice. It is doubtful if any man ever appeared in a greater number of cases at the Hamilton county bar than he participated in and his cases were usually among the most important before the court. His success with them was so great that his practice continually grew until he withdrew from it to ascend the bench. He was counsel for many corporations, firms and individuals, and represented many leading interests in and about Cincinnati. He has all the in- tellectual and moral qualities that go to make up a great lawyer, combined with such a sweetness of temper and engaging manner that he is universally popular with members of the bar and the people generally. He held but a single office prior to his appointment as judge, that of city solicitor of Cincinnati, 1873-1875 and discharged its duties in such a manner as to attract the attention and appro- bation of every one interested in the subject. It will be noted that the office was
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one which did not withdraw him from practice at the bar but only confined him to municipal cases while he continued in it.
Judge Warrington was born July 26, 1846, in Clark county, Ohio, the son of a clergyman, of English origin and a lady of Virginia descent. He enlisted in the army in the year 1862 and saw much hard service, participating in many battles including the Wilderness and Petersburg campaigns. He was severely wounded in the final assault on Petersburg and was very near to losing a leg, which was only saved to him by his persistent refusal to permit its amputation, notwith- standing the surgeon advised it. His injury was such as to compel his retirement from the army. He graduated from the law school of the Cincinnati college in 1869 and was immediately admitted to the bar.
His friends anticipate years of distinguished and useful service from him, on the bench of the circuit court and perhaps in a still higher position.
EDMUND W. KITTREDGE.
If the average member of the bar of Cincinnati were asked, who is the leader of this bar, he would almost certainly answer, "Mr. Kittredge." By reason of his years, his long and continuous devotion to the law and extensive practice, his high character and lofty ideals, he has gradually attained a position as high, and in the opinion of many somewhat higher than that of any of his contemporaries.
Born in New Hampshire in 1833 and admitted to the bar in 1856, he has ever since that time been devoted to the law without permitting himself to be diverted to any other occupation of public or private character. He was always thorough in preparation and earnest in the conduct of any case entrusted to him, and as a result his practice attained great proportions.
A distinguished gentleman of the judiciary has heretofore said of him "Mr. Kittredge possesses unusual endurance and apparently starting with careful and early mental training, he has ever since augmented his knowledge and has espe- cially devoted himself to scientific study of the law, indeed his originality and attainments gave him wide range and always rendered him instructive. His honesty and character are superlative, as an advocate he is remarkably equipped both in attributes and culture and as a man, he is an exemplar."
Mr. Kittredge has never taken any part in politics, not from any lack of in- terest in public affairs, but because his time and attention were mainly directed elsewhere. He has frequently spoken out concerning men and events in a way to attract attention and to carry conviction. Being independent in partisan mat- ters, his opinion carries great weight and he is looked upon with reverence by all the younger members of the bar.
THE BAR ASSOCIATION.
Many members of the bar, desirous of closer association and more opportunity for friendly intercourse than is afforded by the casual meetings incident to the transaction of ordinary business, in the year 1872 joined themselves together in the formation of a bar association and secured a charter for that purpose.
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The association was organized by the election of Alphonso Taft as president and a full corps of officers and has ever since existed, increasing with the growth of the bar and has in the main fulfilled the expectations of its founders.
Its principal purpose was, of course, social, and in that respect it has been a great success for each of its quarterly as well as its great annual meeting is much enjoyed by the members as an occasion for friendly talk where the good things of the table are disposed of amid a flow of wit, humor and general kindli- ness. The existence of the association has also been beneficial to the tone of the bar as a profession, elevating and broadening the views of its members. On a few occasions it has taken part in practical affairs, legislative and judicial in the matters relating to practice of the law.
On one occasion the association undertook the prosecution of a member of the bar accused of acts unbecoming a lawyer. After a famous and much imbittered controversy, he escaped punishment but the fact of the prosecution and the class of men connected with it had a wholesome effect on the bar and the community in general.
It may be here noted that the tendency of the bar from a very early time has been towards higher things. Education, training and culture have had a great deal to do with this progress and the bar association which brings the younger and humbler members into association with the noblest and ablest minds in it has contributed much to the same effect, so that while we say the principal benefits of the bar association have been social, yet its existence and conduct have had a very beneficial indirect effect on the profession.
The list of presidents of the bar association from the date of its organization to the present time is as follows: Alphonso Taft, 1872; Henry Stanbery, 1872- 6; Isaac C. Collins, 1876-8; George Hoadly, 1878-80; Joshua H. Bates, 1880- 82; Aaron F. Perry, 1882-3; Rufus King, 1883-6; Edmund W. Kittredge, 1886- 9; Patrick Mallon, 1889-92; Channing Richards, 1892-3; Thornton M. Hinkle, 1893-5; Wm. Worthington, 1895-7; John R. Sayler, 1897-9; Frank M. Coppoch, 1899-1901 ; Moses F. Wilson, 1901-03; Alfred B. Benedict, 1903-04; Charles B. Wilby, 1904-5; Judson Harmon, 1905-6; Charles H. Stephens, 1906-7; Albert Bettinger, 1907-8; Rufus B. Smith, 1908-1I.
The officers of the bar association for the years 1910-II are: Rufus B. Smith, president ; vice presidents, Frank O. Suire, Thomas H. Darby, Robert Ramsey, Oliver B. Jones, Max B. May ; recording secretary, Ben. B. Nelson ; correspond- ing secretary, Stanley W. Merrell; treasurer, William G. Hosea.
The total membership of the association in 1911 is 415. Something more than one-third of the nominal membership of the bar of the county, but prob- ably a majority of those in active practice.
THE BAR OF TODAY.
The Cincinnati bar of the 20th century shows no signs of weakness or decay, but on the contrary seems to hold more firmly than ever its high place among the institutions of the country. It is still prolific of statesmen as well as lawyers. It has recently provided a president for the United States and has at least one other who is under consideration for that high office and the list of those who
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have distinguished themselves professionally is as brilliant as ever while the younger men who are pressing forward are of such quality as to give great hopes of the future.
We have seen that at the time of the completion of the "old" courthouse in 1819 there were twenty-seven members of the bar. The city directory for 191I gives a list of about one thousand "Attorneys at Law" practicing in Cincinnati. The bar has grown with the growth of the city and has done its full share to promote its prosperity and maintain its prestige as a leading community of the Union.
Cincinnati, October 20, 19II.
HIRAM D. PECK.
CHAPTER XII.
BANKS AND BANKERS.
BANKS ESTABLISHED IN CINCINNATI OVER A CENTURY AGO-SOME OF THE FIRST FINANCIAL CONCERNS-BRANCH OF THE UNITED STATES BANK-SCARCITY OF COIN AND SUSPENSIONS OF SPECIE PAYMENT-WILDCAT AND NECESSITY MONEY -THE CITY'S MANY BANKS AND THEIR BEAUTIFUL HOMES-NOTED MEN OF THE MONEY WORLD.
BY JOHN J. ROWE.
A history of the financial institutions in Cincinnati, and a review of financial conditions here, from the early settlement days to the present time, is interesting both as a record of this city, and as an example of banking and monetary condi- tions which, in a greater or less degree, prevailed over the whole United States. As Cincinnati has had banks for over a century, a record of the monetary and banking changes here covers all the periods from before the war of 1812 to the present time; also as the various panics and periods of monetary stringency, which swept over the whole country at each time of stress, affected the different centers of trade and population in proportionate degrees, this city has furnished a fair sample of the national evolution of banking, during the past century.
Fur traders, chiefly from the colony of Pennsylvania, were the first whites to use the Ohio country, exchanging cloth, blankets, spirits, beads, etc., with the Indians for skins and furs, at the time when the ownership of the country washed by the waters of the Ohio river was a matter of dispute between England and France.
The pioneers of Cincinnati brought very little with them in the shape of money, accordingly most of their transactions were in the form of barter. But little trading was done among the settlers themselves, at first, being, as they were, a community with common interests, working together, building each others' cabins, turn and turn about. Trading with the Indians brought in skins, and furs of all kinds ; peltries soon became the standards of value, a rabbit skin being a five penny bit, or 61/4 cents, a coon skin, an eleven penny bit, or 121/2 cents, a fox skin 25 cents, a deer skin, 50 cents, and so on.
Even in the eastern part of the country the amount of currency in use was very limited; the money of the mother countries brought in by the settlers was the only currency at first, followed by the small coin of the different colonies, the "pine tree shilling," etc., then the colonial paper money appeared, although the foreign silver money was most in demand. The silver coins of Spain, the Spanish dollar especially, called a "piece of eight," or piastre, worth about eight York shillings, became the first United States legal tender.
When the troops arrived at Ft. Washington, the men were paid in Spanish silver at first, thus bringing a little more actual coin into the community. Soon
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these dollars were cut into four quarters, and even into eighths, to make change. and were called "sharp-shins." A little later the troops were paid with three dollar bills, issued by the Continental Congress in that denomination especially to pay troops, the pay being three dollars a month. These three dollar bills were called "oblongs."
Travel overland to and from Cincinnati was extremely difficult and hazardous, the trading being carried on by the river, with flatboats, which floated down the stream and were abandoned at their destination, and with pirogues and keel- boats, which could go up the river, being operated by oars and poles.
In 1801 Samuel Highway and John Pool raised some capital to build a boat to be propelled by elastic vapour, or steam, and after considerable delay started actual construction. The two firms which were handling most of the river trade, Baum & Perry, and Riddle, Bechtle & Co., were desirous of facilitating naviga- tion of the river, and when Jesse Hunt, a merchant of considerable prominence, suggested the formation of a large company to handle the river trade and engage in shipbuilding, the plan was quickly adopted.
Accordingly, in 1803, a charter for 40 years was granted by the first General Assembly of the new state of Ohio, for the Miami Exporting Co. The charter was made a liberal one, including permission to engage in banking, in addition to ship-building and trading, because of the thought that if the shipping business should not be successful, the capital could then be employed in banking. The first directorate was elected on June 16th, as follows: Martin Baum, Christian Waldsmith, Jesse Hunt, John Biggers, Daniel Symmes, William C. Schenck, Dan- iel Mayo, Israel Ludlow, Samuel C. Vance, Matthew Hueston, William Lytle.
When the board of directors organized, they elected Martin Baum as presi- dent.
The capital of the company was paid in slowly, partly in money, but largely in produce, and merchandise. Funds for the company were hard to obtain, and work was delayed. The company purchased from Highway and Pool, the boat then in process of building, but finally from lack of funds the company put the boat into operation as a "broad-horn," and it made the trip to and from New Orleans, propelled by sail, oar, and the current.
Trading under these conditions was a slow process-the round trip to New Orleans and back, taking about six months, and finally the Miami Exporting Company decided to abandon the shipping business, and take up banking.
Accordingly in March, 1807, the Miami Exporting Company opened a bank- ing office at the foot of Sycamore street, opposite the commons, or public quay, with Martin Baum as president, and the Rev. Oliver M. Spencer, as cashier. Capital was more easily obtained for a bank than for a shipping company, and soon the paid-in capital amounted to $150,000, paid partly in cash, and partly by credit. The bank had 190 stockholders, and its notes, soon in circulation, were accepted readily, helping to facilitate trade and business in the community, which had been greatly hampered by the lack of sufficent actual money or circulating medium. "The fame of the bank spread through the western country," accord- ing to the historian Daniel Drake, and dividends from 10 to 15 per cent per an- num were paid.
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As the Miami Bank, as it was popularly called, became more and more suc- cessful, the population of the town increasing above twenty-five hundred people by the end of 1810, the need for another bank was felt; so in October 1811, a public meeting was held, at which it was resolved to establish another bank. Nicholas Longworth was elected secretary of the commissioners to establish the bank, and to obtain the charter. Accordingly, a charter was obtained for five years, for the Farmers' and Mechanics' Bank. The authorized capital was $200,- 000 and about half of it was quickly paid in. The board of directors was to consist of one third practical farmers, a like number of mechanics, and the others were representative men; the first board was chosen, consisting of: Wm. Irwin, Stephen McFarland, Cave Johnson, Jacob Wheeler, Thomas D. Carneal, John Cranmer, Richard Williams, Wm. Woodward, James C. Morris, Nicholas Long- worth, Jacob Baymiller.
Wm. Irwin was elected president, Samuel C. Vance, cashier ; the banking office was opened at 45 Main street. The bank soon had its capital employed, and its paper in circulation, which was readily accepted. The dividends ranged from 8 to 14 per cent for the first few years.
In the spring of 1814, the Bank of Cincinnati opened for business, not in- corporating, however, until 1816. It distributed its shares widely, having three hundred and forty-five shareholders, in 1815, and a paid in capital of $140,000. Ethan Stone was elected president, Lot Pugh cashier, and the following were the directors: Ethan Stone, Hezekiah Saunders, Joshua Gibson, Jr., Thomas Graham, Joshua Reynolds, Nathaniel Reeder, Levi James, Elijah Pearson, James Glenn, Oliver Martin, John S. Wallace.
Its first issue of notes appeared in June 1814, and the bank did well, in spite of the general depression throughout the country, occasioned by the War of 1812. The new bank paid a 3 per cent dividend the first six months, and 4 per cent for the next half year.
In the fall of this year Martin Baum resigned as president of the Miami Ex- porting Company, and O. M. Spencer was made president, Samuel C. Vance be- came cashier of the Miami bank, and Samuel W. Davies became cashier of the Farmers' and Mechanics' Bank.
By December, 1814, the three banks had issued a good many notes, the popu- lation had more than doubled in five years, being now over 5,000 people, and the actual specie in the district was extremely scarce. Accordingly on December 26th, a notice signed by the three bank presidents, O. M. Spencer, Wm. Irwin, and Ethan Stone, appeared in the Liberty Hall to the effect that the banks would dis- continue the payment of their notes in specie, because of the existing conditions, reciting the fact that specie commanded a premium of about 10 per cent in the east, etc.
This action of the banks caused a great deal of discussion, and on January 27, 1815, a citizens' meeting was held to protest against it. Major General John S. Gano presided at the meeting, Daniel Drake acted as secretary, and the follow- ing committee was selected to investigate the matter: Rev. J. L. Wilson, Gen- eral Wm. Lytle, Major W. Ruffin, Major W. C. Anderson, Arthur St. Clair, Jr., William Corry, W. S. Keys, Davis Embree, Daniel Drake, Solomon Langdon, William Greene, Jeremiah Reeder, and Levi James. The report of this com-
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