History of the city of Toledo and Lucas County, Ohio, Part 61

Author: Waggoner, Clark, 1820-1903
Publication date: 1888
Publisher: New York and Toledo : Munsell & Company
Number of Pages: 1408

USA > Ohio > Lucas County > Toledo > History of the city of Toledo and Lucas County, Ohio > Part 61

Note: The text from this book was generated using artificial intelligence so there may be some errors. The full pages can be found on Archive.org (link on the Part 1 page).

128 91

41 15

64 45

15 09

Sylvania.

52 89

17 61

26 11

29 60

Wing ..

2 06

1 03

6 25

Swan Creek

7 71

2 56

3 83

Springfield.

15 30

7 65

5 10

21 12

Providence

24 28

8 09

12 14

3 85

York

17 30

8 65

22 24

The annual report of County Auditor Young. made June 20, 1838, showed the total receipts to have been $4,131.23, with a total expendi- ture of $6,559.95. Auditor's fees amounted to 8600-for Mr. Young, $475, and for L. S. Lownsbury, his successor, 8125; for printing $117.50; Prosecuting Attorney (John Fitch), $135 ; for defense of criminals, David Higgins and Andrew Coffinbury, each $15. The Treas- urer, S. L. Collins, received as fees, $396.02.

The financial report of Lucas County for the year ended June 20, 1840, showed the aggre- gate receipts to have been $5,585.94; and the expenditures, $7,945.18; showing the excess of the latter to have been, 82,359.23. The chief items of expenses were-Infirmary Farm and support of the poor, 81,784; witnesses' fees in State cases and jurors, 8903.62; Justices', Con- stables' and witnesses' fees in criminal cases, $420.22; Prosecuting Attorneys', 8599; print- ing. 8288.53; boarding prisoners, $122,75.

The total expenditure by the County for the

year ended June 30, 1811, was $8,112, of which $1,311, or 16 per cent. was paid for advertis- ing and printing-chiefly for advertising lands delinquent for taxes. This sum was more than the total expenses of the Poor lonse Farm and the support of the poor.

As the result of the financial policy of the Government under Jackson's Administration. whereby the currency of the country was enormously inflated by excessive Bank issues, speculation was rite and heavy investments made in Government lands throughout the West. From this source, largely, the public resources became much greater than was the demand of the service. Consequently, a large surplus was accumulated, the disposal of which came to be a leading question in National polities. The Whigs demanded the distribu- tion of the surplus money among the States, while the party of the Administration (the Democrats) were disposed to hold it in the Treasury, for an emergency that might arise. At the session of 1836-7. Congress passed a law providing for the distribution of this surplus, according to the representation of the several States in Congress. The amount coming to Ohio, was $2,686,347.12. By act of March 28. 1837, the State Legislature apportioned this sum among the several Counties, according to their population, where the money was to be loaned by the County Commissioners at the rate of 6 per cent. interest, on good real estate security. The amounts assigned to the several Counties named were as follows : Huron,

861,144.07; Seneca, $31,755.73; Sandusky, 821,270.70; Wood, $11, 197.15: Lucas, 811.229,39; Williams. 85,614.69; Paulding. $5,35 1.41; Henry, $5,615.69; Hamilton, $119,042.86; Franklin, 846,164.05; Cuyahoga. 866,189.27. The ratio was 811.22 per voter. At the time, this distribution of money was generally re- garded as a great benefit to the country, and especially to the borrowers-so much so, that there was no little contention among appli- cants, and jealousy awakened by alleged " favoritism " on the part of the Commissioners. But when the loan had terminated and the money was to be paid-as much of it was upon suit and foreclosure of mortgages-there arose serious doubt as to benefit derived from the use of the money. In fact, the common judgment was, that more harm than good came of the transaction. Many a suffering farmer then wished the money had remained a surplus in the National Treasury.

DELINQUENT TAXES.

In no other way were as elearly shown the effects and the extent of the memorable era of land speculation, beginning in 1834, and end- ing with the financial collapse of 1837, as in the extended lists of lands delinquent in pay- ment of taxes. This was more specially notice-

326

HISTORY OF TOLEDO AND LUCAS COUNTY.

able in the case of lots in the great number of Towns projected by speculators throughout the West, of which the Maumee Valley furnished its full quota.

The first levy of taxes made in Lucas County, was in 1836, and was abont 12 mills on the dollar of valuation, aside from Town taxes. The first list of delinquent taxes published, appeared in the Blade, November 1, 1837. The parcels of land numbered 26, of which 21 were in Port Lawrence and 5 in Waterville Town- ships. The owners in Port Lawrence, with the number of acres, were as follows: Port Lawrence Company, River Tracts 1 and 2, 360 acres; Wm. Oliver, parts of Tracts 3, 4, 86 and 87, and 182 acres in Section 12, Town 10, Range 10-in all, 661 acres, valued at $7,612, or 811.53 per acre. Elisha Whittlesey owned 512 acres in Sections 2 and 3, U. S. Reserve, and in River Traet 3. The other owners were Wm. An- drews and Starr, W. J. Danielsand J. N. Steb- bins, C. S. Patterson, Isaac Street & Co. (125 acres), and 5 parcels (400 acres), unknown. The Waterville lands belonged to John F. Co- bean, James G. Hlounot, Alexander Howard, and Mary Johnson, the whole amounting to 640 acres, and valned at $1,428, with taxes of $35.12, or 54 cents per acre.

The list of 1837, was chiefly devoted to Town property in Port Lawrence and Vistula plats (Toledo). Of the former, Wm. Oliver repre- sented 85 lots, with 125 divided between " Un- known " other owners. The valuation of lots ranged from $10 to $800, the average being about $140. The taxes were about 27 mills on the dollar. Among the owners were Fred. Bis- sell, Baxter Bowman, Joseph English, C. I. Keeler, Wm. Oliver, Converse Porter, Raymond D. Lynde and Volney Spaulding. Mr. Oliver owned 75 lots. Some 60 were " unknown." About 100 Vistula lots were given, belonging to Edward and Fred. Bissell, Frederick Bel- knap, W. IE. Chapman, Samuel Eddy, Merceno Fox, Gilman & Wright, P. M. Irving, W. II. Lathrop, C. J. MeKnight, Elijah Porter, The- ophilus Pitcher, Geo. Redding, Peter HI. Shaw, Albert Swift, B. F. Stickney and Amos Stow. The valuation of Vistula lots ranged from $15 to $350. About 20 lots were in Maumee and Miami City, belonging to R. A. Forsyth, Hunt, Beebe & Beaugrand, Wm. Oliver, Norman C. Baldwin, Bronson & Crocker, Wm. Ilunford and James Shepard. The highest valuation was 8670, and the lowest $12. Waterville had 4 lots, in the names of Lyman Dudley, John Pray, Wm. Schenck and Hiram C. Smith, the valuations being $20 to $25.

At the time of this sale, S. M. Voung was the County Auditor, and Daniel Me Bain the County Treasurer, both of whom are still living.

The full measure of tax delinqueney did not appear until 1840, the unparalleled lists of which year yet stand as " high-water mark " in that department of financial conditions.

First, we have the list of lands and lots of Toledo. as returned by Edson Allen, City Clerk, and advertised for sale on the last Monday of December, 1840. This list occupied one and a half pages of the Blade, and contained 1,000 pieces of property. Of these, 30 were tracts of lands within the City of Toledo, ranging in quantity from 7 to 160 acres, and charged with taxes of from 55 cents to $23.33. The taxable valuation ranged from $5.00 to $20.00 per aere.

The County delinquent list occupied no less than 10 pages of the Blade. It embraced about 200 parcels of lands, in the several Townships, of which 55 were in Port Lawrence, 40 in Waynesville, 20 in Waterville, 20 in Sylvania, 28 in Wing, 22 in Swan Creek, 2 in Providence, 3 in York. 9 in Royalton, and 11 in Oregon. The list consisted mainly of Town lots, located in Toledo (Port Lawrence and Vistula), Man- hattan, Maumee City, Miami City, Waterville, Sylvania, Whiteford and Lucas City.

Of the Toledo lots (2,200 in number), 90 be- longed to Sidney Bissell, 40 to Charles Butler (of New York), 70 to S. B. and A. J. Comstock, 80 to the Erie & Kalamazoo R. R. Co., 300 to Henry W. llicks, 40 to C. W. Lynde, 400 to William Oliver, 130 to Pratt & Taylor of Buf- falo, 180 to B. F. Stickney, 80 to American Land Company, 560 to " unknown " owners, 70 to Micajah T. Williams. The valuation of these lots ranged from $10 to $1,500, the latter being lot 9, Port Lawrence, the property of William P. Daniels (Northeast corner of Sum- mit and Perry), on which stood the Indiana Hotel and Daniels's Store. The range of taxes due was from 52 cents and 5 mills, to 894.38 ; the rate being about 5 per cent. of valuation. The larger portion of the Toledo lots stood at $60 and less, and a large part at and below $20. Lots, 30 in number, bounded by Huron and Erie and Lafayette and Monroe Streets, were valued in a lump at $600, or $20 each, the tax on which for 1839 was 42 cents per lot.

The following lots were advertised for sale as " forfeited " for non-payment of taxes, pre- vions to 1840 : Port Lawrence-Lot 1, corner of Summit and Monroe, now occupied by Com- mercial National Bank building, belonging to Wm. Oliver, was appraised at 81,500, the high- est in the plat, and was taxed 811.79 for City purposes in 1839. Lot 2 ( East half), property of Baldwin & Co., valued at $100, and taxed 78.6 cents. Lot 14, North side Summit Street, next to Monroe West, valued at $140 and taxed $1. Lots 9 and 10, Northwest corner Summit and Perry, aggregate tax $44.28. Lot 8, corner Summit and Perry (Burnett Hotel), value $420, tax 83.30. Lot 12, Baldwin, Keeler, et al , Southwest corner of Monroe and Summit, tax $8.17. Lot 19, Morris Sleight, North side Sum - mit Street, next to Jefferson, tax $26.80. Lot 20, Daniels & Goettell, Northwest corner Sum- mit and Jefferson, tax $26.80. Lot 101, Sum- mit, between Adams and Madison (1st National

327

COUNTY AFFAIRS.

Bank building), value 8140, tax 8857.64. Lots on the South side of Summit then ran through to the River, and were taxed heavily for the opening and filling of Water Street, which gave them three frontages, instead of the one origi- nally possessed. This tax was from $20 to $26 per foot front. The site of the present llall Block, corner Superior and Jefferson (lots 177 and 178) was delinquent in $1.10 taxes. The Union Hotel Company owned lots 109, 110 and 111, South side, and lots 119 and 120, North side Summit Street, next to Adams, extending from Trinity Church to the River. The valuation of these was $700, and the amount of fity tax $40.23. Lot 122, Northwest corner of Summit and Adams, belonging to the same Company, was taxed 817.86. Trinity Church lot (163) corner St. Clair and Adams, was taxed 818.96, of which 817.86 was for Summit Street grade tax. Lot 95, the property of Ira Smith, South side Summit and next to Madison West (site of Store of C. L. Luce & Co.), was valued at 8140, with a general tax of $1.10, and a Water Street im- provement charge of 8770.28. Lots 105, 106 and 107, owned by Edward Bissell, South side Summit, between Adams and Madison (includ- ing the present Toledo Commercial building, 178 Summit), were charged 85,288.64, or $22.03 per foot front as Water Street tax. Lot 108, on the Southwest corner of Adams, paid or was taxed 81,043.60, of which $1,040.14 was for Water Street.

Vistula Division : Lots 1,423, 1,424, 1,425, 1,434, 1,435, 1,436, 1,437, and 1,438 (8 in num- ber, and 100x128.4 feet in size), comprising the present site of the Court House, were valued at $40 cach, with a total tax of $2.51, or 31.4 cents per lot. That was some 13 years before the property was selected for its present use. Lot 489, corner of Cherry and Superior, on which then stood the First Presbyterian Church, and now the site of St. Francis de Sales Catholic Church, was valued (with buikling) at $1,620, and was charged $12.73 taxes. It stood in the name of John Berdan & Co. It never belonged to the Church. Lot 480, owned by M. H. Til- den, Northeast corner of Superior and Walnut, now the site of M. D. Carrington's residence, was valued at $20, and taxed 81.04. Lots 601 and 602, Northwest corner of Huron and Lo- eust, then owned by J. R. Williams, and now the residence of Fred. Eaton, were valued at $240, and taxed $1.73. Lot 1,077, the site of St. Mary's Catholic Church, corner Cherry and Michigan Streets, was valued at $80, with a tax of 62 cents-being owned by the American Land Company. Lot 1,103, the property of Sidney Bissell, was valued at $20, and taxed $1.04. It is now the site of the Moulding Works, corner of Chestnut and Champlain Streets. One-half of lots 743 and 744, North- east corner Cherry and Erie Streets, then be. longing to Pierre M. Irving, was valued at $89, and taxed at 78 cents. The property was never

improved and has thus lain since platted in 1832. In 1836 it was held at $500. C'alenla ting the interest as doubling every ten years- it has done that oftener in Toledo-and the value of 51 years ago, now (1887) amounts to 824,000. Calling the average of taxes 810 per year (and it has probably been more than that), these with interest, now stand at 83, 50, making a grand total of $27,850, as the investment made in property which is worth aboat one-third that amount. It is now owned by Maro Wheeler. A like arithmetical calculation as to all other City property which has lain for the half con- tury withont use, would present a startling ag- gregate And yet, the proportion of such in Toledo has been far below the average of Cities of its age. In very few of these, has invest- ment in real estate been attended with equal return. Lots 310, 311 and 313, North side of Summit, between Lagrange and Elm, owned by Edward BisseH, were taxed $14.71 each for Sum mit Street improvement. The block bounded by Madison and Jefferson and 13th and 11th Streets, containing 10 lots, and now the resi- dence of S. M. Young, was valued at $15 per lot, and taxed 11.7 cents each. It was then con- sidered too far from the settled portions of the City to have actual market value. And yet, it was only 13 years later, that James Johnson erected the dwelling now occupied by Mr. Young. Lots 801, 802, 806, 807 and 808, North side Ontario, between Chestnut and Mulberry, belonging to Sidney Bissell, were offered for sale for taxes in 1839, without purchaser, at 81.14 each ; and again offered in 1840 at the same price, without sale. The block now occu- pied by the Central School and Mannal Train- ing School building, were offered for sale in 1840, at 52g cents each, the taxable valuation being 810. These lots were 10 in number and were 100x100 feet in size, and might all have been purchased for $5.25, with the liabilities to redemption under the law. There were 520 lots in a body in Vistula Division, the aggregate valuation of which was 85,200, and the tax levy under which they all were offered for sale only 8273. They comprised nearly all lots in Vis- tula Division between Nos. 1180 and 1656-an aggregate of 450, largely in the Third Ward and constituting much of the best improved property in the City. Some 80 lots in Port Lawrence, owned by the Eric & Kalamazoo Railroad Company, were valued at $20 each, and taxed 81.04, or 883.92 in all. Oliver's Ad- dition pretty much entire - from No. 1 to 311- was included in the sale of 1840. From No. 1 to 200, the valuation was 860, and the balance $20 - all standing in the name of Win. Oliver. B. F. Stickney had in the Vistula list, Iso lots, of values of $20 to $140, and scattered as to numbers between 239 and 1,133. The Ameri- can Land Company had 80 lots in Vistula, while of 600 lots in the same, the owners were "unknown."

328

HISTORY OF TOLEDO AND LUCAS COUNTY.

By all odds, the Manhattan Land and Rail- road Company represented in this list the largest quantity of property. It embraced very nearly the entire plat of Manhattan, con- sisting of 5,250 lots, constituting 211 blocks, of from 4 to 32 lots each. The values of the lots were 810, 815, $20, and $30; the larger portion being 810. The taxes (for 1839 and 1840) were 21 mills on the dollar per year, to which were added penalty and interest on those for 1839. Thus, on a valuation of $10, the tax was 21 cents per year, and the penalty and interest for 1839, 10 cents and 4 mills, making 31 cents and 4 mills for that year and 21 cents for 1840, and a total of 52 cents 4 mills for the 2 years. The larger valnations were in the same proportion. Of the 5,250 lots, but 11 were valued above 830. This list occupied 25 columns of the Blade, and seems to have severely taxed the typographical resources of the office, from the extent to which -using the Printer's term-it "ran on sorts." Thus, after exhausting the stock of figures, it was found necessary to use the word " ten," instead of the unit and cipher, and to fill up columns with " do," as abbreviation of " ditto." This is not surprising, in view of the fact that the office was a small one, and was called to provide for a job, which, of its kind, has since never been equaled in extent. It contained 325 columns, of 210 lines each, making a total of 68,250 descriptions and amounts in figures. The average valuation was about $25 per lot, making the aggregate, say $58,750 .*

Next to Manhattan, in this list, came Miami City, Waynesfield Township, of which the Miami City Company was the proprietor, and in whose name some 350 lots were taxed. The valuation of unimproved lots ranged from $15 to 880. Of those in the name of the Company, but 2 seem to have been improved. Lot 4, block 4, was placed at 83,820, with a tax of $178.67. Lot 6, block 21, had a valuation of 8380, and was taxed $18.17. Scott's Addition contributed 150 ; and Wolcott's Addition about the same number of lots. Individual owners were Nathan Rathbun, Geo. A. Sackett, S. A. Sargent, Wolcott Stebbins, Daniel Strayer, Andrew Trapp, John Trapp and Marcus Wil- cox, with many " unknown."

Maumee City had about 75 lots, scattered among Hunt's, Hunt & Beaugrand's, and Mrs. Gibbs's Additions, the names of owners being Anthony Ambrose, heirs of Levi Beebe. John Brandage, B. M. Burtiss, Chas. M. Briggs, Bronson, Crocker & Fitzhugh (Oswego, N. Y.), N. C. Baldwin, II. N. Converse, David Coles, A. H. Ewing, James H. Forsy th, R. A. Forsyth, Chloe Gibbs, John E. Hunt, C. C. P. Hunt, C. L. Henderson, Edward Hallen, J. B. MeBride,

Luke Mason, John McNees, Wm. Mumford, Madison Reynolds, Wm. Richardson, Atwood & St. John, Waite & White, Oscar White, Wag- ner & Horn, Brittain Wolsey, Horace Waite, S. M. Young, Eli Kitts, and " unknown."

Waterville was represented by about 50 Town lots, about one-half of which belonged to Ira White and associates. The other owners were Galen B. Abell, Jacob Courson, James H. Forsyth, D. P. Farmer, Cole, J. Ilall, Burton H. Hickock, John Pettinger, Welcome Prav, Pray & Abell, Win. Schenck, Hiram Smith, and Theophilus Short. The valuations ranged from $8.00 to 8300.

Sylvania held a prominent place in the list, having therein about 800 lots, of which 300 stood in the name of Heman Walbridge, 100 in that of Wm. Wilson's heirs, and 35 in that of lohn U. Pease (the same being in the White- ford plat). Besides these the names of Elkanah Briggs, Beebe Comstock, Charlotte Decker, D. Greenvault, Delavan D. Hawes, Abram Jessup, Coleman I. Keeler, Jr., E. & S. Morse, Geo. Parker, Joseph Roop, Samuel Smith, H. II. Smith, Win. L. Smith, Dwight F. Stone, Joseph Titsworth, Thos. Townsend, W. H. Townsend, John Wall, Thos. Jefferson Crom- wall, Joseph Clark, Jedediah Jessup, John Fitch, David White, and heirs of David White, with 100 down to " Unknown "

Lucas City had its place in the list, contrib- nting 450 lots. Of all these, the owners were " Unknown." The valuation ranged from $3.00 to 820 00 per lot; the tax being 5.11 per cent. There seems to have been no improvement on any of the lots named. Abont 60 lots were in Platt Card's Addition, of which 4 had been transferred to Z. Prescott. Ironville now occu - pies a portion of the site of Lucas City.

The Town plat of Oregon was represented by 2 lots in " Water Block," the property of George Powesland-the one (No. 11) being valued at 8280, and the other (No. 12) at $25. The other Oregon lot, was No. 2, " Upland Block," belonging to Luther Whitmore, Ir., and valued at 8330. The tax was abont 3 per cent. on the valuation. Mr. Whitmore still re- sides within the plat of Oregon.

The list of lands delinquent for payment of taxes in 1841, occupied six pages of the Toledo Register. Among the Town property thus ad- vertised, was the entire plat of Amsterdam, German Township (now in Fulton County), consisting of 282 lots, belonging to Albert Hel- fenstein ; which were valued at the uniform price of $5.00, or which taxes were delinquent to the amount of 12 cents and 93 mills cach. Of this amount 4-7 cents was for the year 1840 (interest and penalty included), and 8 cents and 23 mills for 1841. The Maumee Land and Railroad Company was represented in 120 Manhattan lots, varying in values from $5.00 to $17.00 cach, with taxes thereon ranging from 373 to 75 cents each. The largest single levy

* Soon after the Town was platted, residence lots, distant from the business center, were sold at $600 each, and sales were suspended by the owners, on the ground that prices were too low; and contracts made were denied execution.

329

COUNTY AFFAIRS.

in the list was that on the Erie and Kalamazoo Railroad depot and machine shop, 8203.12, the valnation thereof being 83,451. The next highest tax was $30.00. Vinton, Waynestield Township, furnished lots from I to 5-1 inclusive, in the name of Daniel Hubbell, valued at the uniform rate of $5.00, with taxes varying from 17₺ to 37 cents.

The list of lands advertised in September, 1842, as delinquent for taxes, embraced 1,300 lots, of which 380 belonged to William Oliver, and were in Oliver's Addition ; and 160 were those of B. F. Stickney, in Vistula Division. The amounts of taxes due ranged from $31.44 to 19 cents and 6 mills per lot. The valuation was from $2,300 to $5.00 per lot-the former consisting of the Erie and Kalamazoo Railroad Depot.

The location of the several Towns projected along the Maumee River in early times, and more or less prominent in delinquent tax-lists, will better be shown by the map herewith of that stream from Maumee and above to Mau- mee Bay and the Lake. Commeneing up the River, we have, in succession, on the West side, Maumee, Miami, Marengo, Toledo and Manhat- tan ; and on the East side, Perrysburg, Oregon and Lucas City. Of these, Marengo, Oregon and Lucas City soon ceased to exist-conceding ,that either of them ever had real existence; while Manhattan has been lost in Toledo, as has Ironville, largely a successor of Lucas City. This map bears no date, but was made about 1836.

Lucas City was laid out in the Spring of 1836. The first announcement of its existence consisted of the following advertisement, which appeared in the Toledo Gazette :

LUCAS CITY LOTS.

The undersigned offer for sale about 1,500 lots on this important site. It stands at the mouth of the Maumee River, near its junction with Lake Erie. The back country is wide and rich, and the channel which passes has been acknowledged by experienced navigators to be deep and broad enough for vessels of the largest tonnage. The establishment of Roads and Canals, as well as other public works, which are projected within its neighborhood, gives it extraordi- mary and marked advantages. The public attention seems to be directed to this important point, as the great outlet of the West ; and this fact tends to ren- der it an important object to the speculator or actual settler.

The City lots may be seenred upon the most advan- tageous terms, upon application to

WILLARD SMITH, E. C. HART, GEO. HUMPHREY, Trustees.

Lucas, May 6, 1836.

N. B .- The local advantages of the place may be ascertained by applying to the Masters of Vessels and Steamboats, who ply upon this track.

LIKEWISE 500 CITY LOTS,

By WILLARD SMITH.

LAKE

ERIE

TURTLE 1

NORTH CATE

CHANNEL

OTTAWA DAY

HAVRE M

VRE FAX

VMY.101

MAUMEE

HARRIS'L

OPRESQUE ISLE

LUCAS CITY

MANHATTAN

TOLEOO.

ORRECON

THE MAUMEE RIVER, BAY AND LAKE, 1836,

CHASSI

PROPOSED CANAL

MARENCO.

لما

-----

TOWN

MIAMI

CHINES

PERRYSBURG

MAUMEE

FORT. MEICS

---

1 NMOL

12 MILES SCUARE RESERVE L

FULTON L

BAY

CHAPTER V.

POLITICAL PARTIES AND ELECTIONS.

POLITICAL parties in this country first took definite shape. in the contest between the adherents of Adams and Jefferson, after the retirement of Washington. As the result of different intervening causes, the lines then formed between the Federalists on the one hand, and the Republicans on the other, became more or less obscured or weakened through the Ad- ministrations of Madison, Monroe and John Quincy Adams. Under President Jackson (1829 to 1837), party divisions, upon new issues, soon assumed the sharpness and bitterness of former days, and soon came to be known as the Dem- ocratie (that of the Administration) and the Whig party, with such men as Henry Clay, Daniel Webster and Thomas Ewing for its leaders. The questions of policy on which these parties were mainly divided, related to finance, the currency, the tariff, and the disposal of moneys received from sales of public lands. The real starting point of the division which fol- lowed, consisted in the veto of the act of Con- gress for the re-charter of the United States Bank. This wasdone on the ground of alleged unconstitutionality of the bill. That institu- tion, through its main office in Philadelphia and its branches in different States, not only supplied currency and exchange facilities to the country, but was the depository of public funds. Soon after the veto of the Bank charter, the President directed the Secretary of the Treas- ury, Wm. J. Duane, to remove the public mon- eys from the Bank, and deposit with State Banks, which refusing to do, the Secretary was displaced and Roger B. Taney appointed to the place, who complied with the order, for which action the President was censured by resolution of Congress, on the ground of alleged usurpa- tion of power. The deposits not only were so changed, but the local Banks were given to understand that they were expected through their issues of notes and liberality in accommo- dations, to make good the deficiency to be caused by the withdrawal of the United States Bank and its circulation. The issne thus raised, as to both the currency and the deposit of the public moneys, at once came to be, as for many years it continued, the main ground for party division in the country. Second to this, was the question of the disposal of pro- ceeds of sales of the public lands-the Dem- ocrats insisting that these should be treated as public funds, and be used accordingly, while the Whigs claimed that the lands rightfully be- longed to the States, in their separate capacity,

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History of the city of Toledo and Lucas County, Ohio, Part 61

Author: Waggoner, Clark, 1820-1903 Publication date: 1888 Publisher: New York and Toledo : Munsell & Company Number of Pages: 1408

Author: Waggoner, Clark, 1820-1903
Publication date: 1888
Publisher: New York and Toledo : Munsell & Company
Number of Pages: 1408