USA > Pennsylvania > Allegheny County > Pittsburgh > Standard history of Pittsburg, Pennsylvania > Part 48
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On November 4, 1847, a beautiful flag was presented to the company of Captain Rowley by P. C. Shannon, on behalf of a number of ladies. Mr. Cunningham of Beaver replied on behalf of the company (1). On November 9, 1847, the company of Captain Rowley left Pittsburg on the steamer "Diadem" for New Orleans. Several members deserted at the moment of departure (m).
Captain Porter of the Hibernian Grcens returned in November, 1847, to recruit for his company. After the month of March, in 1847, scarcely a week elapsed without the report of news that some Pittsburgers in the field had been wounded or had died of disease or wounds, or had been shot dead. Numerous instances of individual heroism were recountcd. Colonel Jefferson Davis passed through Pittsburg in November, 1847, on his way to Wash- ington. He still suffered from the wounds received at Buena Vista. The gallant action of Captain Herron at Puebla in vanquishing a band of rancheros after they had speared fifteen of his men, himself included; and the daring of Lieutenant Denny and Private Stubbins in first planting the American flag on the enemy's works at Hunanantla, were specially noticed (n).
"The Jackson Blucs .- Our company, whose ranks were filled with as clever fellows and true men as ever wore uniforms, now parade but twenty- seven men out of ninety-seven at their departure from Pittsburg" (o).
At the action of the Castle of Pcrotc the First Pennsylvania Regiment lost twenty-five in killed and wounded and the Second lost fifty-one. In the battle at the gates of the City of Mexico the Hibernian Greens, commanded by Lieutenant Rankin, fought continuously for three days without food and displayed great hardihood and bravery. The Pittsburg volunteers, without exception, bore themselves with great gallantry in the series of battles which preceded the capture of the Mexican capital.
(k) Post, November 17, 1847.
(m) Post, November 10, 1847.
(1) Post, November 6, 1847.
(n) Commercial Journal, November, 1847.
(o) Commercial Journal, November 23, 1847.
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HISTORY OF PITTSBURG.
On December 18, 1847, the body of Colonel W. B. Roberts arrived in charge of Lieutenant Kane. The remains were received by a large procession in a severe storm of rain and snow and cared for until evening and then dis- patched to Brownsville by boat.
"The Second Pennsylvania Regiment .- Lieutenant Rankin of the Second Pennsylvania Regiment, in a letter to some friends in Pittsburg, mentions the ravages which war has made in that regiment. Of 900 men who left Pitts- burg but one year ago, 300 cannot now be mustered" (p).
On Friday, May 12, 1848, the entire community turned out to pay funeral honors to a number of dead who had been brought from Mexico, and to Commodore Joshua Barney, a Revolutionary soldier, whose body was exhumed from the old cemetery where it had reposed since 1818 (x). The city officials, Masons, Odd Fellows, United Sons of America (a new order here), firemen, militia, a squad of Jackson Blues under Captain Denny, another of the Duquesne Grays under Lieutenant Ankrim, government mounted troops, soldiers of the war of 1812, all under the command of Colonel Trovillo, followed by a large concourse of citizens, formed the funeral cortege and marched to the cemetery. The pallbearers of Commodore Joshua Barney were General William Wilkins, Robert Orr, John Neal, John M. Davis, James Watson and J. Large and Colonels N. B. Craig and William Croghan. The pallbearers of Lieutenant Parker were Captains Birmingham, Wilson McCandless, J. B. Guthrie, G. S. Wilkins, Alexander Hay and Lieutenant J. M. D. Crossan and Messrs. John D. Davis and F. O. Kay; and of S. D. Sewell members of the Old Grays and others. Wilson McCandless delivered the funeral oration at the cemetery (q).
In June, 1848, at a meeting of the citizens, a committee was appointed to raise means to bring back the remains of those of the Hibernian Greens who had died in Mexico. A little later came the news that the Pennsylvania regi- ments were coming home-the First by the way of Philadelphia and the Second to Pittsburg, to be paid off and discharged. Recruiting was still in active progress here for the Regular Army, owing to the needs of that branch of the service due to the discharge of so many in the volunteer department. "Major St. Clair Denny commenced paying off the volunteers yesterday in the warehouse of John Little Esq., on Third Street. The brave fellows received their well-earned pay in gold and silver" (r).
Great preparations were made to receive the volunteers on their return home. It was determined to give them such a welcome as would be ever memorable in the annals of the cities. As each detachment was received it was welcomed with intense enthusiasm, but the formal reception was post- poned until all or nearly all had returned.
"The Volunteers .- At an early hour yesterday morning the whole Monon- gahela wharf, from Smithfield Street to the Point, was crowded with masses of men, women and children, all impatient for the arrival of our gallant vol- unteers. At half past eleven the 'John Hancock' and the 'Taglioni' hove in sight; the former with the Maryland Regiment on board, the latter with seven companies of the Second Pennsylvania Regiment. From the time the boats came in sight until 12 o'clock, the time the boats touched the wharf, the air was rent with shouts, the ringing of bells, the roar of artillery and loud strains of martial music; but when the boats neared the landing, at the
(p) Niles National Register, December 18, 1847.
(x) Commodore Barney particularly distinguished himself during the war of 1812 by capturing, after a hot engagement, the English sloop "Gen. Monk," carrying eighteen guns. He commanded the "Hyder Ali" of sixteen guns. Edward Scull, brother of John Scull, editor of the Gazette, fought under Commodore Barney in this engagement.
(q) Post, May, 1848.
(r) Commercial Journal, July 14, 1848. ,
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HISTORY OF PITTSBURG.
foot of Market Street, such shouts rent the air as must have made the soldiers feel doubly assured of their warm welcome home. Among the companies was the Irish corps, commanded by Captain Porter, raised in this city. They were commanded yesterday by Lieutenant Rankin, Captain Porter being now at Fort Mifflin, Pennsylvania. These brave fellows (the Irish Greens) behaved most gallantly in the war. The Iron City is proud of them, and cordially welcomes them to their homes again. The disembarkation was effected in good order and without accident. The regiments formed by companies, the Pennsylvanians in front, and marched to the corner of Wood and Water, where they were addressed by Judge Wilkins with all the commanding eloquence anticipated from that veteran orator. Colonels Hughes and Geary replied. After the delivery of the oration the procession marched through the city (according to the published order of the procession) and then dispersed. The weather was exceedingly fine and the ceremonics of the day passed off with the utmost eclat. The soldiers looked exceedingly well; most of them looked sunburnt and weather-beaten, but as though the fatigues of the campaign had rather improved than undermined their constitu- tions" (s).
"The Volunteers .- Saturday was a great day in Pittsburg .- From early dawn until late at night our streets were thronged with thousands of men, women and children. During Friday immense numbers arrived from the country and the adjoining counties-all anxious to witness the reception which our brave soldiers would receive from their friends and fellow citizens. Thc morn- ing broke clear and beautiful. The cannon commenced firing at an early hour and continued through the day. It was expected that the troops would arrive at 10 o'clock a. m., but owing to the detention-as it proved, event- ually, in vain-for the last detachment, they did not arrive until a few minutes before 5 p. m. During the entire day the wharf was crowded from the Point to the Monongahela Bridge; while the windows, and the housetops, and the decks of the fleet of steamboats, were thronged with eager thousands, all straining their eyes for the wished-for boats. At last their near approach to the city was announced by the rapid discharge of artillery, and in an instant the air rang with the merry peal of a thousand bells, from steamboats, engine- houses and churches; and when the boats turned the bend and came in plain sight the earth shook with the deep roar of the great guns, and cheer after cheer rose by a common impulse from the numberless spectators. Never had we looked upon a more glorious spectacle than that presented as the vessels passed up along the wharf to the landing assigned them. The firemen, in their brilliant dresses, the hundreds of flags and streamers, the ladies, the thousands of men, the thunder of artillery, and the loud strains of martial music floating over all, combined to make a pageant such as is rarely wit- nessed. The volunteers answered with hearty checrs the shouts of the multi- tude, and more than once a loud, joyful cry announced the recognition of a friend among the soldiers by someone on the bank. The disembarkation was effected in good order and without accident, when the troops were formed in line and marched up the wharf to the corner of Market and Water streets, where they were addressed by Judge Wilkins. Lieutenant-Colonel Black responded in his usual graceful and feeling manner. The Colonel looked remarkably well, and his face lighted up with enthusiasm as he spoke, and felt with what cordiality he was welcomed back from the fields where he had earned for himself so glorious a name. After the conclusion of the speechics the procession commenced its march."
. (s) Commercial Journal, July II, 1848.
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HISTORY OF PITTSBURG.
" ORDER OF PROCESSION. Chief Marshal-John Birmingham. Aids: Hon. S. Jones, J. Cust Blair, Dr. William Gore, Dr. George S. Hays, Joseph C. McKibbin, C. T. Ihmsen. Assistant Marshals: John Eakin, W. B. Mowry, R. P. Tanner. White's Brass Band. Major-General Robert Patterson, Lieutenant-Colonel J. J. Ambercrombie, and Aids to General Patterson. First Pennsylvania Regiment. Second Pennsylvania Regiment. Officers and Soldiers of the Mexican War now residing in this county. Officers and Soldiers of the War of 1812. Sick and Disabled Soldiers (in carriages). Committee of Arrangements. Orator of the Day-Honorable W. Wilkins. Committee of Reception. Colonel Elijah Trovillo-Commandant Military Escort. Colonel Joseph E. McCabe-Regiment of Cavalry and Infantry. Captain Verner's Infantry Corps. Captain Ross' Infantry Corps. Captain McMaster's Infantry Corps. Captain Eakin's Forks Cavalry, to take position with Colonel McCabe's Regiment. Military Companies Unreported. Sligo Brass Band. Marshal-W. M. Edgar. Assistant Marshals: W. D. Graham, M. Knox, J. S. Shee. Firemen of Pittsburg. Firemen of Allegheny. Firemen of Birmingham. Firemen of Lawrenceville. Firemen of South Pittsburg. Judges of the several Courts. Members of the various professions. German Band. Marshals: H. S. Megraw, John Rippey, W. Simms. Masonic Fraternity.
Temperance Society. Odd Fellows Association. Trade Association. Sons of Temperance.
President Dyer, Faculty and Students of the Western University of Pennsylvania. Marshals: John Morrison, J. B. Mitchell, John Smith. President, Faculty and Students of Duquesne College. President and Members of the Philological Institute. President and Members of the William Wirt Institute. President and Members of the Franklin Institute. President and Members of the Baldwin Institute. Music. Marshals: M. Swartzwelder, Ephraim Jones, Jr., R. B. Butler, Thomas Donnelly. Mayor, Aldermen and Councils of the City of Pittsburg. Mayor, Aldermen and Councils of the City of Allegheny, Civil Authorities: Birmingham, Lawrenceville, Manchester, South Pittsburg, Sharpsburg. Unreported Associations."
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HISTORY OF PITTSBURG.
"As the column moved along the streets the windows and housetops were crowded, and many a recognition passed between the brave fellows in the ranks and their wives, sweethearts and friends, who eagerly pressed on the line of march. We have never seen a finer looking set of men; and we never felt prouder of our country than in looking upon the bronzed and manly fellows whose daring valor has covered their State and their regiment with glory. In the procession was the glorious ensign of our Commonwealth, torn by numberless shots, and bearing uncquivocal testimonials of the conflicts in which it has been borne. A Mexican flag, captured from the enemy, was also carried in the procession. The marshal, his aids and his assistants deserve the highest praisc for the patience and care with which they carried out their arrangements. Everything passed off as designed, the only drawback to the universal joy on the occasion being the absence of the three companies, the Duquesne Grays among them, on board the "Jewess," which had not.arrived" (t). Another large procession went to the Allegeny Cemetery on July 21st, on the occasion of the burial of ten young men of the Pittsburg companies, who had died in Mexico. They were given a military escort and burial. It was stated that when Captain John Herron left for the war he was asked by his fellow citizens to accept a sword, but replied, "No, not now; but if I live to come back, and you think I have deserved it, then give me a sword." Late in July, 1848, he was formally presented with a magnificent sword, sash, belt and epaulets at a public meeting held for that purpose. The Duquesne Grays brought home with them a young Mexican girl who had nursed their sick and wounded and who would have fared badly therefor if left behind. She was seventeen years old and very pretty. An association was formed to secure means and erect a suitable monument in honor of the Pittsburg boys who had given their lives to their country. J. R. McClintock was its first president. The following shows the names of the members of the Grays and the Blues when they left for Mexico: Duquesne Grays .- Captain John Herron, returned in good health; William Trovillo, discharged at Vera Cruz; W. J. Ankrim, ordered on recruiting service from Perote; J. W. Hague, discharged in Mexico; J. D. McIlroy, discharged in Puebla; J. G. Robinson, discharged at Lobos Island and since dead; Robert Anderson, elected lieutenant in Mexico, and returned; C. G. McLelland, joined the Regular Army at Vera Cruz; J. W. Kinkead, discharged at New Orleans; D. S. McClintock, returned in good health; C. W. Hambright, ordered on recruiting service from Perote; J. K. Gardner, returned in good health; R. Cunningham, discharged at Vera Cruz; H. B. Alward, died at Puebla; C. W. Blakeman, discharged at Puebla; J. Baker, discharged at Vera Cruz; W. Burns, returned in good health; H. Batcs, died at Perote; H. Bennet, returned in good health; D. Clammer, returned in good health; Jamcs Calhoun, returned in good health; J. H. Cummins, trans- ferred to the Second Regiment; R. D. Collins, discharged at Vera Cruz; I. Seymour, left at Vera Cruz, fate unknown; Thomas Davis, discharged; John Dalzell, discharged at Vera Cruz; R. C. Drum, joined the Regular Army at Vera Cruz; Jonathan Downs, died at Pucbla; Johnson Elliott, discharged at Puebla; I. S. Ebbert, returned in bad health; Ralph Frost, returned in good health; T. B. Furnan, returned in good health; S. A. Glenn, deserted at New Orleans; G. S. Glenn, returned in good health; Charles Glenn was at Vera Cruz, Cerro Gordo, Jalapa, Perote, Puebla, came home to recruit; J. Gil- christ, killed at Puebla; Charles Hoffman, returned in good health; J. H. Herod, killed at Puebla; J. S. Hamilton, returned in good health; F. H. Jones, killed at Puebla; F. B. Johns, killed at Puebla; F. J. Kerr, returned in good health; Pliny Kelly, returned in good health; T. C. M. Kelly, died
(t) Commercial Journal, July 19, 1848.
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HISTORY OF PITTSBURG.
at Vera Cruz; H. Krutzelman, killed at Puebla; Joseph Keenan, discharged at Vera Cruz; V. Knapp, discharged at Vera Cruz; John Longstaff, returned in good health; Aaron Lovitt, returned in good health; B. G. Leeper, returned in good health; Seth Loomis, died at New Orleans; J. H. Mundy, discharged at Vera Cruz; A. Musgrave, died at Perote; W. F. Mann, elected lieutenant in Mexico, and returned in good health; D. A. Mitchell, died at Perote; R. F. Miller, discharged at Mexico; A. E. Marshall, returned in good health; Norton McGiffin, returned in good health; James McDowell, died at Puebla; J. McMinn, died at Perote; James Noble, died at Perote; J. S. Negley, returned in good health; James Gray, discharged at New Orleans; T. R. Owens, died at Perote; John Polland, returned in good health; H. C. Patrick, returned in good health; J. W. Parke, discharged at Puebla; W. H. Potter, returned in good health; James Phillips, kiled at Puebla; W. Phillips, kiled at Puebla; W. Phillips, Jr., discharged at Vera Cruz; O. H. Rippy, returned in good health; George Reams, discharged at Perote; Charles Smith, deserted at New Orleans; Robert Smith, drowned at Natchez, on his return; S. D. Sewell, killed at. Puebla; S. C. Smith, deserted at New Orleans; W. Schmetz, killed at Puebla; J. Spen- cer, died at Jalapa; F. J. Thomas, returned in good health; T. Thornburgh, discharged at Puebla; S. Traver, killed at Puebla; D. S. Vernoy, killed at Puebla; F. Vandyke, Jr., killed at Puebla; J. Wilson, killed at Puebla; B. F. Woods, deserted at Jalapa; W. Winebiddle, returned in good health; S. Sloop, joined at Vera Cruz, and discharged at Puebla.
Jackson Blues .- Captain A. Hay, discharged at Vera Cruz, now in this city; J. O'H. Denny, discharged at the City of Mexico, now in this city; T. A. Rowley, discharged at Vera Cruz; W. A. Charlton, elected captain in City of Mexico, returned in good health; A. Ferguson, elected first lieutenant in Jalapa, returned in good health; J. Chalfant, discharged at Vera Cruz; H. Bateman, died at Perote; R. B. Young, discharged at Vera Cruz; A. P. Stuart, returned in good health; R. McKee, died at Puebla; H. J. Kennedy, died at City of Mexico; C. E. Bruton, died about ten miles above Puebla; William Byerly, returned in good health; George Miller, deserted at New Orleans; J. Armstrong, discharged at Vera Cruz, and died on the way home; James Armstrong, died at Jalapa; Thomas Alexander, returned in good health; E. Barker, died at Puebla; Charles Brison, returned in good health; S. D. Brown, returned in good health; W. S. Barker, discharged at Jalapa; Fred- erick Bowman, died at Perote Castle; A. G. Beebee, discharged at Puebla; J. Bowden, discharged at Puebla; William Blakely, elected second lieutenant in City of Mexico, and returned in good health; Samuel Black, died at Puebla; Miles Brown, returned not in good health; F. H. Cooley, returned in good health; John Condo, discharged at City of Mexico; J. Dolan, returned in good health; A. McDonald, returned in good health; E. Edwards, returned in good health, but wounded in left hand; Elias Faust, returned in good health; F. Fannemiller, returned in good health; George Fengle, discharged at Puebla, and died since his return; D. Guyer, discharged at Vera Cruz; John Griffith, deserted at City of Mexico on the 2d of March and since joined the Louisiana Dragoons; W. Graham, discharged at Vera Cruz; John Gibner, leturned in good health; S. Hamilton, left City of Mexico, but fate unknown -was either killed or taken prisoner; I. C. Hall, returned in good health; D. Hawkins, discharged at Vera Cruz; J. H. Hover, returned in good health; F. Hointen, discharged at Jalapa; D. Hager, discharged at Vera Cruz; John Hines, taken from company at Vera Cruz as a deserter from the Regular Army; William Kennedy, returned in good health; T. Kain, died at Puebla; J. Krine, returned in good health; William Layburn, returned in good health; J. Lynbart, died at Puebla, after being shot in the breast at Puebla; J. Mc-
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HISTORY OF PITTSBURG.
Cutcheon, discharged at Puebla; C. Mowry, discharged at Puebla; D. McMur- trie, discharged at Perote; M. Mason, returned, body wounded and burned with powder very badly; T. McIntyre, returned in good health; B. McNoley, returned in good health; J. McCaffrey, died at Puebla; William McDermott, returned in good health; John M. Needs, deserted before embarking; T. B. Ogden, discharged at Vera Cruz; J. Parker, returned in good health; J. Regan, returned in good health; C. Ribald, died at Vera Cruz; G. Richeberger, dis- charged at Puebla; James T. Shannon, returned in good health; H. M. Shaw, died at Jalapa; H. Skiles, discharged at Vera Cruz; J. Sproat, discharged at Vera Cruz; J. Spitzley, died at Jalapa; John Shaffer, transferred to Second Dragoons; J. Savage, returned in good health; James B. Wright, died at Puebla; William Sullivan, died at Puebla; G. Wilhelm, died at Perote; R. Wilson, returned in good health; J. Walker, returned in good health; Robert Woods, elected second lieutenant in Perote; Otis Young, discharged at Vera Cruz; Eli Young, discharged at Vera Cruz; S. B. Young, discharged at Vera Cruz; C. F. Yohst, returned in good health; James Harmon, joined at New Orleans, a native of Steubenville, returned in good health; Charles McDer- mott, joined at New Orleans-is a Pittsburger-returned in good health; James F. Morton, returned in good health; J. Barton, died at Puebla; W. H. Worthington, returned in good health; Bernard Hose, died at Perote; Isaac Wright, discharged at Vera Cruz (u).
The war with Mexico demonstrated the immense importance of Pitts- burg as a depot for military stores and munitions of war. General Scott threw Pittsburg-made shells into San Juan, and Duncan's batteries played with Pittsburg grape on Mexican columns. Huger fired Pittsburg battering cannon, and its floating fortresses, with the same equipment, made havoc in the cities and towns on the coast of the gulf. Muskets for the line, rifles for the light infantry, pistols and sabers for the dragoons, with cartridges for all, were supplied from Pittsburg throughout the entire period of that bloody and obstinately contested struggle. The following is an abstract of ordnance stores fabricated at Allegheny Arsenal from the Ist of May, 1846, to June 30, 1848, or during the Mexican War:
5 twenty-four pound stock-trial size carriages complete.
2 eighteen-pound stock-trial size carriages complete.
7 twelve-pound stock-trial field carriages complete.
16 caissons.
73 traveling forges, with tools, etc., complete.
12 battery wagons, with tools, etc., complete.
49 thirty two-pound barbette carriages complete.
54 twenty-four-pound barbette carriages complete. 17 twelve-pound blockhouse carriages complete.
44,8II sets of infantry accouterments complete.
2,138 sets of rifle accouterments complete.
14,218 sets of cavalry accouterments complete.
4,152,210 musket ball cartridges.
797,280 rifle ball cartridges.
549,760 carbine ball cartridges.
546,280 pistol ball cartridges.
'3,000 ten-inch cartridge bags.
27,750 ten-inch fuses, fitted.
17,893 eight-inch fuses, fitted.
11,000 priming tubes, fitted.
(u) Collected from various issues of the newspapers published in November, 1848.
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HISTORY OF PITTSBURG.
21,242 pounds twenty-four-pound canister shot.
24,280 pounds twelve-pound canister shot.
7,406 pounds six-pound canister shot.
5,662 rounds of fixed ammunition, various calibers.
2,000 canister bottoms, iron.
508 sets of artillery harness for two lead horses.
264 sets of artillery harness for two wheel horses.
IO sets of mule harness, four-mule sets.
There were employed by the day at the arsenal during a portion of the period above given, 373 persons; disbursed at the arsenal during the same period, $364,653.42 (v).
(v) Post and Gazette, 1848.
CHAPTER XVIII.
BANKING CONTINUED-GREAT INCREASE IN ISSUES-PRIVATE INSTITUTIONS-MUNICI- PAL BILLS-CIRCULATION AND DEPOSITS-VALUE OF STOCK-DEMANDS FOR GREATER BANKING CAPITAL-GREAT INCONVENIENCE OF THE OLD SYSTEM-PAR FUNDS- THE PANIC OF 1854-5-NEW BANKS ORGANIZED-GREAT INCREASE IN BANKING STRENGTH-RUSH FOR THE STOCK OF CERTAIN INSTITUTIONS-DOLLAR SAVINGS BANK-STOCK VALUATIONS-LEGAL RESTRICTIONS-THE PANIC OF 1857- SUSPENSION OF SPECIE PAYMENTS-COMPULSORY RESUMPTION-QUESTION- ABLE BANKING METHODS-PRIVATE AND SAVING BANKS-TAXATION UNSUC- CESSFULLY OPPOSED - THE SUSPENSION OF 1860 -LAW FORFEITING CHARTERS AMENDED - MEETINGS TO SECURE CURRENCY REFORM - CHAOS AFTER THE FALL OF FORT SUMTER-RESUMPTION OF 1861- SUSPENSION OF 1861-WILD FLUCTUATIONS OF GOLD-RELIEF LAWS -LOYALTY OF THE BANKS-SALES OF GOVERNMENT BONDS-THE ISSUES OF THE ASSOCIATION OF BUTCHERS-GOVERNMENT FRAC- TIONAL CURRENCY RECEIVED-OLD BANKERS ALARMED-CON- FLICT OF STATE AND NATIONAL BANKS-GOOD TIMES-WON- DERFUL SUCCESS OF THE NATIONAL ISSUES-POLICIES OF THE STATE INSTITUTIONS-COMPARATIVE STATISTICS-SUBSCRIP- TIONS TO SANITARY FAIR-CONVERSION OF STATE INTO NATIONAL INSTITUTIONS-RETIREMENT OF STATE ISSUES.
The period from 1842 to 1854 was as propitious and bright for banking enterprises as the period from 1831 to 1842 had been dismal and forbidding The "monster" was at last dead, and the anti-bank coterie were disposed to be open-hearted. Private bankers, associations, companies, individuals, cities, boroughs and brokers, with almost reckless prodigality, made haste to issue innumerable sorts of "promises to pay," which for years, if the local authorities of that day may be believed, served a purpose of great usefulness in all the avenues of commerce. It was said of local banks: "Their statements are the evidence of the solidity with which business is conducted in this city. . It is evident from the state of our banks that they have not been able to fill their lines of discount so as to make their available capitals fully profitable. At no time, probably, since they were chartered, has it been easier to get accommodations than at the present; but they are managed with a caution which, at times, appears to border on timidity" (a).
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