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THE OLD STONE BANK HISTORY OF RHODE ISLAND
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PUBLISHED IN COMMEMORATION OF THE ONE HUNDRED AND TENTH ANNIVERSARY OF THE FOUNDING OF THE
PROVIDENCE INSTITUTION FOR SAVINGS
2500
ALLEN COUNTY PUBLIC LIBRARY 3 1833 01067 5426
REYNOLDS HISTORICAL GENEALOGY COLLECTION
Gc 974.5 H130 v.1 2233743
VITUTION FOR SAVINOSA
"THE OLD STONE BANKY
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THE MAIN BANK BUILDING OF THE PROVIDENCE INSTITUTION FOR SAVINGS, 86 SOUTH MAIN STREET, PROVIDENCE, R. I. .. ERECTED IN 1896.
"THE OLD STONE BANK" HISTORY OF RHODE ISLAND
"THE OLD STONE BANK" HISTORY OF RHODE ISLAND
PRESENTED BY PROVIDENCE INSTITUTION FOR SAVINGS 86 SOUTH MAIN STREET PROVIDENCE, RHODE ISLAND
1929
OLNEYVILLE BRANCH: 1917-21 WESTMINSTER STREET Olneyville Square
EMPIRE-ABORN BRANCH: EMPIRE AND ABORN STREETS Between Westminster and Washington Streets
Allen County Public Library Ft. Wayne, Indiana
PREPARED AND PRINTED BY HALEY & SYKES CO. PROVIDENCE, RHODE ISLAND
2233743 FOREWORD
E ARLY in the year 1927 "The Old Stone Bank" initiated a series of newspaper advertisements dealing with historical events and the glorious traditions which have made the smallest State in the Union one of the richest in historical background. Events in Rhode Island history were featured in illustration and description, and soon persons of all ages came to appreciate that these words and pictures were well worth their attention.
It was suggested that these incidents be written about more fully, the facts carefully assembled, and presented on the radio as a regular weekly feature. Thus was conceived a unique character, "The Rhode Island Historian," who, from September to June, relates to his unseen audiences stories about interesting figures, historic events and traditions concerning which facts have been obtained from such sources as early histories, old documents, clippings, records and tracts.
These radio talks have been printed and the mailing list of those who have written requesting copies of the booklets includes the names of thousands who have heard the familiar voice of "The Rhode Island Historian." The edu- cational and historical value of these sketches has so appealed to those interested in Rhode Island history that "The Old Stone Bank" now presents this complete volume of the weekly historical recitals.
Uninteresting descriptions, unimportant dates and dry statistics have been eliminated in the preparation of this brief review of important events and facts, arranged, as nearly as possible, in chronological order. To those who love their native or adopted State, "The Old Stone Bank" presents these chapters in that never ending romance of bravery, adventure, ambition and achievement - Rhode Island History.
INDEX
RHODE ISLAND HISTORY
PAGE 11
PREHISTORIC RHODE ISLAND
12
A SAGA OF RHODE ISLAND
14
THE OLD STONE MILL
16
INDIAN ATHLETICS
ROGER WILLIAMS .
18 19 22
THE OLD PIDGE TAVERN
THE GREAT SWAMP FIGHT
22
CAPTAIN MICHAEL PIERCE
24 26
THE WANTONS OF RHODE ISLAND
PIRATICAL ATTACKS ON BLOCK ISLAND
28
PROVIDENCE COMMERCIAL BEGINNINGS
30
ESEK HOPKINS
32
GOVERNORS JOHN AND SAMUEL CRANSTON
34 36
THE COLONY SLOOP "TARTAR"
NATHANAEL GREENE
38
CATHERINE LITTLEFIELD GREENE
40
STEPHEN HOPKINS
45
LOTTERIES IN RHODE ISLAND
48
JEMIMA WILKINSON
50
SIMEON POTTER
52
GILBERT STUART
54
CAPTAIN STEPHEN OLNEY
56
THE EARLY RHODE ISLAND STAGE
58
THE "GASPEE" AFFAIR .
60
THE FIRST BAPTIST CHURCH
62
THE PROVIDENCE TEA PARTY .
64
THE FLAG
65
THE SENSATIONAL CAPTURE OF GENERAL PRESCOTT
67
THE BATTLE OF RHODE ISLAND
70
COUNT ROCHAMBEAU
71
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PAGE 73
THE HOME OF BETSY WILLIAMS .
PROVIDENCE STAGE AFTER THE REVOLUTION
75
CAPTAIN ROBERT GRAY .
THE FIRST STEAMBOAT .
THE ARCADE
MOSES BROWN
'TWAS CHRISTMAS EVE .
THOMAS SMITH WEBB .
THE BRIG "YANKEE"
COMMODORE OLIVER HAZARD PERRY
THE GREAT GALE OF 1815
PROVIDENCE IN 1819
CAPITAL PUNISHMENT
THE BURNING OF THE "LEXINGTON"
EDGAR ALLEN POE
GENERAL AMBROSE E. BURNSIDE
103
COLONEL JOHN S. SLOCUM
105
THE SECOND RHODE ISLAND IN ACTION
107
TORCHLIGHTS AND TRANSPARENCIES
109
MOWRY & GOFF'S SCHOOL
111
FAMOUS FEBRUARY FIRES
113
ONE OF THE CITY'S FIRST FIRE ALARM BELLS
· 115
RHODE ISLAND IN THE WORLD WAR
· 117
.
77 78 80 81 83 86 89
91 92 94 95
97 99 101
ZEPPELIN'S FIRST FLIGHT
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PROVIDENCE INSTITUTION FOR SAVINGS
TT. : IS characteristic of American initiative that actual savings banking was first undertaken in the United States, although to Europe-and more particularly to Switzerland-belongs the distinction of inspiring the establishment of such institutions.
In 1816 James Savage succeeded in persuading the Massachusetts Legislature to allow his bank to incorporate as a mutual savings society. At that time the financial situation in this new country was extremely chaotic, but order began to evolve out of confusion soon after the establishment of the Second Bank of the United States in 1816.
Although the first move to establish a mutual bank in a neighboring State had been undertaken earlier, it was not until 1819, when financial tension was somewhat relieved, that a group of public-spirited Rhode Island citizens, believing that the proper time had arrived, met in October of that year to formulate plans for the establishment in Providence of a bank which, acting as a community servant, would afford the people in this locality a place for the safe keeping of their savings with the additional advan- tage of accumulating interest. Accordingly, in November, 1819, the first savings bank in Providence commenced business under the name of the Providence Institution for Savings.
Among the founders were many of those whose names are listed in Providence history as men honored for their accomplishments in the interest of public service. The following officers: Thomas P. Ives, First President; Thomas L. Halsey, First Vice President; Obadiah Brown, Second Vice President; James Burrill, Jr., Third Vice President; and Trustees Nicholas Brown, Philip Martin, William Wilkinson, John Perrin, Benjamin Aborn, James Petty, Samuel G. Arnold, William Blodget, Charles Dyer, Zechariah Allen, Josiah Whitaker, and Dexter Thurber, were held in the highest respect and regard throughout the city as men of character and public spirit. The first meeting of this Board was held at the office of the Washington Insur- ance Company November 4, 1819, and the doors of the bank opened November 20th.
Many of the founders and officers of the Institution were interested in shipping and trading. They built and owned ships which sailed on every sea, and traded in every port. There are few names associated with the maritime interests of Providence but may be found on the list of the founders of "The Old Stone Bank" and their descend- ants. Position and wealth had already been attained by them, and it is obvious that this mutual savings bank was established because of a sense of altruism, and not for the purpose of self gain. Their high ideals are perhaps best expressed in a statement made at the time of incorporation. In part it is as follows:
". . Many frugal and industrious persons have laid by small sums which they intended as a relief in sickness, or in old age; but from the failure or death of those in whose hands they placed it, they have lost the whole, or if they have received it again, it has been without interest. In this institution
such persons will find a safe place of deposit, and have the satisfaction to know that it is constantly increasing."
At first "The Old Stone Bank" received deposits on but one day each week. This was Saturday, or pay day, when the bank was open from 12:30 until 2:00 P. M. As the bank proved its value to the community, it was gradually obliged to keep regular hours for the convenience of depositors, and by 1842 the resources of some 2100 depositors had grown to $300,000. Forty years later, the number had increased to nearly 28,000, and deposits to over $11,000,000.
The old "Providence Bank" (a national bank incorporated in 1791) was, in a way, the parent of this mutual institution, for it was in its lower floor that the savings bank initiated actual operations.
A constantly growing volume of business influenced the erection, in 1854, of a building for the exclusive purposes of the bank at 86 South Main Street, and further expansion lead to the erection, in 1898, of the present building, now serving as the main office.
In 1925, a branch was opened in quarters at 186 Washington Street, which so well justified its inception that four years later a modern banking building was erected on Empire and Aborn Streets, in celebration of the 110th Anniversary of the founding of this Institution.
In 1926 a second branch office was established in Olneyville, affording to the citizens of that industrious and progressive locality mutual savings bank facilities. The busi- ness of the bank is carried on in a building of modern construction and design, especially equipped for the exclusive needs of depositors in the Olneyville section.
On its Anniversary the resources of this mutual savings bank have grown, by the steady accumulations of thrifty persons, to figures far beyond the imagination of its founders whom it honors. Always a ready aid to those it serves, both in times of prosperity and distress, this Institution has endeavored to carry out the ideals with which it was founded.
With a record of economic and social service to these Providence Plantations, and with even greater facilities for service in the future, the Providence Institution for Savings, popularly known as "The Old Stone Bank," will continue to encourage habits of economy among those for whose benefit it was established so many years ago.
RHODE ISLAND HISTORY
Tris a fact that information and literature about the history of Rhode Island are in constant demand in every section of the country. Writers of historical novels, stu- dents of history, newspaper men, lovers of the ancient and antique, all look upon the annals of this tiny State as a fertile field for research, study and entertainment. This is true partly because in Rhode Island and communities nearby began the history of the nation. It was here that the bold Vikings first tasted the sweet juices of luscious fruits; it was here that the exiled Roger Williams found a true haven of friendship where men might live in peace and com- fort apart from the vicious tongues of sel- fish and narrow-minded neighbors; from this land sailed daring adventurers who laid the foundations of commerce and interna- tional good-will; from these pleasant farms and peaceful hamlets have gone countless heroes of war and peace; art, science, in- dustry and law have counted among their outstanding leaders, men and women who boasted of their Rhode Island origin.
But, beyond that, it is inherent in man to love history, particularly the true history of his immediate surroundings. History is a never-ending panorama of men, women, and children whose destinies are shaped by circumstances, ambitions and emotions common to us all. We are all makers of history and children of history. Though we do not worship our ancestors as do the ori- entals, yet decisions of the present are guid- ed by the experiences of our predecessors. We are forever on the ascent looking back- word at the rungs of the ladder upon which we mounted and upward to the bright fields of the future.
Crumbling castles, grass-covered ram- parts, andirons, Indian arrow-heads, old coins, gruesome battles are some of the countless stage-props that help build the setting for the play whose scenes live only on the pages of history, and in the lively imaginations of all of us who live, love and aspire.
Furthermore, the study of history is a
study in contrasts. We all like to compare men and events of centuries gone by with persons and affairs as we know them today. We all enjoy reading copies of newspapers published a century ago; the craze for an- tiques is growing, interest in genealogy is certainly not decreasing. Residents of this historic old city and State walk and live 'mid the time-honored landmarks of other ages. Colonial mansions, ancient taverns, ivy-covered walls, rusty cannon, shady churchyards, lofty spires, and old belfries are the daily reminders of men and days in Rhode Island that the passing of time can never erase from memory.
Who can pass the old Mansion House that still stands in all its dilapidated digni- ty on Benefit Street just behind the old State House and not paint a mental picture of the gay occasion when General Wash- ington honored the establishment with his presence during his historic visit to this city? Who can pass through the portals of the old State House and not picture, for a moment, august General Lafayette bow- ing low to the people gathered outside to greet him? Who can visit the magnificent John Brown House on Power Street and not imagine that wealthy merchant sitting at his richly carved Chippendale desk signing the papers that would send some fast-sail- ing merchantman away to the distant East Indies? Who can wander through the lower rooms of old University Hall and not see visions of tired French troopers amusing themselves with song and refresh- ment, here in this strange land?
And, who can view the lofty and beauti- ful spire of the First Baptist Church on North Main Street and not think of that dark day in September, 1815, when the city of Providence was the victim of one of the strangest pranks ever played by Nature? The Second Baptist Church succumbed and went to pieces under the combined force of the wind and waves but the tall spire of the First Baptist Church wavered and bent to the blast, but did not fall.
The Old Stone Mill, that grisly old mys-
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PROVIDENCE INSTITUTION FOR SAVINGS
tery of the past that brings thousands of the curious to the city of Newport each year, tells a mute story of an event hazy in Rhode Island history. The picturesque Pidge Tavern on the way to Pawtucket still has that delightful air of roadside hospitality that made it a welcome rendezvous for the weary traveler journeying by coach from New York to Boston. Those obscure pray- ing mounds scattered throughout the Nar- ragansett country could still be places of worship for the forgotten hordes who looked to the East at a huge stone representing the Sun and to the West at a smaller boulder symbolic of the moon.
Understanding of the events and circum-
stances that led to the present is essential to the complete understanding of the respon- sibilities of citizenship. The study of civil government and of history are identical, happily so for us since Rhode Island history is found to be highly entertaining.
The roots of the present lie deep in the past, and nothing in the past is dead to the man who would learn how the present came to be what it is. Though we must not distort the past in an effort to give meaning to the present, yet we can fully understand to- day only by a study of previous events; and the past, on the other hand, is appreciated only by those who realize the significance of the present.
PREHISTORIC RHODE ISLAND
TT is a severe strain on an ordinary imagin- ation to conceive of Davis Park or Gas- pee Plateau as the jungle homes of the huge mastodons which kept a strange race of prehistoric Rhode Islanders ever on the alert against their depredations. It requires a fertile brain to build a mental picture of a horde of men and women laboring to build upon the pleasant slopes of Narragansett County, towering earth mounds whereon they might hold their religious rituals. Taking our lesson from the unusual to- pography of the State, and basing our con- jectures upon the stories which were told by the Indians who were first encountered by the early white settlers, there is every reason to believe that a race of Sun, Moon and Star worshippers did inhabit these lands before a more powerful tribe of aborigines gained supremacy.
What evidences have we that Druid-like people built that huge mound in Charles- town and others in several parts of the State?
Archaeologists, through study and exca- vation, have discovered much evidence that the southern part of the United States was once inhabited by a semi-civilized people who dwelt in large towns or villages, culti- vated the ground extensively, and lived in wooden houses. They developed a consid- erable degree of skill in the art of shaping and decorating pottery, fashioning metal, carving pipes, statues, etc. For want of a better name archaeologists call these people "mound-builders". They derive the name from the fact that practically all of the in- formation obtainable about them is, or has been, contained in a great number of earth works or mounds located in various parts
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"THE OLD STONE BANK"
of the United States. Just how long ago these mound-builders inhabited North America is problematical, but some scien- tists believe it was as far back as the age of the mastodon (an animal similar to our modern elephant). If so, the time was more than one thousand years ago. This opinion of scientists is based chiefly on the fact that at least one of the mounds discovered was in the form of an elephant, or mastodon.
The relics found in these mounds indicate that the Southerners were much more ad- vanced than the Northerners. The pottery from the northern mounds is crudely shaped, while that in the southern mounds is much more skillfully fashioned, and often more beautifully decorated. The larg- est of these mounds covered 30 or 40 acres, enough to house an entire village. Their general shape varied widely due to a num- ber of causes, such as race, religion, age and purpose. The mounds in the north are generally circular or oval in shape and fre- quently rounded at the top, while those in the Gulf States are distinguished by trun- cated or flat-topped pyramid shapes. It is the shape and nature of the relics found in the southern mounds that have led some sci- entists to advance the theory that the build- ers of the pyramid mounds originally came from the same stock as did the Aztecs of Central America. The Aztecs reached a high degree of semi-civilization prior to their conquest by the Spainards. There is strong evidence in support of this theory in the fact that many of the designs on metal orna- ments found in these American pyramids are very similar to prehistoric designs found in Central America.
Some of the features of the statues taken from the mounds strongly resemble those of Central American statues.
The student of prehistoric data in Rhode Island is confronted with two features of topography that seem to substantiate the theory that these builders of mounds were the immediate predecessors of the race of Indians who welcomed Roger Williams to these shores. First, the presence of mounds similar in size and shape to those excavated in other parts of the country furnishes hypo- thetical evidence of such a period in Rhode Island history.
To build a mound as large as the one in the town of Charlestown, R. I., must have taken a long time. Any nation, however, by concentrating its entire efforts upon a single piece of work and pushing that work to completion, more especially if that work be extensive in plan, will finally accomplish a labor that would seem incredible at first view. When we hear of mounds covering many acres in the west, the smaller one of a few acres in Narragansett appears in- significant beside them, and at the same time the doubt that man could have built it, is si- lenced. Those near Wakefield are perfect cones and have the approach from the northeast. These no doubt were built by man and for a purpose. As one follows down the west side of the pond he will find one or two structures that would answer the same purpose admirably, but which are purely natural. If man did anything to them it was to a very slight degree. The one in Charlestown is by far the largest and best specimen yet found. It consists of a level plain several acres in extent, with conical sides except on the northeast side. This is so plainly artificial and the work of man that even the most skeptical must admit it. It was used as a royal burial ground by the Narragansett Indians.
The second topographic phenomenon that is familiar to all who travel the highways and byways of the State is the spectacle of a great round boulder poised on the flat surface of a larger rock. If there was only one, or if they were scattered without re- gard to order, then one might consider it the work of the glacial period. The order manifested in their arrangement, however, proves that the hand of man is also here. In Druid worship there are always two round boulders, one much larger than the other. Both are placed on the same surface and not a great distance apart. The larger one rep- resents the Sun, the smaller one the Moon. In South Kingstown there are three, while Charlestown can boast of several. Exeter, Smithfield, Cranston, Johnston and other towns of the State have examples. At the present date each one of the round and well- poised boulders examined has the grand eastward view. This uniformity is conclu- sive evidence to many that man placed these boulders in this position for a purpose.
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PROVIDENCE INSTITUTION FOR SAVINGS
Riding in the direction of Westerly, on the Hope Valley road, we see one of these idols of prehistoric days still facing the east, just a few miles this side of Ashaway. This old Sun or Moon stone has unusual prehistoric significance for it is prominently perched on the top of a well-formed mound.
Although no effort has been made to ex- cavate the mounds that remain in our midst, scientific researches in other parts of the country lead many to believe that the roll- ing hills of Narragansett and other sec-
tions may contain relics that would tell a mute story of a lost world. The striking ex- amples of Druid and Aztec stone wor- shipping also strengthen the belief that once upon a time a silent horde of strange men looked to the East at sunrise and to the West at sundown,-wailing a mournful chant, for:
Each hill had its memory holy Each valley its historic lore,
Each ennobled by heroes and sages,
Who worked in the good days of yore.
A SAGA OF RHODE ISLAND
A MERICAN history is commonly supposed to begin with the discovery of America by Columbus in 1492. Modern research, however, has uncovered very convincing evidence that the Northmen visited America nearly 500 years before Columbus did, or about the year 985, to be more specific. Not only are we practically certain of this, but we have equally strong evidence that these same Northmen spent some time in what is now our own State of Rhode Island.
This evidence is contained in what are known as the Iceland and Greenland sagas. These sagas are nothing more than narra- tives of the notable deeds and accomplish- ments of the early settlers in Iceland and Greenland. These settlers originally emi- grated from Norway because of the tyran- ny of their ruler, King Harold. They were made up almost entirely of wealthy petty chiefs of Norway and their followers, be- cause none but the wealthy could afford to equip an expedition for the long and haz- ardous voyage to Iceland. From the best blood of all Norway, they were bold, ad- venturous and highly intelligent. Also, being isolated within the comparatively small bounds of Iceland and on the deso-
late shores of Greenland, they instinctively resorted to accounts of their adventures both for purposes of education and amuse- ment. At first these stories were handed down purely by memory, but in the year 1000, Christianity and a knowledge of the Roman alphabet was introduced into Ice- land. To this circumstance is due the fact that eventually the accounts of the voyages of a number of different Northmen to the Western hemisphere were put down in writ- ing at a time when much of the European continent was in nearly total intellectual darkness.
Early American historians evidently knew that these sagas of the Northmen ex- isted, but they undoubtedly regarded them as mere legends. Such an opinion, how- ever, could not arise except from superficial knowledge. A thorough study of the ori- gin of these sagas and the history of the people who wrote them leaves small op- portunity to question their authenticity. The sagas with which we are chiefly concerned are those describing the voyages of Biarne who was the first to see America, but who did not land; of Lief Ericson who was the first to land; of Thorwald, brother of Eric, and of one Thorfinn.
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"THE OLD STONE BANK"
The first three sagas were written in Greenland and collectively form a strong chain of evidence that these hardy North- men must have visited America. In so do- ing they also make it possible to trace on a map with considerable accuracy just what parts of America the Vikings saw. In fact it is this ability to locate the course of the Northmen on the map that lends complete reality to all the narratives. The fourth saga of Thorfinn is related because it was written in Iceland and not in Greenland. The fact that this saga originated in a locality widely separated from the others, and yet agrees so accurately in geographical details, serves to clinch the fact that the sagas are stories of fact and not mere legend.
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