Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-04-19

wnAr no rns Locopsoos wAHr4 WILD Cant
The locofocos Of Tammany Hall are bawling out
most Justify tor General Bank Law-that it 10 to
say for "Wild Cat Law" as il 10 called, such as
the locofecos in Michigan recently passed, and on
the strength thereof issued 81 600 600 Of the best
wild cat money the world ever saw. Now in order
TO understand what Wild Cat law ia Wild Cat
Bank-or Wild Cat money, take the following state
ment from Buffalo paper describing a visit madeby
the Bank Commissioners of Michigan to examine
these curious animals -
The Jackson County Bank" was found in charge
of temporary teller, the other officers being out OF
the way letter was presented TO the Commls-
sioners from the President, hoping they would not
insist upon examination in his absence, as no sa-
tisfacOry information could be offered them, except
BY himself They however did insist and walked
into the business The stock book could not be found,
but was supposed to he in the trunk of the Cashier
In the books Of the bank, the names of all persons
and corporations with whom accounts had been
opened, were written in pencil-the entries IN ink
In few minutes therefore, the whole face of the bu-
slnsss transactions of the bank could have at any
time been entirely changed Entries and dates had
been erased with knife, and new substituted.
certificate of specie deposit for $4,000 presumed to
be a substitute for the first instament of specie re-
CURED TO be paid IN, was rot TO be ound-supposed
10 be IN the hands of the absent Cashier On exani-
nng the specie of the bank, nine boxes were pointed
out by the teller as containing one thousand dollars
each. The teller selected one of these boxes and
opened II this was examined and appeared TO be
full box of American half dollars One Of the Com
mlssioners then selected box, which he opened and
found the same to contain superfcies only of silver
while the remaining portion consisted OF LEAD AND
TENPENNY NAILs!! The Commissioner then pro-
ceeded to open the remaining boxes they pre-
sented the same contents precisely, with single ex
ception in which the substratum was WINDOW GLASS,
broken into small pieces.
htae IN, Gao lu nl,J
out from the lead and glass aforesaid, amounting to
a rfe over SIS 000 How mach of this was bogus
the report does not state. The official statement of
the hank, made only three days previous, claimed
$40 600 specie on hand.
There appears to be real deficiency of assets to
meet the liabilities of this bank of $44, 1919.
Such is the character and condition of the Jack
County Bank"
B rry in the county of Jackson was next examined.
The security furnished was the personal bond of
the directors. The thirty per cent on the capital
stock required by law to be paid in specie, never
actually paid in, but certificate Of specie deposit
appears to have been used instead of coin, and no
stock book was ever opened.
$4,000 was advanced to L. D. Smith, President,
and $4,000 to A. Clark, Teller, for which amounts
no other security than simple receipts was taken.
There book presented, purportDg 10 be the
cash book of the bank bat SO clear was the evidence
that the entries were made for the purposes of decep
on and the whole prepared for the occasion, thatit
was emitted TO no consideration.
The entire issues of this bank were made IN VIOLA
ton of the law, without endorsement by Bank Com
missioner. A deficit in the means belonging TO the
bank for the payment of Its debts is shown Of $780,
956.66
Enough for one dose-two pills quite enough. TIE
Commissioners examined only five Wild Cats out of
fifty, as follows:-
The Jackson County Bank, at Jacksonbure; the
Farmers Bank of Sandstone, at Barry; the Ex-
change Bank, at Shiawassec the Bank of Lapeer, at
Lapeer; the Wayne County Bank, at Plymouth
Tive of these we have given. When the loco ocos
have digested this dose Of Free Bankng-free enough
in all conscienee-we shall give them another tomor-
row. Why! the shnplaser concerns of last sum-
mer, in Wall street, were not circumstance" TO
these Wild Cats. Free banking and wild cats for
ever!
AGAIN THE BLOOD FLows.-Lount and Matthews
two of the Canadian patrIots-have been executed
at Toronto under the government of Sir George Ar
thur.
This act will be the renewal Of the Revolution in
Canada. The idea of hanging men for endeavorng
to effect revolution belongs to the last age. We look
for fresh and terrible disturbances in Canada The
right of revolution is one of the rights of man.
FACT, AND PARALLEL-0n this day, 1924,
Lsrd Byron died, at Missolonghi, in Greece. Who
VIII get wy Recommendation VI Hcudy lHefe arc
a set Of loafers here who make great TO do about
Tom Pane; why not do something of the kind for
poor Byron7 They both drank gin and plenty
of il.
ROYAL PREPARATIONS The dit is that John
Jacob Asior has proposed to make donation of
$1,000 to prepare the Astor House for the reception
Of the Prince de Joiapils, daily expected here
What!
SPLENDID BALL takes place at Jamaica, Long
leland this evening 1t is the last Of Mr. Schaiers
Assemblies for the season, and accordingly all the
beauty of Long Island. from Hampstead, Williams
burgh, Flushing, and many from Brooklyn, will be
present. jamaica alone could half fill Paradise
II A very pretty ceremony took place last
ing in the lower end Of Broadway il is the only
one in which friend the Rev. David Hale ever ap
pearci TO advantage. Particulars tomorrow.
" Who is Mrs Sutton
HARD TIaEs.-Doctor Springs congre CATION, last
Sunday, contributed $500 for the conversion OF the
heather in the Sandwich Isles. salmon 10 catch
sprat.
TT The Sunday School Anniversary takes place
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