Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-02-25
NUMBER xxIH.


to their custom went over to Dumax's at I'll
O'Clock and took horn. The old directors
| who pledged their estates to the Government
as security for the pet Banks now became ac-
/ quainted with the state Of things and conster-
nation was painted on their countenance. DR..
/ Cuisine who never spent a shilling, exhibited
A singular compound of Grief Horror, and
Despair.
Minor and Merrill repaired to the City Hotel
IN search Of Shoceo, and obiained an introdue-
! ton TO him and MIR. prcnfiss. Shocco was
| bold and frank bat firm m his purpose, while
| Minor and Merrill seemed down cast, hesita-
ting and dispirited. It was utterly impossible
they said to raise the money at present; that
the Bank was unable to meet its current en-
gagemcnts, much less TO pay her old debts
but if a little indulgence was extended to her
/ and she could get small loan at present, Just
tokeep her head above water IN a few years
she would be in as good condition as the
Bank of the United States. Sloeeo told lem
that his orders were pefempt0ry, but he would
wait few days and consult DIR, Gwin and his
friend Mi. prentiss..
As may well be supposed, a man with such
authority, who had besides several hundred
thousand dollars to loan, was not neglected In
Naichez. He was first introduced to Minor,
then to Merrill, then to Routh, and so on until
he and Prentiss had been dined and wincd, and
rode in the carriage Of every nabob about
Natchez.
They soonpropesed to Shocco TO tSke loan
Of his Cape Fear money for the Bank, and de-
clared that they would give him evidence of
undoubted security. How much do you want
says Shoceo? Ifyou win be satisfied saws Mi
nor with one half of whatwe owe the Govern
meni, we viii borrow that amount from you for
ten years. sMy orders are,'' says Shoeco, ato
lend for no shorter period than 20 years, and
at Sper cent" You know, says he, it is a
small business to be re-investing every
{ few years. ssOur charter expires before that
time,' says Miner, 'sand ii is doubtful whether
our locofoco rulers willpermit us ever to linaer
2 out our brief space, unless we are able to keep
gong ahead. When Bank looses its funds #
looses its charms with legislators Thevthen
I proposed to give Shocco o per cent if he would
$ make the loan for l0years. and on this propo-
: sition he took time to deliberate. The Plan
5 ters' Bank hearing that the Agricultural was
: about to obtain loan on certain terms, also
b made proposition for loan on similar terms
: Now the competition commenced with the
e borrowers, and each proposition was followed
n by another round of parties. Then private
$ gentlemen became solicitors for loans and of
: fcred 10 per cent, and TO take It as lone as
q Shocco pleased; they were not particular
+ Shocco was still waiting for Gwin, but enl pyina
: himself with PreRtiss among the ssWelIed
: heads" of Natchez. The borrowers were
G all wanting to know their fate. when ShoccC
7 one evening thus addressed Prentiss.
: Prentiss, by cd the water here is TOO d.
y bad, let us go TO New-Oreans. have jus
q received a letter informing me Of thearrval o
y 200 thousand dollars OF my specie in that city
It and had better 90 and see after it while ties,
g boys are making mp then minds whether the,
q will take my offer for % years. 81 would a
ID soon 90 to New-Orleans as any where else,'
said Prentss, ethere is tip top fun to be hunte
70 upthere." And in one hour both We're o
% their way to New Orleans. Here they wen
&c it with a "perfect loosenessp for several day
4 and here Mr.. Prentiss with the % thousan
IN dollar fec, dancing before him, consented TO b
ne elected the representative of TIE wings
y mississippi, IN the Senate of the United state;
~ After few days IL the most JOYOUS lIlarit
re Shocco asked Prentiss if he had any chang
about him ga little,' said Prentiss, DRAWN
nc out his wallet. @Just lei me have couple
hundred dollars sad Shocco, "mtil / get t
Vieksburg, where my sremttances have bee
ne ordered from Columbus" al have not got q
much about me, said PrentisS, Gas | did NJ
ed expect to como further than Natchez when
ar left" sHoWeveT, div on me at Nicksburg
s. go days, and III accept the draft. Any of Ii
n Banks here will discount it, Shocco drew #
IS 800 dollars, and one of the wing Bake s reat
,il ilY cashed the draft at 10 per cent discount
er This was a perfect god send TO Sheccoy and h
Ks went ahead with renewed energy. In a fe'
n days however, they got tired of New-Orlean
h and returned to Nalchez TO finish their bus
-et ness. They were again haunted in the mo
obseqnous manner by the bankers, borrower
and spectators. A new round of parties cor
menced and new competition among the be
IA. rowers. The company of private genllelnl
he bid aa high as IL per cent for Shocco's none
NO and the Bank fiually came up to the san
lilo mark; but they would not 90 beyond 10 year
mn There was difficulty in each way. Sheci
Ia was not authorized 10 lend for less than
HE years 10 corporation; he would require
H. most rod scrutiny into the titles and the MOI
a, cages Of individuals, to all Of which his fre
Tr Isrentiss would attend. He agreed at last
asf let the Agricultural Bank have 2G0 thousa
he dollars. The writings were drawn, balan
mi sheet made out and the cashier exhibited t
lie books, bills, and notes. to convince him Oft
Z ;, solvency of the Bank. To the private gent
or men he promised to loan various sums, but tn
nd must take it for 20 years and he declared I'll
I'd, the Planters, Bank should not have single d
nat lar.
hat aPrent,' Gays Shocco, at is a id pity
in spend my specie funds in this state, when shl
ow pastors % per cent bels " par are current. :
ION alt does not look Ike good financerIng' sa
nc prentiss. sI4et us ret some Of these d.
old post notes TO 90 on, says Shocco, drawn
he up sheet Of paper that lay hefare him; 4
ton LAYING down his cigar, he drew a bill on $.
pss Preatiss of Vicksburg, for 5000 dollars, PAT
isl bic in so days. aThere, said he, saccopt Il
and viii getit cashed my funds vii arri
i, from Columbus, and shall have completed
~, -, my business before It falls due, when sli
n take it up and the other little affair at New {
- :, leans. prentiss accepted the bill and Sfoe
= ri took ii ND 10 tho Bank DR.. Merrill sent [
a. black porter of the bank Ike one Of the q
- jnlcfs Of mercury, over town to bring "
bill committee, and before Shocco had ted &
- anecdotes his BIN was cashed, and he shoV
2sS0 dollars into his vest pccket without int
: - - rupting his conversation, and with as mn
- non clEaznnce as if he had been only bnylns
II, dozen cigars and putting the change IN
- pocket. When he came back 10 The taFe
~ prcntiss was asfonished at his business car
Wy CIV. aShoc, said he, ~ be id you
81, IN not the most extraordinary man ] know
FL Whether attending TO the detail of small
me ofexchange, or managing negotiation
+ ;, millions you are equally an fat. live cut
s. eve teeth, says Sbocco, as he put his ha
~ over and drew fresh cigar from prentl
ird, box.
~ The Agricultural Bank anxious to SCI
81 with the government, and remove the ele
- - 81.