The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-28
PHILADELPHIA.
Eorrsspondence.of the Herald

FCorresPohuencesCf the Herald.
PHILADELPHIA, Jan 25, 1872
The Dera nj loose dg6in-Girard Bonh-Gyem
Excitement Sc.
To give you little knowledge Of actual facts as
existing in this place. take up pen to inform You
of what actually experienced this morning
received BY mail from Columbus, Georgia, draft
on New York, payable one day after sight Not
being well known in The mercantile world, obtain.
ed friend who accompanied me to the res ectable
| brokers, Messrs. Charnley and Whelan, in South
Thirdstreet, who bought my draft, and gave me
their check rSlo6 on the Mechanics Bank. l
went to the latter Bank and presented the check,
for which he gave SlO0 Girard note and the
rest current money. demurred at taking the
Girard note, having just previously read monied
article in one of the morning papers, which stated
that the brokers selling Girard notes on time,
at five TO ten per cent discount. The teller re-
piled by stating, that that was the kind of money
which they received, and that they took them in
deposit at the next desk. With this came away
| bit a,ing no payment TO make which required the
of 800 note and not feeling satisfied with hav.
| ing the Girard on hand, returned to the Mechr-
MICS Bank, and tried them another tack, saying
| to the teller that wanted to pay the money away
| in small sums. He then took back the 800 note,
| and gave me in lieu Of il three sos, of Girard
| and the remainder Sos city notes. Here was
again. little better off to be sure, but still saddled
with $50 OF that obnoxious money.
Coming off the steps of the Bank friend pulls
me BY the arm, wanting to know what kind of mo-
ney they paid out, when told him. 6 Why" says
he "they have Just refused TO take il on dc post
Now l began to feel wrathy. had just parted
with draft on New York, which considered
| equal to gold, and had received in exchange what
was not good enough TO pay my debts. II imme-
i Il a.al~ to hat ~,
| rard Bank, and ask them for other notes in ex.
change for their own, Ga the way met knots of
| people discussing the condrct OF the banks all
| with their hands full Of Girard money, and NOT
| knowing what to do with it-cursing the banks,
saying thar some had been paid to then by the diff.
ferent banks this morning. and refused IN deposit
| half an hour after-herc was a community bank
| ridden, and made a pack horse 81
Before l reached the Girard Bank met plenty
| Of people returning with the Girard notes, who
| had tried TO get them exchanged for others, but
| without su cess. | was told they were exehang-
ing S10's; therefore concluded would not offer
| nav 500 in a lump-tha, il would be too large sum
or the Girard Bank TO exchange all at once, al
though its capital five millions. When reach.
cd the Girard the counter lined with people on
the same GRAND as nyself-outsde the door groups
Of citizcns-I handed the teller a $40 note, aud
asked him if he would please give me other notes
for il; he said he could nor, that he had 10
give, was not exchanging any Of higher denomi-
| nation than 50. Here was again all thrown aback,
and " hat opinion was to form Of institution, OF
| whom did not ask specie money, but merely re-
quested other notes for their own-that they had
none to give. Well, thinks l, they mist be pretty
| well used up and left the concern with but poor
| opinion Of their nstes.
| All through the streets ! found the exciteme Mt
| strengthening and in reasng. The different banks
had been shepg out thcGirard notes fast as they
| could in the morning, and when the people return
ed a few hours after the same banks with them TO
pay their notes. they refused to take them. twas
said some Of the brokers were buying them at ten
per cent discount, that others would not buy them
| At any price. Having my rent 10 pay, went TO my
| landlord, old Jacob Ridgway, and rendered the
| Girard notes; bu, he refascd them. Well, here
was the John Jacob Aston Of Philadelphia, throw
ing discredit en- the Girard notes. My excitement
and alarm begaa TO increase rapidly; ] began 10
think Of ten per cent Discount. Brvkers refusing
entirely, and a dwindlng away finally TO one hal
the entire amount; determined TO make another
rally and push at the Mech mics Bank, from where
started so with the Slto in hand old the tel.
Ter that I bad given him Charnley Whelsn's
cheek, and he had given me this money, and that
| as I could do nothing with the Grard, ! would
| thank him TO take his money and give me the
check back again which placed nue. high
er vaue on the Girard notes He counted the
| money over, withdrew the Girard notes, and
| gave me other notes for them, for which thanked
| h'm, and rctreated from the bank with light
ster, thanking my stars that had got ont Of that
Grape so well IA