The Ohio Democrat. [volume] (Canal Dover, Ohio) 1840-1900, 1842-02-03
Prom the Philadelphia Spirit of the Times.
RUN ON THE GIRARD BANK

picture 0 We tTlHWS SCeHe'
For several weeks we have ever and anon
cautioned the public against placing too much
faith IN the stability OF the Glrard Bank. We
had reasons for believing that il was very far
from heing \ solvent institution; and although
we we're unable 10 publish those reasons, from
the fact that in our State ehe greater the truth
the greater the libel," is The prevailing maxim
~0f the law, sense Of duty compelled US TO
warn every reader of the presence Of Danger,
aud bid every man, woman, aud child, to
''touch not-hande not" lis lailbless prom
ises
On.Monday, Tuesday, Il yesterday. ap-
prehenSIve ofthe close proximity Ofa Crss,we
continued 10 'cry aloud and spare not in the
promises. We thought our immense circula-
aon would have the requisite effect, and sure
enough yesterday the public became alarmed
in reality. Early in the morning, tremen-
dous run was made npon the GIrard Bank,
as we'll as slight one upon the others, and
before noon, the former had we'll nigh closed
its doors, while the later were filled with fear
aud agitation.
The GTard Bank was soon compelled TO
etop exchanging any Of lis notes except lives.
The street tn front, and the pavement oPpo-
site as we'll as the bank itself was filed with
a dense crowd of excited persons all Dpeak-
1ng in the most energetic terms OF the lnsol'
vescy OF The institution-cureng their own
stupidity in following the advice Of the 'lImes
and eschewing its noles--and snathametsIng
the corruption Ind conduct Of banks IN gen>
eral. Plckpockels had their hands foil IN The
tcreYd, and meny.an individual he'd his pock'
els ltghlened of notes that but few moments
before he had tried in vain 10 get The Bank 10
exchange. No great Ioes, thai!
~Alfthe oher,Banks refused about ii o'clock
TO receive GIrard notes on deposit The Bank
Of North America refused TO pay check for
5000 unless the holder would take it in GIrard
notes! The Mechanics Bank refused even TO
receive back The notes of the Girard which it
had paid out only an hour before Most Of the
other Banks acted with a similar precaullcn.
A meeting was held in the morning and one in
the afternoon at the Girard, of a committee
from the other banks, but we did Eot learn
The result. 1t was admitted on all sides that
tho Girard was "a gone case." It's stock sold
at The Board yesterday for five dollars and
half per ehare for fifty dollars paid, while
stock Of the defuncl Schuykill Bank sold for
seven doars per share. Comment isunne-
ecssary.
1T s impossible to picture the CONSERVATION
which this sudden blow up has occasioued
among our citizens: To many. the loss
is irreparable. To all the loss is great
forimmense pains were taken 10 force it's pa
per into general circulation. The brokers are
in for It this time, too, since we are told they
had large amount Of Girard notes on hand pur-
chased under the impre ssion that it would hold
up few days more! One poor woman whom
we saw in front of the bank crying bitterly,
said that on Saturday last she had sold
one hundred dollars in gold to broker
for los so in paper, that she had received
Girard paper. and now that the bank wes bro
ken, che was ruined.
This was only one Of hundred similar
scenes. Some Of them defied descrp ption.
On two or three occasions, there was manl-
tested, on the part of the crowd disposition
to tush in and gut lhe banks, as they termed
1t.
'Let US tear it down, and srew salt on lis
Tuins" cried voice.
Let us break into lis vaullsP echoed anoth'
er.
PshaM you'll fad them like your head"
'sDeered'a Director
How is thatP' inquired dozen directly
'EmptyP was the response.
The arrival Of the Mayor ofthe city on the
spot. dssipatsd for the time the idea Of any
outrage on the institution.
About half pact two o'clock we wended our
way into the bank, and found the place occu-
pied BY crowd Of people of all ranks and
classes Some were scattered in groups of
tive or three, along the floor; here and there
hard working mechanic stood silent and alone
lingering the vaIueless notes which ne held in
bis hand; an6 the paying teller's counter was
blocked up by dense mass of applicants for
their rights Taking,the arm of friend whose
poeket.was filled with the worthless notes, we
stroled around theroom, and listened to the
conversation Of the various groups
Wonder stands Mayor Scott, looking thro'
che spaces between those two pillars, and
listening to the gallant Colonel Lee, who is
standing by those scales Observe how ear
nestly he 10 talking to that mechanic dressed
in a coarse blue overcoat, and with bundle
of'greasy notes in his hands. Let US hear
what the parties haveto say"
SHOW, sir" said Col. Lee, speaking 10 the
mechanic, 'itwould be better for you 10 lenve
This matter rest till to- morrow morning. Tu-
mutt will not better this calamity