Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1846-03-19

Was 10th to die maid
And Tommy scrouge was just the man
To be bankers aid.
The GulltrsP Bank was soon PROCLAIMED,
And heard Of far and near;
John Peckflint was its President,
Tom Scrouge was its cashier.
-Four others it directors had,
Good easy souls they were,
Who'd nought to do but hold their peace,
While John and Tom should swear.
Their banking building large and strong,
Stood in the towns main street,
With GULTRAP BASK upon its front,
In letters large and neat.
Though borrowed was the capital
On which they did begin,
They got it duly certified
That all had been paid in.
Twas then their doors in banking hours,
Were seen wide open thrown;
And customers then came in scores,
Each wanting bank loan.
Old Peckfint he was very kind,
Young ScTouge was very spry.
And every where throughout the land
The Gulltrap notes did fly.
These notes bore various fair designs,
Fine pictures neatly done,
With many patriot hero's form
And hea | of WAsHISGroS.
They paid the farmer for his grain,
They paid the labOrer'S hire,
And oft were boosted better far
Than gold tried in the fire.
For days and months the work went on
As though 'twould have no end,
And Peckhint still could easily
His paper dollars lend.
But always he did take good care,
Lest loss he might endure,
That mortgages and many names
Should make the bank secure.
o then it was gladstone sight,
To look that region round,
And see how every cunning wight
The way to wealth had found!
Some houses butt and some bought lands,
Some went to merchandise
And, whate'er thing they took in hand,
The price was sure to rise.
Twas credit here, and credit there,
And credit every where;
And that pay day e'er would come
No mortal seem'd aware.
The credit system was the thing,
All GulltTap did assert,
To make people prosperous
And want to wealth convert.
The workman's wages, last of all,
Were higher than before,
And then twas good to hear il said,
See how it helps the poor"
But now a as it came to pass,
Ii Peckfimts word was true,
1.-THE foreign news was very bad
No notes could he renew.
at grieved him much but duty stern
Required him to collect,
And every man who owed the bank
No favor need expect
AT least, not till affairs should wear
A better face than then
But that he hoped would be quite soon,
And he'd discount again"
All sad indeed those tldings were
To Gultrap debtors all
And each for hep did loudIy there
Upon his fellows call.
But debt, and debt, and nought but debt
Was found on every hand,
And few were they who could Just then
The cash they sought command.
The workmen's wages. first of al,
Fell down TO be much lower,
And then nobody thought to say,
See how it helps the poor y
Some went to the Bamboozle Bank,
In hopes they'd there get aid;
But GTipes had just the same excuse,
His discounts too were stayed.
A few went back to Gulltrap Bank,
To urge their need again;
But Peckfint only more twas gIiev'd
They needs must urge in vain. -
besides, election time was nigh,
And if the locos won,
The day was DER for every man
The land to ruin gone"
Although, a thousand times before.
This tale had been brought out,
Each bank-rid WING now swallow'dit
Without moments doubt
Like silly calves TO slaughter led
They d nought to do but bear;
And soon the sheriff and his aids
Began their debts to square.
Now prices all did greatly fall,
For both the rich and I,oor
But Peckflint he, and all his friends,
Did much increase their store.
At sherif>s sales. and otherwise,
They purchased very cheap,
And shaved each debtor of his goods,
As sheaTer shears sheep.
But then al last relief there came
From this necessity,
Although il cbanc'd election proEd
A loco victory.
And here the muse should not forget
The item to dec arc
The cashiers wife, ere six months wed,
Presented him an heir.
Twas then anew the bank began
Its issues to expand;
And as before, its paper spread
Throughout the whole wide land.
As simp'e moths seek candle flames,
So borrowers sought the bank
And thus again the fever ran
Through all from rank TO rank.
Then Peckfiint sold what he had bought
When prices we're so low;
And many noodle still MAINTAINED
That banks made gold to grow.
Bot as before, pay day came
To spoil them Of their dreams;
Aud all the bankers still grew rich,
While failed al others schemes.
In just this style for many years,
John Peckfint had his way,
Till other banks had 50 sprung up,
The game grew hard to p ay.
Then when his notes by various arts
Were scattered far and near,
Alsudden y, 9 The Bank has fairdr
Was what Guiltrap did hear.
Then thousands found its promises
Were nought but worthless trash,
And TO their sorrow plainly saw,
Thatpaper was not cash.
Old Peckhint seemd to feel quite bad
When things were thus amiss,
But made il clear with many words,
II was no fault Of his.
On one far of he charg'd much wrong,
And divers causes nam'd,
And specially the government
he very loudly blamed.
As for all those who held his notes,
He "hop'd they'd Ia, e shccess
In saving something from the bank,
To make their loss the less"
The bank assets were given up.
lust as the law required,
And to assist its assignees
Its cashier duly hired.
John Peckhint turn'd unto his home
A costly mansion fine
And as he lookd on all around,
He thought not to repine.
His game was done, but he had grown
Far richer than before;
or houses, lands. and money bonds
His heart could wish no more.
Tom scrouge, he too a handsome sum
Quite snugly had laid by,
But for the sake Of further gains
The game once more he'll try.
Bsmboozle bank doth still survive,
Where Tom will have berth,