The Democratic pioneer. [volume] (Upper Sandusky, Ohio) 1845-1853, 1847-11-05
That Gold"
OR. MICHIGAN FLwa \ CIERiMG
A Tale of sthe Times that tried MEMS
Purses.
There are more things in Heaven aud on

! Aue'e are thoTe Nuipgs w HeaVen ano on
earth, Hor alto,
Than are dreampt Of in your philosophy
Mississippi has been famed for her bank
ing. The story other fnanc iai greatness,
in the manufacture Of paper promises has
been the theme of story aud Of song. Her
6nanciering is not unknown, and never
will be, as long as the Brandon and other
banks give living illustration of the
truth Of Sam Patch's remark, that some
things can be done as well as others
With the swiftness almost Of the enchan-
ter's wand. paper was turned into bank
notes, ard every whig Knows THAT little
generous confidence makes bank notes
money. Confidence was not wap'ing and
Mississippi fourished like Green Bay
tree, until the rascaiiy iocos destroyed
the confidence, and thus destroyed the cup.
itat of the bank. We stated Mississippi
banking had been said aud sung -recited
and re,rected, until ii has become an old
aud thrice told tale. "A
While thus the southern inanciers-
ardent as Mississippi sun could make
them'--have had their poets and letter
writers and newspaper paragraphis,s to
sound their praises, Michigan, her great
financial rival, has not had enc. Had her
banks continued little longer, she could
have beat Mississippi all hollow but
there came frost, which nipped her ris.
ing greatness. and bursted her whole sys-
ten. The cause Of that frost coming whe n
! il did, is interesting, and if the reader
A will bear with us little while, we will a
I STALE untold, which viii show the efforts
A of the Wolverine bankers to regulate the
8 currency and oGtshine the fnsncialsts OF
Mississippi.
g Tie lime Of which we speak was abou,
: the close Of the speculating days whcI
h commenced in 1896. Every body had
$ grown rich, aud every body wan ed t,
grow richer. Men calculated their for
: tunes by millions and half millions. IT.,
t State Legislature had enacted a gerer
b banking law, wisely and safely guarded, a
e all new banks are, and banks Inuumerab I'd
e had gone into operation, aud their not es
/ sthich as leaves in Valum orosia $ shade
a were IN lie pockets of bank officers, theiI
: fayortes and dependents.
e Among those appointed to watch these
I institutions, was Alpheus Fetch, the late
Governor, and one of The present United
d States Senators from Michigan. Wis
/ the general banking law was enacted, b,
stood almost solitary aud alone, IN opposi
he viewed them with suspicion. AS enc
g of The four Bank Commissioners, he hae
II one quarter Of the banks to attend to, ant
= was Dunnd to examine them in person
e lie marched one day into one Of the banks
BE- in Detroit, and demanded to see thell
r specie. The bank officers, who had ex
e peeted his comining, were all smiles an,
3 affabllity, and Cracked their their jokes
n aud smoked their regallas, and dranA
! their champagne, with an air that bh
few, except bankers, can assume.
9 The commissioner fpund The entire spe
Gle capital Of the bank III gold, and as ht
was somewhat believer IN he gold bil
r Of Mr.. Benton, he gloated his eyes con
e siderabl! over the yellow boys Among
the coin were some pieces uf an old date,
aud these. from their antiquity, excItet
a considerable attention. Al bank Ne. |
! all things were found right-the cUin wa
. there, and the books showed that the Issue
of notes was but three dollars to one.
AT bank No. =. as al No. l. the specie
4 capt al W as also 10 gold, aud, strange as u
q may appear, the amount lacked bat fe "
dollars of being the samei and what was
stranger siiil, a number of gold pieces, .
d similar antlquity, we're there iouno. Tue
, commiss ioBer, anxious to see II the curl
. Gus coincidence would hold out, quleti,
took a memorandum Of The number ot pie.
ces, and Of their date. AT bank No. 3
the gold pieces were tbeie, aud no where
, else, and the number and dates CORES
, Ponded. The commissioner drew down
his spec acles-chuckled little, TO think
y how The bankers had eutrspped themsel'
3 YES, in attempting to outwit him; but he
. kept his own counsel, anu went IN hi
r way. Al the other banks, making in al
: some twenty or thirty, the same quantit,
OF gold-the same mum ber OF ancient coins
with dates corresponding with the memo
randum, were found, aud OF course the
commissioner had 10 pass on. lnqmrles
were always made as 10 the next bank 20
: be examined, and Mr.. Commissionei
Fetch, proverbIai for pUliteness, could u0l
refuse TO answer.
The commissioner was about closing bus
inspection Of a bank in a remote county,
! aud there remained but one more to VISIT.
II was late at night, and he was anxious
4 In o. Of hume buf The last bank belDr dis