Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1848-08-05
From the Louisville Journal,
Financial Operation of General
Lewis CaSs.
EXTRAORDINARY DEVELOPMENT
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LOOA Al EhlS.!
In 1886, Lewis Cass, Henry Hubbard,
Francis .. J. Smith, Francis Markoe, jr.,
and Ramsay McHenry, all then at Wash
ington CITY, formed themselves into an as.
socation, under the title of the "Wes,ern
Land Association" for the purpose of specu.
laling in western lands. One of the Asso-
citation certificates of stock, has been sent
US. Ii is as.fulluws:
WESTERN LAND ASSOCIATION.
Be it known that Lewis Cass, Henry
Hubbard, Francis o. J. Smith, Francis
Markoe. junior, and Ramsay McHenry, on
the 2S,h day of April, A. d. 1896, entered
into an association, with the combined CAPT.
tai of 100000. for the purchase and sale of
Public Lands in certain Western States and
Territories of the Union, according to GER.
tain articles Of agreement bearing said date,
and signed by said parties, and that
is proprietor of thousand
dollars Of said capitol, whereof the aggre.
gate sum specified in the underwrilten GER
llfcate has been paid; the said thou
sand dollars being portion of the capital
originally assigned 10 said in
arlicle Of agreement, and subject TO de.
duction of one.lh part of the profits &C.
cruing thereon, and 10 the payment of a
proportional fraction of the necessary ex-
penses OF the constituted agent of said AS
ISOLATION, and TO no other deduction.
Be it known, also. that said stock is
transferable in whole. or in parts not less
than one thousand dollars. by an assign.
ment of this certificate by said
or his Attorney, and record
theroof being nada by the Spcretnrv N the
transfer book of the association.
ashington City, 1896.
President
SECRETARY.
This Association, for purposes of land
speculation, was formed when Lewis Cass
was Secretary of War under Mr.. Martin
Van Bnren. Cass himself, the chief of the
spectators, paid in $4,000, and others
paid in 100000, making total Of $3.50,
900. The contemplated capital Of $780,
600 was not obtained. The plan of the as
ISOLATION was TO enter lands in The West and
hold them up for vast increase of value.
Cass being Secretary of War, and, in virtue
of his official station, having important adj
vantages over private individuals, the as
ISOLATION gave him the control of the whole
business. lie appointed the agent to make
the entries of land-selec,ing his own agent
and agreeing 10 be responsible for his acts.
The agent went to the west and made pur.
chases, all under Cass' direction, and the
latter, directly and through his agent, con.
tinued TO have The management of The lands
After several years delay, the members
Of the Association began to have strong
suspicious that there was little or no prob.
ability of their ever getting any thing for
their money. All their applications To Cas-
for information were of no avail. Nothing
satisfactory could be learned from him
After consultation with each other. they
appointed the Hon. Henry Hubbard, one
of their own number, and then or since U
States Senator from New Hampshire, Il
look after their interests and ascertain i
Cass and his agent had dealt by them fairly
and honestly. Mr.. Hubbard opened cor
respondence with Cass, but, failing in every
effort to get any satisfaction from him. hi
wrote final letter informing the Hon. Sec
rotary of War that he was a rascal, and tn,
Hon. Secretary was quiet and silent unde
the charge. Mr.. Hubbard charged hin
with swndling his associates. and the Hon
Secretary, instead of exhibiting resentmen
or attempting 10 prove his innocence, al
mitled by his silence the Justice of the &C
cusalion, and even to this day the Associa
lion has not been able to get any thing on
of him.
We are authorized to make this state
ment by a member Of the Association,
gentleman who paid 81 5000 in O the hand
of Cass or his agent, and has never receive
hat in fIey IF IN