The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1851-04-03

even those that should have profited by The
losses of the rest of the community, have
not done SO, and we find some of the resi-
dent Directors and officers of the bank, suf
f,rers by its operations.
| We would not pretend 10 say, without ar
examination of the records of Blair and
Huntingdon counties. how much of the real
estate of Hollidaysburg and neighborhood
now belongs, or has belonged to the Ex
change Bank OF Plttsburg but we can look
around that town and Gayspot and single
out much of our most valuable property, thai
either now belongs 10 that corporation, Oh
has changed owners through its instrument
tality and by the in,ervenliop of the sheriff
After having accomplished this; after nav
ing driven off mastofaAse meehanics and
business men, and taken their property, and
drained those who were left until they were
no longer worth operating on, the President,
Directors, g. Co., concluded 10 wind up the
branch, and managed in tina, process 10 wind
up the cashier, who had continued TO -four
ish among ihe.general wreck, "like green
bay tree," as cashie, should flourish, and
his possessions were in due season added TO
the possessions of the bunk. And now if
any one should desire to read tbs history OF
the Branch of the Exchange Bank, ofPitts-
burg, at Hollldaysburg," he may find it a,
the cour, house on the judgement docket,
and on the trial list, in characters such as
these : "7he President, Directors, y Co., O
the Erchange Bank Of Pitt'b,ug, Us. John Smith
endorser of JOAN Jones &c." The unwrltten
history meets the visitor at every turn. He
sees page of it in that snug bnck house,
commenced by worthy aod industrious
mechanic, in the fond expectation tina! il was
to be home Cor him and his children, now
occupied BY stranger while he, in the dis
tant west, in middle age, with depressed
spirits and diminished strength, is striving
to lay the foundation of another fortune and
many similar pages could we unfold.
The history of one bank, is The history oi
all "like causes produce like effects" and
Whenever mechanics attempt TO improve
their condition by the use of bank accommo-
da,ions, like results will follow. And the
misfortune is, that where curse of the
kind is inflicted on community, ii is scarce
ly it the owner OF any one 10 avoid its eli.
fects; il pervades the business of the place
and all who share in the business, mus
share in the evil. We have given more
sketch; backward gianta at the history
and effects of this institution; the story
could be made much longer and mora pain.
fully interesting. "a burned child" it is
said "dreads the fire. and it might be sup
posed that in community that has been
thus blighted by monied corporation, and
among men who have thussufered, or seen
their fellows suffer, there could be found
rone to desire repetition of the dose. But
on these subjects men are slow to learn
many do not, or will not, sec the conn exion
between the effect and cuuse and we do not
doubt, that when this article meets the eye
of some who, with us, have witnessed the
occurrence of these things, they will wonder
that we have thus connected the failure oi
many of the former citizens Of Hollijaysburg
with the existence and operations of the bank
let them take up the idautisal tastancas that
we have generalised, and see If they can
trace them back TO any other cause. The
fact that the bulk of the wealth that was
created in Holidaysburg, in the ten years
from 1896 to lS45 has gone 10 swell the cof-
fers oil the President, Directors g. Co., of the
Exchange Bank of Pittsburg that the cor
poration now owns more property in Holi.
dayshurg than is owned by any individual,
and that it has been enabled to accomplish
this by grant of special privileges from The
Legislature of Pennsylvania, cannot be- sue
cessfully denied.-Then, if like causes pro.
duce like effects, unless banks and men
have changed their nature in the last twenty
years, the location of bank in every vii
lage of the commonwealth, the result look
ed for from the establishment oil the free
banking system, cannot tail TO end in wide
spread ruin and general dislrsss the robber'
of the many Tor the benefit of the few
the creation of few milionaires from the
fortunes of "the toiling millions; the expul
sion of the mechanic from his home and the
possession Of his home by strangers; and The
''fertilizing the rich mans field by the swea
of the poor mans brow ."-Ksysione.
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