The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-03-08
Spirit Banking-Lctter of Ira b. Eddy.


The Chicago Democrat publishes the following
strange communication from Mr.. Eddy, giving what
he calls short history Of the Bank OF Chicago"
There appears to be some little method in his mad
A few weeks before the bank opened, Seth Paine
met me, and out OF curiosity, sounded him to find
out wherein he was insane, rs people said he was.
found him maniac only upon banking as was up
which he did probably supposing it the best way to
get my assistance. ! soon obtained him as me-
dunn. He then offered me the presidency of his
bank, il would take twenty thousand dollars stock,
and give my notes. l refused to give my notes, but
in due time accepted the Office, when could the
bank to my own purposes; and soon called around
me my own true friends, dismissing all Of Pane's
friends, except John s. Holmes, and he did not
know his friends, being young man yet.
Banking despiA, and do despise it as degrading
the whole man. With Seth Paine and his Christian
banker we soon showed this community the rotten
ness of all the banks of this CITY, The bond stock
banks were so only as far as they were based upon
bankrupt stocks. But Imean that the general prin
cipe Of banking is rotten to the core. We soon re-
duced our circulation down to very low amount.
then took the stand the time having arrived assisted
by handful OF women and their husbands, as door
keepers to give the inhabitants of this city positive
proof OF the actual truth If spiritual manifestations,
in manner they could not say it was all humbug.
but verify and truly Simon Pure. For three days in
succession we gathered together the seekers after
signs, many Of them armed with drks and other
weapons, and we dashed them up to the utmost fury
u
armed by the law, could or did do nothing with the
vast multitude, we, with few women, my wife
among the rest. held the whole mob spell bound for
the three whole days. Not hair of our heads was
harmed did we suffer one dollars damage to our
bank property. then changed my plans running
this community, who ore eager for money through
our bank and out at the back door, redeeming all
notes held by the poor laboring and all women.
and giving all others exchanges on our spiritual prin
cipals, for near two days. When the bank had per-
formed its spiritual mission, suffered the sheriff to
close its DOORS This bank was conducted by me
wholly for this end.
/ believe that have ever been known to this
people as an honest man, only little deluded by
spritualsm, but just g ainf." now say, that
every honest man, and all, shall receive the utmost
frthing for our bills Of the Bank of Chicago
We are also fighting for woman's rights, and could
not have dashed UP this community we have done,
without the assistance Of women IN our bank, and
standing nobly as they did at our counter God bess
them, and give them their rights very soon.
advise honest men not to part with our bills ex-
cept to give them out to the women, for we shall
soon pay for all such in full. desire all thinking
men TO reflect upon what say, and learn some sad
truths-sod only for the real crazy men engaged in
this strife against spirtualism, and for few paltry
dollars. The war has been carried on by those only
who are bereft Of all reason, and they have also
learnt that banking can be and is carried without
any security save generous confidence. We have So
done it and others doing it in your city. The
bubble must burst, and then you will see who Is crazy
in sustaining rotten banks and rotten bankers.
IRA d. EDDY.