The Andrew County Republican. [volume] (Savannah, Mo.) 1871-1876, 1873-01-10

insolvency of the United States Bank
would have too much probability with
the masses for it to stem the tide, or Sc
cure renewal of its charter. And SO
800, 600 were placed at the disposal Of
Clark, with orders to call for as much
more as he required, and to take his own
time to complete his work '4.sHt
As, broker, Clark quietly gathered
and boarded Savannah Branch Bank
notes as they came along, or as he could
secure them without suspicion in the
regular course Of business.
But there was another chapter which
was forgotten or unknown to Clark, but
which came into the story and gave it
finishing touches and that was the in
exorable laws of financial tides, and the
system pursued by the mother bank at
Philadelphia in dealing with its branches
not omitting Nicholas Biddle, Presi-
dent of the mother bank-familarly
known in the strategy of that notable
war as cold Nick" This important
consideration seems not to have been
fully studied nor ccmprehended by the
New York broker, nor the political field
marshals in Washington. From the
Revolution up to the days Of which we
write, neither money nor fame were suf-
ficient to secure men in places of high
trust and responsibility. Integrity, ex-
perience, and brains were the essen
tials for such honors. It was certain,
therefore, that no second-rate man would
hold the vast power in the money world,
and the complicated duties involved in
the presidency of bank with thirty
millions of capital, collecting and dis
bursing every dollar of the national rev.
enues, and with business credit that
had penetrated even to Hong Kong.
Nicholas Biddle was the happy individ-
ual upon whom this distinguished honor
fell, and right ably did he sustain his
place and reputation. So, while Broker
Clark was mousing around New York,
slyly gathering in Savannah Branch
Bank notes, and boarding them, Mich
olas Biddle sat on his golden throne in
the bank parlor at Philadelphia,
Calm as 3 summers morning.
We know what Broker Clark was
about, with his little 'corners in New
York. Now let us see what Nicholas
Biddle is about, in his parlor in Phila-
delphia.
The branches of the United States
Bank made weekly returns to the mother
bank, including the amounts of respect
i've branch notes received during the
week. This kept "Old Nick" always
informed of the general amount of notes
in circulation from each branch, as well
as bird's-eye view of the circulation
and business of the whole. Necessarily
these weekly returns were critically scan
ned and compared. An understanding
of this part of the business system pur-
sued by the principal bank will make
what follows clear, and incline us to feel
curious over the success of Mr.. Clark,
the broker, in his search for Savannah
Branch notes.
OF course, "Old Nick" was constantly
on the alert for his cunning and powerful
foes. Like spider in the center of his
net, he watched sharply to see where and
how it was threatened. Studying over the
usual weekly returns one day, he OBJ.
served this, in the return from one
branch: e-.-nEN -t
"We return you less than our average
of Savannah Branch notes." w
This was not calculated TO arrest any
special attention. But the next week two
branch returns said .--.e- f#l
"Our return, this week, shows less
than the average of Savannah Branch
notes. .''-Ff
1t may be supposed that Nicholas Bid
die turned his eyeglasses upon thii
second warning with curious interest
and when the next week--and the sue
ceeding weeks-anG every week k-th'
steady, Wholesale disappearance of Sa
vannah Branch notes from circulation
was thus proved, we fancy we see tn
Nicholas Biddle placethe right digit asid'
his nose, and thoughtfully ponder. NJ
one but himself knew of these signs Of
storm coming from all quarters. Jus
what it all meant, he could only guess
but he hit the truth. 80, keeping hi
| own counsel. he quietly shipped 5000,
600 of specie to the Savannah Branch
| with letter to the President--who wa
directed to keep his eyes wide open, ant
his mouth close shut. Meanwhile
Broker Clark was gathering them in,
and chuckling over the success an
secrecy of his labors. What he did, b
meant should be thorough; and when b
started to squelch the Savannah Branch
he intended to snuff it all out, sure; an
20 he made no undue haste, and took N
| perilous risk, mot he.
One fine, sunny day, at time Of tn
| year unknown to this deponent-only q
sunny days are specially fine insAvanna
"a strange gentleman entered the quie
t,Aaca,, ~ the un;ted States Branch Ban
In sayauna snd impaired for the Pres
dent,-an occurrence not unusual, Con
ing into the presence Of the great ma
Of the bank, the stranger introduce
| l:-...IS -. &c AH. Hl.-L of Nou York VI