The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1873-01-10

means anu inc Eltiigh'sht in0A'N "
he plainly exposed and everywhere de-
nounced among intelligent and business
men. But the great mass OF voters
would only see and hear that the bank
had failed and one part being proved
TO be- rotten, the whole concern would
beregarded as in like condition. The
insolvency of the United States Bank
would have too much probability with
the masses for it to stem the tide, or Sc
cure n renewal of its charter. And so
$500, 900 were placed at the disposal OF
Clark. with orders to call for Ms much
more as he required, and to take his own
time to complete his work.
As a 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 1t
finishing touches and that was the in
cxorable laws of financial tides, and the
system pursued by the mother bank at
Philadelphia in dealing with its branches
not emitting Nicholas Biddle, Presi-
dent of the mother bank-familiarly
known in the strategy of that notable
war as "Old Nick" This important
consideration seems not to have been
fully studied nor comprehended 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
tails for such honors. 1t 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
bursting every dollar of the national rev.
enues, and with a business credit that
had penetrated even to Hong-Kong.
Nicholas Biddle was the happy individ-
nal upon whom this distinguished honor
fell, and right ably did he sustain his
place and reputation. So, while Broker
Clark was housing around New York,
slyly gathering i'll Savannah Branch
Bank notes, and boarding them, Mich
olas Biddle sat on his golden throne in
the bank parlor at Philadelphia,
Calm As a 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 wei
: as bird's-eye view of the circulation
) and business of the whole. necessary.
1 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 max
5 what follows clear, and incline us to fec
curious over the success of Mr.. Clark
e the broker, in his search for Savannah
Branch notes.
I OF course, "Old Nick" was CONSTANT
c on the alert for his cunning and powerfr
a foes. Like a spider in the center of hi
K net, he watched sharply to see where an
G how it was threatened. Studying over tn
: usual weekly returns one day, he OF
e served this, in the return from on
. branch:
y "We return you less than our averae
q of Savannah Branch notes"
u This was not calculated to arrest an
u special attention. BIT the next week tv
e branch returns said
u "Our return, this week, shows LEI
y than the average of Savannah Branc
y notes"
n 1t may be supposed that Nicholas BIZ
y die turned his eyeglasses upon til
Il second warning with curious interes
3, and when the next week--and the 81
1t ceeding weeks-and every week.
r.
!, steady, wholesale disappearance OF )
n vannah Branch notes from circulate
* was thus proved, We fancy we see q
re Nicholas Biddle place the right digit asi