The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1881-07-23
Our Olio.
Wild Banking.


Adams & CO. and the Adams Express
Company did very profitable business in
receiving from brokers and others notes OF
the several banks of the country and pre-
sentiug them Tor redemption, charging
double rates for this business. At that
time there was a class of banks in Indiana
known as free banks. Any person who
could purchase $4,000 worth of bonds
could deposit them with the Auditor Of
State, and receive that amount of bauk
notes ready for circulation when signed by
the banks president and cashier, and
these notes we're redeemable only at the
counter of the bank. 1t was an object,
therefore, to the bankers to place the bank
where it would be difficult to get at, and
then loan out its notes and let them cir
culate as money. Under instructions L
kept three or four men ready to start on
a moments notice to hunt up these banks,
and present their notes. Many of them
were located in towns which had no exist
ence except on paper, and were very dith-
cult to find At one time when all my
men were away, except one who was sick,
| received package of $1,000 on the
Bank of Morocco. This bank, l learned
from the State Auditor, was located on
the Grand Prairie, about fifty miles west
of Lafayette, aud one hundred and TWEEN
ty-Gve miles from indianapolis. The La
fayette and indianapolis Railroad was
then running about thirty miles Of that
distance, aud the rest of the way had to
be travelled on horseback and by coach.
Procuring horse at Lafayette, | started
west through the prairie with scarcely a
track to guide me, with $1,000 In my
pocket, and | did not find a person who
had ever heard of Morocco, until | reach
ed the little town of Rensselaer,, where L
finally got some information.
Pushing on until nearly night | saw be-
fore me two log buildings, and, riding up
to one, which proved to be a blacksmith's S
shop, l inquired the way TO Morocco
The smith told me l was already in the
town, and inquired where the bank was
located. He informed me that he kept
the bank in his house, aud asked what L
wanted. told him. 1t was then dark,
aud had no alternative but to stay with
him all night, though he told me his ae-
commodaiions for travellers were very
poor. He turned my horse out on the
prairie to Craze, and | got a very coed
supper at his house 1t was very warm,
and he made bed on the prairie where
We both slept was little uneasy about
sleeping out on the prairie with $1,000 in
my pocket, and he offered to put it in the
bank and did So In the morning, after a
very good breakfast, We proceeded to the
business for which | came. He went in
one corner of the log cabin and commenc-
ed taking potatoes out of barrel, and
after taking out 4 bushel or more, produe-
ed my package, and sat down at the table
and counted it. Satisfied he was right,
he went TO the same potato barrel aud
soon produced bag of gold which was
marked $4,000 aud counted out fifty $50
gold pieces and handed them down to me.
and put the notes and his bag of gold back
into the barrel, aud covered IL with the
potatoes. After receiving my money l
asked him for his bill for meals, lodging
aud horse feed, but he refused to take any
thing aud remarked, "You are the FIRST
person who ever found the Bank Of Mo-
rocco, and if you viii keep its location to
yourself | am satisfied" promised to
DO so aud left for home. Mr.. Dunn, Au-
ditor of the State, told me afterward that
several persons had tried to find the Bank
Of Morocco, but he thought was the only
one who had sueeeeded.-EaPresswag 8
HogfhfE.