The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1881-08-25
The wonderrul Bank Of Morocco.

y. Woodman gives this reminiscence
In the EapreSsmam's Monthly: Adams
%. and the Adams express company
did very profitable business in receiv.
ing from brokers and others notes of
the several banks of the country and
presenting them for redemption, chare-
ing double rates for this business. At
that time there were class of banks in
Indiana known as free banks. Any per.
son who could purchase $4,000 worth
of bonds could deposit them with the
auditor of state and receive that amount
IN bank notes ready for circulation
when signed by the banks president
and cashier, and these notes were re-
deemable only at the counter of the
bank 1t was an object, therefore, to
the bankers to place the bank where il
would be difficult to get at, and then
loan out its notes and let them circulate
as money. Under instructions 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 ex-
lstence except on paper, and were very
difficult to find. At one time when all
my men were away, except one who was
sick, l received a package containing
$1,000 on the bank of Morocco. This
bank, learned from the state auditor.
was located on the Grand Prairie, about
hfty miles west of Lafayette and one
hundred and twenty-five miles from
indianapolis. The Lafayette and Indi-
anapolis railroad was then running
about fifty miles of that distance, and
the rest of the way had to be travelled on
horseback and coach. Procuring a
horse at Lafayette, I started vest
through the prairie with scarcely track
to guide me, with 81 900 in my pocket,
and l did not find a person who had
ever heard of Morocco until reached
the little town of Rensselaer,, where l
finally got some information.
Pushing on until nearly night saw
before me two log buildings, and riding
up to one, which proved to be a black
smith shop, l inquired the way to Nor
occo. The smith told me was already
in the town, and 1 inquired where the
bank was located. He informed me
that he kept the bank in his house, and
asked what wanted. I told him. It
was then dark, and / had no alternative
but to stay with him all night, though
he told me his accommodations for
travellers were very poor. He turned
my horse out on the prairie to Craze,
and L got very good supper at his
house. 1t was very warm, and he made
a bed on the prairie, where we both
slept. Yves little uneasy about Sleep
ing out on the open plain with money
in my pocket, and he offered to put it in
the bank and did so. In the morning
after very comfortable breakfast, we
proceeded to the business for which I
came. He went to one corner of the
log cabin and commenced taking pota-
toes out OF barrel, and after taking
out bushel or more, produced bag of
gold which was marked $4,000 and
counted out fifty $50 gold pieces, and
handed them to me and put the notes
and his bag of gold back into the barrel
and covered with the potatoes. After
receiving my money 1 asked him for his
bill for meals, lodging and horse feed,
but he refused to take anything and re-
marked: "You are the first person who
ever found the Bank of Morocco, and if
you will keep its location to yourself I
am satisfied" promised to do so and
left for home. Mr.. Dunn c-ditor of
state, told me afterward that several
persons had tried to find the Bank of
Morocco, but he thought was the only
one who had succeeded.