The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1889-02-06


half century, stand out before me in
bold relief as remarkably intelligent, en-
terprising. far-seeing, and withal kind
hearted, generous men," Mr.. McCulloch
gives some very interesting "reminiscences
of John B. Richardville. the famous chief
of the Miamis, and discourses pleasantly
of the Indians, the frontiersmen and the
traders who constituted the bulk of the
population of Indiana in the thirties.
Shortly after his arrival in Fort Wayne
the state bank of Indiana was chartered.
Thirteen branches were established-the
eleventh at Fort Wayne, OF which Mr..
McCulloch became cashier and manager
He retained this post until the charter OF
the bank expired, Jan. 1, 1851 1t was
succeeded bv the ''bank of the state OF In
diana" of which Mr.. McCuiloch was the
first president. The bank went out OF ex-
istence in 1868 upon the passage OF the
act OF congress by which notes OF all
banks except national banks were sub
ect to a 10 per cent. tax. Mr.. McCul-
loch devotes considerablespace to history
of the state bank OF Indiana and its sue
cessor, and this is among the most I'M
portant and valuable portion OF the work.
OF the old state bank he saws: 'If the
history of this bank should be written, it
would be both interesting and instructive.
1t would be the history of a bank which,
although established in new state and
committed TO the charge OF inexperienced
men. through periods OF speculation and
depression, prosperous and unprosperous
wears, was so managed as largely to in
crease the wealth OF the state, and secure
for itself a reputation for honorable deal
ings and fidelity to its engagements which
placed it in the first rank OF wisely
and honorably conducted banking insti-
tutions. OF its managers, my associates
some of them for nearly quarter OF
century-my recollections are OF the
pleasantest nature. More upright trust
worthy men could not be found any
where. There may have been, there may
be now, better bankers; but, wide as my
acquaintance and observation have been.
it has not been my good fortune to meet
them. Merrill and Ray, the president
and cashier OF the bank Lanier, Fletcher,
Blanchard, Dunning, Fitch, Ball, Ratti-
bone, Ross, Burkham, Orr, Rector,
Chaplin and others, directors OF
the bank and managers OF the
branches, were all of them men OF
sterling qualities and great aptitude for
business. In this bank there was no be-
travail OF trust, and only one single IN
stance was there of official dishonesty.
At the quarterly meetings OF the directors
of the bank at indianapolis, at which all
the branches were represented, the bal
ances between the banks were adjusted.
Very frequently considerable amounts
passed from hand to hand in these adjust
ments, and such was the confidence which
the directors had in each other that no re-
ceipts were ever given. Each entered
upon his memorandum book his payments
and receipts, and in no case was this con-
fidence found to have been misplaced"
In April, 1865, Mr. McCulloch termin-
ated his residence in Indiana and entered
a broader sphere of action. Immediately
after the national banking law was passed
Mr.. McCulloch was rendered, and ac-
cepted the Office OF comptroller OF the
| currency, whose arduous duties he per-
formed with signal ability and dis
tinguished success. When Mr.. Lincoln
entered upon his second term, March I,
| 1865, he appointed Mr. McCulloch secre-
tary of the treasury, which position he re-
tanned throughout Mr.. JOhnsons admins
tration. In 1870 he went to England, and
for six or seven years he was engaged in
the banking business in London rs
a partner of Jay Cooke. After
his return he did not engage in active
| business. In October, 1884, President
Arthur rendered him the secretaryship
of the treasury. NIr. McCulloch &C
| cepted the office and fulfilled its
duties until Mr.. Cleveland succeeded to
the presidency, when he withdrew TO his
country seat in Maryland, where he is
spending in peaceful and dignified retire
ment the closing years OF his active and
distinguished life.
His book is full of interesting informa-
ton about the public men and affairs of
the last quarter of a century. As a cabi-
net officer under three presidents, Mr..
AIcCulloch's opportunities for full and ac-
curate knowledge of the events of which
he writes were Of the best. His estimate
of the public men with whom he has
| been brought in contact-of Lincoln and
Johnson, Grant and Arthur, Chase, Fes-
| sender and others-differing very materi-
ally, as to some of them, from the popular
estimate, are the results of intimate
personal acquaintance. and will certainly
impress the unprejudiced reader as being
eminently fair and Just. Mr.. McCulloch
writes of these and other prominent
| figures in our recent history very freely.
with an evident purpose to give the world
the right measure OF their characters and
abilities. He expresses his views upon
the public questions of the past and pres
ent without reserve, and with great clear
ness and force The tariff question he
| handles with special ability. As the re-
suit of his wide observation and
thorough study OF this subject, he de-
| Clares, with great emphasis, that
| the tariff ought to be reduced to
a revenue standard, and that adherence to
/ the present policy of high protection for
any considerable period must bring dis
aster upon the country. Coming from
an old wing and original republican, and
| from one of Mr.. McCulloch's great ability
as a fnancier and economist and large ex-
| perience in practical affairs, and who is,
| withal beyond the influence of personal
| ambition or selfish motives of any kind
this opinion ought to have great weight
with the American people.
Among the most readable portions of
| Mr. McCulloch's book are the chapters
| devoted to his life in England, in which
| he gives his impressions of Gladstone,
John Bright and other leading British
statesmen, and the chapter about Henry
| Ward Beecher, with whom Mr.. Nc
| CuliOch was on terms of intimacy for half
a century, and for whose genius and char
acter his admiration was unbounded.
| New York: Charles Scribner's Sons
Not So Namby-Pamby.
[The Epoch
Waiter ITO ustOmer)-"Well, sab, what'll be
| next" Customer-"Well-er-I don't know
| what I do Wantn Waiter-"I can give voi