Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-12-11

i'm the vaults of the subtreasury here
ever since the civil war a musty ole
document was discovered by George s
Terry, assistant treasurer of the United
States, few days age which throw:
an interesting light on the manner II
which the government in the fall of iS6.
obtained funds with which to defray the
expenses of the Army of the Potomac
and enable it to continue its advance
against the Confederate troops.
At this time the success or failure OF
the northern army seemed to depend or
war.
Bankers Loaned $12, 100000
The document is the original record OF
sums subscribed by the banks here on a
call by the government on the bankers OF
New York for loan of s12,OoO.OOo. This
paper bears the sums subscribed and the
original signatures of more than fifty Of
the leading bankers, pledging themselves
for sums ranging from S25,ND to $780,
go.
The document is now in Mr.. Terry's
possession, and will be preserved by him
as an important historical record. 1t will
be framed and hung with several valra-
Ole prints OF Ol0 New 1OTk NuiCil WI .
Terry has in his private office.
Some of the signatures on the old rec
ords are those of former presidents OF
New Yorks banking institutions, some
of bank treasurers and some of cashiers,
most of whom are now dead. Many OF
the signatures are difficult TO read.
Many of the banks mentioned in the
record have changed their names since
war times. Some of them have, from q
small beginning. grown into powerful
banking institutions.
Found in Old Tin Box.
The old tin box was noticed one day
this week by one of the treasury en-
ployes while lie was moving bags >of
money The box itself looked interesting.
Mr. Terry was notified and he began
delving into 1t. In sheaf OF other old
documents relating to the manner in
which the business OF the subtreasury
was conducted in war time, Mr.. Terry
came across the record or that big loan
to the government.
The document bears the date OF No
vember II. 1867 Most of one side of a
large sheet of paper is filled with the
writing of one of the subtreasury's for
mer officials, explaining the nature Of
the record, and with the names of some
fifty banks, the sums subscribed by each
and the signature of the president, cash
Ter or treasurer, pledging themselves to
deposit on that day with the assistant
treasurer in this city the amount set
tofsr OF tie ire where the name of
their bank occurs
Cisco Arranged Loan.
The assistant treasurer here at that
time was John J. Cisco. and it was to him
that the Secretary OF the Treasury IN
We shington intrustcd the mission Of gath
er!n2 quickly the s12.0OO,OO0 needed at
once to facilitate the movements Of the
Army of the Potomac.
Tie document begins:
The government has advertised for pro-
posals for some s3.UO,OW seven-thirty
bonds, payable in fifteen days. The Sec
re.ary of the Treasury desires 10 antici-
pate S12,GDO.cC0 Of the proceeds of this
loan by n temporary advance from the
banks. The funds are required for the
prompt payment of the Army OF the Poto-
mac to facilitate it's advance
This was signed: Respectfully yours.
John j. Cisco Below Mr.. Ciscos sig
nature appears this:
In view of the above, the undersigned,
on behalf of their several banks, hereby
agree to deposit this day, IN legal tender
urcr of the United States. the sums sew
erc!ly set opposite to their names, as a
loan to the government for fif-
teen days at > per cent interest"
List of Subscribers.
Then follows the list, the names of the
banks. the amount subscribed by each
and the signatures of the banks repre-
scntatives.
The largest loan was made by the Bank
of Commerce, which SUBSCRIBED 81, 500, 900.
The next largest loan was that of the
American Exchange Bank, S1,UOOOO. Sew
eral banking houses loaEed 100000 each
to the government. The City Bank loaned
s3oo,Oyo. the Bank of America S5OO,OOO,
the Manhattan Company 100000 and the
Eank 100000.
Morris ketcham subscribed Sl,OOO,OOO.
His name and the amount he agreed to
lend the government. pending the arrival
Of the bonds, are entered in lead pencil
Just under the ink-Written list of banks
One item in pencil. following the name
Of Mr.. ketcham, is Boston Extra, $780,
GO" just what this means has not been
ascertained. Samuel Mitchell also appears
in the pencil notations for loan Of
So 600.
Relics in Subtreasury.
times in the subtreasury building. Near
the top of the structure there Is small
room-an arsenal-in which are stored
many cases of Springfield rifles, carbines
Colts revolvers and ammunition enough
for a long siege. Four Calling guns are
also there, covered with heavy canvas
and ready to he mounted on the roof or
in front of the building at a minute 5
notice.
Two of these rapid-fire guns were hur-
ried to the subtreasury during the So
called reign of terror here. when riots
were a daily occurrence and IL was feared
that an attack might be made on the
treasure house. At that time a company
of marines was stationed in front OF the
for many days and nights.
and arms and ammunition were ready in
side for the SubtreaSury employees
Some of those arms are now in the
arsenal near the top OF the subtreasury.
Others have been replaced by more mod
ern weapons. But the same two rapid
fire guns which were ready to repel an
attack during the Manhattan riots are
still there. The other two are OF more
modern make.
The windows of the upper stories OF the
subtreasury are protected by heavy iro..
shutters. In which Sits were cut years
ago and through which rifles could be
poked to repel an outside foe. These iron
shutters were placed in the windows
shortly after the subtreasury was built,
AT that time the building was one OF the
most pretentious structures In that part
of the city. But In late years tile big
have surrounded u. ana the
upper windows Of the subtrczsurN look
out upon walls far higher than the roof
OF the nations treasure hotss Those
Sits in the iron shutters would be of llt''-
use now.
Every few weeks some Of tho subtresN
ur, employes ,iuder instruct Ions from A.