Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1912-07-29

stood two mnrksmen. their guns train
ed Oh the mob below. Yet the rioters
came on until they were within ten
yards OF the bank gates. Then sharp
and clear above the frightful din rose
the order to fire. and from the win
dows poured a deadly volley. When
the smoke finally cleared away $50
lay dead or dying IN the open space
now covered by the espIanade OF the
Royal Exchange The attacking army
wavered. stopped. broke line and fed.
and the Gordon riots were nj an end.
During the first part Of the reign OF
George II. It was the practice Of all
banks to give a receipt in payment of
a deposit. the receipts being passed
from hand to hand and serving the
same purpose as the check OF today.
At that time Childs' bank. a private
concern. which had the backing OF
great part OF the English nobility. ex-
hibited such signs Of future greatness
that the Bank of England became
greatly alarmed. especially in view Of
the fact that the "Oid Lady's" notes
were at a discount of 10 per cent. So
I
the managers Of the Bank of England
bought up every receipt bearing the
| Cbllds signature. allowing the collec-
1 tons TO accumulate each year until the
| time should be ripe. during shortage
OF gold. TO present the receipts in one
great mass for payment 1t was deem
ed q certainty that Childs' would not
be able to meet the demand and would
/ thus be ruined.
The principal figure in the drama
| that ensued was no other than the IA
nous Sarah Jennings. in whom Childs'
\ bank found its stanchest supporter.
! One night there came n wild changing
/ at the bell of the great gate OF the
! town OF Blenheim-a Changing that soon
| awakened every one in the town.
white faced. travel stained man stag
/ gered into the ducal hall. begging an
/ audience with her grace. When the
/ duchess. in her dressing gown. appear
| ed. demanding TO know the reason for
| this unseemly visitation. the man ex-
; planned that the Bank Of England held
the Childs receipts in the amount of
/ EG20 600. that those receipts would be
presented for payment at noon follow
ing. that there was not at Childs'
enough gold TO meet them. that IN
less the demand could be satisfied with
in eight hours ChildS' was ruined and
that there was but one person in the
world-her grace-to whom they might
turn.
Whereupon the redoubtable duchess
sat down and wrote out a check. which
she handed TO the agent 1t was an
order on the Bank Of England for the
payment OF 100000. He was instruct
ed to take this check TO the Bank of
England and to say that II it hesitated
for a single instant in paying It the
duchess would proclaim It as q de-
( faulter
AT II O'Clock that day there appear
ed at the Childs counter an agent Of
the Bank Of England bearing a big bag
full OF receipts and blsndly suggesting
immediate payment At the same mo-
ment the Cbilds' agent was in Thread
needle street receiving cash on the
check of the duchess.
The cashiers at Childs' naturally took
their own time in scrutinizing the re-
ceipts, spending fully half an hour over
the irst batch alone. They were at the
end OF the drst hundred when their
messenger arrived. Then they quick
ened the procedure little. and within
ten minutes the Bank OF England had
been paid In its own coin. The net
result was that Childs' was many thou
sands OF pounds 1cher.-Harper'A