The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1919-12-29
s. 0RY OF HOW
BURR PUT OVER
A B | c D { A |
iNt-RY BETWEEN HsNll.,
TO\ A\D The LITTLE IN
IRlGt ER" FINALLY RE
SUITED IN DEATH OF
FORMER IN DUEL

New YORK, Dec. ~. -Recollections
OF the political fead ~hich resulted In
tAe duet between Alexander Hamilton
and Arron Barr al w'eeha vixen. ~ j..
in 1864 have been revived here b. the
merger Of the Manhattan Company
and the Merchants National Banks.
two cf the oldest financial institutions
in New yOrs
For more than III years e two ss-
tablishmenfs have dweIt side by side
az ~ and is Wall Street end in iSS2
they united in the construction OF
the new butiding which they have
occupied jointly ever since. In tie
union Of these one time rival ins;i
tu,ions the metropolis loses probably
the last tangible trace OF the most
famous OF early American aatag0n-
isms Although the banks themselves
have long since buried the hatchef :"
there vas q time when they were
neishbors in Eame only--wAen the
mere suggestion of their getting to-
gether would have been dismissed un-
thinkaoie
Burr was elected 10 the New York
legislature in i.91 when the state and
city we're controlled by Hemil,on as
the leader Of the Federalists. Ham
nton sad helped to establish in Nov
York brancA OF the Bank OF the
United States This was then the
only banking institution in New YORK
City. The institutions was controlled
so the republicans lead By Burr al
legged. 6y the Federaiists who were
cAalssesi with using their ftnarcial
powers for fatherance OF the Federal
ist cause Tha political Ambitions oi
the .EEstle intrigner at Albany caus-
ed him 10 desire 20 break thgvugh tbs
banking ring which haired all anti
FeAeralisss Aanks from New FORK and
his opportunity came In 1888. In that
year p introduced a bill In the iegis-
lasure which authorized the granting
of charter to a company which was
cstensIbly to be formed for the pur-
pose 81 improving the water supply OF
View YORK City. The city. ten with a
population Of se.ael. had Just passed
through a severe epidemic and Burr's
project quickly met with popular ap-
provaL The real object OF the Man
haitian Company was to supply repub-
Leans with the sinews OF war
Republican merchants. il was said
were Disseminated against by the
FederaIistis bank whereas their Fed
eraIiss competitors were freely accom-
odated when they sought funds to car
ry on their business. The afroitness
which Burr employed 10 obtain .
charter was emphasized BY the fact
that tire rederziIst had a majority In
the legislature Hence the commission
OF the word bank from the Manhatsen
Company
The petition for the proposed water
works company stated that as Il was
no, known how much capital would
be required, the proiecsors did not
want to risk failure by . deficiency
OF capital and. therefore. asked su-
,hority to raise 32eoaow1 Inserted in
the charter was a provision Of Burr's
that the surplus eapitsl may be en-
ployed in any wav not Inconsistent
with she laws OF the Constitution o.
the United States or OF the s.1te Of
New York
The senate and house passed the
bin expeditiously. few merssers eve
taking tie time to read It. and none
except those Who we're in the secret
spspectins Us real purpoee. Burrs