Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-04

mat q board of Army officers had condemned
The proposition to buy the Mason property
upon the ground mainly that it was too con-
tracted for Government use"
Sufice to say that the Government did NOT
buy Mr.. MaSons foundry, and that gentleman
continued to own it up to the time Of his
death in 1849.
We who look upon the present period OF
depression as q condition which has never
before existed in this country, do 50 because
wo are not even slightly familiar with the
financial history of the United States, m
which, Of course, we are especially interested.
The writer's personal recollections regarding
such outstanding periods of depression, carries
him back to the second administration OF
Grover Cleveland, 1893-1897, when in order %
carry on the affairs of the Government. u
was necessary for uncle Sam to borrow Of
the firm of J. Pierpont Morgan $500. 600 600.
which, If the writer's memory serves him cor
eectY was borrowed in two separate loans,
coming close together.
Where the writer claims definite recOa-
lection of events as far back as 1873, he does
yividly recall to an extent the results Of the
great national panic which broke that year,
since for at least a decade following that date
partly finished rows OF houses all over the city
could be seen, as q Afect result Of the closing
Of the doors of To First National Bank. o
branch Of Jay Cooke & Co, located In this
city. In some only the cellars had been
dug, and these the boys often waded in, and
sometimes swan in when they filled up sum
ciently with water after heavy rains. To many.
at that period, bread and molaSSeS was lux
ury, and the mechanic with a job paying
dollar and q quarter a day was = lucky man,
and when he received it he usually took It all
home where it greatly needed for the vile
Ind the kiddies.
Out Of It all, however-after the depression
had run its course-gradually came prosperity
and with the exception of the depression dur
ing Cieveland's second term, continued for Q
quarter Of o century
THOSE who today are grieving over losing
u their money the stock market, should
turn back the pages of history and see how
BONE Of their ancestors-n they belong to an
Cid Washington family-lost their money IN
ahs construction Of the Chesapeake and Ohio
and the Washington City Canals Christian
Zines, who wrote EARLY Recollections Of
Washington City" and his brother. Matthew,
Who served in the District Legslature-And
who were brothers to the writer's great grand
unOthef-lost every cent they had In believing
what they were told about the great future OF
these canals. All Christian had ut the time
a his death was a small pension given him
by the Government for his services In the Sec
0nd war with Great Britain and Matthew prob
ably had the same, as he also fought" at
Bladensburg.
As early as ITO George Washington enthu-
eiastically championed the idea Of building
canals along the upper Potomac, particularly
for the purpose Of assisting Maryland and VIZ
ginia, in getting control Of the commerce then
fas& developing in the nearby western country
He was not alone in his judgment and %. In
1TT2 when John Ballendine, who owned .
tract at Little Falls called Amsterdam, called
Tor subscribers for financing a plan which he
had In mind to make the river navigable above
tide water Washington is noted as the FIRST
subscriber to the amount of 500 pounds, Vir-
ginia currency. the other names on the list
and the amounts subscribed being:
sRalph womley 500 pounds, virginia cur
rency.
tn Johnson jr- for self and Mr L. jacques.
400 pounds, Pa. currency.
George Piaix, 800 pounds. currency.
g. Rideout. 200 pounds currency.
currency.
Nayid Ross for the Fredericksbury Company,
500 pounds. Pa currency.
David Ross for himself 800 pounds. Pa cur
rency.
currency.
Benjamin Dulaney 500 pounds. Pa. money.
Thomas Ringgold 1000 pounds Pa. currency.
W. Elzey. 100 pounds
Jonas Chaplain, 100 pounds Virginia currency
william Deskins Jr., 100 pounds-dollars ut
Is. Cd.
Joseph Chapline, SO pounds, common current
money.
Thomas Richardson, so pounds, Pa. currency.
Thomas Johns, SO pounds, common current
money
Adam Stephen, 200 pounds, Pa. currency.
Robert and Thomas Rutherfore, 100 pounds.
Pa. currency
Francis Deakins, 100 pounds common cur
rency Of Maryland.
On Carroll Of CarroIlton, 1000 pounds-dOa-
iars at Ts Sd"