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A PIONEER MINISTER BY REV. SUPPLY CHASE
APRIL 21, 1873
A few weeks, and the balloon was inflated: men became excited; money was plenty; every man who had real estate to mortgage could become speedily rich. The price of land rose; produce rose; it was flood-tide; a glorious morning had dawned; ' the era of wild cats had come; men sold their farms or other property at great advances, and hastened to re-invest, for they knew not how-long-. their beautiful promises to pay would be of any value. The notes were not permitted to circulate, to any extent, in the immediate vicinity of the place where the bank was located, but were sent as far from home as possible. The bank commissioner made his examination, the box of specie was brought out and counted, the record made, and while the officer was entertained by the gentlemanly proprietors, it was said that the box of coin was taken out the back way, and started on its way to the other institutions, to be counted and sworn to again and again, until the circuit had been completed. But it was not long before the bills began to find their way back, and they were like "curses which come home to roost. " Those who held them wanted the specie for them, so the promise ran, but the bank had little or none. You must wait. We shall have some in a few days. But it never came.
Michigan
Page 15
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