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Updated: May 20, 2025
But, on writing up our books that night, we found that our deposit account had diminished about sixty-five thousand dollars. For some days we had refused all loans and renewals, and we tried, without, success, some of our call-loans; but, like Hotspur's spirits, they would not come. Of these, at least one hundred thousand dollars were on demand, with stock collaterals.
For as to the Bar, though it be compounded of the same matter and designed for the same use, it cannot, however, be well allowed the honour of a fourth, by reason of its level or inferior situation exposing it to perpetual interruption from collaterals. Neither can the Bench itself, though raised to a proper eminency, put in a better claim, whatever its advocates insist on.
Western stocks and securities tumbled to such a figure, that all Western banks that held such securities, and had procured advances thereon, were compelled to pay up or substitute increased collaterals. Our own house was not a borrower in New York at all, but many of our Western correspondents were, and it taxed my tune to watch their interests.
If, on the contrary, we recognize and sustain the new government of Louisiana, the converse of all this is made true." While, however, Mr. Lincoln thus upheld and defended this Louisiana plan of reconstruction, yet he conceded that in applying it to other States, with their varying conditions, "no exclusive and inflexible plan can safely be prescribed as to details and collaterals."
Western stocks and securities tumbled to such a figure, that all Western banks that held such securities, and had procured advances thereon, were compelled to pay up or substitute increased collaterals. Our own house was not a borrower in New York at all, but many of our Western correspondents were, and it taxed my tune to watch their interests.
Western stocks and securities tumbled to such a figure, that all Western banks that held such securities, and had procured advances thereon, were compelled to pay up or substitute increased collaterals. Our own house was not a borrower in New York at all, but many of our Western correspondents were, and it taxed my tune to watch their interests.
The corner in Muscogee Air Line, was as evasive as a huckleberry in a mouth bereft of its armament. Indeed, to use still further the homely but suggestive figure, the General found that his tongue was in more danger than his huckleberry. His notes, too, secured by fraudulent collaterals, were approaching a second and third maturity.
"So new and unprecedented is the whole case," he concluded, "that no exclusive and inflexible plan can safely be prescribed as to details and collaterals. Such exclusive and inflexible plan would surely become a new entanglement. Important principles may and must be inflexible. In the present situation, as the phrase goes, it may be my duty to make some new announcement to the people of the South.
But whilst the Hudson's Bay Company's territorial rights and those of Great Britain had been at last transferred to the Dominion, there remained inextinguished the most intrinsic of all, viz., the rights of the Indians and their collaterals to their native and traditional soil.
Our bank, having thus passed so well through the crisis, took at once a first rank; but these bank failures had caused so many mercantile losses, and had led to such an utter downfall in the value of real estate, that everybody lost more or less money by bad debts, by depreciation of stocks and collaterals, that became unsalable, if not worthless.
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