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Updated: May 13, 2025


There were only two banks in the city; the Bank of New-York, and the branch of the United States Bank. They were charged with being influenced in their discounts by political considerations. At all events, they were under the management and control of federalists; and to counteract their alleged influence, Colonel Burr was anxious for the establishment of a democratic institution.

They went about their business transaction, these two, with the cool abruptness of men, speaking little, and then only of prices, discounts, dating, shipping. Their luncheon conversation of an hour before seemed an impossibility. "You'll have dinner with me to-night?" Emma asked. "Up at my apartment, all cozy?" "Not to-night, dearie. I'll be in bed by eight. I'm not the girl I used to be.

To sell bonds at enormous discounts and high rates of interest was bad; to tax the people directly for the needs of the Government would have ruined the party in power; and to issue fiat money was equivalent to forcing the poor to lend what the rich refused. But the emergency was great. It was decided to issue and float "greenbacks" and also to sell bonds in unprecedented numbers.

It is just as natural for men and women to mate at the proper time, as it is for steers to shed in the spring. But there's no necessity of making all this fuss about it. The Bible way discounts all these modern methods. 'He took unto himself a wife' is the way it describes such events. But now such an occurrence has to be announced, months in advance.

Jonathan told me about it. He looked on the girl as a good investment for his family, and discussed her prospects just as he would have discussed discounts or the money market." Then John went to look after the condition of the cattle and horses on the home farm. He found all in good order, told the farmer he had done well, and made him happy with a few words of praise and appreciation.

"The cashier of the Kosciusko Bank on Grand Street rang me up. He discounts some of our accounts what we sell responsible people, and he asks me that in future I get regular statements from all my customers those that I want to discount their accounts in particular." M. Garfunkel nodded slowly.

Captains of steamers and of other vessels enveloped in the fog would then, on hearing the sound of the bell or gun, know where they were, and would take their bearings from Fifeness accordingly. When that sum was exhausted, it mattered not what further sum was wanted, there were no more discounts allowed that month.

I had the honor of sitting on the Bench of commerce with Monsieur le baron Thibon, chairman of the committee on discounts; and he, most assuredly, would not refuse me. But up to this time I have never made use of my credit or my signature; my signature is virgin, and you know what difficulties that puts in the way of negotiation."

Thirty millions of the capital of the bank are now out, on loans and discounts, in the States on the Mississippi and its waters; ten millions of which are loaned on the discount of bills of exchange, foreign and domestic, and twenty millions on promissory notes. Now, Sir, how is it possible that this vast amount can be collected in so short a period without suffering, by any management whatever?

Really, if you could have seen, as I saw, this joyous gathering of persons who had drawn in their commercial claws, and were speculating only on the pleasures of life, you would have found no cause to hate usurious discounts, or to curse bankruptcies. Mankind can't always be doing evil.

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