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Alexandria, Virginia
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In Cincinnati, a sly Yankee from Pittsburgh cleverly mocks Piatt's Bank by demanding specie for their worthless notes and sarcastically requesting counterfeits, exposing widespread banking fraud; editorial calls for rejecting such notes to end the exploitative paper system. (248 characters)
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There came down the river to this place a few days ago, a man from Pittsburgh.
He was, what they here call "a pretty sleek Yankee." He brought with him 1000 dollars in the notes of Piatt's bank. On his arrival he went immediately to the bank and demanded specie, which was refused.
He expressed much surprize that they should refuse specie, and began to walk backward and forward in the bank. After a short time he asked them to exchange for notes on banks that paid specie. This was also refused. He then told them, that if they had any notes of Owl Creek, Wooster or Uniontown, he would rather have them, than their notes. This affronted them very much; and they said, they did not suffer strangers to insult them in their bank! Our Yankee then apologized and declared, he by no means intended to insult, but, if they had any well executed counterfeit notes on any good banks they would very much oblige him, by exchanging. This affronted them so highly that they ordered him out, which he complied with, after taking a few more turns back ward and forward in the bank.
If this was the only bank in the state, where fraud is accompanied with insolence, the evil, being confined to a small circle, might be patiently borne. But when similar scenes almost daily occur in every part of the state that is cursed with one of these pretended Banks, it is high time for the people to consult their own safety, by steadily refusing to receive the notes of all banks that do not pay when called upon.
In the present deranged state of the money concerns of this country, it is not safe to receive the notes of a bank, or pretended bank, whose funds and general conduct are unknown to us. We have, long enough, been the blind dupes of a set of men, who, by means of an artful "paper system," have taxed the community to an amount far exceeding the taxes imposed by government And for what reason do we acquiesce in this "paper system" tax? Is it expended in making roads; (so much needed) in erecting manufactories; in promoting domestic industry? No! The tax thus raised from the laboring part of the community, is exclusively appropriated to the purchase of foreign goods; many of them useless, some of them pernicious; while our own citizens are discouraged from endeavoring to supply the real wants of the country.
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Location
Cincinnati
Event Date
August 20
Story Details
A Yankee from Pittsburgh arrives in Cincinnati with $1000 in Piatt's bank notes, demands specie which is refused, then mockingly requests exchanges for other bad notes or counterfeits, leading to his ejection; commentary urges refusing notes from non-specie-paying banks to combat the fraudulent paper system taxing the community for foreign goods.