Thank you for visiting SNEWPapers!
Sign up free
Story
June 14, 1837
Alexandria Gazette
Alexandria, Alexandria County, District Of Columbia
What is this article about?
Satirical commentary on Treasury Secretary Woodbury's notice about handling claims via drafts on deposit banks, likened to a humorous anecdote of a note holder futilely demanding payment from the failed Owl Creek Bank, escalating to requesting counterfeits.
Clipping
OCR Quality
95%
Excellent
Full Text
In the Treasury "Notice" lately issued by Mr. Woodbury and the Owl Creek Bank.
Mr. Woodbury, he states, in substance, he shall first cause a draft to be given on some Deposit Bank near where the person holding the claim resides, which he may be taken to the Receiver, who is authorized to receive it in payment of the claim; but, if this should not be done, the draft is to be arranged and this should be for the purpose of the holder, the draft is to be "redeemed"—who promises to apply to Congress, and see whether they will do any thing in the premises.
This puts us in mind of a transaction said to have occurred at the Owl Creek Bank, shortly after that celebrated institution stopped payment. A holder of some of the notes called upon the Cashier and demanded the specie.
"Wholly out of our power," said the Cashier.
"Well then," replied the holder, "perhaps you could let me have notes on the Columbus Bank;" (which was then paying specie.)
"Sorry we can't oblige you," rejoined the Cashier.
"I'll take Chillicothe notes;" (which were below par.)
"Haven't one, 'pon my soul," said the Cashier.
"In that case, it would be an accommodation if you could pay me in notes on any respectable broken Bank."
"Just paid out the last," responded the Cashier.
"Step this way," said the holder; and leaning across the counter, he whispered in the ear of the Cashier, "maybe, you could let me have some pretty well executed counterfeits!"—Nashville Banner.
Mr. Woodbury, he states, in substance, he shall first cause a draft to be given on some Deposit Bank near where the person holding the claim resides, which he may be taken to the Receiver, who is authorized to receive it in payment of the claim; but, if this should not be done, the draft is to be arranged and this should be for the purpose of the holder, the draft is to be "redeemed"—who promises to apply to Congress, and see whether they will do any thing in the premises.
This puts us in mind of a transaction said to have occurred at the Owl Creek Bank, shortly after that celebrated institution stopped payment. A holder of some of the notes called upon the Cashier and demanded the specie.
"Wholly out of our power," said the Cashier.
"Well then," replied the holder, "perhaps you could let me have notes on the Columbus Bank;" (which was then paying specie.)
"Sorry we can't oblige you," rejoined the Cashier.
"I'll take Chillicothe notes;" (which were below par.)
"Haven't one, 'pon my soul," said the Cashier.
"In that case, it would be an accommodation if you could pay me in notes on any respectable broken Bank."
"Just paid out the last," responded the Cashier.
"Step this way," said the holder; and leaning across the counter, he whispered in the ear of the Cashier, "maybe, you could let me have some pretty well executed counterfeits!"—Nashville Banner.
What sub-type of article is it?
Deception Fraud
Curiosity
What themes does it cover?
Deception
Misfortune
What keywords are associated?
Bank Failure
Humorous Anecdote
Treasury Notice
Counterfeit Notes
Draft Redemption
What entities or persons were involved?
Mr. Woodbury
Cashier
Holder
Where did it happen?
Owl Creek Bank
Story Details
Key Persons
Mr. Woodbury
Cashier
Holder
Location
Owl Creek Bank
Story Details
A note holder demands payment from the failed Owl Creek Bank's cashier, who can't provide specie, notes from solvent or broken banks, leading to a whispered request for counterfeits, satirizing Treasury handling of claims.