Thank you for visiting SNEWPapers!
Sign up free
Story
February 3, 1834
The Daily Cincinnati Republican, And Commercial Register
Cincinnati, Hamilton County, Ohio
What is this article about?
A ukase from Nicholas Biddle orders the U.S. Bank branch in town to aggressively collect debts, reducing $150,000 within a month, despite recent payments by citizens in late 1833. Local directors pledge to balance bank interests with community welfare.
Clipping
OCR Quality
98%
Excellent
Full Text
UKASE OF THE AUTOCRAT.
On Friday last, a ukase was received in this town from the great Nicholas Biddle, commanding the Board of Directors of the Branch of the U. S. Bank, to apply the screws strongly and efficiently, on all its debts.
The citizens of this place had just began to feel, as they had complied with the ukase of November and paid into Bank between two and three hundred thousand dollars, according to order, on or before the 1st January, 1834, that they would have a breathing time for a few months—but contrary to all expectation, the new ukase has arrived commanding a reduction, as it is publicly reported, of one hundred and fifty thousand dollars, within the next month.
Our personal knowledge of the gentlemen composing the Board of Directors, warrants us in saying that, however much they may feel disposed to conform to the requisitions of the Bank at Philadelphia, yet there is a point beyond which they will not go, and that point is the true interest of the Bank, as a creditor in this community, and the welfare of the community itself. They will proceed and collect in what is due the Bank, as fast as it is either prudent or proper to do it; but will not subject themselves and their fellow citizens to deep injury, for the mere gratification of the Dictator Autocrat, NICHOLAS BIDDLE.
On Friday last, a ukase was received in this town from the great Nicholas Biddle, commanding the Board of Directors of the Branch of the U. S. Bank, to apply the screws strongly and efficiently, on all its debts.
The citizens of this place had just began to feel, as they had complied with the ukase of November and paid into Bank between two and three hundred thousand dollars, according to order, on or before the 1st January, 1834, that they would have a breathing time for a few months—but contrary to all expectation, the new ukase has arrived commanding a reduction, as it is publicly reported, of one hundred and fifty thousand dollars, within the next month.
Our personal knowledge of the gentlemen composing the Board of Directors, warrants us in saying that, however much they may feel disposed to conform to the requisitions of the Bank at Philadelphia, yet there is a point beyond which they will not go, and that point is the true interest of the Bank, as a creditor in this community, and the welfare of the community itself. They will proceed and collect in what is due the Bank, as fast as it is either prudent or proper to do it; but will not subject themselves and their fellow citizens to deep injury, for the mere gratification of the Dictator Autocrat, NICHOLAS BIDDLE.
What sub-type of article is it?
Historical Event
What themes does it cover?
Misfortune
Justice
What keywords are associated?
Ukase
Nicholas Biddle
U.S. Bank
Debt Collection
1834
What entities or persons were involved?
Nicholas Biddle
Board Of Directors
Where did it happen?
This Town
Story Details
Key Persons
Nicholas Biddle
Board Of Directors
Location
This Town
Event Date
On Or Before The 1st January, 1834
Story Details
Nicholas Biddle issues a ukase commanding the local U.S. Bank branch to collect debts aggressively, requiring $150,000 reduction in the next month, following citizens' prior compliance with November ukase payments of $200,000-$300,000. Directors vow to act prudently without harming the community.