Phenix Gazette

The Savannah Republican states that, among the many transfers of Macon bills by the knowing ones after the failure, was the following, which they have on the authority of persons living near the spot. A person in Habersham county had between two and three thousand dollars in these bills, when he got a letter announcing the failure or intended stoppage.

He immediately hired a person to ride express into Tennessee to buy up U. S. Bank notes at any premium without telling him what had occurred. The agent got the whole off at a moderate discount, and on his way back he met the news of the failure, when he reinvested the capital, excepting about $500 again at a discount of over 50 per cent. Returning to his conscientious employer, this faithful steward said the bills were somehow in bad odor, and he could only purchase $500! and thus he pockets some eight or nine hundred dollars by his integrity.

Before the news of the failure was generally known in the upper country, debts were paid that were doubtful and even desperate, property was sold for prices before thought extravagant, negroes in particular as being easy of transfer, sold exceedingly well. Among these frauds were some truly distressing cases of individual suffering and even ruin.-Balt. Gaz.