These three persons are the only ones who have been charged with
fraudulent and illegal transactions leading to these financial
disasters. The Metropolitan bank, thanks to the agency and the
aid that was given in a trying time, in now going on and doing
business as of old, no doubt having met with large losses.
"It is a matter of satisfaction that with the single exception of
the Marine Bank, of New York, no national bank has been overwhelmed
by this disaster. It is true that the Second National Bank was
bankrupted by the crimes and wrongs of John C. Eno, but his father,
with a sensitive pride not to allow innocent persons to suffer from
the misconduct of his son, with a spirit really worthy of commendation,
here or anywhere else, threw a large sum of money into the maelstrom
and saved not only the credit of the bank and advanced his own
credit, but to some extent, as far as he could at least, expiated
the fault, the folly, and the crime of his son. The Metropolitan
Bank is relieved from its embarrassments by its associate banks.
The losses caused by the speculations of its president did not
entirely fall upon the bank. That bank, now relived from the
pressure of unexpected demands, is pursuing its even tenor. It
seems to me that all these facts taken together show the strength
and confidence that may well be reposed in the national banking
system. The law cannot entirely prevent fraud and crime, but it
has guarded the public from the results of such offense far better
than any previous system."
On the 10th of May, 1884, which happened to be my birthday, the
statue of John Marshall, formerly Chief Justice of the United
States, was dedicated. This is a bronze statue in a sitting posture,
erected by the bar of Philadelphia and the Congress of the United
States. A fund had been collected shortly after the death of
Marshall, but it was insufficient to erect a suitable monument,
and it was placed in the hands of trustees and invested as "The
Marshall Memorial Fund." On the death of the last of the trustees,
Peter McCall, it was found that the fund had, by honest stewardship,
increased sevenfold its original amount. This sum, with an equal
amount appropriated by Congress, was applied to the erection of a
statue to the memory of Chief Justice Marshall, to be placed in a
suitable reservation in the city of Washington. The artist who
executed this work was W. W. Story, a son of the late Justice Story
of the Supr
|