Leading events of Maryland history; with topical analyses, references, and questions for original thought and research . T1\ i; PETER COOPERS LOCOVOTIVE FROM 1IREMINISCENCE8 OF HALF A CENTURY, READ BEFORE THE NEW YORK RAILROAD CLUB BY M. N. FORNEY, MAY 16, 1902 96. Financial Distresses.—The Bank of Maryland, owingto a change of policy on the part of the national government, wasobliged to stop business in 1834. Many of the depositors werepoor persons, who naturally became much alarmed at the thoughtof losing the little they possessed; but great confidence was feltin the officers of the bank and
Leading events of Maryland history; with topical analyses, references, and questions for original thought and research . T1\ i; PETER COOPERS LOCOVOTIVE FROM 1IREMINISCENCE8 OF HALF A CENTURY, READ BEFORE THE NEW YORK RAILROAD CLUB BY M. N. FORNEY, MAY 16, 1902 96. Financial Distresses.—The Bank of Maryland, owingto a change of policy on the part of the national government, wasobliged to stop business in 1834. Many of the depositors werepoor persons, who naturally became much alarmed at the thoughtof losing the little they possessed; but great confidence was feltin the officers of the bank and the people waited patiently forsome months. Then a violent quarrel arose among the officers. PUBLIC IMPROVEMENTS 151 of the bank, and the confidence of the depositors was quickly followed, in the course of which the houses of several of thedirectors of the bank and that of the mayor of the city (Balti-more) were broken open and much valuable property a time the mob held absolute control, but companies of cit-izens were soon formed for the preservation of the peace, underthe leadership of General Samuel Smith, and the troubles were promptly quelled. Two years later a great wave of financial distress swept over thewhole country; business houses and banks failed from one endof the Union to the other. Some states refused to pay the in-terest on their debts that was legally due. The public improve-ments going on in Maryland, particularly the canal and therailroad companies, had been repeatedly aided by the state. Inproportion to the population, the expenditures had been simplyenormous. In the desperate condition that now confronted thestate her credit and
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Keywords: ., bookcentury1900, bookdecade1900, bookidleadingevent, bookyear1903
