Page:Early western travels, 1748-1846 (1907 Volume 9).djvu/225

 Since my arrival in this very town, I have witnessed two examples. I do not now allude to slave-keepers losing their negroes, but their white daughters, who escape to get married. In a former letter I mentioned the watchfulness of parents over young ladies in Kentucky, and would only add, that there, as elsewhere, restraint does not seem to be conducive to contentment. Those who are acquainted with the state of society in Turkey, are perhaps the most able to give a decided opinion on this very interesting subject.

Of upwards of a hundred banks that lately figured in Indiana, Ohio, Kentucky, and Tennessee, the money of two is now only received in the land-office, in payment for public lands. Many have perished, and the remainder are struggling for existence. Still giving for their rags "bills as good as their own;" but, except two, none pay in specie, or bills of the United States Bank. Discount varies from thirty to one hundred per cent.

The recent history of banking in these western States, is probably unrivalled. Such a system of knavery could only be developed in a country where avarice and credulity are prominent features {193} of character. About four years ago, the passion for acquiring unearned gains rose to a great height; banking institutions were created in abundance. The designing amongst lawyers, doctors, tavern-keepers, farmers, grocers, shoemakers, tailors, &c. entered into the project, and subscribed for stock. Small moieties must actually have been advanced to defray the expenses of engraving, and other incidents necessary to putting their schemes in operation. To deposit much capital was out of their power; nor was it any part of their plan. Their main object was to extract it from the community. A common provision in charters, stipulated,