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 fighters. The log-books of these illusive craft make interesting reading. "Chased by a frigate: outsailed her," is the entry that seems to occur most frequently, and thrilling accounts of hairbreadth escapes are numerous. The English Channel was a favorite hunting-ground of the privateers, and many a British vessel was taken or burnt outside of and in view of her own port. The amount of property taken or destroyed in this way was enormous, and the moral effect of American success exceeded the material.

With the return of peace, overtrading led to a commercial crisis. In 1818, the Baltimore branch of the Bank of the United States became insolvent, and the darkest period in the history of the city ensued. But in less than ten years the shock had been so far forgotten that Baltimore was again seeking to develop commercial connection with the West. "The enterprising citizens of Baltimore," we are told, "perceiving that in consequence of steam navigation on the western waters, and the exertions of other States they were losing the trade of the West, began seriously to consider of some mode of recovering it." The means adopted were twofold: the Chesapeake and