Page:Life and Times of Frederick Douglass (1892).djvu/499

Rh adorned with pens and bouquets, the most fashionable and genteel of all our colored youth, stationed behind those marble counters, should desire to retain their places as long as there was money in the vaults to pay them their salaries.

Standing on the platform of this large and complicated establishment, with its thirty-four branches, extending from New Orleans to Philadelphia, its machinery in full operation, its correspondence carried on in cipher, its actuary dashing in and out of the bank with an air of pressing business, if not of bewilderment, I found the path of enquiry I was pursuing an exceedingly difficult one. I knew there had been very lately several runs on the bank, and that there had been a heavy draft made upon its reserve fund, but I did not know, what I should have been told before being allowed to enter upon the duties of my office, that this reserve, which the bank by its charter was required to keep, had been entirely exhausted, and that hence there was nothing left to meet any future emergency. Not to make too long a story, I was, in six weeks after my election as president of this bank, convinced that it was no longer a safe custodian of the hard earnings of my confiding people. This conclusion once reached, I could not hesitate as to my duty in the premises, and this was, to save as much as possible of the assets held by the bank for the benefit of the depositors; and to prevent their being further squandered in keeping up appearances, and in paying the salaries of myself and other officers in the bank. Fortunately, Congress, from which we held our charter, was then in session, and its committees on finance were in daily session. I felt it my duty to make known as speedily as possible to Hon. John Sherman, Chairman of the Senate Committee on Finance, and to Senator Scott of Pennsylvania, also of the same committee, that I regarded the