Instances of theft in connection with currency shipments-Great

Chicago fire of 1871 and its effect upon the banks-Bank failures

during Hulburd's administration-Amendments to the laws

enacted.

Pago

L

CHAPTER VI.-JOHN J. KNOX

Biography of John Jay Knox-Knox's annual reports-Panic of

1873 and its causes-Resumption of specie payments-The Freed-

mans Savings and Trust Company-Real estate loans by national

banks-Interpretation of the banking laws-Banking conducted

on widely different lines than formerly-Bank failures during

Knox's term-Failure of the National Bank of the State of

Missouri-Charges preferred against Knox by United States

Attorney-Knox's reply to charges-Failure of the First National

Bank of Washington, D. C., and of Jay Cooke & Company-

Inadequacies of the law and recommendations for amendments

-Amendments to the law enacted.

71

CHAPTER VII.-HENRY W. CANNON

Biography of Henry W. Cannon-Panic of 1884-Cause of the

financial troubles of 1884-Failure of the Marine National Bank-

Failure of the brokerage firm of Grant & Ward-Legislation

recommended.

115

CHAPTER VIII.-WILLIAM L. TRENHOLM -

Biography of William L. Trenholm-Unprecedented reduction in

circulation-Trenholm's circular letter to the banks-Plan for

National Currency reform-Failure of the Fidelity National

Bank-Peculiar construction of the law-Criticism of official

supervision of the banks-The Chicago wheat deal-Suggested

amendments to the law-Heterogeneous currency system—

Amendments to the law.

CHAPTER IX.-EDWARD S. LACEY

Biography of Edward S. Lacey-Monetary stringency of 1890-

Failures during Lacey's administration-Failure of the Keystone

X

131

151

National Bank-Failure of the Spring Garden National Bank-

Failure of the Maverick National Bank-Necessity for some lim-

itation on the discount of commercial paper-Suggested amend-

ments to the law.

Page

CHAPTER X.-A. BARTON HEPBURN

-

Biography of A. Barton Hepburn-National bank failures dur-

ing Hepburn's administration-Failure of the National Bank of

Guthrie, Oklahoma-Annual report of Hepburn-Amendments to

the law recommended.

178

CHAPTER XI.-JAMES H. ECKELS -

Biography of James H. Eckels-Panic of 1893-The model

receiver-Ex-convict receiver and examiner-Suspensions during

the panic of 1893-Shrinkage in assets and liabilities-Cause of the

panic of 1893-Most important bank failures during the panic of

1893 The Zimri Dwiggins chain of banks-The Chemical National

Bank and its branch in the Exposition grounds at Chicago-The

National Bank of Kansas City, Missouri-Failure of the National

Bank of Illinois-Amendments to the law recommended.

187

CHAPTER XII.-CHARLES G. DAWES

Biography of Charles G. Dawes-Liquidation of receiverships-

Second assessment of stockholders-National bank failures during

Mr. Dawes' administration-Failure of the Globe National Bank-

Defalcation in the First National Bank of New York City-The

Currency Laws-Preferment of stockholder to depositor-Cur-

rency legislation suggested-Amendments to the laws recom-

mended by Mr. Dawes-Reserve Cities with a population of

25,000-Amendment to the banking laws enacted.

215

CHAPTER XIII.-WILLIAM B. RIDGELY

Biography of William B. Ridgely-Extension of corporate exist-

ence of national banks-Robbery of the Merchants National Bank

of Lowell, Massachusetts-The Baltimore and San Francisco

fires-Failure of the Chicago National Bank-Legality of the

action of the Clearing House Banks-Indictment, trial and con-

viction of John R. Walsh-The Bigelow defalcation-Culpability

243

of the bank examiner-Bank failures during Mr. Ridgely's

administration-The failure of the Citizens National Bank of

Oberlin, Ohio-The celebrated Cassie A. Chadwick-The Andrew

Carnegie notes-Obligations of Directors-Failure of the National

Bank of North America and the Amsterdam National Bank of

New York City-Indictment, trial and conviction of Charles W.

Morse-Trial and acquittal of F. Augustus Heinze, indicted on the

same charges-Failure of the Farmers and Drovers National Bank

of Waynesburg, Pennsylvania-Ridgely's policies of administration

-The crisis of 1907-Failure of the Aetna Banking and Trust

Company of Butte, Montana, and branch at Washington, D. C.—

Secretary Shaw's ruling in regard to reserve requirements-Brief

panic in Wall Street-Life of receiverships-Ridgely's annual

reports-Amendments to the banking laws.

CHAPTER XIV.-LAWRENCE O. MURRAY

Biography of Lawrence O. Murray-Murray's first official act-

Bank examiners and bank examinations-Difference between an

examination and an audit-Failure of the National City Bank of

Cambridge, Massachusetts-Rotation of examiners-Bonding of

examiners-Instances of dishonesty on the part of examiners—

National Monetary Commission and Mr. Murray's peculiar attitude

before the Commission-Fee system of compensation-Instances

of excessive and undue concentration of loans made by banks-

Faultiness of Mr. Murray's knowledge of banking laws-Murray's

famous twenty-nine questions-The poetical critic-Murray's

mismanagement-President Taft on so-called reforms-Examiners'

fees-Characteristics of Murray's administration-Failures during

Murray's term-Change of location of small suburban bank-A

chicken bank.

Page

801

CHAPTER XV.-INTERIM

Interim between expiration of Murray's term and appointment of

John Skelton Williams-Failure of the First-Second National

Bank of Pittsburgh-Failure of United States Trust Company of

Washington, D. C.-Deposit of U. S. Treasury funds in Munsey

Trust Company by Mr. Williams-The Miss Lottie M. Taylor

incident-The Federal Reserve Act and date of passage in House

and Senate.

407

xii

CHAPTER XVI.-JOHN SKELTON WILLIAMS

Biography of John Skelton Williams-Aldrich-Vreeland Emer-

gency law-The Riggs National Bank controversy-Bill of com-

plaint filed by Riggs National Bank-Court's ruling on powers of

Comptroller-Extension of charter of Riggs National Bank-

Indictment of officers of Riggs National Bank for perjury-Trial

of case-Origin of Riggs National Bank-General activities of

Comptroller Williams-Mr. Williams' anti-usury campaign-Theft

of postage and currency-McFadden's suit to enjoin the Comp-

troller-Last official act of Comptroller Williams.

Page

443

CHAPTER XVII.-DANIEL RICHARD CRISSINGER

Biography of Daniel Richard Crissinger-Malcontents-Commer-

cial value of title "First National"-Theodore Roosevelt's

methods-First official act of Comptroller Crissinger-Modification

of form for reports of condition Suit to forfeit the charter of the

First National Bank of Hagerstown, Maryland-Stock dividends

-Enforced liquidation of Fort Dearborn National Bank of

Chicago, Illinois-Extension of charters-Branch banks or

branch offices-Proposed abolition of office of Comptroller of

the Currency and consolidation of Bureau with Federal Reserve

Board-Status of Federal Reserve Board.

491