Chronicles of Newgate, Vol. 2: From the eighteenth century to its demolitionGriffiths, Arthur
History
Chronicles of Newgate, Vol. 2: From the eighteenth century to its demolition
Griffiths, Arthur
Criminals -- Great Britain; Newgate (Prison : London, England); Prisons -- England; Punishment -- Great Britain
The last great case of fraud upon the Bank of England will fitly find a
place in the later criminal records of Newgate. This was the well and
astutely devised plot of the brothers Bidwell, assisted by Macdonell
and Noyes, all of them citizens of the United States, by which the bank
lost upwards of £100,000. The commercial experience of these clever
rogues was cosmopolitan. Their operations were no less world-wide. In
1871 they crossed the Channel, and by means of forged letters of credit
and introduction from London, obtained large sums from continental
banks in Berlin, Dresden, Bordeaux, Marseilles and Lyons. With this
as capital they came back to England via Buenos Ayres, and Austin
Bidwell opened a bona fide credit in the Burlington or West End Branch
of the Bank of England, to which he was introduced by a well known
tailor in Saville Row. After this the other conspirators travelled
to obtain genuine bills and master the system of the leading houses
at home and abroad. When all was ready, Bidwell first "refreshed
his credit" at the Bank of England, as well as disarmed suspicion,
by paying in a genuine bill of Messrs. Rothschilds' for £4,500 which
was duly discounted. Then he explained to the bank manager that his
transactions at Birmingham would shortly be very large, owing to the
development of his business there in the alleged manufacture of Pullman
cars. The ground thus cleared, the forgers poured in from Birmingham
numbers of forged acceptances to the value of £102,217, all of which
were discounted. The fraud was rendered possible by the absence of a
check customary in the United States. There such bills would be sent to
the drawer to be initialled, and the forgery would have been at once
detected. It was the discovery of this flaw in the banking system which
had encouraged the Americans to attempt this crime.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account