Magazine of western history, illustrated, Vol. I, No. 1, November 1884Various
History
Magazine of western history, illustrated, Vol. I, No. 1, November 1884
Various
Local history -- Periodicals; United States -- History -- Periodicals; West (U.S.) -- History -- Periodicals
ARTICLE 12th.—Provided, also, that whereas it will be for the common
interest of the company to obtain an ordinance of incorporation from
the honorable Congress, or an act of incorporation from some one of
the States in the Union (for which the directors shall make
application), it is therefore agreed that in case such incorporation
is obtained, the fund of the company (and consequently the shares and
divisions thereof) may be extended to any sum, for which provision
shall be made in said ordinance or act of incorporation, anything in
this association to the contrary notwithstanding.
ARTICLE 13th.—That all notes under this association may be given in
person or by proxy, and in numbers justly proportionate to the
stockholder or interest represented.
These articles of agreement were unanimously adopted and subscription
books were immediately opened. A committee was appointed, consisting of
three members, to transact necessary business, and some other measures
taken to advance the project of the association; but in spite of all the
exertions made, there was but little progress in the affairs of the Ohio
Company. When the next meeting was held—a little more than a year from
the time of the first, that is, upon March 8, 1787—it was found that the
total number of shares subscribed for was only two hundred and fifty.
And yet, all untoward circumstances considered, that was probably a fair
exhibit, and more than was expected. One active friend of the movement,
General Tupper, was the greater part of the year in the west. The
influence of the others was very largely counteracted by events of an
alarming nature—the dissatisfaction which finally culminated in Shay’s
rebellion. That civil commotion growing out of the imposition of heavy
taxes upon the already impoverished people threatened for a time
exceedingly dire results, but fortunately it was speedily quelled. It
served as a startling illustration, however, of the great depression in
New England, and of the desperation to which men can be driven by ill
condition. Possibly the outbreak gave a slight impetus to the progress
of the Ohio Company’s project, by way of increasing the disposition of
some citizens to seek in the west a new home. General Tupper, whose
immediate neighborhood was “deeply infected with the sedition,” returned
from his second visit to the Ohio country in time to take a prominent
part in subduing the revolt. The dawn of 1787 witnessed the pacification
of the troubled country, but no marked increase in prosperity.
It was reported at the meeting held on the eighth of March at Brackett’s
tavern in Boston, that “many in the commonwealth of Massachusetts, also
in Connecticut, Rhode Island and New Hampshire, are inclined to become
adventurers, who are restrained only by the uncertainty of obtaining a
sufficient tract of country, collectively, for a good settlement.”
Public-domain text, read in full here on John Shaqi.
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