As the charters of all the banks in the State were to expire in 1850 or 1851, in the latter year, I think, the Legislature authorized the appointment of a board of commissioners for the examination of the banks. The Governor and Council appointed Solomon Lincoln, of Hingham, Joseph S. Cabot of Salem, and myself. Mr. Lincoln was a kind, capable man of considerable learning, especially in Old Colony history and genealogy. His first question to bank officers often related to them personally, and when he found a man who traced his line to the Old Colony, he pressed him with questions until his whole history was disclosed. Mr. Cabot sometimes anticipated Mr. Lincoln, by saying at once, when we entered a bank, "Is there anybody here from the Old Colony?" Mr. Cabot was a bachelor of fifty, and his ways were often odd, and occasionally they were disagreeable. He had a custom of never locking his sleeping-room door. Of this he often boasted. When we were at the American House, Worcester, Mr. Cabot said upon his appearance in the morning: "A very queer thing happened to me last night. When I got up my clothes were missing. At last I opened the door, and there they were in the hall. I supposed that I had been robbed. But I am all right," taking his wallet from his pocket. I said: "Have you looked in your wallet?" He opened it to find that the money had disappeared. We ventured to suggest that for a bank commissioner, he had not shown a great amount of shrewdness. In the years 1849 and 1850 the commission examined all the banks in the State. Only one was found insolvent, a bank at Pawtucket on the Rhode Island line. The cashier, named Tillinghast, had been persuaded by a man named Marchant, of Rhode Island, to loan money without the knowledge of the officers of the bank. The loan, at the time of the discovery, amounted to sixty thousand dollars. Upon the examination it appeared that there was a slight surplus of funds over the amount required by the statement. We insisted upon another examination. The cashier then reduced the balance by the statement that certain notes sent forward for collection had been discounted. It was impossible, however, to make the two sides of the account equal each other. At the end of the second day the cashier confessed the crime, and transferred his private property to the bank. Marchant did nothing. He came to the Rhode Island edge of the bridge, where we had some consultations with him, but without any result advantageous to the bank.