The History of Tammany Hall: Second EditionMyers, Gustavus
History
The History of Tammany Hall: Second Edition
Myers, Gustavus
New York (N.Y.) -- Politics and government; Tammany Hall (Political organization)
The Jackson campaign went energetically on. But it was rudely
interrupted during the following Autumn by a fresh series of
revelations regarding certain Tammany chieftains. The legislative
favoritism by which Jacob Barker was enabled to secure advantages for
his Exchange Bank (1818)[3] now culminated in a grave public scandal.
In September, 1826, Barker, Henry Eckford, another of the line of
Sachems; Matthew L. Davis, lately Grand Sachem, and several other
accomplices were principals in one of the most extended and sensational
trials which the city had known. They stood charged with swindles
aggregating several million dollars. The Grand Jury’s indictment of
September 15 charged them, and also Mark Spencer, William P. Rathbone,
Thomas Vermilyea and others, with defrauding the Mechanics’ Fire
Insurance Company of 1,000 shares of its own capital stock, 1,000
shares of United States Bank stock and $50,000; the Fulton Bank of
2,000 shares of its own capital stock and $50,000; the Tradesmen’s
Bank of 2,000 shares of its own capital stock and $50,000; the Morris
Canal and Banking Company of 2,000 shares of its own capital stock
and $50,000; and the Life and Fire Insurance Company of 2,000 shares
of its own capital stock. The indictment further charged these men
with obtaining fraudulently 1,000 promissory notes for the amount of
nearly $100 each, belonging to the Fulton Bank; and the same number of
notes for similar sums belonging respectively to the Tradesmen’s Bank,
the Morris Canal and Banking Company, and the Life and Fire Insurance
Company, and with additionally obtaining by fraud the sum of $50,000,
the property of Henry Barclay, George Barclay and others.[4]
A disagreement of the jury marked the first trial; the second brought a
conviction of the prisoners. Tammany Hall was unwilling to see any of
its leaders go to prison. As soon as the storm of popular indignation
blew over, a new trial was had for Davis, and owing to strong political
influence his acquittal was the outcome. Barker was again convicted,
but, thanks to the discreet use of his money, never saw a cell. He went
South and lived on till over ninety years of age.[5] Eckford fled to
the Orient and died in Syria. The severity of the law fell on the minor
offenders, two of whom, Mowatt and Hyatt, went to prison for two years,
and the Lambert brothers for one year.
Public-domain text, read in full here on John Shaqi.
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