Trotwood's Monthly, Vol. II, No. 2, May, 1906Various
History
Trotwood's Monthly, Vol. II, No. 2, May, 1906
Various
Agriculture -- Southern States -- Periodicals; Horses -- Periodicals; Southern States -- Periodicals
The lots were untouched forests jutting out on an Indian trail to the
river. And yet the one on which the present bank stands fetched over
$3,000, and the one just below the courthouse and diagonally across
fetched $1,840! Here is faith for you—here is booming that booms. If
such men as Jackson and Madison pinned their faith there like that,
in July, 1818, what splendid opportunities now offer themselves for
faith in a town which, as one stands on the hillside looking down on
the same great river, sees it covered with a cloud, not from the sky,
but from earth—from furnace and factory, and behold, the valley of
erstwhile woods, the busy mart of men in homes and houses. And two great
railroads—the Louisville & Nashville and the Southern—and one great
river, to keep freight down.
The total sale of the first two or three hundred lots was $233,580.
Andrew Jackson bought lot 6 for $350; Nos. 57 to 62, for $250 to $400.
Madison bought lot No. 28 for $300; 39 for $390; 41 to 44, $400 to $600.
Madison made his first payments, and then—let them all go for taxes!
Evidently the great expounder of the Constitution and President of the
United States took his first lesson in boom towns when Fate sent him to
the Tennessee River to close up an Indian treaty.
And he must have been easy. Oh, if the real estate agents of to-day could
always meet his kidney!
Further tracing of old records shows that he caught it all around.
November 1st, 1826, I find that James Madison appointed one Dabney Morris
his agent to handle “all his lands in Alabama, all lots in Florence,
also eight shares of stock in Cypress Land Company.” On August 22, 1826,
is an agreement in which James Madison extends the time of payment of a
judgment he held against one Bedford amounting to $4,680.96. And, worst
of all, Dabney Morris laid down on him, for later a record shows that
Morris’ notes to Madison went to protest, to satisfy which the said
Morris turned over land to said Madison to the tune of $24,866—a small
fortune in those days (in money, not in land) when money was worth nearly
double what it now is. In the slang language of to-day, they evidently
“did enough to Jimmy.”
But Old Hickory paid for his. It is not recorded that he lost a cent. Old
Hickory was born holding on. He never turned loose.
Public-domain text, read in full here on John Shaqi.
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