The History of Louisville, from the Earliest Settlement till the Year 1852 Part 8

Free white females to 10 years of age: 356 " " 10 to 16 132 " " 16 to 26 273 " " 26 to 45 232 " " 45 and upwards 69 ----1062 ---- Total White Population 1886 Blacks, including free persons of color 1126 ---- Total 4012 Of whom there are engaged in Commerce 128 " " " Manufactures 591 Foreigners 94

On the 3d of March in this year Mr. Nicholas Clarke a.s.sociated with him, in the publication of the Western Courier, Messrs. S. H. Bullen and A. G.

Merriweather. After this period the name of the paper was changed to The Emporium and Commercial Advertiser, and it was issued semi-weekly instead of weekly. This connection, however, was not of long duration, for in February '22, Messrs. Clarke & Merriweather left the establishment, transferring their interest to Mr. Bullen and Mr. F. E. G.o.ddard. The paper finally came into the hands of this latter gentleman alone, and its publication was stopped while under his management. Mr. G.o.ddard will be remembered by most of the citizens of Louisville. He was the preceptor of a great many of the younger men now here, and was universally beloved and respected. His genial humor, his extraordinary scholarship and his fine qualities of heart made him the admiration of his friends, while his faithful discharge of all his duties and his firm and unwaving efforts to improve the minds and morals of his numerous pupils, cause them to respect his memory, and call forth alike their grat.i.tude and their veneration. No man has ever occupied Mr. G.o.ddard's position who enjoyed more universally or more meritedly the regard of his fellow citizens.

In May, still of this year, a branch bank of the Commonwealth was located here. From an article in the Emporium it would seem that this bank was established without one dollar of specie capital and hence its notes were sold at very large rates of discount. The paper of this bank and that of the Bank of Kentucky formed almost the only currency at the time, and as merchants, in order to pay their calls abroad, were obliged to buy specie or Eastern funds at a great advance, they naturally enough refused these bills at par value. This seems to have been a grievous trouble to the management of the bank at Frankfort, and it was suggested by them that the Legislature should remove the branch established here to "some other situation where love of country, love of truth and love of general prosperity might overcome the combinations of the weak and wicked." This removal, however, was not effected.

It was also during this year that a night watch was established, who were paid by a subscription of the citizens and not from the treasury of the town. B. Morgan, C. Sly and M. Woolston were the first persons elected to this office.

1822--The first event of the next year was the authorization by the Trustees of the issue of town notes, varying in denomination from twelve and a half cents to one dollar, the aggregate value of all of which was not to exceed four thousand dollars. These notes, however, did not meet with the usual fate of the shinplaster currency, for in about a year afterward we find an order of the Trustees for counting and destroying them, leaving the impression either that they were not put into circulation or were redeemed and so withdrawn from a market already glutted with such trash.

It was during the year 1822 that the town was visited by a dreadful epidemic. Dr. John P. Harrison, late of Cincinnati and formerly of this city, a physician of distinguished ability, has published a minute and highly valuable account of this epidemic in the Philadelphia Medical Journal, Vol. 8. The disease was a highly aggravated bilious fever, so terrible as to deserve the dreaded name of yellow fever. The mortality was very great and the alarm existing on account of it throughout the whole interior of the neighboring States was of the most exciting character. The season was an unhealthy one throughout the West, but the scourge fell most heavily upon Louisville, probably on account of the miasma from her many ponds. The scourge here, as Dr. Drake says in his valuable history of the diseases of the Valley of North America, amounted almost to depopulation.

The Trustees were by it awakened from their lethargy. A Board of Health, consisting of Drs. Gait, Smith, Harrison, Wilson and Tompkins, were appointed to examine into the causes of disease and report the same to the Trustees, together with the mode or practicability of removing the same.

This first Board of Health was appointed too late. Had they been ordered to examine into this matter years before, much might have been effected, but the time for such action was now pa.s.sed, and this fearful malady, now inevitable, became the most terrible blow ever given to the prosperity of the rising town. The news spread far and wide, and the neighboring towns, instead of seeking to publish only the truth, a.s.sisted largely in circulating garbled intelligence and extravagant reports of a fact which tended to their advantage by destroying the fair fame of their rival.

Emigrants from abroad as well as from this and neighboring States, for years afterward, dreaded even to pa.s.s through the town, and of those who had already determined to locate here, many were dissuaded from their purpose by the a.s.sertion that it was but rushing upon death to make the attempt. This occurred, too, just at a period when the resources of the town, beginning to develop themselves, were attracting the attention of capitalists. It was this alone which gave a temporary semblance of superiority to the neighboring towns, and, for a time, r.e.t.a.r.ded the usual prosperity of this. Had the feeling of alarm ceased with the disease, it would have been less of a blow, but for years after it was referred to as a warning against emigration hither.

The next two years present nothing of interest to the reader, save the building in the winter of 1824-5 of an Episcopalian Church on Second Street, between Green and Walnut, the present Christ's Church, the first rector of which was the Rev. Mr. Shaw.

On the 8th of May, in the year 1825, Lafayette visited Louisville. His reception here, as everywhere else, was enthusiastic in the extreme. The Trustees of the city paid into the hands of John Rowan, the chairman of the committee of arrangements for the reception, a considerable sum of money, to be expended in such manner as the committee might direct for this purpose. The resolution authorizing this expenditure was pa.s.sed with a single dissenting voice, that of _Richard Hall_. The meeting of Lafayette with some of the old officers of the revolution, particularly that with Col. Anderson, is said to have been extremely affecting. The whole city turned out to receive this distinguished patriot; processions were formed, arches erected, bevies of young girls strewed his pathway with flowers and the whole town was a scene of festivity and rejoicing.

Whether the dissenting Mr. Richard Hall was with those who were thus showing their sense of grat.i.tude to him who had left home, country and friends, and faced the thundering cannon's mouth to aid them in their hour of direst peril, history does not tell us.

The Legislature of these years made very considerable additions to the power of the Trustees; allowing them to borrow money on the credit of the town, to purchase and hold real estate for erecting market-houses, wharfs, &c., to levy a tax on exchange brokers, to tax hacks, drays, &c., to appoint harbor and wharf masters, and make rules governing the lading and unlading of vessels, to collect wharf.a.ge fees, to appoint inspectors of flour, &c. The first use made of this new power was the purchase of ground for a wharf. Rowan owned a slip of ground lying north of Water Street, commencing at Second and terminating at Seventh Street. A similar slip, lying between Seventh and Eighth streets, was already the property of the city. This slip the city agreed to add to Rowan's, and also to pave the whole as a wharf, using the stone in Rowan's quarry, situated on the premises, and for the wharf so constructed they agreed to give to Rowan and to his heirs _forever_, in semi-annual payments, one-half the receipts of this wharf. They also agreed that, if at any time Gray's wharf, lying east of Second Street, should be bought, both parties might unite in the purchase and Rowan should receive as before one half the profits of the entire wharf. This contract; made with but a single dissenting voice on the part of the Trustees, that of Jeremiah Diller, must have been the result of either a very low state of finances or of very injudicious precipitation. Rowan's heirs, it is understood, now get but one fourth of the wharf.a.ge, but even this would have been a sum better gained to the city than lost by a want of proper judgment or foresight.

On the 12th of January, in this year, the Louisville & Portland Ca.n.a.l Company was incorporated by an act of the Legislature, with a capital of $600,000, in shares of $100 each, with perpetual succession. 3665 of these shares were in the hands of about 70 individuals, residing in different States, and the remaining 2335 shares belonged to the government of the United States. In December contracts were entered into to complete the work of the ca.n.a.l within two years for about $375,000, and the work was actually commenced in March 1826. Many unforeseen difficulties r.e.t.a.r.ded it until the close of the year 1828. At this time the contractors failed, new contracts were made at advanced prices, and the ca.n.a.l was finally opened for navigation, December 5th, 1830. When completed, it cost about $750,000. It is about two miles in length and is intended to overcome a fall of twenty-four feet, occasioned by an irregular ledge of lime-stone rock, through which the entire bed of the ca.n.a.l is excavated, a part to the depth of 12 feet, overlaid with earth. There is one guard and three lift locks combined, all of which have their foundation on the rock. One bridge of stone 240 feet long, with an elevation of 68 feet to the top of the parapet wall, and three arches, the centre one of which is semi-elliptical, with a transverse diameter of 66, and a semi-conjugate diameter of 22 feet. The two arches are segments of 40 feet span. The guard lock is 190 feet long in the clear, with semi-circular heads of 26 feet in diameter, 50 feet wide and 42 feet high, and contains 21,775 perches of mason work. The solid contents of this lock are equal to 15 common locks, such as are built on the Ohio and New York ca.n.a.ls. The lift locks are of the same width with the guard lock, 20 feet high and 183 feet long in the clear, and contain 12,300 perches of mason work. The entire length of the walls from the head of the guard lock to the end of the outlet lock is 921 feet. In addition to the amount of mason work above, there are three culverts to drain off the water from the adjacent lands, the mason work of which, when added to the locks and bridge, gives the whole amount of mason work 41,989 perches, equal to about 30 common ca.n.a.l locks. The cross section of the ca.n.a.l is 200 feet at top of banks, 50 feet at bottom and 42 feet high, having a capacity equal to that of 25 common ca.n.a.ls; and if we keep in view the unequal quant.i.ty of mason work, compared to the length of the ca.n.a.l, the great difficulties of excavating earth and rock from so great a depth and width, together with the contingencies attending its construction from the fluctuations of the Ohio river, it may not be considered as extravagant in drawing the comparison between the work in this, and in that of 70 or 75 miles of common ca.n.a.ling.

In the upper sections of the ca.n.a.l, the alluvial earth to the average depth of 20 feet being removed, trunks of trees were found, more or less decayed, and so imbedded as to indicate a powerful current towards the present sh.o.r.e, some of which were cedar, which is not now found in this region. Several _fire-places_ of a rude construction, with partially burnt wood, were discovered near the rock, as well as the bones of a variety of small animals, and several human skeletons; rude implements formed of bone and stone were also frequently seen, as also several well wrought specimens of hemat.i.te of iron, in the shape of plummets or sinkers displaying a knowledge in the arts far in advance of the present race of Indians.

The first stratum of rock was light, friable slate in close contact with the limestone, and difficult to disengage from it; this slate did not however extend over the whole surface of the rock, and was of various thicknesses from three inches to four feet.

The stratum next to the slate was a close compact lime stone, in which petrified sea sh.e.l.ls, and an infinite variety of coraline formations were embedded, and frequent cavities of crystaline encrustations were seen, many of which still contained petroleum of a highly fetid smell, which gives the name of this description of lime stone. This description of rock is on an average of five feet, covering a substratum of a species of cias limestone of a bluish color, embedding nodules of horn stone, and organic remains. The fracture of this stone has in all instances been found to be irregularly conchoidal, and on exposure to the atmosphere and subjection to fire it crumbled to pieces. When burnt and ground, and mixed with a due proportion of silicious sand, it has been found to make a most superior kind of hydraulic cement or water lime.

The discovery of this valuable lime stone, has enabled the ca.n.a.l company to construct their masonry more solidly than any other known in the United States.

A manufactory of this hydraulic cement or water lime is now established on the bank of the ca.n.a.l, on a scale capable of supplying the United States with this much valued material for all works in contact with water or exposed to moisture; the nature of this cement being to harden in the water, the grout used on the locks of the ca.n.a.l is already _harder_ than the _stone_ used in their construction.

After pa.s.sing through the stratum which was commonly called the water lime, about ten feet in thickness, the workmen came to a more compact ma.s.s of primitive grey limestone, which however was not penetrated to any great depth. In many parts of the excavation, ma.s.ses of bluish white flint and horn stone were found enclosed in, or encrusting the fetid limestone. And from the large quant.i.ties of arrow heads and other rude formations of this flint stone, it is evident that it was made much use of by the Indians in forming their weapons of war and hunting; in one place a magazine of arrow heads was discovered, containing many hundreds of those rude implements, carefully packed together, and buried below the surface of the ground.

The existence of iron ore in considerable quant.i.ties was exhibited in the progress of excavation of the ca.n.a.l by numerous highly charged chalybeate springs, that gushed out and continued to flow during the time that the rock was exposed, chiefly in the upper strata of limestone.[13] The ca.n.a.l when built was intended for the largest cla.s.s of boats, but the facilities for navigation have so far improved and the size of vessels increased so far beyond the expectations of the projectors of this enterprise that it is now found much too small to answer the demands of navigation. The consequence is that the ca.n.a.l is looked upon as, equally with the falls, a barrier to navigation. The larger lower-river boats refuse to sign bills of lading, compelling them to deliver their goods above the falls, and as this cla.s.s of boats is increasing, it promises soon to be as difficult to pa.s.s this point as before this immense work was completed. As previous to the undertaking of this ca.n.a.l, so there are now numerous plans proposed for overcoming the impediment; and these do not differ materially from those suggested and noticed in 1804. The only ground upon which all parties agree is, that whatever is done should be effected by the general government, and not left to be completed by individual enterprise.

The government, as has before been said, owns a very large part of the stock in this ca.n.a.l, say three-fifths, and it is strongly urged by a part of the community that nothing would better serve the interests of western navigation than a movement on the part of the United States, making it free. The question of internal improvement is not within the province of this history to discuss, but certainly a deaf ear should not be turned by the general government to the united voice of so many of its children, all alike demanding to be relieved from their embarra.s.sments, and the more particularly so, as it has already heard and answered the supplications of a part of its numerous family. Any semblance of favoritism in a government is a sure means of alienating the trust and affection of a part of its dependants. Whatever means may be most advisable to effect the removal of the impediment to navigation here should at once be adopted. And if the opening of the ca.n.a.l freely to all could tend to effect this object, the government has already had from it revenue sufficient to warrant it in taking off the tax from navigation. Up to the year 1843, there had pa.s.sed through this ca.n.a.l, 13,776 steamboats, and 4701 flats and keels, making in all 2,425,567 tons, the tolls of which amounted to $1,227,625 50. It would not be an unfair calculation to rate the expenses of keeping up the ca.n.a.l at $30,000 per annum, or $390,000 for the thirteen years above referred to. Supposing the government to possess three-fifths of this profit, it would amount to $502,575, or nearly enough to build a new ca.n.a.l. It is not to be wondered at, then, that western people should feel disposed to murmur at having these large sums of money taken from their waters and applied to improving the Balize or Sandy Hook, or any other distant part of the Union. And the matter is the more grievous when it is remembered that these tolls are not only not free but are enormously and disproportionately high. Whether laden or not, each boat is obliged to pay at the rate of 50 cts per ton, in proportion to her capacity, as a toll!

The whole subject is one deserving immediate and earnest attention, as involving interests in which not only Louisville, but the whole South and West is intimately concerned.

With the next year--1826--we come to the establishment of another newspaper here. This was called the Focus, and was edited by Dr. Buchanan, a.s.sisted by Mr. W. W. Worsley, and published weekly by Morton & Co. It contained a very large amount of reading matter on literary, scientific, political and commercial subjects. It was violently anti-Jackson in politics, but still found room in its columns for an unusual quant.i.ty of interesting literary matter. It was conducted with great ability by these gentlemen for a period of about three years, when, after the death of Dr.

Buchanan, it was sold to Messrs. J. T. Cavins and G. S. Robinson. It was afterwards merged into the Louisville Journal, and placed, under the name of the Journal and Focus, in the hands of Mr. Geo. D. Prentice, as editor.

This was in the year 1832. Since that time its history is too well known wherever the knowledge of American newspapers has penetrated to need any furthur notice here. It has been the lot of the gentleman who is at the head of it, and who is distinguished alike as a poet and a politician, as a wit and a sage, to wield an influence such as few men in any station have ever exercised; an influence which is not only political but also literary and social, and which has been exerted alike at the birth of a true poet and at the death of a false patriot or a foolish politician.

By the census of the next year--1827--we find the population of Louisville to have reached 7063, showing an increase of nearly double since 1821. The attention of the people began now to be turned toward effecting an incorporation of the town and placing themselves in a condition for self-government, and accordingly on the 3d of November, of this year, a very large meeting of the citizens was held at the court house for this purpose, Levi Tyler having been appointed chairman and Garnett Duncan secretary, the following resolutions were adopted:

1st. Resolved, That public convenience renders it important that we ask for the pa.s.sage of an act incorporating Louisville with its enlargements, and giving a city court for the speedy punishment of crimes and the speedy trial of civil suits.

2d. Resolved, That a committee of five citizens be appointed to draft an act of incorporation and to submit the same at an adjournment of this meeting.

3d. Resolved, That a committee of three be appointed to confer with the inhabitants of Shippingport and Portland, and the enlargements of Louisville, and to request them to unite with us in this subject.

4th. Resolved, That we esteem the erection of a permanent bridge across the Ohio river, at the most convenient point across the Falls, of the greatest utility to the public, and calculated to enhance the commerce and prosperity of our town, and that we respectfully solicit the legislature of this State to incorporate a company with competent powers and capital to effect the erection of such a bridge, and that the city of Louisville, when incorporated, should be authorised to raise funds, by loan or otherwise, and to subscribe for ---- dollars of stock in said company.

5th. Resolved, That a committee of seven be appointed to draft a charter for that purpose, and that our representatives be requested to use their best exertions to effect the pa.s.sage of such charter.

Committee under the second resolution, Daniel Wurtz, Thos. Anderson, S. S.

Goodwin, S. S. Nicholas, Garnett Duncan.

Committee under the third resolution, J. H. Tyler, W. D. Payne, W. S.

Vernon.

Committee under the fifth resolution, J. H. Tyler, J. Guthrie, J. S.

Snead, J. I. Jacob, G. W. Merriweather, D. R. Poignard, Geo. Keats.

These committees having duly reported, their memorials were sent forward to the legislature, and on the 13th day of February, 1828, the act of incorporation pa.s.sed and Louisville became a city. Portland had refused to become annexed to the city as yet, but Shippingport had consented to the compact. The act of incorporation defines the limits of the city as follows: Beginning at the stone bridge over Bear Gra.s.s creek, near Geiger's mills, thence on a straight line to the upper corner of Jacob Geiger's land on the Ohio river, and thence by a straight line down the Ohio river, so as to include Corn Island and the quarry adjacent thereto, and thence to the upper boundary of Shippingport to the back line thereof, and the same course continued until it intersects the back line of the town of Louisville, when extended westwardly far enough to meet the said line extending out from the river with the upper boundary of Shippingport, thence from the said intersection to the south or back line of the present town of Louisville, and with the said back line to the south fork of Bear Gra.s.s creek, thence down the middle thereof to the beginning. The usual powers of a munic.i.p.al body were vested in a Mayor and City Council, consisting of ten persons. The city was divided into five wards, each ent.i.tled to two councilmen, who were to be elected annually. These elections were to be held on the first Monday in every March. On election, the Mayor and Councilmen were to take an oath of office and these oaths were recorded. They were to choose a clerk annually, whose duty it should be to keep a record of the proceedings of the board, sign all warrants issued by them and to deliver over to his successor all books and papers entrusted to him. Five Councilmen and the Mayor or six Councilmen should const.i.tute a quorum. The meetings of the board were to be public, and the Mayor's salary should be fixed by the Councilmen. The Major was not allowed any judicial authority in civil matters, but had the power of a justice of the peace over slaves and free negroes, and similar powers to require surety for good behavior and for the peace; and the power a.s.signed to two Justices of the Peace in committing criminal offenders and sending them on for trial; he also had the casting vote in case of a tie in the board over which he presided, but had no vote otherwise. The powers before delegated to the Trustees were now vested in the Mayor and Council, and in addition to these were granted power to prohibit the erection of wooden buildings within certain limits, to erect suitable buildings for a poor and work-house, to establish one or more free schools in each ward, to elect all subordinate officers, and to pa.s.s by-laws with adequate penalties for their infraction. The office of City Marshal was also created by the act. He was to be chosen annually by the people, and, if required by the Council, he was to have a resident deputy in each ward of the city. His duties were to preserve order at all sessions of the Mayor and Council, and to execute all processes emanating from the Mayor. He was to be appointed City Collector and State Collector within the city. He was to execute bond, with sufficient security, before the Mayor and Council, to the State, for the performance of his duties, and a lien was retained on all his lands and slaves, and on those of his sureties, for all sums of money which came into his hands. He had the same powers and duties within the city as a Sheriff and received the same fees. Not less than two persons were to be voted for as Mayor, and the two having the highest vote for this office were to be certified to the Governor, one of whom was by him to be commissioned and submitted to the Senate for their advice and consent. This charter was to be in force for five years from and after its pa.s.sage, and no longer, and upon the dissolution of the corporation, all property was to revert to the Trustees of the town, to be chosen or appointed as heretofore directed by law.

The first election under this charter was held on the fourth day of March, 1828. Mr. J. C. Bucklin was elected Mayor, by a small majority over Mr. W.

Tompkins, and W. A. c.o.c.ke was elected Marshal by a large majority. The following gentlemen were elected Councilmen: Messrs. John M. Talbott, W.

D. Payne, G. W. Merriweather, Richard Hall, Jas. Harrison, J. McGilly Cuddy, John Warren, Elisha Applegate, Daniel McAllister and Fred. Turner.

Samuel d.i.c.kinson was appointed Clerk.

A writer in the Focus, for January 20, 1829, gives an idea of the commerce of Louisville in regard to certain leading articles at this period. He says that "from 1st of January, 1828, to 1st of January, 1829, there were received and sold in this place 4144 hogsheads of sugar and 8607 bags and barrels of coffee, amounting in value to $584,681. He also fixes the inspections of tobacco in Louisville at 2050 hhds. for 1826, 4354 hhds.

for 1827, and 4075 hhds. for 1828. The average price of these was, for 1826, $2 67, for 1827, $2 59, and for 1828, $1 98-1/3. The whole value of these for the three years was $468,672 88. 1140 of these were shipped to Pittsburg, 3048 to New Orleans, 320 manufactured here and 458 were stemmed. In this article sugars are quoted at $7 04 to $7 02, by the barrel, gunpowder tea at $1 20 to $1 25; and it also states that groceries of all kinds can be had here at as cheap rates as they can be procured either in New York or New Orleans. A writer in the Kentucky Reporter also adds to this information the following statement: The store rooms of the princ.i.p.al wholesale merchants are larger and better adapted to business purposes than any to be found in the commercial cities of the East. Not a few of them are from 100 to 130 feet in depth, by 30 feet wide, and from three to four stories high, and furnished with fire proof vaults for the preservation of books and papers in case of fire. The wholesale business has increased very rapidly of late, perhaps doubled in the course of two years. There has also been a proportionate increase in the shipping and forwarding business. Mechanics of all sorts have full employment and good wages."

An excellent criterion to judge of the commerce of a place and to show the increase of its business, is its exchange operations. The following statement of Domestic Bills of Exchange, derived from the official doc.u.ments of the bank of the U. S., being the amount on hand and unpaid on the 1st January of each year, will give some idea of the amount and increase of the business of Louisville:

Jan. 1, 1826--Bills of Exchange on hand $46,392 " 1827, " " " 108,287 " 1828, " " " 184,144 " 1829, " " " 350,354

The aggregate of business, as ascertained by a personal application and inspection of the books of the princ.i.p.al houses, was ascertained to be about $13,000,000.

On the 17th of September, in this year, the branch of the Commonwealth's Bank was robbed of $25,000 in its own notes. The robbery took place before 9 o'clock in the evening. The door communicating with an entry was opened by a false key, the iron chest quietly unlocked, the notes taken, and the front door opened without any alarm being given. A reward of one thousand dollars in specie was offered for the apprehension of the robber and also a similar reward of $1500 for the recovery of the money. These rewards did not, however, produce the desired result and neither the money nor the robber was ever discovered.

During this year there was a secession of about fifty members from the Methodist Episcopal church here, who formed and established the first Methodist Reformed church. They constructed an edifice at the corner of Green and Fourth Streets, of which Mr. N. Snethen was the pastor. This church was afterwards used by the congregation of the First Presbyterian church, was then sold to the negroes, and finally torn down to make room for the immense Masonic Hall now being built on that spot.

The last event of this year which will be noticed here is the erection of the first city school house. This building, still standing at the south-west corner of Walnut and Fifth Streets, was then an extremely creditable ornament to the city. It is capable of containing seven or eight hundred pupils and is divided into a male and female department, which are entirely distinct from each other. It was superintended by the Mayor and six Trustees, annually chosen by the Council. The first board of Trustees was composed of the following gentlemen: Jas. Guthrie, Jas. H.

Overstreet, Wm. Sale, Samuel d.i.c.kinson, F. Cosby and Dr. J. P. Harrison.

The standard of education pursued was as high as that of any private school and the terms were only from one dollar to one dollar and a half per quarter. The annual expense of this school to the city was $5,682.

Several equally large schools have been since erected and the system of free-schools somewhat changed. These will be noticed at greater length in another part of this history.

CHAPTER VII.

The opening of the next year--1830--found the young city in a highly prosperous and thriving position. The security and permanence given to enterprise by the charter had its effect on all departments of business.