OH-CLEVELAND-IRISH-L Archives

From: "J. Campbell" <>
Subject: pauper?
Date: Thu, 22 Jun 2000 07:25:17 -0700
References: <200006220700.e5M70lD01437@lists5.rootsweb.com>

How someone might come to be a pauper..... What years are involved here?
SOme of my family started out prosperous in Summit County, then their
holdings became smaller & smaller. Come to find out, there were Panics in
the 1830's & the 1850"s. Banks printed their own currency. That was not
centralized. If the bank went under, all their currency became valueless--
plus they re-called all loans, etc. Many families throughout the country
lost their money this way. In the 1850'sw, in OH, with the development of
canals, entrepreneurs bought land on speculation, figuring towns & houses
would spring up in the vicinty with improved commerce. Good idea, no? When
some local banks failed, the speculators' mortgages were called in. Many
bought with minimum security. They had to borrow from friends & family to
avoid bankruptcy. This happened with my family.

That is one scenario. If the Wards were living in one place and Mr. Ward
another at the same time--- could be that ol' demon drink.

Judith in OH
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