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These he would
cash at from ten to twelve per cent. under their face value, having
previously given the United States Bank his own note at four months
for the entire amount. He would take his pay from the Third National
brokerage counter in packages of Virginia, Ohio, and western
Pennsylvania bank-notes at par, because he made his disbursements
principally in those States. The Third National would in the first
place realize a profit of from four to five per cent. on the original
transaction; and as it took the Western bank-notes at a discount, it
also made a profit on those.
There was another man his father talked about—one Francis J. Grund, a
famous newspaper correspondent and lobbyist at Washington, who possessed
the faculty of unearthing secrets of every kind, especially those
relating to financial legislation. The secrets of the President and
the Cabinet, as well as of the Senate and the House of Representatives,
seemed to be open to him. Grund had be
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