Democratic Sentinel, Volume 11, Number 45, Rensselaer, Jasper County, 2 December 1887 — A Texas Napoleon of Finance. [ARTICLE]

A Texas Napoleon of Finance.

“Talking about Napoleons of finance, ” said a well-known Texan, “reminds me of a sharper I once met on the Texas frontier. This man’s name was Ward. He struck the State dead broke, and after working in a sheep camp long enough to make a small stake he went to Eagle Pass, a port of entry on the Bio Grande. Here he made up a pack, and for a time peddled cheap household articles among the jackals scattered through that section of the country. Mexican coin was the only money in circulation on the frontier then. Small change was scarce; few pieces smaller than the medio peso (half-dol-lar) were to be had. “This bothered Ward a good deal, and he finally hit upon a plan whereby change would become more plenty. He collected a number of medio pesos and proceeded to cut them in half. The halves passed current as doce reals, or two shillings. After awhile another idea occurred to Ward. In cutting the coins he cut a good piece off of each side, and retained those pieces. Finally medio pesos became scarce and Ward began cutting these pesos (dollars), and, strange to say, he monopolized that business then. “Every once in awhile there is a feastus given at Piedras Negras, a Mexican town just across the river from Eagle Pase, and most of the cut coin was put in circulation ’there during the bull-fights. Ward grew rich on the pieces of silver obtained from the coins he cut. He built a big store and went into the merchandising business. He called his place ‘La Piedra Parada,’it being the only stone house in the place at the time. “Finally the Mexican Government got wind of Ward’s scheme, and negotiations were entered into with this Government with a view to Ward’s being turned over to the Mexican authorities. Ward heard of it, turned his property over to % fellow named Byron, and skipped. I understand that he is now in business in New York.”— New York Sun.