Underground Relics.

Underground Relics.

From time to time for several years past workmen employed in digging down-town streets for various improvements have unearthed sections of wooden pipe—logs with a bore af about five inches—which serve no present use. These relics recall the story of the political jealousies and hatreds of a century ago, which resulted in the duel between Hamilton and Burr.

Hamilton had practically a monopoly of the banking business of the city at that time. Burr desired to engage in the same business. He could not do so without a charter, and a charter could only be obtained from the legislature. The Federalists, led by Hamilton, controlled the legislature, and Burr was the leader of the Republicans. He could get no bank charter, but he and his associates did get a charter for the Manhattan Company to supply the city with water, and “ for other purposes.” A reservoir for supplying water was built at the corner of Duane and Centre streets, and the wooden mains were laid through Park Row and Broadway. The logs uncovered were part of that primitive water supply system. The Manhattan Company did not limit its business to supplying water, but soon establish'd a bank under the general provisions of its charter, and that bank, known as the Bank of the Manhattan Company, is still in existence at 40 Wall street. Burr had outwitted his rival by a legislative trick.