101 INDIANAPOLIS REGIONAL CENTER PLAN 2020 PLANNING DOWNTOWN�fS FUTURE TODAY APPENDIX A: HISTORY OF DEVELOPMENT under one chief engineer.  In 1852, the State Fair held its initial meeting and in 1860 located a permanent site in Henderson's Grove at 19th and Alabama.   The Free Banking Act, passed by the State's 1850 Constitutional Assembly, had dramatic consequences for Indianapolis and the State.  In approving a charter for the Third State Bank of Indiana, the new constitution forced the State to withdraw from its 50 percent ownership of the Second State Bank.  A decision was made to close the bank.  But, unknown to the State, a group of its principal investors began preparation for a new charter and so effectively worked to position its people in the legislature that the charter was passed by the General Assembly over the veto of Governor Joseph A. Wright. Deftly manipulating the timing of and access to the subscription books, most of the stock was bought by board members and their confederates.  Later investigation substantiated that, among other statewide abuses, the subscription book had been opened for only 15 minutes in an out-of-the-way location in Indianapolis and that most of the stock was bought by W.C. DePauw, who immediately sold it to those involved in the scheme at a substantial profit.  Governor Wright denounced the events constituting a dark page in the annuls of fraud while others considered it a textbook exercise in capitalistic economics.   The 1850 legislation also attempted to create a source of currency less conservative than the existing system-one that was flexible and better able to react to the rapidly chancing demands of the local economy.  Conceived in good faith, the effort was a dismal failure as inept, speculative and dishonest wildcat banking institutions sprang up overnight issuing currency that later proved worthless.  They had brought total chaos to the local currency market and business came to a standstill that only a civil war would restart. Representative buildings from this time period are Christ Church Cathedral (1859) at 125 Monument Circle, the Staub House (1859) at 342 North College and the Holland and Ostermeyer Building (1867-68) at 29 East Maryland. 1861-1872: CIVIL WAR EXPANSION The political and moral turmoil of the 1850s over the question of slavery resulted in the secession in 1860 of South Carolina from the Union.  Ten other southern states quickly followed and the government faced the issue of whether this union shall persevere.  Although deeply divided on the issue, Indiana's stance was strongly defined in November 1860 during a post-election speech by the successful candidate for lieutenant governor, Oliver P. Morton.  His words, "If it is worth a bloody struggle to establish a nation, it is worth one to preserve it," made him an instant and controversial national figure Becoming governor in January with the appointment of his running mate, Governor Harry S. Lane, to federal office, Morton about with his customary vigor to prepare and execute Indiana's strategic role in the War of Emancipation.  As volunteers poured into Indianapolis (12,000 in the first week), appointed Col. Lew Wallace adjutant general, Isaiah Mansur (the owner of a local pork-packing plant) head of a commission to feed the troops and Thomas Morris (the pioneer railroad man) quartermaster general.  He designated the old fairgrounds Camp Sullivan and the new fairgrounds Camp Morton directing the immediate conversion of the horse barns to barracks.  Before the end of the war, Indianapolis had 24 camps in operation, the largest of which was Camp Carrington between the Canal and Fall Creek near 15^th and Missouri streets. The impact of the war on the local economy was prodigious.  It brought prosperity as well as inflation and privation.  Businesses furnishing clothes, food and medicine made fortunes.   Glasser and Mitchel Co., founded by a German immigrant, mass produced clothing under government contract and Kingan and Company, Ltd. became the world's largest packer of pork. The Civil War changed the economic and commercial base of the city for the next century.   Concentrating along the rail lines south, east and west of the city, businesses multiplied and flourished: cotton and woolen mills, pork packers, foundries, glassworks, buggy and wagon works, saw works, wheel works, paper mills and factories that produced pumps, starch, varnish, pianos and sewing machines.  The city's tax base doubled in five years and reached $30,000,000 by 1870. The National Currency Act of 1863 gave the city six new banks in that year.  Two survive today: Indiana National Bank and Merchants National Bank. Perhaps the best indicator of the radical growth the city was undergoing was the amount of economy.  This barometer increased from $467,000 in 1860 to $8,500,000 in 1870.  In the same year, real estate sales were booming and exceeded $5,000,000 in value. The city expanded on all sides into neighborhoods such as Waterloo, Bucktown, Christ Church Cathederal, 1900 Indiana Historical Society, Bass Photo Collection English's Hotel and Old English Opera House Indiana Historical Society, Bass Photo Collection, 20636