Page 75 - PC Living Jan-Feb 2017

Bank with Us and have more me for what ma ersFull Service Local Banking Online Mortgage Center Easy Online & Mobile AppsPEFCU.orgLive or Work in Bay, Holmes, Washington or Jackson Coun es?YOU CAN JOIN US!Member NCUARailroad spikes and other unidenti ed iron fragments discovered at Iola.Detail of a 15 foot long iron strap rail found by Tom Godwin and Stuart Resmondo buried beside the railroad bed at Iola.about one hundred." Do you suppose Walker is becom- ing disillusioned with his "paradise?""...it is impossible for me to come home unless I could sell my property which I can not do at the present without sacri cing it as the currency of the county is in a deplorable situation at present and property will not bring its value..." S. H. Walker, Iola, Dec. 29, 1839.The above quote is indicative of the banking crisis of the nation that a ected Florida, which defaulted on its loans to the Federal government. This only complicated the "very sickly fall" that Walker also mentions. His brother, Nathan, died that year of malaria. S. H. Walker does remain optimistic as he speaks of a busy season with 16 steamboats arriving at port and by roads from Tallahas- see, Marianna and Mt. Vernon being constructed but political factors come into play for investors."The business at this place and St. Joseph is brokenup for the present by the treachery and valiancy of the President and three or four men of the railroad compa- ny residing in Columbus, Georgia by selling their inter- est and in uence to the Apalachicola Land Company for the bribe of about $100,000 in cash and about an equal amount in town property in Apalachicola City,and thus the citizens of Iola and St. Joseph are ruined for the present by the valiancy and faithfulness of men who have heretofore been considered among the rst men of Georgia. ... The last of our property now if sold at auction would not bring 12 1/2 cents on the dollar of the original cost... Florida money is 40% below par and some of it much more. The new bank that was built in St. Joseph has suspended operations...I shall leave here tomorrow. ... Please direct the next [letter] to Tal- lahassee." S. H. Walker, Iola, Jan. 17, 1840.It became clear that by 1840, Iola was in decay. The railroad and banks were failing."No doubt you have heard of the murder of Harlin's (sic) wife and two children by Indians". J. C. Taylor, Iola, Mar. 15, 1840.[The Indians] have taken Indian Key and murdered a good many families near Monticello in the east and when the soldiers nds (sic) them they were afraid to attack them and rebounded back to camp and left them. The people of Iola is (sic) very much frightened. They hear guns every night over the river. Ann M. Walker (Sam Walker’s sister-in-law), Iola, Sept. 3, 1840.CONTINUED ON PAGE 76www.PanamaCityLiving.com • January - February 2017 • 75