The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1838-09-18 00:00:00

THE BIDDLE COTTON SPECULATION.

TO THE EDITOR OF THE LIVERPOOL STANDARD.
Ste,—l have lately remarked many notices in the Liver-
pool papers respecting the Biddle Cotton Speculation, more
especially in the Mail. Many of the statements have doubt
less been furnished by persons who understood something of
the business; still it appears to me they do not fully com-
prehend the whole nature of the transactions. I was in the
Southern States last and part of the present year, and nad
an opportunity of observing some of the operations of Mr.
B.'s agents.
When Mr. Biddle found he could not renew the charter of
the United States Bank, he procured a charter from the
State .of Pennsylvania. In the summer of last year, all the
banks of the States stopped specie payments. Mr. Biddle
put his forefinger to his forehead, and said, " I have it here."
Tke old notes of the United States Bank were reissued. Mr.
Biddle appointed numerous agents in the cotton-shipping
ports, even as far as the territory of Florida. These agents
were well supplied wiih the 01a notes, which they issued to
an immense extent, selling them at a premium for such notes
as would purchase cotton, to parties who were on their way
to New York to purchase goods, or who had remittances to
make; these bills, from long habit, having obtained a better
standing in the country than the bills of any bank in exist-
ence, especially at the time. Now, Sir, Mr. Biddle accom-
plished a very great deal by this contrivance: he saved the
expense of issuing new notes; he procured a premium on
his old paper; be saved interest of money; he partially mo-
nopolised the cotton trade, and he did all this with pieces
of dirty paper—with the notes of a bank not in existence.
How good such notes may be is not for me to judge. No
doubt they are good, and will be some time redeemed by Mr.
Biddle; but in the mean time, while the Americans are
holding this paper, Mr. Biddle is holding their cotton, and
receiving remittances from England and France (if not in
bullion, in quite as good) as an advance on the probable nett
proceeds of his cotton, or rather his old notes.
I wish all the Jews could be transported to America, to
teach Jonathan how to do his business.

I am, Sir, you►s to command,
Liverpool, Sept. 12th, 1838. . FUMO.

MARRIAGE HOAX.—Yesterday, at the Police-office, Mr.
Ross, of the Liverpool Chronicle, applied after the business.
of the police-court was over for a summons against Mr. Wm.
Davis, dell: and nephew of Mr. Davis, of the Lyceum
Vaults, for having forged the signature of a respectable gen-
tleman of the town, which was attached to a statement of the
marriage of his daughter. This statement had been inserted
in the Chronicle, and turned out to be a stupid and ill-natured
hoax. The same young lady had had the same trick played
on her on a former occasion. The patty of whom he com-
plained had himself brought the letter, and was thus recog-
nized. Mr. Hall recommended a civil action as the best
mode of punishing the party. Mr. Ross said this would cer-
tainly be resorted to, as the lady's friends were greatly an-
noyed at it. The conductors of newspapers generally did all
in their power to prevent the insertion of false statements of
marriages, but it was impossible sometimes not to be de-
ceived; and the parties gu►lty of making such false statements
richly deserved, when they could be found out, either a sound
horsewhipping or an action being brought against them.
THE EXHIBITION OF PAINTINGS.—This exhibition
opened yesterday in the Exhibition Rooms, Postoffice-place.
The rooms are crowded with paintings which we shall on
future occasions notice in detail, according to their merits.
The hasty glance we had yesterday of the numerous paint-
ings has ►eft but a confused idea of them on our minds.
Theie appear to be a greater number of respectable paintings
than before, but few which deserve to be ranked in the higher
walks of alt. There are a number of Pennington's elabo-
rate winter scenes; several of Williamson's exquisitely
finished fairy landscapes, and a number of Havell's glowing
sunsets. All these are pretty patches of landscape and
sentiment, but nothing great. The principal 'painting
in the large room is taken from Collin's Ode to the
Passions, by Mr. George Patten, A.R.A. This is a fine
painting, rich in colouring, and well drawn and de-
signed: we speak, of course, merely from 'a hasty
glance. There is one of Cooper's cattle pieces, rather unfi-
nished, which is however a good painting. There are the
usual number of nobodies--" portraits of gentlemen"—stuck
there to occupy space which would be better' filled up by
something fit to con'ernplate, rather than the unmeaning
phizzes of persons valued perhaps in their own family circle,
but. whom the world knows not, and feels no interest in. It
is too bad that the portrait of every "gentleman" who has
twenty guineas to spare to get himself immortalised on can-
vas, should be stuck up to catch the gaze of people who care
not a sneeze about the man, and who never beard Of or saw
him before. We can extend an excuse to the portraits of
ladies, if the originals are pretty, or if the portraits be flat=
tered, because then they do to admire as pretty pictures ;
but, faugh! the notion of looking at a than as a'pietty pie 7
ture! Those men who haVe distinguished themselves form
an exception, of course; because then we study their portraits
to find out. the lineatnents of that ability, which distinguished
them. The portrait now of Mr. Fletcher Raincock, as the
portrait of a gentleman much respected and the senior of the
Northern bar, is a fair exception and enriches an exhibition.
There are several very good water colour paintings, and also
several good busts; one especiallY of his worship the mayor,
which is an excellent likeness. We shall recur to the ex-
hibition more in detail; and at greater length in otir future
publications