The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-13

another is proposed in New Orleans. Failures con-
tinue-the banks curtail-and the prices Of every
thing are coming down. Celesteis at Mobile kicking
up her heels. Great excitement against the folly OF
the banks prevail all over the south. Annexed are
the most important extracts
The Honorable VIM. III. Wharton arrived in this
city from Washingon Sunday, and takes passage TO-
day in the schooner Geaeral Houston for Texas.
STEAMBOAT Burnt ANs LIVES Losr--The steam
boat lone burnt TO the waters edge the even
sg of the Both ut while descending the rver opposite
Gov. Romans plantation. She had on board several
passengers and upwards of 1900 bales cotton. The
clerk, barkeeper, chambermaid, two negro boys ana
several passengers persisted. Among The saved are
the captain, who swan ashore with ms VIE ana
youngest child-tne steward and one passenger, VINO
rescued Capt Mllers two other children. we nave
not learned the names Of those passengers ios'-
| True American.
TBE JosrrHs.-In connection with this subject, We
were favored with sight ola letter from Charleston
| nv Yesterdays Express Mall stating that Mr.. Levy
The agent of the Josephs in city, had by his nego
! tiaions, involved two or three heavy houses IN King
street. and had drawn largely upon two banks. He
has nothing to show for his liabilities. The amount
of the whole transactions is nearly half million. =
Strong suspicious entertained that the Rohschlds
not the hackers to the Josephs Such is the sub
stance of this letter, to gentleman standing high IN
the commercial world at New Orleans. Every rcl-
ance may placed upon the informalion.-I6ia
Large numbers OF our principal merchants have fail
ed -gone-and whoi is to take their place? Why, the
younger merchants TO be sure-thosc who have been
denied any hand privilege in those institutions char
tered for the express purpose OF benefttng the public
-BANKs-the partial humbugging banks-who have
been continually aiding and abetng the sickly, lord
y fe 10 the entire exclusion OF the meritorlous de-
serving MANI. These whose little notes they have
never been able to get dscounted-notes which have
been cast out OF the banks with little ceremony
we would eject burglar from our door, will now
stand some chance of being noticed, and the owners
receive that assistance which really belongs 10 them,
and Of which they have SO long been dePnved-and
all TO fill the pockets Of the pampered, arlsocratla
monopolizing few. The system of favorliism which
has heretofore been carried by the banking ins-
buttons in the valley Of the Mississippi is gone-gone,
| we hope, never TO return.
city will in the least reard its prosperity is all
moonshine. On the contrary, nothing-no one act OF
either he general or state governments could have
| elded 10 produce more healthy state Of affairs
mong all classes, than these very failures and short
suspenslons-wlh one single exception, and that one
| a miserable ACKNOWLEDGEMENTS.
OFFICE or THE TRuE AMERICAN, April l.
| The mail failed 10 bring us dates direct from New
York 10 the 23d March But every appearance leads
US to believe that the Josephs have not resumed pay
ment Whether they will resume, is question that
must be settled satisfactorily by the next mail at far
thes,. Meantime money Is exceedingly scarce III TINS
city. Nor will II become plentiful TIL the Banks dis
count good paper 70 meet the business wants OF the
community. There is great trembling and uncertain
ty Among dealers. Another great house went by the
boards today,-for what amount we have not yo
heard. Every thing is involved IN mist and secre
cy IN New Orleans, that il is almost impossible L
get al correct information. The time must AM
that 100 rapidly, that business mot negotiations 70
business) must be done openly and above board. w
want bankrupt law that VIII draw the dividing linz
firmly and strongly between the solvent citizen anC
theinsolyeni one. We want law made 10 bring tn
banks 10 Their senses and 10 make them adhere L
charters strictly and without fear or favor In tn
| 1t fng mi all bp
cit.
The operations in Couon aad other produce ar
, limited 10 small sales. We have changes 20 DO
tice worthy of attention
WORTHY or IMTArioS.- beg 10 call the atten
ton Of our readers the notice Of the Directors OF tn
I City Bank. In this time ofscaTciiy, when all classe
more less feel the pressure, this generous resolve
adopted UNANIMOUSLY by the Directors of this nsttu
ton, entities them 10 The best thanks of the communi
tyand more especially of the commercial portion OF il
This we denominatc as true patriotism and phian
trophy.
Ne hope tina, the noble example set by the Direc
tors of this bank will be initiated by the other smia
institutions Of New Orleans some Of which have wit
reason been charged with facll ,atng the interests
: the feic 10 the mnlfest injury Of the many.
. The example given by the Directors Of the Git
Bank, in SO noble and energetic a manner, steppin
forward TO administer antidote against any dstres
rembarrassments which our citizens may experience
is above all praise.-Courisr.
TnE PREssuRr.--The True American Of this morn
ing holds the following forcble and lust language o
the causes which have brought about the existing pres
sure. In speaking Of the Mobile meeting il says
the subject be probed 10 the quick il will be foun
that speculation, oyertrading and oyerbanking are
the bottom Of the evils"
The remarks arc applicable to New Orlean:
Ibid.
\ NOZZLE, ArRIL 6.--TnE RAcrs-C LrBs SEcoS
DAy.-Wc had beautiful day Yesterday. The Bas
combe Course was well attended, although there wer
not quite so large asscmbage Of ladies' we though
graccd the Course the two days previous. Contra
~ TO expectation, but two nags were run, BreBo an
lone, Mr.. STARKE having concluded in the rnornin
not 10 enter Tom Cringic. Every body seemed /
1 be OF the opinion that Bremo, stout, haze and fin
looking horse, with name already earned, woul
beat the slender lone without eiiortand for thi
natter every body for once was nearly right. Bet
were freely offered OF 1000 TO 500 $500 10 $50 an
500 to $40 IN favor OF Bremo. The ladies who be
dear souls we believe, were losers in this race-fo
they all took the y dcd odds and most natural
sid1d with lone.
The starting for The first heat was tolerably good
Bicno got the lead and kept ~ gaining more trfi
until reaching the centre OF the back stretch whcl
lone made play 10 come zip with him. She gained
ltlle for a few sCconds-thcn held her own-thci
gained auain-ihCn l0si-thcn lost mOre-lost Oh
turning the bend 10 come up the quarter stretch
came hi the first mile and passed on or the second il
! qosd earn-et after her ungallan runaway, who, az
M were determined 10 be OF from such partner
jumped ahead with will Keeping well IN advanc
| The second mile round and winning the heat nj hi