Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-05-29

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pie in order to inquire into the proprlety OF orhgns
the recent suspension of specie payments before '"'
next Grand Jury, and also to ascertain exacuy tux
state Of the law en- that important affair. In ne'
country and in land of law 1t IS generaiy oene'eo
that evil affct society, without some remedy
being within the reach Of the aggrieved The clnases
Of the Revised Statues, applicable to the important
question at issue, are the following
Every person who with intent TO cheat or defraud
another shall desgnedy by color OF any false token
or writing or by any ether false pretence, obtain the
signature of any person any written instrument, 81
obtain from any person, any money personal Prope,
/ ty or rdiuabie MinS upon conVicuon tnefeei shaii
| be punished by imprisonment In state PRISON not
exceeding three years, or in county jail not exceed
| ing one year. by fine not exceeding three times
the value of the money, property or thing SO Obtained
| or by both such fine and imprlsonment-2 Vol. Re
| gised Statutes page ST., sec. So.
Itwo or more persons shall consprc either to cheat
and deraud any person Of any property by any means
which are in themselves criminal; or TO cheat and
which, if executed, would amount to cheat or TO
obtaining money property by false pretences, or to
commit any act injurious to public morals or TO trade
or commerce, they shall be deemed guilty of INSIDE
meanor.-2 Vol. ferised Statutes, page 69l sec. 3,
| subdirisions4, 5 and 6.
1t will be reco.lec.ed that about year ago, the
journeymen taiors of this city indicted tried and
convicted point of law less clear less cogent less
precise in its terms than the clauses furnish.
On that law the Supreme Court Of this State passed
its solemn approval The alleged crime Of the jour
neyman tailors was combination to raise wages,
and to obstruc trade by overt acts, having such ten
dency The suspension ofspecie payments, by all the
banks in this city and state, comes undoubtedly under
the statute, and all those concerned nhat movement
are clearly indlctable for the offence
uIafia of fha hank Q in q
IS, 900, OOO-that of the country, sl0000000 The
contract which these banks entered into in receiving
their charters was to furnish paper currency paya-
BILE in specie on demand. For this purpose Safety
Fund was created, and money paid into it. With spe-
Gle in their vaults to the amount of four five millions
all these banks combine and stop specie payments,
thereby violating their contract with the public, at the
very moment they possess property IN hand.
Now, in applying the existing law to this state OF
facts, the becomes as clear as It IS possible for
any case to be. The grounds alledged for indictng
the ourneyman tailors last year, were not half SO
strong-haf SO tenable-half fragrant the
grounds for ndicting all the bankers and state
officers concerned in the suspension of specie pay
ments, for a general conspiracy to cheat and to
defraud.
But this is not oil. We have precedent before
In the year 1896 the managers Of half a dozen Bond
Companies, who failed to comply with their engage
ments were solemnly indicted by Grand Jury, and
some of them convicted and punished. The moral
sense of that day was thoroughly walked up through
the New York American" the respectable organ Of
the sentiments Of the house of Prime, Ward q King
Wall street. We do net believe that the lapse of ten
years or breathing the euvia Of Wall street for that
space of time has blunted the sensibltes Of those
worthy and excellent men, with Charles King, and
many others who in 1926 exeried themselves to bring
the consprators TO justice.
These opinions, views, and resolutions begin
ming to attract the deepest attention OF great portion
of the community. The perpetrators Of the grand
fraud called suspension of specie payments, has
opened a door for all kinds Of vainy, folly, extrava
eance and roguery. The city is now flooded with the
rredeemable paper money of other states half of
which will no dosbt turn out TO bcpapable frauds be-
fore SIX months shall have elapsed Individuals are
also issuing all sorts Of shin plasters-nnd every
facility begins to be given 10 swndlers on large and
small SCALE. The legislature, present general and
state officers have all became parties TO the fraud by
passing laws only unconstitutional and void, but
laws authorising and encouraging fraud and swnd-
ling of every kind. The suspension law and the
mortgage law are both the greatest outrages on the
constitution and the first principles Of morals that
ever were conceived
Such is our present condition. and in this state Of
facts we learn that large body Of the people are be-
ginning to inquire whether, il the utter degradation Of
banks and legislatures the criminal laws and crlmi
nal jurisdiction of the land do not furnish remedy
to the great and growing evils Of the times capable Of
checking the further progress Of fraud and violence.
We know that several of the banks in this city were
hostile TO the suspension Of specie payments and that
All the solvent ones now determined 10 return TO
their former honest as soon as possible and
when so, they will not, of course come under the
new remedy Be that as il may, il is high and inn
porant duty to inqsire whether all those who have
taken an active part in the recent great fraud, from
Governor Marcy down, moi indctabe for con-
spracy to cheat under the Revised Statutes. If this
can be done, we have al once aremedy, instant and
available, without the necessity of waiting for the
elections next fall, or year hence
Let Grand Jury take the Hatter into their cons;-
deraton-et indictments be found for consipsring to
cheat-and let all the in high ofice,n state or
banks be compelled to gn before the swift ndgna-
ton of free, insulted cheated defrauded, indignant
people Let Justice be equally melted out to journeymen
tayors lourneymen bankers, or journeymen legisla-
tore We must have respect 10 persons. We there
fore trust the committee preparing TO get up the pub
lie meeting will proceed cautiously. We dislike pub.