The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1837-04-26

earth, let us rejoice, for the Millennium Of
health is at hand. II.
We acknowledge, with thanks, the re-
ceipt of"An Historical Sketch" "by"A Ma
tive of Newport" which we shall! have the
pleasure of presenting to our readers in our
next paper.
MONEY MATTERS.
From the New York Herald of Saturday last
HIGHLY IMPORTANT FROM NEW
ORLEANS.
The Express Mai, of Yesterday afternoon
brought us the most disastrous intelligence
we have yet received from the south west.
The failure of Yeatman, Woods & Co., n
great bankin. house, will carry one half
Nashville and Tennessee with them, and
touch Philadelphia to great extent. The
spirit of bankruptcy will now sweep over
the whole land. Nothing can stop it. We
dread The effect on this city.
New ORLEANS, April IA, 81.
Friday, 10, 4. NJ.
The bankruptcy goes on rapidly. Since
my last, | have to record tho failures of y.
d j. Dick & Co. for fifteen millions of dol
lars Bullet, Ship & CO., two million five
hundred thousand dollars; Wilcox & Au-
derson one million; Buchanan g. Hogan,
who had been propped up by the banks, one
million Hagan, Niven & Co. five hundred
thousand ; Caruthers 81 Harrison, one mil
lion; Martin Paeasants 81 Co., three mill
lion; Yeatman, Wood s; Co., amount not
transpred, together with some smaller hous-
ps- ttn l..
twenty seven millions all in two days. Nor
is this ALL Ersry house in This city must
so. This is no fancy sketch. Those we'll
acquainted with the secrets of New Orleans
commerce are bold in asserting that moth
ing can now save the city. Suspension of
specie payments is now openly talked Of
Great uneasIncss exists among the holders
of notes. One thing is ascertuiaed-thnt
the amount of money coined and put in cir.
culation by the New Orleans banks, ex-
ceeds the TRUE value of the staple and pro-
duce of The West and South more than six
tv millions of dollars.
Not bale of cotton-not a hogshead cf
tobaccn-was sold yesterday. 1t rained all
day in torrents.
The news from Mexico 10 the 3O,h, tells
of great internal comnCiion in that devoted
country. The expedition against Texas 10
abandoned. Santa Anna is growing in ia
vor with the ruig0rs.
THE TiMEs-WoRsE AND woRsE.-The
pressure is tightening. Our merchants are
failing faster and faster. Until within
day OF two, we were called upon to record
but one or two suspensions a day.-Now
they come upon us in platoons. Within
the last eight and forty hours, wo have heard
that some six or eight houses have gone,
whose combined liabilities amount to over
twenty-four millions of dollars The Ii
abilities of one house alone, are said to he
fifteen millions Of dollars, but who show as
sets TO the amount of sic, 100000. Ii
seems hardly possible that one firm could
have been engaged in such an immense
business but nevertheless the report is
current, and entitled to credence. The
smaller houses must come next, there is no
help for them. The nOnsensical idea Of
the Banks assisting, in times like these,
houses to whom they have never shown
mercy, is all humbug, rnoonshine. They
hnd II extremely difficult to hclp even them
selves.
Heretofore we have noticed no failures
excep, among the miIlionnries; now. as
ihcv have nearly all gone, we shall COM
mence with the small fry-houses of less
notoriety-such as 100000, 100000,
and so on, down 10 the insignificant fail
ures for twenty and ten thousand dollars.
1t will come awkward at first, rs we have
become hsbiulled, whenever we have had
occasion TO put down single figure. 10
string along some sin or eight cyphers after
it.-People now-u-days speak ot large.
sums of Money, as though 1t we're sands
upou the sea-shore.
The question is often asked US. when will
this alarming state Of affairs cease' We
answer, not until all those who have been
doing an Legitimate business land, We arc
sorry to say it, many who have heen unwi,-
,ingly dragged into the whirlpool OF ruir)
have gone. The question is also asked,
who IS ,o blame fir ~ this The hanks.
~ a arca, mcrs"re, We an.wcr. They
hare leHlsIly discounted ,he notes ut iev