The herald., 1837-05-09

The Express Mail last evening brings us doleful
counts from New Orleans. The failure Of two of the
banks IN Nashville under the of the Great FL
nancier OF Tennessee is Of course only evidence that
they have been trading on borrowed capital and
ought to break"
we nave long and curious extract from pr-
vae correspondent, respecting the affairs Of the JO
scphs, IN connection with the Barretts & Co of New
Orleans.
NEW ORLEANS, MAY lst, 1887.
Monday 10 A. nj.
Since my last we have been vacilatino between
worse and worse-no enviable situation. If our ety
banks do not come forward and discount rood paper
they will be forced to stop specie payments in ten
days. twenty at the farthest. Most of them have
disposition SO to do but they are held in awe by the
Citizens Bank that 1oiH take her own course. 1t NAV
give you some idea Of our distresses and ability to
bear up under them, when you learn that the supply
of circulating medium has besn cut Off since the
middle Of March. The business of this community
has been done upon the medium aoat and decreasing
every day.
Cotton is as great drag ever. Now and then
scattering sale is made, but nothing like to tae
you reported in the papers Of the city Prices
continue nominal.
The Express got in early this morning. The news
from England is calculated to depress US more than
Every body knows the fallacy of the arguments
on which the London papers have based their hopes
The failure OF the house, connected with this place.
strikes terror into the community as it is well known
it must be accompanied by others.
All kinds of produce are downtown.
The Presidents of the Nashville Banks are here
The Planters and Union Banks, of Tennessee stopped
paying specie Saturday, the 22nd, SO say the Pre-
sldents.
MExIco.-Extract Of letter received by Mr.. Kidd,
at the Merchants Exchange, dated Campeachy 9th
April, 1887:
Sir The last news from Vera Cruz state that
Admiral lie Breainere, Of tho French sqsadron before
that port, was going up to Mexico to demand redress
for the Frenchmen, who had been compelled to con-
tribute TO the forced loan imposed by the Mexican go
vernment all foreigners. The British packet for
England carried complaints of Mr.. Packenham, the
British minister, about an order he had just obtained,
to have taken out in mpos duties large fund of
l2 per cent deposited in Mexico on specie, but hard
ly had he carried this government order out of one
door Of the Palace, when out of the other door went
an express to Vera Cruz annulling said order. As
seon as the British minister heard of it, he went per-
sonaly to the Mexican President, and demanded an
explanation but all 10 no purpose The packet
detained one day with the hope that the affair might
be set to rights but no justice could be obtained,
there any expectation at present that the matter will
be peaceably adjusted"
General Francisco p Toro the brother-in-law of
Santa Anna, and late Governor Of Yucatan has re-
tired to his garden in the suburbs, where he remains
anderpretence of slckness-and much despised as
he formerly lattercd by the services Of Campea-
chy. Unlike the Americans, in Mexico every man in
office is dem-devil.
Even the Of this weak, wicked tool Of the oil
garchy is not mentioned any than if he had
been dead twenty years, and he dare not show him
self IN public for fear Of insults from the very indv
duas who would have kissed his feet and eandered
10 his vices three menths ago.
All was tranquil in the city at last accounts. The
British frgate Sybe having received specie on mer-
chants accounts at Vera Cruz, proceeded homeward
Bee.