The herald., 1837-04-12

the drollesi election ever saw take place
IT, W., S~prr~ 5aSKERs-The leading bank
- WAL street are Albert Gallatin Louis McLane'
c:oorre C;risyvold Robert White and few other anna
,,u,s and loafers Two Of these gentlemen have been
Secretaries of the Treasury heretofore one during
,be ,var IN irving tine-and the other during JACK
son's administration aaother trying time Inc othels
,,ore educated as merchants, clerks cashisrs, &c.
The skill. experience knowledge, and science OF
these nancjers are supposed to be OF the most his
cd character Indesd is necessary thatt should De
so The banks of New York are placed IN the cen
,al ,,aetop of the commercial world OF Europe ana
America. The first inequality ndds'urbance IN mo-
,e,,rv affairs ought always be foreseen by seen
,i6c men in such posi,i,n and remedy proVideo 10
,,n,aroc IN. evils Yet il is remarkable fact that
dnrno The last nine or twelve months no set OF men
have ever appeared 10 be supine, so ignorant 50
nattentye to the progress of events, as the bankers
of Wall street In England the directors OF the bank
of ENGLAND have always oreseen pressure anu ois-
,,rh,nce in the money market and have taken fnea
.uree accordincly Here in New York, we appear to
c, like loafers about the sirees-we pick up anhei
,odav--we lettomorrow provide for ITSELF One nan
;f moi two thirds of the terrible crisis we are drag
ans through. has been produced by the ncapacy ana
Ignorance OF those bankers in Wall street, VINO aiiec
~ reo,,lat, the monetary world The gross lgno-
rance of the poyernment-of Congress-ot the iegls
Iature has its fountain head in Wall street IL IS no"
two wears since the phenomena of the present Crisis
began 10 be developed Prices rose beyond their ma
tural value-exchange became deranged-specuiauoi
rose 10 the highest foy-yet the bankers OF wal
street did not see the storm coming or-er seeing u
did not adopt the proper remedy.
We shall now take up this highly important suolec
from the beginning, and show up the ignorance an'
pcanocty of the Wall street bankers, during the las
s;x wears Meantime, wa call upon all the stock
holders of the various banks, to besow Their atten
lion upon u.s. In the present crisis, the wall suee
hanks have lost probably teo millions q dollars al
ready and befo the hurricane IS yer, they may los
one-third of the whole banking capital OF the CITY
These losses have bean occaasoned by the utter N
,,apacity of the directors and fnancisrs, IN who's
hands have been entrusted the property Of seyera
thousand Innocent stockholders. If the director;
r,esiden,s and cashiers, had been mon of ordlnar.
skill prudence science or capacity, this crisis mgh
have been foreseen year ago, and prevented, or a
least amclIorated. Instead of looking ahead 70
SQUALLS the Wall street fnanciers, joined with tn
corrupt Wall street press and endeavored to blow
the mania of speculation TO its height, Madness AM
folly.
We call upon the stockholders of Our banks TO hol
general meetings at once before all Their property
gone for ever by the incapaciiy Of the Wall stree
6panciers Unless a remedy is provided the destruc
ton of the Insurance companies by the great firc
1879 will be oustrpped by the present tornado, scat
terinp ruin over the commercial world, and the panks
We shall shew in the sequel that one half of the dis
tresses of the country has been produced sy the g
rorance and incapaciiy of our great and talented
fnanciers.