The herald., 1837-05-06


Our private correspondence from Washington and
New Orleans is highly interesting. II Will be found
below.
The North Carolina banks represented to be
sound, although their bills at per cent discount
in the neighborng States. This is not to be won
dered at, when our own Safety Fund notes are at
discount in this city.
Adrien has been putting his wife under the table IN
Savannah
Miss Nelson has been exhibiting her /" fine limits
and full proportions" in the Mountain Syph, in Mo-
bile.
Our account Of the Phenix Bank of this city mani
testing some disincination to the drafts of
the Branch Bank Of Mobile chat institution hes
made arrangements TO have all their business trans
acted at another place. The agent is on his way to
the city.
Private correspondence j
WASHINGTON, May 4th, 1887.
The New York Committee had an interview with
President Van Buren today. Yesterday they called
upon him, and he appointed today for an audience.
They presented themselves at the stipulated hour,
and ushered into his august presence, not with
the obsequousness of serfs, but with the manliness
Of freemen charged with mission of vital impor-
tance to the interests of their country Prior to their
visit to the President today, the Committee repaired
to the Washington course TO enjoy the sports OF
the turf for a few hours, during one of the finest
days we have had this spring. The President, how
ever contrary to the usual ct quet returned the visit
Of the Committee today at Gadsbys, and was
excessively courteous and polite. He understands
how to gld the nauceous pill, and TO render the most
offensive moroccan palatable. II would appear that
Van Barren was desrous to do something TO relieve
the count from its present dlsresses; but he IS SO
situated say his friends that he is at loss TO know
how to 60 about it. have not yet learnt the result
Of the interview of today; but the universal i'm
preston here is that he neither will do any
thing for the country, for the reasons assigned in my
last. If meetings held in all the States, ex-
pressing desire that Congress should assemble at
some early day, he would consent to make the call,
but the wish OF single city would not, he thinks,
Justify him in taking such step. / shall let you
know tomorrow what answer has been made by the
President to your Committee
The pressure is beginning to be felt here, but nst
seriously The local banks are pretty safe from the
circumstance Of their not having discounted to any
great extent since they resumed specie payment a
few years ago. and the Bank of the Metropolis,
though its discounts have amounted to near two mil
lions is aided by the Government, whose depository
il is. The notes of the Washington banks, never
theless are not received deposit in the banks
of Baltimore Another operates in favor of the
people of this District None Of its citizens have
embarked largely in specuatons from their peculiar
| location, and the want Of means Many of them,
too in Office and receive their pay periodically
and those in trade, from the condition of the banks
have mentioned, have not gone much beyond their
means.
private Correspondencel
New ORLEANS, April 25 1887.
Trouble on trouble is assalllng The banks are
doing no paper whatever and the rates Of inter
est sut doors, are going up. But little, if any relief
can even be obtained from this quarter. There debts
are beginning to be shown in their turc colors They
,oiR not realize one third Of them The most intei-
gent men here at the head of banks say you arc per-
.fectly rgh-that there must be complete revolution
in commerce If not say they, the present will only
be prolonged few dragging years longer to burst Al
last with overwhelming fury the heads Of the limo
cent the deluded people.
Ii was known here 60 days before the general burst
ing of the bubble that the Josephs unsound. i
Barrett had had 40 days more he would have slipped
out of all his difficulties. Your statement respecting
the Josephs and Barrett is perfectly correct. Tn,
Jo.ephs were TO blame for suffering their q
out so xensivey. The loss in negotiating their papc
was enough to ruin any man, at the moderat
rates.
Some banks still have an idea Of issuing post note
at II months. They say it is delicate way Of sus
pending specie payments; but will they be any bette
prepared for paying year hence than now? Ou
banks are anxieusy looking for a suspension in New
York, and they will follow suit AT once. Why shou'
we have institutions for public credit that would eager
ly seek to be money colners 2 Is not the DANCE
greater than any good they efIect1
We have l0o, 600 bales Of Csitsn on hand. If sol,
al the present Liverpool prices for cash. the loss vii
be over millions. Tomorrow shall be able to sen,
you a statement Of all the cotton shipped hence sinc
the 4h of March, by whom, and thence can tell yol
almost to fraction on what banks the loss will fall
III tell you secret The Lizards have applied /,
the citizens bank for loan Does noths look ugly
The loan said TO be taken by Hope & Co. of Amster
DAM in favor Of Citizens Bank, for IA millions at pc
cent on the faith of the State, &c was merely put
account Of former advances to said Bank II So tina
these gentry arc no better off than their neighbors
tnhuph Forstall is a, the head Of the concern
voma, vorges & West three large house in Ha
vana, have failed.
New OnLEASs April 29th.-Hdney 1farket-Mo
| ney is as scarce "a ever. The new paper is dove
| whle the red marks are becoming more and more
| worthless. Meantime the money -enders, the Shy
locks of New Orleans fattenIng the time ii,-
duslry and earnings Of the honest man, who 10 kcer