Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-07-26
ver the son of the king being the legal heir to that

22d.
We understand tina. the officers of the excise have
been engaged in taking the stocks at The dnele ZEN
large London brewers whlchs supposed 10 De Ia co'i
temptation of he early production OF the budget
The Earl of Eldon yesterday took the oalhs ana MS
seat IN the House Of Lords we regret 70 '. ''' To-
tie venerable earl was so lnfrm as 70 ieqIno H. -
supported into the house by two persohs' uu .I 20
understood 10 have declared, that as ime was saiu
able with him he could no lose moment III SNOW
ing his respect for the monarchy OF tns oou'!, oy
signing forthwith the oaths OF iiuei y "N' ''
10 her majesty.
The health OF Queen Adelaide, we rejoice TO So
is better than i, has been As proof of her majesty
lunehed with the family today, ana mas sgnisu her
| intention OF dining with them thus evening
The funeral of William the Fourth IS appointed 10
take place on the 9th of July.
II curious and laughable to read the opinions Of
the English press in relation TO our suspensions.
We certainly did set an example ofmora dishonesty,
that we should have been ashamed of. But, hear the
Liverpool Mail ofihe 22nd Of June
For the purposes of internal transactions paper
money may serve as a sort OF substitute Tor actual
cash bn when It - put IN place OF The specie debts TO
foreign creaitors, II IS literally OF h''le value The
present American currency reminds US OF The tlmsy
currency OF France during the REVOLUTION, as We'll as
of that of America ltselfdurng what was called 1.-THE
Of Independence the vaueless assgnats, ana
tie equally deprecated continental paper, being on
a par with that which is now introduced In each
case, the substitute for specie was worth about awen-
ueh part of It's nominal estimate. In few months,
are likely TO have the same to record Of the ne"
American rags
The London papers, we perceive, throw consdern-
BILE blame upon the New York banks for having
commenced the suspension OF specie pay ments. Ihat
these banks have been injudlcous IN most OF their
movements we doubt NOT, bHfJiJs only far 10 state,
that SO earyas the 2ndof May one OF the depos'te
banks at Natchez-a government bank--had refused
TO pay specie for a government draft! Thus, II u
be worthy Of speculation whichpayed the rogue irsl
the government bank or the private bank, II IS clear
! that the Van Buren, bank had the start IN dishonesty
by week
The bubble at length bnrst-he conspiracy reveal
ed ltself-the fraud was exposed. The metallic CIR
cHlating medium OF the United States IS frand-the
prosperity OF The States is fsand-ns wealth IS
fiction-its capabalty 10 pay us debts only equal TO
ITS incnarion which is an inclination TO pay nothing
at all X is a fact that while the prices III cotton
were advancing IN Liverpool, and when no man IN
America dreamt of the reverses in trade which have
since ensued, the merchants OF New Orleans, owing
large sums in Eng and, having all everdrawn Their
credits, suddenly suspended payment 10 an amount
exceeding twenty Millions OF dollars. II was wllful,
! deliberate, and feonious suspension. They resolved
not to paw and accordingly, they stopped. They had
] obtained all they could possibly extract from Eng
land and they determined TO Keep what they had ex-
| rac,ed no matter who should suffer or appear TO
| suffer on this side Of The water. The merchants
bankers and traders of New York and other towns
| followed the examl lie OF New Orleans, and one uni
versal suspension OF payments, one destructive act
i -
lax laws, of demorazlng insttuhons Of dishonest
| legislation, and swindlng citizens
Speaking of the United States Bank, ne says:
The United States government must recharter the
United States Bank. We advocate the replacing OF
ina, bank on its former footing, because we think Mr.
~ Bidde to be one OF the lew men wiling or able 10
keep faith with England.
Indecd The editor Of the Mail is in bad way.
He knows little of this country, 10 suppose that PHI
ladelpha will ever be agalA the monetary centre OF the
States As to keeping faith with England, we should
| be sorry if Mr.. Bddle was the only honest man in
| the Union.
| But all this il nothing 10 what follows Look out
| Americans We shall have the English navy upon
us before September 10 compel US to DO honest Ha!
ha. ha!
| Upon the whole viewing this monetary revulson
in the United States premedatod conspiracy for
the purpose of dfraudns English creditors, and see
ing moreover, that the American government, as
well as its state assemblies are lending themselves 10
the f aud, think the time Il come when the CIR
cumsances demand III. prompt and energetic inter
ference OF the British government. Ii riakes very
little or no difference whether The ship OF Bntish
merchant is taken and pluHderod The high seas by
| n foreign pirate licensed by his government, or whe-
Their the property of the sad merchant Is wrested from
him by political trick, the act IS not one whit
more unsuitable than The other. In the latter case,
az well rs the former, an honest and nncompromislng
| government whose subjects suffer this wrong are
bound in duty 10 interpose. l., therefore, the govern
ment OF this country had any courage, irhu-
enced by any sense of justice they would forthwith
Law an embargo on every American ship in the ports
Of England, and send out powerful fleet 10 seize
those in the ports of the United States, and keep and
hold The same until ample Justice is done the mer.
chants and manufacturers OF this country by the ct
zens and government Of the republic.
However we excuse the spleen Of our brethren in
England. They must have some object 10 vent il
upon. As we have proved ourselves honest without
"kcking," and behaved like good fellows we pre-
sumo they will now turn upon the Canadians for
daring 10 suspend or upon Lord Melbourne for hold
ing office under the ustrious Alexandrina
We give the closing prices Of stocks a. London the
22a of June.
Bank Stock ro6i per Cent Red, gol; 81 per Cent s7l
81 per Red, gl 81 per Cent 9es Lorg Ann to
pe 1850 IL 9l6 India Bonds 81 pm; Ex Bills 1o00 Is
pm; 50oL 70 pm do small % Bank stock for opg
Conses for Account ela
| Correspondence OF the Morning Herald
LIVERPOOL, Saturday Evening, Path June, 1887.
We have had good demand tor Cotton throughout the
week. full OF the last week-the prices
OF the lower and mddng qualities particularly has been sup
ported The sales, follows 10 Sea Island, sd q III
1850 Upland AID 81; $50 Orleans AID 8Id 8I6o Tennss
see and Mobile 4d 7ld 43o Pcrnsmbuoo Id eii loo
Bahia and Macao SD I'D; $50 Maranham, Cd sd; 4owes
India 81; Laguira sd 7 10 smyrne ID. 10 Peruvian
nd 400 Egyptian I'D i 10 l3d; 30 Manila, 5id asa
surat pad 5!d GOO Madras 3d Sd $50 Bengal IA a3sd-
a.auf Ap.gr