Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-05-09
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beings towards Gen. Jackson because nc
has donc SO much to promote their lnme-
diate interests; and then ldvOrs them with
n long list of these unrequite1 services hfst
in which, of c1urse, appears The Bll'le OF
New-Orleans. The mere name Ut this once
Eourishinr city should, Wc think, have sug-
pested to the writer Of the Court journal,
some thought NJ its present position, and
the enquiry whether, il it had fallen prey
TO Packcnhan and his followers, it would
have presented picture OF greater distress
and desolaion than it now does highied
by the constitutional currency system oil
General Jackson New Orleans the lnu-
rels gathered there arc TIhering in its ri
ms
Next come the in IDENTITIES from foreign
powers, and even the chastisemcnt of Ma
laws on the other side OF the globe where,
by strange flight Of fancy, it is said the
name of Andrew Jackson has become safe
passport.
We will not pursue further ihc list Of
credits claimed for Genera jackson, and
but cast a glance over the debtor side Of
the account. On that side, we charge a
gainst him, in a lump, The proslraton Of
every branch OF industry, aud every des-
criplion Of property, in the Uni!cd States;
not OF the merchants alone, or mercantile
cities, but of producers Of every descrlp-
ton, and the whole country. At this mo-
ment even, bankruptcy has reached the pre-
'cincls Of the Hermitage, and has become
the To-, OF Gen. Jackson's personal friends
and devoted adhereuis.
For the particulars, we have recourse 10
the following from an able writer in the
National Gazette, under the signature OF
Examiner. - CoHr. g. Eng.
"1. The failure at New Orleans OF all
but four or five OF the principal cotton fac
tors, through whose credit and capital the
planters of Louisiana, Mississippi, Tcnnes-
see and Alabama were enabled 10 purchase
lands and slaves TO improve their planla-
lions, and toanticipaie the proceeds Of their
crops, involving responsibilities estimated
at thirty millions Of dollars.
2. The failure al New York and phila-
delpha OF several large houses, who we're
under acceptance OF New Orleans and 9th
er Sou hern bills Of exchange. drawn in an
ticipalion of shipments olproducc, or re-
lnitances Of sterling pills, which were new.
er made, owing 10 the failures Of the draw
cis.
8. The embarrassment or ruin Of the par
ties who had purchased these bills at the
South, many OF whom were country mer-
cImutS, and The consequent loss or embar-
rassment Ol tie merchants Of New ork
aud Philadelphia, 10 whom they were re-
mited in paymtn, of debts.
A. The fIilure in New York Of more
than one hundred and fifty merchants, bro
kers, manufacturers, and Wholesale dealers.
since the 10th OF March, The day on which
the news OF the disasters at New Orleans
reached that city, involving an amount of
responsibilities estimated at fifty TO Sky
millions OF dollars.
5. The embarrassment and ruin of a
large number Of sma dealers and manr-
iactureis oil over the country aud in the
cities, consequent upon failures Of large
dealers.
6. The failure of many large monulac-
lurers in Massachusetts and Rhode Island,
by which thousands Of aborng men, wo-
Tuen and children must be thrown out of
employment.
7. A pressure for money, which has ex-
listed for many months, and which. since
December lasl, has shewn itself in Boston,
New York and Philadelphia in the market
rate Of interest n, from one to three per
cent a month upon the best mercantile pa
per-
9. A general prostra;i1n OF business al
the north. by which sales of 70 species of
merchandise ar property can be forced
without Il sacrifice Of from 90 10 so per
cent.
9. A general depression ia the market
price Of lank, insurance, rail road and OFT
er stocks, arising in part from the pressure
for money, and in part rom the apprehen-
ded losses Of banks by failures, and of olli-
or corporations by diminished business.
10. A fall in the price Of cotton in Eu-
rope and this country Of SIX cents per h.,
which, upon the one rlilliun of bales sup
posed 10 be still held al lone and abroad
Oh American account amounts to 90 mill
IONS Of dollars.
u. A fall in the price OF tobacco equal
10 IS per cent upon an export Of eight mil
llnnsOl dollars, and amounting Ia Two mill
ions, by which a number OF failures have
been produced in Richmond and other pla-
ces.
u. The ruin Of many purchasers orpub-
lie lands, who embarked in speculalons,
owing 10 the facilities offered them by loans
Of The public money, RAISED by other sales
81 public lands.
10. The almost entire stop pnl 10 inter-
l1l Improvements in some ol the states, 6.
ter partial suspension in olhers, owing
% The want Of funds, and the impossb.lilv
OF Obtaining loans on any terms 10 carry
tiCm Oh, by which means thousands Of la
horcrs WILDE deprived Unemployment.
-. Tie almost entire sop put 10 the
commencement oi new uilliUgs ia large
cities, ani particularly in New York. b.
which thnusa nds Of mechanics, snch as car
penlers, b9lckiayers. masIn4, brickmlkers.
painters, gilZ,crS. carriers, cear-Iiggers,
timber cutters lime burners, marble masons,