The herald., 1837-05-11
Scenes IN Wall-strect, and about town
YesferdaY.

We what the devil will the little conurer do next
Within the memory of the Oldest inhabitants, as
they say of cold days in winter New York has not
witnessed such scene as was yesterday exhibited.
For two days before runs had been made on the
banks, 10 such an extent, that one could have
stood it day lenger. Every loafer in the city, who
had five dollar bill crowded the banks for specie
The mania increased-meetings were held and yes
terday morning, the papers announced suspension
of specie payments.
The crisis all of a sudden, and the whole city,
from the Battery up to 396h street was overwhelmed
with shower of astonishment. Five Points was IN
a hubbub. Every one asked his neghbor, as to the
probable state of things and matters of finance were
discussed in the cellars in Orangcstreet
The sun rose bright and unclouded, giving promise
of warm and pleasant day; the grass in the Park
looked unusually green IN consequence OF the thunder
storm the night previous AT carly hour, brilliant
uniforms, and gittering bayonets were seen before
the City Hall. The military had been called out to
do the funeral honors of the defunct banks, and if
the public voice demanded it, TO fire voey or two
over their cold remains.
/ Broadway looked like newly made widow, who
was at loss whether to laugh or weep-and every
body was vending his way to Wall-street
| AT ten o'clock that scene of 80 many remarkable
i
people The banks opened their DOORS much as
to say walk in gentlemen and take more look al
our mortal remains. Notices were stuck up, confirm
ing the mornings announcement but assuring the
public that Notwithstanding they could not fulfil
their contracts, they wished to be trusted and do bu
siness just the same as ever.
The street full Of little squads of people, listen
ing to the financial specularions of some talkatve
merchant Or he
mourners at large country funeral, discuss the vr-
tues and vices of their defunct friend and nsghbor,
and the probable consequences of his demise.
"Pvc Just bsen to the bank" said shoemaker,
"with some Of their rags, and asked them for the
cash. they told me they hadn't got it. Well, says l,
give me something can buy bread with for my wife
and chldren-but they shook their heads"
81 tell you what il is," said an old one, "the
banks have stopped specie payments, and they will
never resume them This is their death knell told
Bidde OF this three months ago, and bid him prepare
forit. told him that every bank in the United States
would stop payment before June, and his too, if he
didn't prepare for it."
Things were getting worse and worse-people
were growing uneasy-the street was becoming
| crowded-serous apprshensions of riot were felt,
and some were for sending TO the Park for the mill
tary. Great men are equal to great emergencies.
| Our new Mayor has shown himself worthy of his
high station, and has done honor himself and the
CITY, Just at this important juncture when spirit
OF awess not was beginning 10 manifest ITSELF seve-
vera men were seen TO enter the crowd at different
points, bearing alot statues of the immortal WASH
iNGToN. They were made Of plaster of Paris-some
pure white, others green The effect was instantly
Perccptlbe. feeling OF awe ans reverence seemed
| to pervade the assembled multitude They saw the
noble form of the Father of his country looking
down upon them in ITS calm majesty, aad it seemed
TO say TO them, 81 My sons, beware of what yoar
madness would accomplish. Wroak not your ven
geance on these blocks of marble ana granite and
these unconscious brlckbats. Exercise all your for
ttude TO endure with patience the trials you are called
TO encounter-turn cut Martin Van Buren, and all
will yet be well The banks will resume specie paw
ments and the prices Of beef pork, mutten, and We
getabes will fall fifty per cent"
/ The temult was hushed-all thoughts of mobbinp
were abandoned-the banks went on with their bus-
ness, with the exception of paying specie--the me-
chanics went home to get their dinners and the mer-
chants went to the meeting at the Exchange.
In the morning. all the sober Irishmen industrious
boys, and prudent seamstresses had run to the Sa.
wings Banks, but went home when they were assured
and were made to fully understand that their hard
earned savings safe Us in their own pockets
and much more
| The meeting of merchants at the Exchange was
crowded, and the proceedings marked with the ut
most unanmity. A President and some twenty Vice
Presidents and Secretaries chosen and then Mr.
James 9. King made the best speech of the season.
about the necessity OF sustaining the mercantile Gre
dit of the city, and Of the merchants sustaining the
banks.
Hs said, there was no safety in bankruptcv-tbat
nothing would dc, short of the immediate resutnn
ton Of specie payments.
lie SAID Il was no time now TO talk about the cause
of the evils we are laboring under-that they might
be discussed and remOpes when we got cooler
Ii was then resolved unanimously, that the banks
were able TO pay all their debts and that the mcrcan
tile community must give them little time and
mean while take their bills freely for ali the purposes
Of trade and commerce.
To this complexion has it come at last We mus,
now make virtue Of necessity-take the paper OF
the banks, and get out OF the scrape best we may
There can be no doubt that our city has drawn a
capital prize in the Mayor His calling out the mi
ltary the oafers in the Park and his appeal
10 the patriotism Of the multitude in Wall street. by
sending among them the image of Washington is