Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-08-23

TO inform readers that the Canal Bank has
ed the payment in specie Of her Wehope TO see
the example followed by the other Institutions the ad-
ministratlon Of whose affairs have been such as to
permit their doing So individual and public credit
impenousy demands this at their hands The suspen-
SION OF speciepaymen of doubtful policy from the be-
glnnnR has developed pernci0us influence, and our
citizens are suffering under its crueleects. Without
terng into discussion of the defects of the present
6ankingsystem assert without fear OF contradiction
that the impoc proceeding of the banks have injured
them more public opinion, than all the essays OF
their opponents during the fruitful discussion OF which
they have been the lteme. With their own existence
jeopardized with the industry and credit OF the coun.
try be proslrated it natural to expect that they
| would, even before this, have abandoned this mea-
sure and have come either the resolution of
ing the specie basis OF winding up their AFFAIRS and
paying Their creditors far their means went by
the sale of Their property IS not just that the whole
community should be sacrhced to subserve the inter-
ests ofcomparatvcly few persons, who have been
the cause of their mlsforunes, and who have no
claim sympathy, much less to our assistance.
Bee.
The editors had been much edited by seeing the In
dians at Pass Christian play ball.
Tuscanutchy-e- Mathla classcally styled Jim Boy,
the principal warrior of the friendly Indians, in New
Orleans TO the lions"
Files of the Houston Telegraph to the 10Th ult.
have been received. The books for subscription to
the Texas Railroad, Navigation and Banking Com
pany were to be opened in the capitol on the 18th
inst The country remains tranquil. The crops
especially corn, are promising. The army is still at
La Baca, in good health and spirits.
The Brasos river Texas has been forded as high as
Marion by New Orleans steamer.
The Hon. VIM. Fl. Wharton is Mexican prisoner
| at Matamoras, where he is confined in very small
room bris,ng with bayonets, half devoured by fieas
half suffocated by the heat continually pundered by
| the guard, and denied even medical assistance when
sick This is a return for the lencncy shown to
| Santa Anna.
| STEAMBOAT ExpLosroN-The Caroline her
passage from New Orleans TO this city, burst her
boiler, near the mouth Of Dog river, in Mobile Bay,
with the loss of three lives and some SIX or eight
wounded. We have not been able 10 learn the cause
of the explosion. In the absence of all information,
we feel inclined to attribute the calamity to the long
use of the boilers, which must have been defective
from age. The Caroline was on the Alabama river
for many years, and could scarcely be seaworthy.
Smith, the pilot, was killed, and two negroes jumped
overheard, who were drowned The wounded were
Capt. Knight, of ship Colchis, James Mccarthy,
Daniel Clintock, John Hanks, VIM. Crawley and
James Corn. The wreck was towed up by the steam
er Champion, from Pensacola.-D1obile Chron.
The property holders making liberal reductions
in the rates of rents in Mobile. Tenements which
commanded from two to three thousand dollars last
year. are now offering for and two thousand.
Money, like water is seeking its proper channel.
High time. Property seeking its equitable value.
High time. And people returning to reason and CON-
mon sense. High time again.
A new tragedy has been produced at Cincinnati.
The editor Of the Republican says the author may
"wre himself down an -"
Dates from Rio de Janero ria Baltimore Much
distress has prevailed there throughout tie month
business has been inactive.
The packet from England was looked for with in
tene interest; and her arrival the 18th with bet
ter advices from the money markets of England
would have gone far to aay the fears Of our capital
lists; but the acceptance IN London OF the drafts
of large English house Of this city, whose business
was much extended rendering il necessary that they
should suspend payment, fresh shock was given TO
revving confidence. The dissemination 10 take bills
or England continues; and specie having ruled high
in comparison with bills, several OF our remittng
houses have turned their attention to coffee.
From our Correspondent
New ORLEANS, Aug. Ia, 1887.
DEAR BESSETr,-We are thus far through the dull
season. which has been Of the dullest have
seen-every day appears like a Sabbath yet we
should be thankful for the continued good weather
which goodly city is blest with. We have, to be
sure had some of fever (yellow) but always
expect few, which does not aiarm the community.
his IS the season Tor SlcknesS-wc now begin TO
think the fell destroyer yellow fever has been avert
ed for this season.
We have just passed an important week. The llth
was the day on which most Of the banks should have
resumed specie payments-the Canal and State are
the Only ones that resumed and paid all, conse-
ouenty the charters of nine banks by of legs-
aton, now become ipso facto null and vod-the
names Of these c-CommcrcIal, government deposit,
good-Atchafaaya MISUNDERSTANDING, with ire
mendous pile of brick, do.-Mechanics' e. Traders
do-Orleans, most Of the stock 10 held by its Presi
dent, Andrew Hodge who will, no doubt, make a
private bank of it, do-Union Bank, government de-
post, unceriain-City, nsovent-Bank Of Louisiana,
ood-Improvemeni, badly managed thought TO be
good-The Gas Light continued to pay some time af-
ter the general suspension, and it is thought she will
resume at the expiration Of 90days.
There is much talk about what the Legislature will
do win respect to the banks but if they only act as
the people, or at least hree-fourths Of them wish,
they will never continue the charters of these licensed
robbers They cannot, nor ever will be able 10 re-
deem their promises to pay, and the people know il.
The question arises-dsre our Legislature renew their
charters when the people say moi
The banks are in a d,porable state-they cannot,
nor do not assist the merchants to a single dollar in
- a. a.