Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-10-09
Solvent List OF Merchants i'm New York,
1897.


pal Merchants of New York. in nearly all the leading
nnes of business who have been enabled, by then
skill and good management, TO weather, during the
present yenr one OF the most general, most severe
and most painful commercial revolutions that ever
took place in this country, or in modern times
Throughout the great commercial community OF Eu-
rope, particularly in France and England, the gene
raj impression has prevailed that the whole mercan
tile interest of New York. and of the United States
has been involved in the ruin and insolvency OF
the terrible reyusion Of last spring ms error mas
arisen from the peculiar nature OF the public mind,
which i more capable of noticing any single partial
departure from the ordinary current of affairs, than OF
fixing attenonupon thosegeneral features, winch may
be healthy and solvent This we will endeavor TO
correct. In May last, when the banks suspended
pavment. we published list of houses and firms that
had fallen in that terrible crsis-a list in which few
unntentiona errors were seized upon by malevoence
edged on by folly carried through to ridiculous pro-
secuton, ridiculously ending in ridiculous fne in
flicted by a ridiculous bench of judges-which fine
was, however, repaid 10 US the next day by gener
GUS commercial community, and placed to our credit
in the Chemical Bank, where il will forever remain
recorded, monument to the folly of John Haggerty,
the malevoence Of his advisers and the eternal disgrace
OF Hoxe and Deforest who inflicted the unjust fine
In the publication of facts nothing can deter us from
doing what we believe be duty-and in correct
ing error we shall always be the first as er
rors are manifest. We afraid of ne responsibility
that man of HONOR good citizen and an enlight-
ened editor ought to take.
The annexed publication will no less astonish the
commercial community in France and England, than
il has done US. The public prints IN those countries
have charged this country with being swnders insol
vents, cheats and bankrupts-a in the aggregate
This exaggerated SANDER will be forever put down.
From the catalogue of honorable names we publish
this day. which is only part of the solvent houses
of NewYork it will be perceived, that in spite of the
conduct Of the banks and the OBSERVATION-DISCLOSURES
al ignorant, unpatriotic, contemplate and DIS
graceful-the cheering and honorable truth is develo-
ped the world, that than thirds Of the CON-
nercial community Of Nero Yorkhare passed through
the recuision NTH equal honor TO uemseircs, and credit
TO their common country. We have not alone the ele
ments of wealth and prosperity in fruitful soil, fine
climate, beautiful country-a popular form of gov
eminent sometimes badly conducted 10 be sure-and
every material that forms the seeds of great national
developement, bat we have yet remaining unframed,
untouched, the men, the intellect, the MIND, the busl
ness talent, by the united energies Of which, our ca
reer Of prosperity, beginning from this day, will be
greater and more magnificent than the world has ever
seen.
In the history of the past six years. the world has
been taught few lessons IN commercial science
which the present generation will not speedily forget
One Of the most remarkable developments made in
that brief period, is the solemn truth that fanaticism
or opercction IN religion, in politics. and in fashion
has been the leading cause Of the catastrophe which
marks the history of 1887 in the United States We
have examined and scrunized the list OF failures that
took place between the middle ofMarch and the mid
die Of May, full list of which we have, in manu-
SCRIPT with personal histories of each individual and
we find thar large proportion of those unfortunate
men, were defective ia those cool, calculating, sens-
bic, common sense elements Of mind which are and
must be- al the foundation Of every eminent mercan-
ule character or distinguished commercial nation.
Religion, poll lies and fashion enter, less into
the features Of every society," Of every degree of cvl
zaton and of every variety of refnement-bai when
either run to extremes, and become fana,ical they
throw the mind on its hinges ard produce all the
phenomena ofmadness speculation, persecution, ex-
navagancc, pride and hypocrisy, which have charac-
termed large portions Of society for several years past
Now, in looking over the greater portion Of the re-
spectacle merchants embraced in our interesting list
thsday, by whose prudence, management discretion
and good sense, the last great vcrnal hurricane
was weathe red, they arc well known to be nationally
religious every sect but without fanatcism in any
to be friends and lovers Of their happy country and
constitution voting quietly for public servants, with
out being brawing politicians at the polls-ard to en-
joyhe good and agreeable things Of this world with
out launchinginto extravagance beyond their MEANS
making displays uncongenial 10 this land Of equal
ity and social moderation.
The numerous instances which we could give Of
these views, are well known TO tins community
they 10 Amsne the unforunates of the revul-
SION, men have been known, who, in 1929, left their
honest boot and SHOE shops-became noisy politicians
IN le32-rose TO be great SPECTATORS in s33-rode in
Their carriages drawn by blood horses in ls35-coun
ed themselves worth 81, 500 900 in 1886, and are now
reduced 10 Their original standing in 1887, ready 10
assume the same stool they occupied in 1929 30 and
10 mend the old boot they then left unfinished IN order
10 run the career q Aladdin and his wonderful lamp
BY the union OF politics and banking in this state in
those years. the coruptons Of the former were CON-
municaod 10 the latter and both debauched the in.
ieecs and the morals, TIL We saw the effects before
ms IN rum prosiration, and insolvency among large
portion Of our population last spring.
The same fatal effects attended the UNION OF reli
gous fanaticism and the speculative money making
dlspos,tion AT one and the same moment we nav.