Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-05-25
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The BANKs-THEIR Cor RsE-The banks in this
city are all In snarl. Some of them giving spe-
ce for their small promises to pay" and some Of
them pay no regard to their promises whatever. If
the Legislature should held extraordinary session,
in order to look into the of the different banking
institutions in the city, and devise means of relief for
the community we hope that they will compel the
banks TO render just accoHn Of their stewardship
Our own opinion is, that should the legislature con-
vene they would do well take the entire business
OF some OF the banks into their hands. We are well
aware that some Of the banks are anxious for meet
ing Of the legislature thinking that body may posi-
bly, uphold them in their unwarranable suspension
The legislature when il assemblies will undoubtedly
give them their deserts.
The conduct of the banks of our city in suspendng
the payment of their just debts has caused not little
dissatisfaction in the community. The act is looked
upon by the public as most fragrant violation of a
sacred contract which ne circumstances can justify.
Expressions of interest for the welfare of the commu
nity come with miserable grace from those who, in
their hour of prosperity laughed to sc0rn all honest
applicants for facilities, while they showered down
their favors by millions on the bloaed monspolst, and
the pampered and overgrown Spectator. Where
then was the boosted regard of these self Reconstructed
guardians for the vital interests of this community!
What care they note more than they did then, for
those interests? Let those answer who are obliged
to sell fre dollars of their fahess paper promises for
four in hard money! This depreciation in the trash
has already taken place, and buyers enough are
found in streets, with their pockets full of silver,
prepared TO rob the poor but industrious man, whose
necessities may require the sacrifice. Many of them
are, doubtless agents Of the banks themselves and
yet they have the eronery 10 talk of comforting be-
nefts on the people by this Ubiquitous step! From
all such benefits "good Lsrd deliver us!'-Picayune.
Locefocoism is making fearful strides throughout
the country. Nothing will put stop to it. short of
the death of some prominent Gracious Of the party.
MONEY MARKEr-CITY.-Tuesda May l6.-Ths
day has passed off without any thing worthy of note
except the continued development Of the hostility Of
some OF our banks to each other We are being read
n less he n IL
- daily and hourly losing ground in the estimation of
the public, owing TO the conduct of the very corpora
tons themselves. The managers of them furnish the
| administration with weapon 10 break their own
heads and yet they complain of the enmity of the
present dynasty.
II is now ascertained that the Governor will not
convene the Legislature owing to the want of unan
| nifty among these sovereign corporations The on
ly pity is that hose willing lay their affairs before
the supreme power, should be deprived of the means
Of showing their ability to meet the demands of all
their creditors under disturbed state of the cur
rency. But what are we TO be expect of institutions
that place themselves above all law and all.accounta-
bilty to the Legislature
On careful inquiry, can hear Of no sales ofcotton
worthy Of particular note. Flour has suffered ad
vance, but not permanent Some few lots
were sold for expectation to Mobile.
Money Is almost as hard 40 cver The measures
adopted by the Second Municipality, will serve to do
| some good.
| II still continues unusually cool for the season.
| The news from Baltimore is far from encouraging
The ball will carry with it every bank in the country
before it is done rolling True american.
ADDITIONAL PARTICULARS OF THE Loss OF THE BEN
SHEaRoD.-The Natchez papers contain further par
lcuars OF the deplOrable loss of the BEN SHERRop
AT the time she took fire. she engaged in race
with the steamer Praire and the fire took from the
great heat Of the boilers caused by raising hcr steam to
It's extreme power barrel of whiskey was placed
deck for the Of the hands during the race, who
drank TO excess and became intoxicated.
At about IL o'clock at night the furnace became so
| heated that IL communicated fire 10 the wood of
which there was on board about sixty cords. When
the crew discovered the fire they all left their posts
and for the yaw without giving any alarm TO the
passengers who were all asleep in their births. The
captain for time attempted to aay the extreme con-
fusion by stating that the fire extinguished; twice
he forbid the lowering of the yawl which was at
tempted by the deck hands and passengers. The
shreks of nearly three hundred persons board
rose wild and dreadful The cry was 10 the shore! 10
The shore and the boat made for the starboad shore,
but did not gain it, the wheelrope might have given
way or the pilot been driven by the flames from his
statios The steam not let off and the boat kept
on. The scene of horror now beggared all descrip-
| ton.
| The yawl which had qeen filled with the crew had
sunk, drowning some who were in IT, and ths passen-
gers had ne other alternative than Jump overheard
without taking even time 10 dress. There were ten
ladies on board, who all went overheard without u +
| t,ring single Scream some drowning instantly and
| others clnging TO the planks--two of the number
were finally saved. Some of the passengers sup
4 postu W ndNt DuTHt up OH DOdTu zen SnerrOu-
| one man by the name oil Ray, from Louisville, KY
hung TO a rope al IN bow of the boat until taken w
| by the yawl of the steamboat Columbus, which ar
rived about half an hour after the commenceme nj of
/ the disaster, on her downward passage. Mr. RAYS
face and arms were much burnt while ciBging To the
beat in the above poston-he lost $4,000 IN Nat
| chez and United States paper.
Tie steamboat Alton arrived half an hour after the
Columbus but from the carelessness or ndiscretion
| Of those on board, was the means cfdrowning many
persons who were floating in the water. She drove
into the midst of the exhausted sufferers who were
too weak longer to make exertion and by the COM
motion occasiorc1 by her wheels drowned large
number. gentleman by thc name of Hamilton,
from Limestone county, Alabama, was floating on
barrel and sustaining also lady, when the Alton
drove mp and washed them both under-the lady was
drowned, but Mr. Hamilton came up and hoaicd down
the river fifteen miles when he was taken up by the
steamer Statesman.
Mr.. Mcdowell attributes the drowning of his wife
te the indlscreon of the managers of the Alton,
she was floating safely plank Of the time. Mr.
| Mcdowell sustained himself some time against the
current, so that he only floated two miles down the
| rver, when he swan ashore ten miles above Fort
Adams
| Mr.. Rundell, foated down the river ten miles and
was taken up by flat boat at the mouth of Buffalo
creek. He saved his money in his pantalsons pocket
bat lost one thousand dollars worth of fight Nj
Mcdowell lost his wife, son. lady, Miss Francis Few
who was under his protection, and negro servant
Mr. Mcnowel feels himself under great obliua tons