Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-09-26

List of Solve mt Merchants Tor 1857.
DEAR ME- BENNETT-Your intention 10 publish
list of sound and solvent merchants meets the ap-
prevail of most of your friends, but for one, think
you cannot be too cautious IN forming the same,
as you will otherwise eopardze the reputation OF your
paper particularly in Europe. You will find, in max
ing up the list, that very few importing houses nave
failed, when indeed only very few are sound and sol
vent they owe nothing or at least not mucn IN tnis
country but great deal the other side OF the wa
ter; they have not RENTED and fulfilled Their engage
ments there, and have therefore failed as well as
those houses here which had to suspend last spring
but as they had nothing pay here, they could not
fail here and therefore reported sound and solvent
but the principle is all the same, man fails whensv-
er he cannot fulfill his engagements ne may owe
here or in Europe or in any other part Of the world
Ii you make therefore, your list up without enqur
ing particularly into this the correctness of your list
will be doubted in Europe, when the houses there see
the names of such here, who unable to sat
| lsfy them thereon as being sound and solvent.
will give you merely few instances; there IS the
house - they have not failed here but sbllg-
ed the Paris house, to whom they two million OF
| francs, TO fail, because they did not remit
With '++'+, it is the same good story is also told
| Of +'+++, who owe largely to Messrs Welles & Co.
at Paris.
When they, w. & Co. were in difficulty, they wrote
to brother who resides at Boston, and requested him
to go TO New York and to see those who owed them
Mr.. Weles called in consequence also on +++. and
desired that they would pay him one third cash, one
third months, one third months. Mr.. >. very
cooly listened to Mr.. Welles, and after he had done
"Iexpect you just came from Havre-come perhaps
by the Burgundy"
Mr. Welles informed him that he had come only
from Boston.
"Why," SAYS Mr.. +"I am astonshed how you
can make such proposal. Your house can be sat
lshed if they receive in eighteen months their money
Still, Messrs. have not failed
Ask little the numerous agents from Paris, Lyons,
and other who were sent out to- obtain pay,
a storv hay fol md find thotnp
few importers are solvent and you will learn that
they'd not expect that some of the French ones
will be able to pay more than SO cents on the dol
lar
l might fill several sheets if l would tell you all
that know on this subject, but my object was mere
y to shew you the necessity TO be very crcumspect
IN framing such list as you propose, as the correct
ness of your valuable money cotton and other re-
ports might be doubted, if such list not prepared
with all possible correctness And on the other sde
il would be an act ofinustice to countrymen here
who owed merely here at the place. and not being
able to meet their engagements en- maturity, were
forced TO suspend, but will satisfy all with interest If
you would such in reality broken foreign houses
quote as sound and solvent, the only way to come
to any correct information will be
AFRlKND.
The suggestions of our correspondent are valuable
We are well aware Of the difficulty in preparing the
list we propose publishing but we have taken such
measures and procured such aid will enable us to
make it very complete and very accurate. Our mo-
tive and intention is to do good-to aid in the return
and recovery of mercantile confidence. If we make
any mistakes, they will be unintenonal. But, in
order to prevent such mistakes those alluded to by
our Friend we request every species of informa-
ton be furnished US. IL api be considered strictly
confidential. Our List has reached already near
y 200 names comprising jobbsrs, importers, brokers'
hardware Dealers the German houses and part of the
French houses We want a full list of the cotton
houses, American dry goods commission houses, and
all those engaged in American manufactures We
are preparing materials to add splendid semi-w
y report of all American manufactures to our other
reports, and statements Of the houses, agents. and
course ofhat trade would be thankfully received. We
propose to publish the list we have prepared in few
days-and afterwards extend-complcte it. to fuller
extent, and then republish it in a week more
Sccne-Wal street, near Broadway.
A,hcnas john discovered coming from Broadway and Jick
Ball going up. Curtain rises the Of The
are coming" They advance and shake hands
J. B.-Gosd morning. John, thou noble scion,
For Athenian blood we rely