Maumee express. [volume] (Maumee City, Ohio) 1837-1838, 1838-04-07
nTAUNIEE EXPRESS.
SATURDAY. APRIL i, isss.

paper" been more plenty with Us than at
present never has been money more
scarce. A tremendous flood Of Michi-
gan paper has flowed into the channels
Of trade. submerging US under an ocean
Of irredeemable g Wild Cat.D Nothing
isto beseenbut The progeny ofthe VOL
vereen 'rag-mills,' a commodity as well
assimilated to the capacity Of the arter-
les Of Commerce, as bull frogs are to the
machinery Of steam engine. Specie
is out Of the question; it is never seen.
The notes Of SPECIE paying banks are al
most as scarce; and even the paper Of
those institutions in whose promises to
pay the public have confidence, is out
ofthe question. The inquiry in the mouth
of every man, is. WHAT'S to come next?
Truly, we are as badly situated as posi-
bic, and it does not seem likely that we
are to have change OF times for the
worse. In fact, nothing can be worse,
but continuation Of the present press
urc. Our fine gold is already dim, and
our silver change is changed to rabble
route Of shin-plasters, more valuable, it
is true, than Cats, but miserable substi-
tute for specie currency. What is to
come nextl Does any body know?-
Not we, certainly. There is no open
ing in the overclouded horizon, through
which we can see bright sky beyond.
There is no gentle breeze playing around
us, which may increase to gale and
dissipate the storms that frown above.
AS yet Congress entertains no pro-
ject which can,even remotely, result in
producing relief, unless bill providing
for the withdrawal of one third or one
fourth ofthc specie Of the country, from
the streams Of commerce, and shutting
iiup for an especial purpose, foreign to
the purposes OF trade. can be designated
as such. Our State Legislature has done
its duty; it has inquired into the means
ofour state banks, and found them sound.
But the banks can do nothing for Others;
they are engaged in protecting them
selves against the drafts OF the SUBJ Trea-
-
sury, when il shall come more fully in
cooperation. In the mean time flood
Of Michigan "safetyJand~ has made
q Gothic incursion upon US. 1t came
like a stream Of molten lead---fuid and
current when it first came from the cru
chile, but rapidly congealing in its chan
ncls,and glueing every thing fast in its in
duration. Now, it will go nowhere, buy
nothing, and remains dead in the hands
Of the holders. a apictoral evidence that
they have had money once.
What is to become Of Tie Wild Cat
Banks Several ofthem have undoubt-
edly been managed with as much pru-
dcnce as has been customary to use il
the best institutions Of the country
These willredeem their circulation; but
unfortunately for US, that circulation is
very small. Others, from the want of
prudence in their management, can new
er meet the demands which their notes
will bring upon them; they will soon be
wound up, as many Of them are running
doion already, and their /" satstyjund,'
(baiing the fees Of the Commissioner
will be expended in paying a small per-
ccntage on their paper. Others are de-
cidedly fraudulent, and their bills good
usever-that is, good for nothing.
Which of the Wild Cats are currentl
lin Detroit. the notes Of the Banks at
Gibraltar, BresL Merchants' and Me-
chanics', and Rail Road at Monroe, were
taken BY most Of the traders in Detroit,
early in The week, Lenawee, Saline,
and Coldwater were taken by some, but
were not generally current. Among US
Gibraltar, Farmers and Mechanics and
Rail Road, at Monroe, and Brest, are ta-
ken, though our merchants are far from
anxious TO take any.