Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-04-12
- ON = Y ~ A M X n r.

i - ~ II y ~ A M X u r.
| Wednesday, April Il-6. Pm.
The controversy between the banks New YORK. ana phil
oepha On the subject Of specie payments leads o .~.cis
reveatens In fact II itself contest he,v...
Messs Prime WARD Co. of Wall street, Messrx Ncho
las Bdds Co. of Chestnut street, for the vantage grou,d
ontho London Change. The New York began ,hs
onset here by article the Of Mr. Bdde and thar
sask kept up with spirit and animation The Unit
ed States Gazette" of Pbade pba upon America.
ana charges Mr. James @. King partner Of the banking
house OF Prime Co., London having prompted,
all the attacks the United Bank which for many
months have appeared in the Londsn Times.
we have had strong suspicious OF this some time
Jaudon, on the part OF the United States Bsnx weIt
20 England much asout the time Mr. King did.
rime Co., In this city, had purchasers agents
or hegoualo Of certain State stocks-ameng taem
oe 81 aaehgaa On reaching London, Mr. King that
M ndde possessed the prestige of the Stock Exchange and
mat rme Ward King the of Michigan and all their
SHOCKS were eit on their hands, In the this Mr.
Jaudon began his stock based both an ton and
s'ae stecks and carried every thing before him. Mr. King
seeing s wrote last al his house here counced them to
asa'e he resumption OF specie payments eheck
10 MT Bdae; believing that he extended on cotton
he would be ready the banks of New
which had been surtaisg la addition to this he
the London Times TO begin that daily denuncaon of Aner
securities and the United States Bank which have ebara
tered the City articles OF MANY months ~ast
In confederation of these he con
tenporaaeous with those giving time the annunca
ton of intelligence he London the New Yorh
American, the OF this SHANGHAI clique sudden
y unexpectedly and but end foremost immediate re-
sumption The facts and data, which based the ar
ees in the American that subject furnished by Mr.
James G. King in London, to his brother, Mr. Charles of
This city, This clique knew well that Mr. Biddle could
not resume specie payments early January or pe
haps so early this prisg The facilities he lad furnished
New York in 1887 and the planters of the south I'm
1885, necessarily prevented sudden Beev
ing this they calculated isure credit of Mr. Bidds in
Europe impede the operations Mr. Jaudon and thus pave
heir
of their in London decline of that of the
United States Bank
This simple statement explaining position and tone
Of the New York American, be denied or questioned
by that Journal may be disposed throw some further
light these curious financial both here and in
Londoneht that will show how private can assume
public virtue to which has right the verest
loaler now on Blackwes Island Tie York Herald is
the only paper that first for the honest far and gene
raj resumption of specie paymenthe only paper that tells
the TRUTH the whole truth, and nothing TRUTH of the
mysterious financial movements of Wall and for this
moral and elevated independence beyond control e pr
interest has been denounced by American and at
tempted be run down by the Journal OF
the verest toadeaters the financial cq all that
| ever existed. So much this pont
The business the Stock Exchange todar has undergone
depression in all stacks Of from per cent IT, g. Bank
has fallen II per cent from the prices of yesterday CITY
Bank per cent Delaware Hudson show a decline Of
per c-nt ~ J. r. p. also per cenL Harlaes s,onnpo,
AID Utica have also declined per Sales of Treasury
terday This probably owing antag onist position as
sumed by Mr. Bdde the New York banks with regard IN
resumption The quantity of Treasury Notes in the mar
ket has been the chief OF their decline o..
Philadelphia per dscount-oa Georgia sland
Mississippi, God only knows what
The Bank Convention met today ~ o'clock in the CITY
Hail. They number about IT'S delegates II states re-
presenting capital equal 10 900 least PHILADELPHIA
is not represented They deliberate with closed doors We
from good source that probable all the inter-
the Convention will agree specie payment. about
the s Of January the New York banks resumng sep.
ratey the l2h May but any sudden nap
cisl movement till the geseal day resumption The follow
ing the States represented
STATES REpREsEsTEp d BANK CONVENTION
Maine, Marylsrd
Vermont District OF Columbia,
New Hampshire, Vermont
Massachusetts, NortL Carolina,
Raode Island, Ind ana,
Connecticut, Illinois
New York, Mississippi,
New Jersey, Missouri
Delaware,
Aer their alton, the election Preside. and 9th
officers the Convention proceeded receive the conmu
ucatcn Of the States rpreen there are nine
majority Of States probably large majority OF the B..k
capital ofthe Unon represented After reception of
the Csmmunicaons from declining states which are princ
paly couched in the lang of snks the
Convention appointed Committee Report on FRI
day tn the matter and subject under When
this was done the Convention adjourned During the whole
Of Thursday there will be long and deep among
Guan bNt We have n hal,.f